This all applies to biotechnology also

farmingby kevindooley

Farming vs. Mining
[Via Daring Fireball]

Wil Shipley on farming vs. mining as a metaphor for running a software company:

In the mining model of software companies, the charismatic, flighty founders and their investors stand to make a lot of money. Their workers, their customers, and their secondary investors all get boned, because these companies and their products tend to suck.


I was lucky to work for a biotech company that was a farmer. My wife has worked for a couple of miners. They have the same interest and results – exit strategy and the guys at the top make out like bandits while the rest are hosed.

And because the only real model involves VC investment, it is harder all the time to be any sort of farmer.