What is the actual failure mode of these companies? The article cites ATI, Nuvectra, Second Sight, Stimwave.. were these companies expecting govt grants that never arrived? Did they overestimate how much patients would pay for these implants? Misjudge how much they could bring prices down? Were their devices one-and-done treatments so they had no renewable income?
Some of these companies were making truly life-changing tech that only exists because they made it exist. It's disheartening to read about them going under.
As for how to handle ongoing support for the patients of companies that do go under, the article already says all my thoughts on it.
> One proposal is that neurotechnology companies should ensure that there is money available to support the people using their devices in the event of the company’s closure. How this would best be achieved is uncertain. Suggestions include the company setting up a partner non-profit organization to manage funds to cover this eventuality; putting aside money in an escrow account; being obliged to take out an insurance policy that would support users; paying into a government-supported safety network; or ensuring the people using the devices are high-priority creditors during bankruptcy proceedings.
> Realeve’s interim chief executive Donato thinks that it will take legislation to convince investors or shareholders in companies to take on the expense of a safety net. “Unless, and until, the governments force it on us,” he says, “I’m not sure companies will do it on their own.”
Some of these companies were making truly life-changing tech that only exists because they made it exist. It's disheartening to read about them going under.
As for how to handle ongoing support for the patients of companies that do go under, the article already says all my thoughts on it.
> One proposal is that neurotechnology companies should ensure that there is money available to support the people using their devices in the event of the company’s closure. How this would best be achieved is uncertain. Suggestions include the company setting up a partner non-profit organization to manage funds to cover this eventuality; putting aside money in an escrow account; being obliged to take out an insurance policy that would support users; paying into a government-supported safety network; or ensuring the people using the devices are high-priority creditors during bankruptcy proceedings.
> Realeve’s interim chief executive Donato thinks that it will take legislation to convince investors or shareholders in companies to take on the expense of a safety net. “Unless, and until, the governments force it on us,” he says, “I’m not sure companies will do it on their own.”