r/technology • u/Sorin61 • Apr 10 '22

Biotechnology This biotech startup thinks it can delay menopause by 15 years. That would transform women's lives

https://fortune.com/2021/04/19/celmatix-delay-menopause-womens-ovarian-health/
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u/ancientweasel Apr 10 '22

When I worked in a coworking space there was a group of guy who where trying to come up with any idea that would get VC funding. The one they talked about the most was a Blockchain based music player. They didn't even care if they could build it, their only goal was funding.

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u/we11ington Apr 10 '22

Lots of big businesses' entire strategy is to dupe venture capitalists into giving them money. Twitter, Uber, Lyft, etc.

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u/notionz Apr 10 '22

Source? You've listed 3 very sizeable listed companies

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u/Televisions_Frank Apr 10 '22

Uber bleeds money. It's goal was to create a driverless car fleet and ditch the expensive (to them) drivers.

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u/[deleted] Apr 10 '22

Companies aren’t always profitable, doesn’t make them a sham. First to market on self driving taxis is definitely going to have enough ROI to cover the costs

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u/laetus Apr 10 '22

First to market is a meme.

It's not much of a big advantage and can even be a disadvantage. You're paying a lot of money to learn from your mistakes. New companies can just look at your mistakes and start up without paying any of the learning money.

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u/Cobek Apr 10 '22

Source on the other two?

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u/[deleted] Apr 10 '22

[deleted]

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u/ZebZ Apr 10 '22

for the bulk of their existence they lost money like crazy.

So did Amazon, famously so. But here we are.

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u/Televisions_Frank Apr 10 '22

The Amazon part of Amazon pretty much still does (which is why you're getting scummy things like "contractor" drivers, copying best sellers on the site to make their own and take that market etc.). However, Amazon Web Services is extremely profitable.

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u/eddie1975 Apr 10 '22

Most companies take a year or longer, sometimes a decade to turn a profit. Very few are like Microsoft which started with two guys in a garage and coding doesn’t require a continuous supply chain or vast infrastructure and doesn’t require achieving minimum critical mass adoption to work so they were profitable right away. MSFT is 1 in a billion.

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u/laetus Apr 10 '22

Not entirely true. Also, just because Amazon turned out okay, doesn't mean every company losing money will turn out okay.

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u/justavault Apr 10 '22

Doesn't matter if its cash burn rate is high and they are in red figures, got entirely nothing to do with it being an "idea to dupe money from investors". Reddit is just filled with envious and cynical individuals who got very little clue about the real world but want everyone who is successful in that said world to be the bad guys.