"If 50 people [each] want 2% of a device's value, we have a problem," says Josh Lerner, a professor at Harvard Business School.

哈佛商学院教授乔西·勒纳称，“要是50个人，每人都要设备价值的2%，就有问题了。”

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“If 50 people [each] want 2% of a device’s value, we have a problem,” says Josh Lerner, a professor at Harvard Business School.

哈佛商学院的Josh Lerner教授说，如果50个人每个人都想要设备价值的2%，那我们就有大麻烦了。

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Josh Lerner of Harvard Business School points to two other potential problems, one caused by too much liquidity, the other by too little.

哈佛商学院的约什·勒纳指出两个潜在的问题，一个是流动性泛滥，另一个是流利性太少(译者注4)。

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In "Innovation and its Discontents", a book published in 2004, Adam Jaffe and Josh Lerner argue that some reforms have even made things worse.

在2004年出版的《革新与革新的不满》一书中，AdamJaffe和Josh Lerner认为一些变革甚至画蛇添足。

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Late last year, Steven Kaplan of University of Chicago professor and Josh Lerner of Harvard Business School published a study claiming "it Ain't Broke."

去年，芝加哥大学教授StevenKaplan和哈佛商学院的Josh Lerner发表了一项研究称风投模式没有过时。

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But since the sale of IndyMac, a collapsed Californian lender, to a group of private buyers in January, "the logjam has broken", says Josh Lerner of Harvard Business School.

但自从1月份私人买家团体对加州一个名为IndyMac的破产贷款公司的收购“打破了僵局”，哈佛商学院的乔希·勒纳如是说。

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But since the sale of IndyMac, a collapsed Californian lender, to a group of private buyers in January, "the logjam has broken", says Josh Lerner of Harvard Business School.

但自从1月份私人买家团体对加州一个名为IndyMac的破产贷款公司的收购“打破了僵局”，哈佛商学院的乔希·勒纳如是说。

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