Derek Lowe on YCombinator's change of heart for funding biotech:
There's a lot of criticism being thrown back and forth here, with people coming down hard on the Ycombinator stuff (naive, underfunded, etc.), and the folks there saying that they're being singled out mostly because they're not members of the club. Problem is, none of these complaints (from either side) are unfounded. I myself am not quite so sure about all these dramatic cost savings - all the work I've been in on has been, sooner or later, hideously expensive. But Ycombinator can pretty much shut everyone up, though, with something successful, and I think that they should go right ahead and try for it. I don't always enjoy being right.
Biotech seems to be as much of a rich man's gamble as tech. Maybe just for the ultra-rich though.