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The Biotech Delusion: Things No One Wants to Admit

mattshlosberg.substack.com · 1,158 words · saved by 1 readers

Why Most Biotech Startups Don’t Fail — They Just Quietly Decompose in Full View of Everyone

The Biotech Delusion: Things No One Wants to Admit Why Most Biotech Startups Don’t Fail — They Just Quietly Decompose in Full View of Everyone Matt Shlosberg Dec 04, 2025 279 46 23 Share Biotech loves to pretend it’s a startup ecosystem. It’s not. It’s a casino where the house edge is physics, biology, and the FDA , and most players don’t realize the roulette wheel has 400 slots instead of 36. Biotech people like to picture themselves on the frontier of scientific progress. But let’s be honest: half the time we look like raccoons rummaging through nature’s dumpster hoping we find something tha

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