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I have to ask, do you have experience in this area? Because it doesn't agree with my limited experience and I'm curious when/where you were involved with biotech startups and funding in the 90s/early 00s.

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I'm an outsider, but to quote credible external sources, Science AAAS writer Derek Lowe documented that the biotech startup scene was large and relatively easier to get investments in from 1991 to 1994, with stagnation in 2012 [0].

McKinsey separately reported that there has since been another boom in the biotech sector in the 2020s [1].

[0] https://www.science.org/content/blog-post/biotech-class-earl...

[1] https://www.mckinsey.com/industries/life-sciences/our-insigh...

> boom in the biotech sector in the 2020s

Thanks, McKinsey, that's a great use of your consulting superpowers. Hey, was there a boom in artificial intelligence around 2015 as well? For $65,000 an hour, I'm sure you'll be happy to tell us.

I was in grad school at that time, in a program that heavily emphasized bio-entrepneurship. It was not easy to get money to start a biotech company at the time. The only ones I can recall required a star professor, a working technology, a university patent, and even then, most of them failed or pivoted.

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