The most ostentatious display of power and debt

Call me a grumpy old man - or it may be that it is April Fools Day - but what can one make of the fact that the American President - especially and 19 other leaders believe they have the right to the most ludicrous display of power.

3 CEOs of GM, Ford and Chrysler were asked to give up their private planes if they wanted a bail out from the US President! Well how come then that the US President travels in Air Force One, has a fleet of helicopters, cavalcades etc., etc., etc., in order to appeal to the rest of the world to help "rescue" the USA!

And are we really to believe that the advisors, senior leaders and others who got is so badly wrong in the past decade are the very ones who now have the "right" answers? Where is the intellectual debate regarding the problems and solutions? It is just so full of opinions and if we are to be dominated by the "chcago" school of economics I am nervous about how best to advice up and coming entrepreneurs about how to plan for the future?

With leaders more concerned with the display of their power and debt - jousting for positions and sound bites - it seems to me that the "man in the street" will have to learn how to be even more adaptable in the future. It is 200 years ago that Darwin was born and it seems to me that at least in economics - it is going to be the entrepreneurial (adaptable) that will survive.

Sure hard working leaders need security - so why do they not just turn up quietly, do the work and get back to their offices! I am really being a grump - but the idea that as tax payers we should see a kind of Roman Emperor entering the City just strikes me as a distraction from getting the work done!

There I have got it out of the system and hope that the leaders come up with something positive!

Professor Chris Abell speaks on Astex Therapeutics

It would seem that in most countries and in many cultures – there is a clear separation between good science and business. It is almost heretical in the so-called traditional institutions for eminent Professors to engage in enterprise! Well – Cambridge, being among the top Institutions on a global basis has clearly demonstrated that such a schism in thinking is medieval!
The University of Cambridge is celebrating its 800th year birthday and the 200th year of Darwin – all in 2009! And within this context it is refreshing to see and hear a speech that flicks eminently between deep science – stuff that gets published and cited in journals of the highest standard and enterprise that results in raising some $100m venture capital while creating a pipeline of deals with the pharma industry worth over a $1 billion!
How did all this happen? First and foremost – have a big idea – even if it is not entirely clearly articulated or developed. Secondly – gather up the world’s leading scholar – stardust in academic terms. Talk to investors who understand your science and the big idea and set about helping you to shape the big idea into a proposal that can be made to happen.
So – is there luck in this? Maybe – if you think about timing and the economic environment. After all you have to have a bubble you can ride on to raise money relatively easily. But in reality so many great companies have been formed in a downturn – it would seem that a big idea and a great team are far greater influencers of success.
What did a scientist learn from “doing it”?
Starting small in a little office, and funds form Abingworth (venture capital) to fund a number of top quality post docs – got a “soft start” underway.
Started without any IP – and managed to get money for the idea and that the technology would develop and IP generated as a result of further good science in an enterprising environment
Interviewing in a fast growth business is hard and far more time consuming than you can imagine – and it is the scientist who has to engage in this along with other colleagues. It is such a crucial step.
The lab spaces get as cluttered as the University – it is the same mind set of scientists who are employed – but this makes people feel comfortable and “at home”.
Having people who are good economists around enables the company to see the cold winter approach in 2002 and so the burn rate was slowed to ensure that the company can survive any form of economic downturn.
Building the IP portfolio and publishing in top journal has been very satisfactory – giving the people and the company credibility in both environments.