Comments on: From Academics to Biotech: A Journey to the Supposed “Dark Side” http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/ Business + Technology in the Exponential Economy Sat, 11 Feb 2012 03:54:18 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: TonyC http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-108312 TonyC Mon, 25 Jan 2010 17:16:26 +0000 http://www.xconomy.com/?p=43316#comment-108312 The strokes of your pen are certainly filled with style, Charlotte. You're a pleasure to read - on the side of my screen, juxtaposed to the poker hand of b-plans I'm masticating at the moment. My path to venture capital is analogous to yours - perhaps 3 base pairs of difference. I transitioned from medical school, spent time in the consulting world and returned to business school prior to entering the world of VC. A few of your readers asked whether the flame that lured us still burned as brightly, or perhaps even singed us. From my perspective, the flame has now become a constellation of brightly burning bodies that continue to excite me and that continue to forge the tools for the practice of medicine and science. A light that touches potentially everyone. I was burdened by the notion that I was abandoning clinincal pursuits and that I had abandoned the pursuits of medicine and science. I can only say with clarity now that those concerns could not be farther from the truth. The value of ALL of medicine and science is measured through application and utility, and venture investing, which enables and facilitates application and utility, is in fact the light side...not the dark side. You have exciting times ahead of you! Tony The strokes of your pen are certainly filled with style, Charlotte. You’re a pleasure to read – on the side of my screen, juxtaposed to the poker hand of b-plans I’m masticating at the moment. My path to venture capital is analogous to yours – perhaps 3 base pairs of difference. I transitioned from medical school, spent time in the consulting world and returned to business school prior to entering the world of VC. A few of your readers asked whether the flame that lured us still burned as brightly, or perhaps even singed us. From my perspective, the flame has now become a constellation of brightly burning bodies that continue to excite me and that continue to forge the tools for the practice of medicine and science. A light that touches potentially everyone. I was burdened by the notion that I was abandoning clinincal pursuits and that I had abandoned the pursuits of medicine and science. I can only say with clarity now that those concerns could not be farther from the truth. The value of ALL of medicine and science is measured through application and utility, and venture investing, which enables and facilitates application and utility, is in fact the light side…not the dark side.
You have exciting times ahead of you!
Tony

]]> By: almost retired http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-103211 almost retired Mon, 04 Jan 2010 02:33:18 +0000 http://www.xconomy.com/?p=43316#comment-103211 Charlotte, Finally got around to reading your article. You are as always cleaver and fun. Do you wear the ruby red slippers with those hose? I grew up in Kansas City and the Kaufmann was about the only biotech industry in the city. How interesting that his legacy should champion your transition. I look forward to hearing more. Charlotte,

Finally got around to reading your article. You are as always cleaver and fun. Do you wear the ruby red slippers with those hose?

I grew up in Kansas City and the Kaufmann was about the only biotech industry in the city. How interesting that his legacy should champion your transition. I look forward to hearing more.

]]> By: New to biotech http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-87166 New to biotech Thu, 15 Oct 2009 17:18:54 +0000 http://www.xconomy.com/?p=43316#comment-87166 Thanks for taking time to reply. Thanks for taking time to reply.

]]> By: Charlotte http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-87150 Charlotte Thu, 15 Oct 2009 15:50:01 +0000 http://www.xconomy.com/?p=43316#comment-87150 Dear New to Biotech, I've been contemplating how to answer your great question of pressure and time. Seeing as how it took me short of forever to answer your post, I'd say VC takes a lot of my time. I agree that 24/7 lab work had a lot of pressure, but it was also more of a solo event -- were I to sleep in one day, it was between me and my cells. Now I'm responsible for meetings and physical deliverables with direct consequences.From what I have experienced so far, VC is a 24/7 event tempered with an acute sense of 'having a life'. When VCs take the time to have a life, they do it in style. (Happy hour keg tappers replaced with Sommeliers).I keep banker's hours, but it seems like I'm working harder now than I have before. Perhaps that's the vertical learning curve (jumping into biotech AND business) and the need to hustle. The real time information content I digest is enormous. As for things not going as planned -- there is the similarity with science. Nothing goes as planned. VC requires living in a fluid state in all axes, which generates its own pressures. And talk about your delayed gratification -- creating a biotech company takes years. Dear New to Biotech,
I’ve been contemplating how to answer your great question of pressure and time. Seeing as how it took me short of forever to answer your post, I’d say VC takes a lot of my time. I agree that 24/7 lab work had a lot of pressure, but it was also more of a solo event — were I to sleep in one day, it was between me and my cells. Now I’m responsible for meetings and physical deliverables with direct consequences.From what I have experienced so far, VC is a 24/7 event tempered with an acute sense of ‘having a life’. When VCs take the time to have a life, they do it in style. (Happy hour keg tappers replaced with Sommeliers).I keep banker’s hours, but it seems like I’m working harder now than I have before. Perhaps that’s the vertical learning curve (jumping into biotech AND business) and the need to hustle. The real time information content I digest is enormous. As for things not going as planned — there is the similarity with science. Nothing goes as planned. VC requires living in a fluid state in all axes, which generates its own pressures. And talk about your delayed gratification — creating a biotech company takes years.

]]> By: New to biotech http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-86064 New to biotech Thu, 08 Oct 2009 17:44:55 +0000 http://www.xconomy.com/?p=43316#comment-86064 Very enlightening article! I just wonder how much pressure do you have in this kind of “job”. During my post doc and PhD , I was working 7 days a week, at least 11h per day. The pressure to get data was enormous, my boss wanted everything done yesterday. I do believe in hard work, but staying in the lab for 24h doesn’t make you more efficient, actually many times its the opposite . Now working for a company I enjoy the idea of “normal” hours and being much more creative since my brain is not overloaded with information. So how it is in ventures? What happens if things don’t work the way it was planned? Is it 24/7 job or you can actually “have a life”? Very enlightening article!
I just wonder how much pressure do you have in this kind of “job”. During my post doc and PhD , I was working 7 days a week, at least 11h per day. The pressure to get data was enormous, my boss wanted everything done yesterday. I do believe in hard work, but staying in the lab for 24h doesn’t make you more efficient, actually many times its the opposite . Now working for a company I enjoy the idea of “normal” hours and being much more creative since my brain is not overloaded with information.
So how it is in ventures? What happens if things don’t work the way it was planned? Is it 24/7 job or you can actually “have a life”?

]]> By: Melanomanic http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-85720 Melanomanic Tue, 06 Oct 2009 22:58:43 +0000 http://www.xconomy.com/?p=43316#comment-85720 Ah, Dr. Hubbert. I hope that years from now, you will not stare into the mirror of your new Tesla roadster and ask 'What ever happened to the Little Miss Messy I once knew?'. She's now dressed in Gucci and Manolo Blahniks. And of course hosiery. Ah, Dr. Hubbert. I hope that years from now, you will not stare into the mirror of your new Tesla roadster and ask ‘What ever happened to the Little Miss Messy I once knew?’. She’s now dressed in Gucci and Manolo Blahniks. And of course hosiery.

]]> By: AB http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-85523 AB Mon, 05 Oct 2009 17:02:26 +0000 http://www.xconomy.com/?p=43316#comment-85523 Great article! Here are some of the things I noticed when I went from post-doc to VC: 1) naturally, biotech has less tolerance than academia for "lateral science" - the tendency to fill in all the gaps. With cash and competition being matters of life and death for a company, the mantra is to keep pushing forward. 2)soft skills and managing people and teams is critical to success. Most good academic PIs do this, but it's not explicitly taught in academia and you have to face it day one in the business world. 3) the board meetings of small R&D companies are often not unlike lab meetings in academia. Sure, the financials are discussed at some point, the bulk of the time is spent discussing data and next steps. Great article! Here are some of the things I noticed when I went from post-doc to VC:
1) naturally, biotech has less tolerance than academia for “lateral science” – the tendency to fill in all the gaps. With cash and competition being matters of life and death for a company, the mantra is to keep pushing forward.

2)soft skills and managing people and teams is critical to success. Most good academic PIs do this, but it’s not explicitly taught in academia and you have to face it day one in the business world.

3) the board meetings of small R&D companies are often not unlike lab meetings in academia. Sure, the financials are discussed at some point, the bulk of the time is spent discussing data and next steps.

]]> By: Jake Harrison http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84742 Jake Harrison Fri, 02 Oct 2009 20:17:10 +0000 http://www.xconomy.com/?p=43316#comment-84742 Hi Charlotte, I just found this quote from Orville Wyss: "It has never been demonstrated that the cloister is in any way superior to the market place for training a man to think, or that applied science is in any way inferior to pure science as an intellectual effort." Best of luck! Hi Charlotte,
I just found this quote from Orville Wyss: “It has never been demonstrated that the cloister is in any way superior to the market place for training a man to think, or that applied science is in any way inferior to pure science as an intellectual effort.” Best of luck!

]]> By: k http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84458 k Thu, 01 Oct 2009 09:26:48 +0000 http://www.xconomy.com/?p=43316#comment-84458 Exceptional and colorful--informative and enlightening. Your article is written with the flourish of someone who is well read, articulate, educated. It also suggests a waft of honeymoon, a breathless wide-eyed excitement contained just under the subcutaneous tissue of your pen. But I can't help wondering if the lustre of business will erode over the years. Do veterans and converts on "The Dark Side" look back over the wall and regret making good their escape? I'm not suggesting that they do, or that research for the sake of research is more pure or honorable than a fist full of yen, but you've gotta wonder if the grass really is greener... I look eagerly forward to your follow-ups. Exceptional and colorful–informative and enlightening. Your article is written with the flourish of someone who is well read, articulate, educated. It also suggests a waft of honeymoon, a breathless wide-eyed excitement contained just under the subcutaneous tissue of your pen. But I can’t help wondering if the lustre of business will erode over the years. Do veterans and converts on “The Dark Side” look back over the wall and regret making good their escape? I’m not suggesting that they do, or that research for the sake of research is more pure or honorable than a fist full of yen, but you’ve gotta wonder if the grass really is greener… I look eagerly forward to your follow-ups.

]]> By: Will http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84440 Will Thu, 01 Oct 2009 07:57:28 +0000 http://www.xconomy.com/?p=43316#comment-84440 Hey if you ever manage to figure out how to transfer calls would you let me know? Learning to drive is easier than figuring out how to navigate those things that look like straightforward telephones but act like commodore64s on steroids. I usually resort to asking my colleagues to come over and speak to the caller on my phone. Hey if you ever manage to figure out how to transfer calls would you let me know? Learning to drive is easier than figuring out how to navigate those things that look like straightforward telephones but act like commodore64s on steroids. I usually resort to asking my colleagues to come over and speak to the caller on my phone.

]]> By: Charlotte http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84199 Charlotte Wed, 30 Sep 2009 08:39:02 +0000 http://www.xconomy.com/?p=43316#comment-84199 Yes. I currently get paid. Yes. I currently get paid.

]]> By: Anonymouse http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84096 Anonymouse Tue, 29 Sep 2009 22:19:26 +0000 http://www.xconomy.com/?p=43316#comment-84096 But are you getting paid currently? But are you getting paid currently?

]]> By: Sarah http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-84036 Sarah Tue, 29 Sep 2009 17:29:28 +0000 http://www.xconomy.com/?p=43316#comment-84036 It seems that the dichotomy between academic research and biotech research is disintegrating. We are already seeing more fluidity develop between the two camps as we come to the realization that the differences between the two are not as great as imagined. Investigators at many different stages in their careers transition between academia and industry. Academic labs are partially supported with industry sponsored projects, and companies host academic researchers on sabbatical. A culture of dialog and exchange is developing through seminars, symposia, and casual networking that allow academic and biotech investigators working in similar fields to combine knowledge and resources to the benefit of both parties. It is an exciting time to be in science and your unique experiences in both a high profile academic lab and a fast paced VC will position you to be a leader in the scientific community. It seems that the dichotomy between academic research and biotech research is disintegrating. We are already seeing more fluidity develop between the two camps as we come to the realization that the differences between the two are not as great as imagined. Investigators at many different stages in their careers transition between academia and industry. Academic labs are partially supported with industry sponsored projects, and companies host academic researchers on sabbatical. A culture of dialog and exchange is developing through seminars, symposia, and casual networking that allow academic and biotech investigators working in similar fields to combine knowledge and resources to the benefit of both parties. It is an exciting time to be in science and your unique experiences in both a high profile academic lab and a fast paced VC will position you to be a leader in the scientific community.

]]> By: Ajamete http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-83912 Ajamete Tue, 29 Sep 2009 03:52:06 +0000 http://www.xconomy.com/?p=43316#comment-83912 Oh come on, every academic dreams of starting their own company. All the best and brightest do! They just don't want to give up their day jobs and the freedom they have in academia. It take real guts and creativity to meld the freedom of academic science with darwinian drive of capitalism to build something that improves peoples lives and makes VCs rich. Oh come on, every academic dreams of starting their own company. All the best and brightest do! They just don’t want to give up their day jobs and the freedom they have in academia. It take real guts and creativity to meld the freedom of academic science with darwinian drive of capitalism to build something that improves peoples lives and makes VCs rich.

]]> By: Jeanot http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-83872 Jeanot Mon, 28 Sep 2009 22:34:26 +0000 http://www.xconomy.com/?p=43316#comment-83872 The dark side sounds pretty fun, and I'd love to venture into to it one day, although the one thing I'd have a hard time adjusting to is a dress code (if they do indeed exist on the market side of things). Oh, and just so you know, your academic friends will always take your calls. The dark side sounds pretty fun, and I’d love to venture into to it one day, although the one thing I’d have a hard time adjusting to is a dress code (if they do indeed exist on the market side of things). Oh, and just so you know, your academic friends will always take your calls.

]]> By: Fernando http://www.xconomy.com/seattle/2009/09/28/from-academics-to-biotech-a-journey-to-the-supposed-dark-side/comment-page-1/#comment-83827 Fernando Mon, 28 Sep 2009 13:49:12 +0000 http://www.xconomy.com/?p=43316#comment-83827 Welcome to the dark side? No, in fact I think you just jumped to the "market side", and the sun is allways brighter over here. Wish more weird, crazy and brilliant scientists were welcomed on this side. Welcome to the dark side? No, in fact I think you just jumped to the “market side”, and the sun is allways brighter over here. Wish more weird, crazy and brilliant scientists were welcomed on this side.

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