Looking back at your mistakes, what specific thing should you have paid attention to? Or paid too much attention to?

Back in 2021 I invested in Axcella. It was a biotech company that was looking to treat NASH cirrhosis. Had very promising results.

But what I completely neglected is that they just didn’t have the money to continue with a Phase 2b or 3 trial. They only had a few million dollars but creating a drug like that takes upwards of 50-100 million dollars. They spent about a year and half begging investors for money before completely going bust.

In hindsight, investing in a biotech company that didn’t have money was stupid.

Actually, it was very fucking stupid.