In recent times, most science research is conducted by private companies rather than by the government. In my opinion, the drawback is more significant.
On the one hand, the fact is recognized that this phenomenon brings many benefits for the society and private business sector. There is no denying that the government budget can be saved. These businesses need to do the research to develop new products to survive on the market and they have to pay for this, so the government do not have to allocate our tax money while the society enjoys new scientific and technological advances. There is a great variety of businesses in different fields because the society can enjoy various developments to improve and enrich their life such as new Iphones every year, new marketing strategies, inventions in various areas and especially AI. One further justification which should not be ignored here is that the main goal of these companies is to make profits so they will try to do this with less resources, money and labor but investigations and studies more efficiently.
On the other hand, there are many drawbacks when the majority of scientific research is carried out by private companies rather than by the government. The main problem is that it is difficult for the government to control safety for the public because the companies profit driven, they will use findings to their best interest such as sell new products with the high cost, examples: they can sell new medicines to terrorists or they can ensure the safety for people who live near the research area such as nuclear research or weapons. Another problem is that because of the large payment when doing research, there are few companies to do this and their productions are sold very expensive for the public.
In conclusion, it is my belief that the private company investing in scientific research will have both beneficial and detrimental effects. The government should enhance national defense, security and inspection to take care of big projects, ensure research is done safely and intervene in the use of research findings.