Yup, Theranos attracted more than $700 million, was valued at $10 billion, and silently returned bogus test results for thousands of people. They weren't doing anything like altering people's DNA, immune systems, endocrine systems, etc.
Yes the barriers and regulations are (rightly) much higher than just business or consumer software, but I fully expect that the VC money will be, and in fact is already moving there. VC is very herdlike, and it'll only take a few really hot biotech hits to open the floodgates. I'd predict 5-10 years away, maximum.
Yes the barriers and regulations are (rightly) much higher than just business or consumer software, but I fully expect that the VC money will be, and in fact is already moving there. VC is very herdlike, and it'll only take a few really hot biotech hits to open the floodgates. I'd predict 5-10 years away, maximum.