The World Bank has forecast that the economic cost of the COVID-19 pandemic could result in a global GDP shortfall of $10 trillion between 2020 and 2021. Looking ahead to 2022, it expects global GDP to remain below its pre-pandemic projections. Sustained investment in a global early warning system for pathogenic threats is needed if we are to overcome the persistent cycle of "panic and neglect"—massive investment during a crisis, followed by a precipitous decline in funding as soon as the threat is over. What incentives are needed to motivate governments, the private sector, and philanthropic organizations to invest in early warning surveillance?