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by jariel 2052 days ago
This is a misunderstanding of what communications is.

The world works on information, if you don't take a seat at table, it will be taken by someone else.

The notion that 'communicating' and 'lab work' would be somehow 'competing time and/or resource pressures' overall at the company is nonsense. They are mostly separate activities.

Pfizer doesn't have to 'spin' anything, they are a legit partner in the deal, they can do the release in the US, they will have their brand up there, their name, do the interviews - and they don't have to do anything tricky, they can surely mention their 'no name partner' and win $1 Billion worth of free PR.

A tiny Germany company, knowing nothing about communications, will miss the opportunity to tell the world who they are, to tell their story, to make their name known to another generation of researchers and scientists who might want to work with them, to a generation of bankers, business people who will be 2x more likely to want to 'take the call and or do the deal' because of their reputation.

1/2 of business is communicating, the only successful businesses that don't understand this are the one's that hit on it accidentally.

Pfizer is already a global brand, this is the moment of a lifetime for 'the name of the company I already forget' (see what I mean?) - I had to re-look it up - 'BioNTech' - it's very much make-or-break. If this vaccine is legit they need to start talking about themselves now.

2 comments

Most German companies work like this, they even have their own moniker: "hidden champions". It appears to work just fine, if you're not selling to the public, what's the point of wasting money making the public aware of you? Also, not every company needs to be a Silicon-Valley-style startup which spouts endless PR nonsense about how their stupid internet-connected coffee machine is going to "change the world".
Your cynicism is misplaced (and borderline arrogant).

1) Germany is ~1% of the world's population, and an economy shrinking in size relative to the 'rest of world' quickly, a 'hidden champion' in Germany is almost irrelevant outside it's borders.

The world is a very big place, name recognition matters even within industry settings.

2) BioNTech has been losing money for a few years, they need this deal and everything from it. The CEO has a responsibility to make sure every element of credit is given where it's due.

3) The commenter below mentioned they are 'not small' - this is not quite true - they are 1000 people, which is actually relatively small for such a firm, their massive $20-25B valuation likely comes from kind of earlier understanding that they had a vaccine that was probably working, and such info was slowly leaked out to market over time. The the founder is 'Stock Rich' to the point of '100th Richest German' is really not a big deal.

There going to have to get out there and try to be as well known as some of the bigger brands.

Edit: I should point out that both Space X and Tesla would absolutely not exist were it not for the kind of communications strategy that Musk has embarked upon. Literally his appearance on Stephen Colbert was not only a plea for cash, but a plea for people to 'join the movement'. These things pervade just consumer elements and helps give him power and attention within other, non-consumer facing business operations such as the closed world of 'space'. Having made himself a very famous person enables him to open quite a lot of doors, get a lot of meetings, raise a lot of money, hire a lot of inspired people, which creates a virtuous circle unto it's own once products are materially released etc.. He did a great job of that.

Lookup what "hidden champion" actually means, such companies are highly competitive and successful in the global market with extremely specialized high-tech products in a small niche. Because they have specialized in high-quality niche-products they can focus their marketing money where it matters: their potential customers. And those customers are other companies, not people like you or me. Those companies are also often family-owned and not publicly traded. What's the point of maintaining a big PR circus for this type of company?
Hidden champions are frequently very relevant worldwide, otherwise they wouldn’t be hidden champions since the German market isn’t that big.

They frequently are absolute market leaders in their little niche.

> A tiny Germany company...

Did you read the same article as me? The company started 2020 with slightly less than $5B capitalization. The owners are already top-100 wealthiest in Germany due to an earlier startup working a similar space.

As another poster mentioned [0], they also have US offices and advanced manufacturing capabilities.

[0] https://news.ycombinator.com/item?id=25045177