I think we’re seeing this to some degree in ICOs. Legit companies aren’t going to act without precedent and existing case law from the SEC, so we’re left with new companies and sheisters hawking 99% bullshit, to the point that almost everyone says “ya just shut out down”
It’s ridiculously, ridiculously hard for a company that needs FDA approval to win toneven raise a seed round
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And yet folks manage to do so. Maybe the bar is higher for hacking bodies than web startups? Maybe that’s not obviously a bad thing? Anyway, just food for thought.
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The difficulty raising capital for bio startups could also be a problem of impatient capital in inherently slower (vs web) industries. Not arguing either way, just offering something to consider.
End of conversation
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