You know, like in Jurassic Park? I just finished watching that movie, first time i seen it in years. Wouldnt it be great to have a pet Velociraptor in your back yard instead of a dog?
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Even if one had complete DNA sequences, one does not know which genes need to be expressed at each stage of development. That is a real challenge. There are some genes which are expressed all the time (for instance those whose products are involved in energy transduction) while there are examples of other genes that are hardly ever expressed. If we could figure out the energetics of gene expression, we might be a step closer to recreating a velociraptor for you (assuming that environmental conditions and ecology are taken care of).