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I've found the same thing to be true. The successful medtech startups are consistently from experienced folks that have spent years in that industry who identi
by iancmceachern 5y ago
I've found the same thing to be true. The successful medtech startups are consistently from experienced folks that have spent years in that industry who identify an unmet need and go after it. Every single medtech startup that has been led by a startup bro right out of school with personal connections to money has been successful in raising money, building hype and a PR machine, but not in creating meaningful value to the patient and caregiver, and not making it to the clinic.
- hef19898 5y agoThere seem to be industries that cannot be disrupted by dumping hundreds of millions of VC dollars on PR and marketing and undercutting the competition until you're the last man standing. Health care and pharma for one, I'd say aerospace as well (exceptions like SpaceX notwithstanding, and they have a top notch team and Shotwell who seem to be perfectly able to manage both an aerospace company and its tech bro founder).
- hnfong 5y agoThe formula of "dumping hundreds of millions of VC dollars on PR and marketing and undercutting the competition until you're the last man standing" work on industries that had no "difficult problems" to solve in the first place, and only need marketing and scale. It's not a coincidence that the companies that succeeded with the formula were internet ads, and monopolies that provided day to day services (replacing mundane stuff like taxis, hotels, social interaction, etc...)