[comstock]

True, but their competence isn’t is science based startups. In all honesty I think that makes them in general gravitate to Bio tech plays which involve a lot of traditional Tech. The thesis is easier, but much less likely to result in high reward.

[lsc]

my implication was that this is (to my knowledge) the first round of silicon valley biotech startups, and if it's like the first round of webapp startups, there will be a lot of failures, but the seeds will be planted for greater success in the next round.

My main point was "perhaps the first round failure is necessary" - of course, I weakened that with my assertion that this second tech bubble is also a bubble and bound to burst.