After much fanfare and anticipation, Nanosys has withdrawn its IPO filing. It's rather a bummer and a small deflation of the nanotech sails, as many investors, analysts and other tech companies were waiting to see what the IPO would go for as a benchmark of sorts for the valuation of the industry.
What I find interesting about the article is the rather dark and dreary outlook by John Doerr on nanotechnology, implying that somehow nanotechnology will turn out to be a sham. We all know that every technology and industry has its con artists, but it's odd that he seems to be down on the whole scheme of teeny-tiny technology. Or perhaps he meant that it's all much too bally-hooed and won't reap the profits currently people think it will, which is not far-fetched.
But is it really that surprising to folks that it may take several years still for these technologies to reach the consumer market? Even with it being trumpeted in nearly every major tech publication, the tenor of the articles usually seem to say "some day you may have x, y or z ..." not "tomorrow, you will be able to leap tall buildings ... ." When you're dealing with new machines on that scale, and looking at a revolution in how we do business, fight wars, fight diseases and conduct even mundane tasks, it's not completely unforeseen that a little time might be needed. That may infuriate some investors who don't want to wait that long just to see (and that's understandable). But defrauding the public? That seems a bit too strong.
Here's to hoping that Nanosys is simply postponing its IPO for a short while and will be back and ready for the fight to prove the skeptics wrong.
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