[biotechbio]

I have had friends tell me forecasts like this with complete confidence. Just curious- what industry? What info do you know that convinced you to believe this? Eager to hear whatever you're willing to share.

Look at the last 12 months. Multiple sub-sectors of public equities down >80%. Do you think people saw that coming? If they believed it enough to bet on it, the opportunity to profit was huge. That's to say nothing of private valuations.

And yet every startup with some traction and a proof of concept PMF seems confident an exit is on the horizon. Maybe for parts of the last decade this was true, but now...