Which is more important - Biotech or IT? Do we show it by our investments? Do we encourage one over the other by legislation? If there were two stories, two competing headlines, one for the new iPhone and one for the recent advance in diabetes research, which do you read? Which is more important for our future? Perhaps most people consider it sufficient to read about pharmaceuticals in the context of which celebutart (Lindsey Lohan, Paris Hilton, or Nichole Ritchie) has been arrested this week.
I was intrigued by Guy Kawasaki's interview with Moira Gunn that he posted yesterday. I'm not sure I care for the title. I think that it might hurt her ability to be taken seriously but that is between Moira and Guy I suppose.
My thoughts were piqued by one of the questions he asked? "Just how pervasive is biotech in our everyday lives?" I imagine that very few people realize how pervasive it is. Her answer was very enlightening. (the link above will take you there. I'm not sure it is correct to quote that extensively from Guy's blog without permission.)
This got me to thinking about a conversation I had recently with a "Partner" in a medical investment company while on the JFK shuttle...
Recently I have been approached to work with, or join, several companies. I love the early stages, and I am always interested in getting involved with interesting entrepreneurs - Modern Magellans. Two companies are in the Internet advertising space. If they succeed, then it could mean big money very quickly. Two other companies have asked me to be a part of their program - they are in cancer research and drug development. The payoff could be in a couple of years, but more likely will be 5 to 10 years.
I went to a very highly regarded school, and earned a PhD in Molecular Biology because I wanted to eventually work on regeneration. I thought it would be great to help people regain the use of lost limbs. Once I saw how difficult the academic process was I decided it that path was not for me. I went on to build a dot-com in 1994 because I felt I could help more people by making it easier to find the reagents they needed. That lasted until 2000. I have been working more on the business side but I still follow what is happening on the science side.
If you were me, or even for yourself, which type of company would you choose? Biotech or IT?
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