The Financialization of Disruptive Technology
The Agile Manager
SEPTEMBER 30, 2019
A recent FT Lex article on biotech investing drives the point home: "A 20-year study found only one-fifth of exits were profitable. This took advantage of a unique characteristics of software vis-a-vis its industrial (hardware) predecessors: real-time adaptability. Investment yields are highly concentrated. Picking winners is hard.
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