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Stanford's John Ioannidis explains why pharmaceutical companies testing their own products creates a massive conflict of interest and proposes radical solutions to fix medical research. Ioannidis argues that asking drug companies to test their own products is like asking painters to judge their own paintings. He proposes that independent investigators using public funds should test pharmaceutical products instead of the companies that profit from them. The discussion reveals how publication bias works in practice. When researchers can easily test something with available data but no studies exist in the literature, it often means negative results were found but never published. Scientists aren't rewarded for rigorous work but for producing extreme, often unbelievable results. This comes from the author of "Why Most Published Research Findings Are False," the most accessed article in Public Library of Science (PLOS) history with over 3 million views. Subscribe to @capitalisnt for more discussions on what's working and what isn't in the systems that govern our lives. Produced by the @StiglerCenter at @chicagobooth. Timestamps 00:00 - The pharmaceutical research conflict of interest 01:04 - Ioannidis's solution: independent testing with public funds 02:39 - Basic science vs translational research funding 05:42 - When lack of evidence IS evidence 08:27 - Publication bias in different fields 11:00 - Cognitive bias vs financial incentives 14:45 - How to be an effective scientific skeptic #JohnIoannidis #Science #Research #EvidenceBasedMedicine #Stanford