To: Pseudo Biologist who wrote (6052 ) 11/29/1998 11:36:00 PM From: Rocketman Read Replies (1) | Respond to
Yeah, I caught that article in the paper. Seems to me though, that it might be a little bit dated in perspective, like a month or so ago. Things seem to be turning around in the sector. Hell, since Sept 1st the Model has gone from $44.6K to $155K, that's a 250% gain in just 3 months. However, the quick killing to be made in internet companies is just drawing money like crazy. You've got to wonder if it will ever reverse. The internet is still in such an infancy stage that it still has huge growth potential. But, the poor schmucks buying Ebay at $218 are going to get creamed when reality and competition set in. There is still a lot of opportunity out there though. However, there is a lot of money to be made in biotech too, but it tends to take so damn long to get through the whole FDA process and so many crap out that it takes a very diversified and long term strategy to make the big bucks there. I really think that the drug industry will continue to be dominated by the big pharmas and that the biotechs need to be a service industry to them. The pharmas have the cash and the long term perspective needed to keep the biotechs alive and they also realize that the innovation and creativity is in the small companies. The big bureaucratic pharmas just aren't that creative. Now, if any body can combine the entrepreneurial environment and creativity of a good biotech in a big pharma setting, then you'd really have a hot property. I'm not holding my breath on that one though, too many stogy old farts in control. The most important asset at these companies wears tennis shoes and goes out the door each night, the trick is keeping them coming back each morning and happily doing their thing.
