On the one hand I feel that the culture of innovative companies would become less innovative as they rest on their laurels watching the cash come in form their one great invention.

On the other hand I think radical innovation would increase as people look for genuine work-arounds, not wanting to wait a career lifetime to have that big break.

So would industry become more fragemented, without the ‘giants’ in each sector.

I think the generic pharma industry would be in big trouble, as a 70 year old drug product would rarely have a big generic market due to much more effective classes of drug coming through.