Biotech, boom or bust?

Just read this in the Economist today about the biotech industry:
"Its American stockmarket value is up tenfold over the past decade, to about $500 billion... (but) Thirty years after the biotechnology revolution began, the industry has yet to turn an aggregate profit. Take away the huge profits of a few success stories such as Genentech and Amgen and the picture darkens further. David Beier of Amgen estimates ath thte industry as a whole has lost $100 billion since its creation in the 1970s.
...most biotech firms are start-ups that have no products and little clue about how to convert their wizardry into things they can sell."

To be fair, the article later mentions how biotech can probably survive by teaming up with big pharma looking for promising new drugs developed via biotech. But with current uncertainties in both industries, I wouldn't invest in either 'cos its too big a gamble!

In other news, today's papers reports that construction contracts are expected to rise 19% this year. So I guess we need civil engineers after all huh?

Uber burger!

I tried this new restaurant called Uber Burger yesterday night. They're the ones who sell the $101 burger which has truffles-filled bun, foie gras, and wagyu beef. If that type of beef really is so good, I wonder why anyone would grind it up into a pattie? After all, aren't ground beef patties the worst meat you can find 'cos you probably can't tell the difference? Anyway, that burger costs too much, so I went for the $15 sirloin-porkloin burger. The burger bun was the healthy variety, a tad hard and with oats/nuts on it. The pattie was so fat and juicy you can hardly fit it into your mouth! I saw some ladies actually cutting up the bun and pattie into pieces and just forking it into their mouths like that. No no, that's not how you eat burgers man! No matter how thick it is, you gotta squeeze it flat and bite it straight!

After dinner was beer at Paulaner Brauhaus. They really have only 2 types of homebrew, light and dark. That's quite different from the large variety of inhouse brew I expected (like Brewerkz or Pyramid's). I had the light one, very malty and really fresh and good! The band was also good. One of the former Singapore Idol finalists, Beverly, was on hand to make a guest performance. Pretty good singing!

In other news, DJ SINGAPORE PRESS: DBS Bank Loses Two More Executives. 6% of the upper management of DBS have resigned so far. Time to bank with someone else? From the moment they had the fixed deposit box screw up some 1-2 yrs ago I knew they were going downhill.

In other news, Perry Tong, our very own Berkeley Alumni with a First class honours in Poli Sci, is running for elections in Singapore with the opposition! Go Bears!

clowns and the stick

A week or so ago I remember reading somewhere about a few foreign clowns who travelled all over Iraq bringing cheer to young Iraqi kids with their hilarious routine. I thought this was probably the most noble act, bringing joy and happiness to the war-stricken youth. Just this weekend, 2 of the clowns were brutally murdered by disapproving Iraqi militants. The bastards ambushed the clowns and covered their vehicle in a hail of gunfire. So they oppose the occupation, oppose modernization/capitalism/democracy and all that shit. But come on, a couple of harmless clowns cheering up your kids? Every one of those militants deserved to be punished in a war crimes tribunal. Unfortunately most of them will probably get away scot free when the allies finally pull out......

I'm taking lessons to learn to drive stickshift. And it's a living hell! Did somebody tell me you can learn to drive a stick on your own? You got to be kidding me man! I got honked at so many times for stalling at traffic lights! Reminds me of the time somebody tried to race with someone down Shattuck the first time he got into a stick car, and ended up stalling before he even got going! (you know who u are, don't deny it!) At least my booboos weren't that embarassing! ;)