Biotech is more traditional.. VCs assume less risk overall even though materials may be more expensive than a straight tech company. In the former you get some

Biotech is more traditional.. VCs assume less risk overall even though materials may be more expensive than a straight tech company. In the former you get something that works and the FDA approves in the latter you are going for users.. in some sense gaining users depends on vanity like total funding which drives press etc... This might be a weak hypothesis.. dunno. Other companies in the space that are not retail consumer oriented with high valuations seem to suffer.