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Perhaps it's just a lesson to have your science locked down and proven before you make all kinds of promises to investors. And if your science is broken, don't
by joezydeco 11y ago
Perhaps it's just a lesson to have your science locked down and proven before you make all kinds of promises to investors. And if your science is broken, don't snow people over with a board of directors that Fortune-50 companies can't even muster.
- a3n 11y agoExcept sometimes you need those investors' money to get to where your science is locked down and proven.
- tclmeelmo 11y agoExperienced investors aren't going to invest much if the science isn't on a good foundation. Even if they would, that's a pretty expensive way to fund research: it's cheaper to fund it by grants or through revenue.
- hga 11y agoAs I understand it, that's how it works with the VCs who specialize in biomedicine. They'll provide limited funding to scientists with a credible theory to see if it pans out, with further funding to ideally follow. Theranos got way too far without having to prove their science.
- xenihn 11y agoMakes you wonder how much investor funding that would have otherwise gone to startups with an actual viable product was sucked up by Theranos.