What's Your Reaction to Being Called a "Patent Troll"?

Read Transcript

I don't know of any system in the world where someone comes up with a new disruptive idea, where that new disruptive guide is welcome with open arms. Anything that threatens the status close scares people, or yet it grows a knock of some sort, people have an agenda. So, when I say hey let's fund lots of inventors, let's empower inventors, that scares people who have been using inventions for free.

And they say, this is terrible. They're going to ask us to pay for stuff that in the past we can just take it, the university wouldn't know, and they would never come after us, but if Nathan buys it he might realize that we ought to pay him, or he might license our competitor and our competitor starts using it.

So, there's a lot of fears, I think those fears are unfounded. I think those fears are thus we await for the benefits. And you can ask for some of the questions, why does it benefit us to make a technology like a Bill Gates or a Mark Zuckerberg, why should they be billionaires? Well, the answer is we have a society of laws, those laws are fair.

When these guys do something that is incredibly valuable to us, they can make a tremendous amount of money. And by the way, that it's a huge incentive for more of them to go out there and make more of the things like that, many of which fail, but every now and then they succeed, and when they succeed they change all of our lives.

And so we should be grateful to Mark Zuckerberg and Bill Gates that they have gone out there and changed our lives and the fact that they've made some money while doing so. Hey, that's the American way. I think that's all true from Venus. Look at the story of Thomas Anderson. Thomas Anderson invented so many important things, totally changed our life with the phonograph, with the motion picture camera, which incandescent light bulb, and does another smaller inventions.

So, Anderson made money, and in his day, we don't remember this now. Anderson was controversial because other people, wanted to use his inventions, without paying him and Anderson, would get into disputes with them. Today, we have this rosy thing and people can all, we all agree, Anderson that was great.

Cause that has the removal of time. But, if you bring a foreign today and say, why should we make some inventors rich? Because if we making invendors rich, and we fund in vendors and then channel another 300 or 500 million powers to individual inventors one of those people is going to come up with an idea that's worth way more than that.

Maybe two of them, maybe ten of them. And when that happens the fit to society, the benefit technology companies, and yes the benefit to my investors, and to me is going to be there that's the way the system should work.