Thanks man
yup - my girlfriend says the same thing I embrace it
We met with an expert in the field. The market for this device is minute. I knew it it was a small market initially that we could sell to but it is minute. This doctor literally put the MD/PhD dude in his place. I talked to the other partner in the group who bowed out and said he wanted 0% equity. We had an hour talk at lunch at the cafeteria (they were handing out mardi gras beads which was pretty cool to see everyone in scrubs with mardi gras apparel) and he said to chill regarding this issue as if I am going to get into the MD/PhD program I will probably be working with this person for the next few years (he is years ahead of me). Not only that but when we sat down at dinner to negotiate, I kept my mouth shut to let him take control and absorb information to gain intel. They were grilling me on why I needed an MD/PhD in an informative way and by the grace of God the MD/PhD dude said you should listen to what I have to say because I’m on the admissions board for the MSTP program (MD/PhD) at the school.
I shut up at that point. We didn’t even get unfriendly. This device has such little potential revenue and profit but I still want a piece. My interest for a piece in the company significantly declined after weighing the potential amount of scholarship money to be gained by admission to the MD/PhD program for that particular school. Now I have to be best buds with this dude. He’s cool and smart but secretly very arrogant and says some things about things I know in the medical field that I strongly disagree with him about. Mainly yesterday he said monkeys were dying on THC research trials due to vaporization techniques in delivery. I plan to study the theraputic effects of THC in school among two other things in neuroscience and I wasn’t going to let that slide. This conversation was earlier in the day and I was like the clinical studies are either wrong or inconclusive. He gave like three points why they were legit and I refuted each point which I saw really pissed him off but he is so introverted he doesn’t lash out, he just looks down and acts defeated. Long story short, I need to be bros with this dude now so my equity slice in our product can be significantly decreased due to the lack of high profit potential for the device as well as the fact that he is one of the gateholders to me getting the $600-$800k scholarship which significanltly outweighs the short term profits we will gain from this device. He wants to go the medical route for the device which will take years and FDA/Medicare approval and I thought we could take it straight to the market and sell it as a consumer device which the doctor said yesterday would be possible but the potential in general for this product is much lower than expected. I knew the market was smaller than he thought but yesterday the expert doctor in the field we interviewed said he never prescribes this type of product and that there are chemical alternatives in the market making up for the need for our diagnostic (physiological vs psychological) product.