Contrary to myth, the private sector does tons of science — because it is so profitable. Consider IBM. The Times Higher Education Supplement’s survey last year showed that Harvard University’s science papers are the most cited globally (20.6 citations per paper on average) but coming in second was IBM (18.9), outranking all other universities and research bodies. And because IBM invests so much in science, it has for the past 12 years been awarded more patents (3,000 annually) than any other institution. And by its patents IBM earns more than $1 billion annually in licence fees.