3 ms·
The issue I have is that both were not really tech companies but rode frothy tech hype and marketed themselves as such. Apps and pretty websites, by themselves,
by bobthepanda 4y ago
The issue I have is that both were not really tech companies but rode frothy tech hype and marketed themselves as such. Apps and pretty websites, by themselves, do not magically make a sector more profitable, and that era was peak “everything needs to be disrupted by tech.”
WeWork is unprofitable, but mostly because we’ve known for hundreds of years that paying long term liabilities (e.g. leases) with short term funding is a model that quickly goes belly up.
- wpietri 4y agoYou are claiming that Theranos, which claimed to be using novel technology to revolutionize medical diagnostics, was not a tech company? That seems very "no true scotsman" to me.
- bobthepanda 4y agoTech, and biotech, have one big major difference, namely the FDA and other equivalent regulatory agencies, which have strict standards and approval timelines measured in years. You see this in the differences in their balance sheets and valuations, and biotech is not generally part of the tech conversation from an investment perspective.