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How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

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101–110 of 251 posts

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#101

>It’s a VC’s job to keep the door open. Many were ‘blown away’, then passed before the second meeting. This is normal. I'm sometimes working with US-Americans and not being US-American myself, I feel like this is also a US-cultural thing? In important meetings with US stakeholders I struggle to read the room because everything is always 'awesome' and 'amazing', there's rarely upfront criticism. Honest feedback has to…

Part of it is they don’t want to burn a bridge with a person or a team. They may want to be there when the team gets a better idea.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#102

> I heavily prioritized male investors. Every time a female investor converted, I asked them to help me find male investors. Does the above statement seem bigoted?

> I heavily prioritized female investors. Every time a (male) investor converted, I asked them to help me find female investors. This is the text I'm seeing on my chrome /mobile android browser, would be funny if we were being shown different versions, but it seems as if you might have made a mistake there.

I heavily prioritized female investors. Every time a (male) investor converted, I asked them to help me find female investors. However, female investors were harder to find, slower to reply, ghosted me more often, did much more diligence, and were harder to convert.

That’s what I see. I assume GP was trying to make a point.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#103
post #80

I had two thoughts on this: 1. Is it even possible to bootstrap a biotech fund if you’re not rich (min 10mil net worth)? The author doesn’t really say why they even need funding but I imagine biotech has a lot of up front costs. 2. Given how you can “game” your pitches - from the VCs perspective isn’t this bad? Wouldn’t that mean potentially bad companies could “con” you into funding them? I wonder what the downside…

"Given how you can “game” your pitches - from the VCs perspective isn’t this bad? Wouldn’t that mean potentially bad companies could “con” you into funding them?" It's pretty similar to gaming job interviews. But in my experience, VCs are very good at reading between the lines, to the point that they sometimes understand the pitch better than the person making it. I don't see anything here as gaming it though. Some V…

To a large extent investing is about pattern-matching. You are basically looking at the same situations day-in, day-out for years. You see what works, try to fit it in a box, etc.

This is kind of a doubled-edged sword situation though. After a certain point, you just start blocking situations out mentally. You try to take shortcuts by just looking for X. You don't react when the world starts changing. If you are in an environment where your sample is very tainted (which happens in VC), it is also very easy to actually get reinforced on situations that aren't optimal (this is why most VC funding goes to people who know each other).

I would characterise myself as someone unusually able to switch my thinking when required and I still have a long list of rules that seem basically arbitrary to an outsider (for example, if the CEO has a knighthood, the company will likely do very poorly)...and no pattern is foolproof (the obvious example is Tesla, I don't tend to invest in companies where the CEO is a habitual bullshitter...most of the time that rule works, in that case it didn't work so well).

But investing is about pattern-matching, it can be extremely arbitrary. If you are looking to raise money, I would consult with someone who understands the market you are trying to raise in (i.e. so you can pitch to that pattern...I don't think it will improve your odds of success but it will mean that the funder understands what the situation is), and remember not to take it personally.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#104
I've got a poll for folks in the thread who are interested in the space - what other services would you use for your dog that aren't out already? - Genetic testing to understand the best diet (and then a subscription for that food)? - Insurance so you can pay for surgery + clone your dog when it passes away? - Something else?

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#105
post #69
post #39

Sounds like they're just commercializing the work done by the Dog Aging Project: https://en.wikipedia.org/wiki/Dog_Aging_Project .

This would be a good comment if not for the word "just", which makes it sound like a shallow dismissal. (" Please don't post shallow dismissals, especially of other people's work. A good critical comment teaches us something. " - https://news.ycombinator.com/newsguidelines.html ) The link to relevant other work is most welcome, of course.

"Just", because the blog post sounds like it was doing fundamental basic research on longevity based on brand new ideas ("I was chatting with some friends about how I thought I had an idea for how to make dogs live longer."), instead of commercializing on existing research. It wasn't my intention to be dismissive.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#106

I would estimate the chance of this startup actually finding a way to increase life span below 1%.

You can’t win a lottery without a ticket

To paraphrase Feynman, the odds of winning the lottery are essentially the same whether or not you buy a ticket.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#107

I've got a poll for folks in the thread who are interested in the space - what other services would you use for your dog that aren't out already? - Genetic testing to understand the best diet (and then a subscription for that food)? - Insurance so you can pay for surgery + clone your dog when it passes away? - Something else?

> clone your dog when it passes away

I love how the darkest dystopian outcomes for humanity are kinda just fine to try out on our pets. Here, Fido Ten, good boy!

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#108
post #60

>Loyal is developing drugs to extend dog lifespan and healthspan. Wow this is a huge undertaking. I wish you luck and I don't mean that sarcastically! If you can do that to a dog, it seems trivial to extend to humans. Have any drugs or supplements extended dog lifespan in the literature? Rapamycin I guess?

"Trivial" might be underselling it. Increasing a dog's lifespan by 5 years is massively noticeable. I've never seen a 20-year old dog. Adding 5 to a human's health is beneficial but isn't nearly as noticeable. This is ignoring the magnitude of differences between dogs and humans. They're mammals, sure... I can't recall just how many "successful trial on rats" stories have we gotten on HN that have to be tempered by r…

Adding 5 years to human life would be worth a trillion dollars. There are 1 billion people that would pay at least 1k for thst.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#109

> “Yeah none of the partners here have a dog and [X head partner] actually really hates dogs” Please, please, please name this firm. For the good of all founders.

Unless you are also doing a dog-related startup, I don't think that´s relevant.

I also dislike almost everything about dogs, but unless an office becomes "pet-friendly" (=dog-friendly because no one is going to bring their cat/parrot/turtle/fish to the office), is unlikely you will ever notice.

Re: How I raised a $5.1M seed as a first-time, female, solo founder for a biotech co

#110
post #53

Earlier quoted context omitted.

That information isn't public. I'm a mod here (in case that wasn't clear), so I looked at the private data. Edit: if you meant what you can tell from public information: (1) sudden drops in rank, as walterbell points out downthread—(edit: but it's important to know that sudden drops in rank can also be because of the flamewar detector, which is unrelated to flags), and/or (2) the [flagged] annotation, which appears w…

Oh I see. It seems that it would be difficult to report a big drop in rank unless you’re frequenting tho. I guess I should turn on the show dead to see flagged posts

[flagged] and [dead] aren't the same, but if enough flags occur relative to upvotes, the thread will eventually also become [dead] - however, not if there's an active discussion already. So 'showdead' might not do much for you in this specific situation.
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