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You might fund it if you're an eccentric billionaire
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Sure, but it would still be a poor investment. Because you'll be giving people money who have no expertise in managing this much and also no expertise in the research subject. Because of that, it's easier to allocate money elsewhere, or even create your own company.
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I agree from the standpoint of ordinary investing logic but sometimes rich people do weird shit with their money.
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True. My point is that it would probably be expensive, where expensive means outside of their budget. Even if they are profitable, I cannot imagine them having the money needed to conduct this research. This means they would need an investor to fund this. Now, why would I fund them instead of a research lab?