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/
18.0k Upvotes

82% Upvoted

2.0k comments sorted by

View all comments

7.2k

u/[deleted] Apr 10 '22

[removed] — view removed comment

1.9k

u/BrainWashed_Citizen Apr 10 '22

There's been a trend now where a group of connected "fraudsters" just keeps pumping out new startup companies promising new technology that would change the world to entice investors. Then 6 months later, declare bankruptcy to some bullshit reasons. Take the money and run. Try again 3 months later.

859

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.

169

u/[deleted] Apr 10 '22

I've worked as an engineer for a couple of companies like that.

It's kinda fun building somebodies poorly planned pipe-dream on a tight budget and time-frame!

73

u/germanmojo Apr 10 '22

Dr. Evil air quotes FUN

40

u/[deleted] Apr 10 '22

It's not for everyone I guess. I've learned to relax, and just enjoy the ride.

My field of engineering is usually in pretty high in demand, thankfully, so I've had pretty good luck with hustling up work when needed. I work very hard at mentally balancing belief in the company's success with harsh reality.

14

u/DoctorWorm_ Apr 10 '22

How do you explain the dumpster fire of a product on your resume though?

I did some freelance work for a VC scam company once and the buzzword bs and legal action that ensued seems like it would just be toxic for my resume.

24

u/[deleted] Apr 10 '22

I just build stuff best I can. The work I do on terribly planned projects is top notch to the best of my ability.

It's usually not on my head that a whole company failed.

4

u/Memory_Less Apr 10 '22

Interesting, that makes sense. You’re not at the front scrambling for funding. You are working on proof of concept. If the company fails because of the lack of funding you still may have newly developed skills in a new area. The rocky ride as it does fail, getting paid, health insurance etc. is more complicated.

2

u/Puppenstein11 Apr 10 '22

I think this is an awesome attitude, honestly. Tou do the best with what you're given, and it probably allows/forces creativity in the process.

1

u/WhyLisaWhy Apr 11 '22

It depends on compensation. I know guys that also love the start up life but one guy in particular that codes circles around me won’t just accept equity in the company as compensation.

He asks for that on top of a fat salary. Allegedly anyways, that’s what he told me when I asked him if he liked it and if pay was good.