Biosplice, once the world’s most valuable biotech startup (reaching a $12 billion valuation in 2018), is laying off nearly a quarter of its workforce and has stopped internal development of one of its late-stage medicines, a treatment for hair loss in men, with hopes of licensing that program to another drug company. As VC funding for biotech companies becomes harder to obtain, patients are the real losers.

Venture capitalists have poured $42 billion into drug development over the past three years. Most small biotech companies rely on venture capitalist funding to develop new drugs but is that a good way to go? not necessarily. VCs invest money in biotech because they see a potential windfall via a profitable acquisition or sale, but when the FDA weighs in with delays, VCs can be ruthless.

One of the reasons it’s a job-seekers market because candidates today want more from their employers. They want a good work-life balance and want to be valued as a contributor to the success of their company. We live in an instant gratification world. Anything and everything we could ever want is at our fingertips, from the food we eat to the movies we watch. Even just waiting a week for delivery seems like an eternity when consumers are accustomed to things like Prime shipping. So why do companies treat the job process differently? Are job seekers inherently more patient than society as a whole?