Hypothesis: it is easier to hire all-star employees in bio than in tech

1- No FAANG golden handcuffs.

The Pharmas pretty ubiquitously suck to work at, the HQs lack the bells and whistles of tech, and pay for junior people is easily matched by a startup
2- Less founder culture in bio.

Bad for creating new bio co's, but great for hiring. Scientists are much more likely to look for a job than try to start a company
3- Less competition.

The activation energy to start a bio co is higher than tech, so fewer make it out of the gate. [does anyone have #s on this? this is an educated guess]

You can't do much in (traditional) bio without at least $100K

Less co's = less competition for talent
4 - Very specific mission motivation.

Some scientists spend 10+ years specializing in an area of bio. If you are also building in that area, the match is evident

(this has been a huge lever for us)

This is AFAIK less common in tech
Bio founders, employees - do you agree/disagree/have variables to add? cc @kamens @ntilmans

thanks @danielgross for the inspo w/ your founder hiring article dcgross.com/the-human-perf…

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More from @celinehalioua

12 Jul 20
Building a biotech company in Silicon Valley is amazing, but I quickly learned to not take common startup-isms at face value & to validate for myself that they translate over to building in bio. Many don't. Here's some differences I've noticed so far: celinehh.com/tech-vs-biotech
& a few faves:

TECH: Rolling derisking, early signs of product-market fit
BIOTECH: Derisking comes in bursts over years (biological milestones), early signals less reliable

TECH: Outsourcing product development or engineering unadvisable
BIOTECH: Common to use contractors
TECH: Can create a new market
BIOTECH: Markets are diseases and therefore public domain

TECH: Markets are winner-take-all
BIOTECH: Many winners
Read 4 tweets

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