

there is a degree of risk that is acceptable for business. 90% drug trials fail; if you are inventor, you make a startup, package your pre-trial drugs and associated IP there, then pitch it up and cash out. vcs have money for clinical trials. sometimes you have phase 1 results that you got on your own too. the further it goes in trials the more it is worth; result is the biggest gacha in the town








i see no reason why P/E could be negative, then it works like negative absolute temperature