Essays for founders and operators on building and commercializing in FDA-regulated healthcare and frontier biotech, grounded in three decades of operating experience.
Why Manufacturing Is the Real Moat
Why CMC and process, not the molecule, decide who wins.
The Biotech Investment Lifecycle
From seed to exit, and why valuations rise as risk falls.
Healthcare Venture Capital Explained
The power law, milestone financing, and syndicates.
What Makes a Biotech Investable in 2026
The features investors look for beyond the science.
Why FDA Strategy Determines Valuation
Why the regulatory plan drives value more than the molecule.
Common FDA Mistakes That Kill Startups
The avoidable regulatory errors that sink biotechs.
Regulatory Strategy, Fundraising, and Exit
How the regulatory plan shapes capital and exit value.
How to Commercialize a Biotech Innovation
Why approval is the start, not the finish, of building a business.
From Lab to Market: Biotech Scaling
Why scaling, not the science, is where programs stall.
Why Great Science Fails Without Commercialization
The traps that sink strong science short of the market.
The Future of Healthcare Investing
Platforms, AI, precision, and the fundamentals that endure.
Why Precision Medicine Will Dominate
The converging case for precision, and its real limits.
The Shift From Treatment to Prevention
Why value is moving toward detecting disease earlier.
Why Investors Misprice Regulatory Risk
The psychology and incentives behind a costly bias.
Why Valuations Ignore Regulatory Reality
Why market-size math overstates value, and how to fix it.
Drug Development Is a Systems Problem
Why failure is usually systemic, not just scientific.
The FDA Approval Timeline Misconception
Why approval takes so long, and what the time buys.