The book “against intellectual monopoly” has shaped a lot of my thinking on this topic - economists have looked at the various occasions in which patents were introduced into an industry (or extended in scope), and there is no evidence they actually improve innovation/efficiency/outcomes (including the pharma industry!). I was quite surprised as my whole life, it was sold to me as an incentive-boosting measure which…
Patents have been mostly a pride checkbox for me, but at the same time being able to get credit for something you could never build is interesting. I’m less supportive of the loose monopoly part though, that seems to be the real issue dampening innovation
Everyone hates patent trolls (non practicing entities who dont implement the idea themselves), but practically its an extremely high burden. I did some patents on financial market plumbing, implementing that requires licensing and infrastructure far beyond any coding or building problem
Thinking of it 10 years before investment banks get around to it I think should still be incentivized someway
But the current system is cooked