there are a half dozen hot venture backed healthcare co's right now that are just traditional, shitty healthcare services business that look great because they report COGS as R&D expenditure lmao
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this is particularly bad with many but not all the "tech enabled CROs" that tech funds are blowing tens millions of dollars in. These businesses have incredible revenue/customer ramps* *because they are selling services at a 50% loss to "gather data for ML" that will never yield
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Ssssh VCs don't know that last part yet
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Are you including RWE cos in “tech enabled CROs”?
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no RWE is incredibly real and still in its earliest days
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