Thanks for posting all this.... I like what Vivek has to say. But by what you have posted... seems like he does start ups with /s “great” intention... and then milks them for big time investor funding, running them for a couple years, collecting small investors like myself... then runs them into the dirt. Sounds like a classic “PUMP and DUMP”. Probably while collecting a huge pay check to “run” them as CEO or something.. I wouldn’t doubt it if those kinds had shorted it back to the ground.. I have been duped by those types before. I always hung on with hope. Then lost it all.
I hope your post gets a lot of attention here.
I gotta go back and reread that stuff... and do some real DD Due Diligence.
What do you think, JayGalt, in simple words?
Side note... “Who is John Galt?” I read that book. Nice name.
I agree with your summation.
Vivek was the leader and creator of many biotech companies where investors were gored and those in the know made millions via pump & dump actions. He demonstrated his ability to use charisma to argue for a noble sounding business goal when the reality was that the only success would be fleecing investors.
After billions of $ invested and Vivek’s net worth had multiplied to > $500 million there are many successor companies with no viable drugs 9 years out and two approved drugs which have a slightly improved effect over existing drugs.
Now Vivek has a new schtick where he has created the meme that Black Rock, Vanguard, Exon & others are wasting money that should have gone to stockholders by investing in woke ventures. Vitek has created a company that would act as a middleman and vet investments for these companies to “protect” pension yields by eliminating woke investments which are less profitable. Vivek has written a book & taken lecture tours to promote this meme.
However as the Forbes article spells out the companies Vivek is targeting stand firm against woke investments and have fended off stockholders proposals for that kind of investment. The companies are performing their fiduciary duties to get the best yield for their investors. The only effect of Vivek’s company’s involvement would be the transfer of a 1.5% fee from the investment yield to Vivek and a layer of incompetency.
The biotech sector is rife with rapacious individuals who use charisma and a glib tongue to attract backers & investors. Investor losses are high and approved drugs infrequent. Individuals use the sector for their own purposes and the effect of their use is the creation of personal wealth, backer & investor losses, the promoting of expensive drugs with low efficacy and safety issues like remdesivir and industry-wide sky high pricing to recover the costs of this inefficient process. Wildly expensive, ineffective drugs with side effects are often promoted by people with monetary interests. The costs are covered by third party payers including Medicare but in the final analysis they are borne by the American people. Thus the Nation is fleeced for the profit of the unprincipled.
This is Vivek’s theatre of operations, his business history. Is it any surprise he can spin a platform to target conservatives? The surprise would be if someone with his history and ties to biotech companies and major pharmaceutical firms would realign against his own monetary interests rather than act to divert additional revenue streams from America & Americans to his companies & the pharmaceutical industry. Even now he is working against American’s pensions in his newest get richer scheme.