I agree, i think the biggest issue right now with tech VCs starting to get back into biotech is that they don't appreciate the technical / scientific risk, or t

I agree, i think the biggest issue right now with tech VCs starting to get back into biotech is that they don't appreciate the technical / scientific risk, or think they can magic the risk away with AI. The tech VCs are renewing their interest bc they've seen that its possible to get $10B+ exits in under 5 years in biotech (KITE and JUNO got to $10B valuations faster than I think dropbox, snapchat and twitter), but i think some of them misunderstand the risk, as you mention, and will get burned Cycles times are costly / more expensive, and companies usually only get a handful of chances to get it right. And it's too expensive to try to manage this risk through diversification alone -- cost of failure is too high. That's why biotech VCs spend so much time on diligence -- mostly scientific diligence -- compared to tech counterparts