I wrote about the psychologic dangers of Too Much Money ! on OrthoStreams in 2019. Today I need to explain this better with an analogy.
There is a dangerous intoxication in orthopedics startup fundraising.
Too many startups mistake a massive capital raise for a milestone, conflating the ability to secure cash with the ability to execute. They become infatuated with a massive Total Addressable Market (TAM), building sprawling empires before they have ever treated a single patient or booked a single dollar in real revenue.
They act big before they have earned the right to be big.
In medtech, capital is not a trophy; it is fuel. And how a company manages that fuel determines whether it reaches its destination or becomes a rusted, forgotten hull on the side of the highway.
The Analogy of the Cross-Country Drive
Imagine the journey of bringing an innovation to market as a race to drive across the country.
The Lean Car: Milestones as Fuel Stops
The lean startup approaches the starting line with just enough gas to reach the next town.
Leg 1: The founder proves the concept, builds a working prototype, and maps out the regulatory and reimbursement pathways. They pull into the first stat...
