No
this post was submitted on 12 Feb 2025
81 points (80.0% liked)
Technology
62893 readers
4033 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
I don't need to read an article to know that "no" is the correct answer the question in the title.
They didn't and this doesn't work as intended. They did however create a company to cash in on desperate people.
Reminds me of the time Vivek Ramaswamy bilked investors for over a billion with a phoney Alzeheimer's drug
he helmed the leadership of Roivant, a multi-billion-dollar American pharmaceutical company he founded, and gallantly relinquished his CEO role in 2021 due to his unwavering stance against ESG principles, despite facing opposition from his liberal workforce. While this narrative might seem appealing, it is akin to the endless "flip-flops" that have plagued his campaign—an elaborate work of fiction that unravels upon a modicum of scrutiny.
Let's start with the basics. Ramaswamy has funded his campaign through the sale of over $32 million in Roivant stock options in February of this year. This could lead one to believe that Roivant, based in Bermuda, is thriving and that Ramaswamy is a great entrepreneur. Except the company reported staggering losses of $1.2 billion in its financial report of March 2023. This isn't a one-time slump: In March 2022, when Ramaswamy was still Roivant's chairman and a major shareholder, the company reported an annual loss of $924.1 million.
Ramaswamy's defenders may argue that Roivant performed better during his tenure as CEO in 2021, but alas, the numbers tell a different story. The reality is that Roivant's finances were abysmal under Ramaswamy's watch. During his tenure in 2019, the company's net operating loss exceeded $530 million. By 2020, the losses had doubled to over $1 billion, accompanied by a 65 percent decline in revenue.
This is always the answer.
Is Betteridges Law dead?
no?
Baldness doesn't need to be "cured". There are many many actual diseases where people need real help.
Unfortunately capitalism completely degrades and perverts science/technology in order to make a quick buck, rather than actually helping humanity escape impending doom.
Through UCLA’s Technology Transfer Group, which transforms brilliant research into global market products, the scientists have co-founded a medical development company called Pelage Pharmaceuticals
In case you were curious how this publicly funded research is going to be turned into private profits.
I think this is pretty standard procedure no? Lots of small companies are spin-outs from universities
load more comments
(12 replies)
view more: next ›