I set out to read most if not all of the annual reports of small public companies, an awful lot of which are drug/biotech startups, and the odd thing I've notic

I set out to read most if not all of the annual reports of small public companies, an awful lot of which are drug/biotech startups, and the odd thing I've noticed is that many of them, if not a majority, seem to be focusing on rare diseases, and not only that, but there's more overlap than you'd think (you'd think there would be a huge number of different rare diseases by definition). I have a vague sense of the rationalizations of that, there's less competition, more chance of discovering something revolutionary, but... I couldn't help thinking, where are the companies trying to change the world with moonshots that address common diseases? My kneejerk reaction is that incentives must be screwed up at some level of regulation.