Friday, July 22, 2011

Virtual companies add virtually little to overall economy

If Horace Greeley were alive today — and a venture capitalist to boot (work with me here) — he might turn to today’s life science innovators and say, “Go virtual, young man ….”
“Virtual” is all the rage. Farm out costly activities like clinical trial research and manufacturing, hire overseers to keep those activities in line, build up a contractor economy and get your company to a point (quickly and with little cash burn) where it can be sold.
But does the virtual (read: outsourcing) model make wider sense?

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