Investors Can Be Annoying and Science Suffers
“Your market is only $11,000,000. No investor will care.”
What an annoying comment I recently overheard while an investor talked with a passionate tech entrepreneur at 1871. The ent’s facial expression quickly evolved into a hybrid of anger and frustration. Apparently, solving problems doesn’t matter much. Timing and size of ROI matters.
Then I read this Opinion/Commentary from Alan I. Leshner, CEO of the American Association for the Advancement of Science (AAAS):
Let me copy & paste the opening paragraph of the Commentary:
Hefty federal deficits in Canada and the United States pose a significant threat to fundamental, basic research as some policy-makers seem to value near-term, industry-focused science more highly. That’s short-sighted and a shame. Basic research is the seed corn for economic growth and the foundation from which we build solutions to society’s big problems.
Policy-makers and investors are in the same boat. I’ve recognized this in the growing tech/digital entrepreneur community in Chicago where investors are ubitquitous. Let’s not lose sight of what’s important. Money is nice, but let’s spend it on solutions to REAL problems. I’m scared of all the time & money that is wasted on silly apps. Can we stop investing in short-term, technological conveniences and focus on long-term, scientific-based solutions?
And by the way, if that entrepreneur can grab ~10% of the market and build a $1 million company that solves a real problem, that’s a hell of a success! #letUbeU