+0.0
net board stance
what this means
6.92
-0.4% · close 2026-09-08
-13% / -16% / -38%
1m / 3m / 12m
-195%
vs SPY since 2023-01-06
14%
of 52w range · -57.1% off high
—
hit rate as primary
Where we stand — 0 live ideas
No active idea holds this ticker. Anything below is history.
Where the winds are blowing
NET BOARD STANCE, LAST 60 EPISODES —
rising = the besties are building this position, falling = abandoning it. Replayed from
score_events; an idea counts from birth until its window closes.
PRICE VS SPY OVER THE SAME WINDOW, % — did the
talk lead the tape or follow it?
Who's pushing which way
each voice's net push ON THIS TICKER — their most recent stance per idea × the idea's direction × strength, so supporting a bearish idea pushes down. Not conviction (that lives on the idea); this is direction of travel per person. what w= means
Track record on DNA
No closed window has used this ticker as its primary play, so there is no scored record here yet. Adjacent plays are listed but never scored.
| idea | call | play | verdict | R | α | closed |
|---|---|---|---|---|---|---|
| 📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap | ▼ SHORT | adjacent | HIT | +52.7% | +28.8 | 2024-04-28 |
| 🤖 Synthetic biology's Netscape moment | ▲ LONG | adjacent | MISS | -59.2% | -62.6 | 2023-05-13 |
The tape — what was actually said
every capture on any idea holding DNA, newest first · quotes verbatim, timestamps deep-link into the episode
Friedberg
support ×2
▼ on
📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap
E170 · 2024-03-15
▶ 1:23:55
That is now the entirety of the rennet industry is recombinantly produced rennet. The entirety of cheese that we all consume is made using this genetically modified yeast that makes this enzyme that converts milk into cheese.
Chamath
support ×2
▼ on
📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap
E170 · 2024-03-15
▶ 1:30:38
It still makes no sense, because the only reason they would do it is if they were afraid that the lab-grown meat was just so much cheaper and frankly so much tastier than what they make. And Friedberg, you've said this many times. We are so orders of magnitude away from it being...
Hundreds of millions of dollars, and in several cases, billions of dollars have gone into these systems, and it's very likely that these companies may need several more years and several billion dollars. We are going to get there. The technology is progressing. The rate of progress is a little slower, and it's a little more challenged, I think, than the first round of investors had hoped.
Jason
support ×2
▼ on
📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap
E126 · 2023-04-28
▶ 1:06:33
They're like... It's like eating something mushy that's 60% of an average hamburger. It's not worth paying double for, certainly, for somebody who's a hamburger eater.
Chamath
support ×2
▼ on
📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap
E126 · 2023-04-28
▶ 1:01:42
I think it's just a very complicated, long drawn out process. And I just wonder if the people that are in these businesses, if they actually love food or not.
Friedberg
support ×3
▼ on
📈 Cellular meat is uneconomic this cycle - alternative protein is a value trap
E126 · 2023-04-28
▶ 1:03:37
So I want to just get back to the unit economics. The cost per kilogram or the cost per gram of the protein, we are still many orders of magnitude away on cellular meat. So the problems you're laying out are really down-the-road problems of optimization. Right now, we've got more fundamental problems on how do you actually get this stuff to be cost competitive.
But the industrialization, the amount of capital these guys raised and what they promised they would deliver on when turned out not to quite beat the economics, not to quite get there. And the market decisions they made about what products to go after, how quickly to scale up, building their own facilities. There was just a lot of strategic errors. And I think the storytelling got ahead of where the business was.
Whenever I see these grandiose prognostications of future progress and then see these companies raise exorbitant amounts of money, I have never found a single example where it's ever worked ever. In fact, every time I see a company raise an exorbitant amount of money in a Series A, I write them off in my head. ... And in fact, I've never seen a three billion dollar venture fund do much more than return 2X of money.
And I think it speaks to what I highlighted as what will be the new frontier in biotech and will completely rewrite the course of humanity is if we can take drugs and for a short period of time, completely reverse the age of ourselves. ... And this technology and this is going to be the year I think this will be the front cover of a lot of magazines this year. As people realize that this is real and that it's getting commercialized.
And I think that's really a moment that will inspire a whole new realm of industrial synthetic biology work, a lot of which I hope to kind of build and participate in pretty heavily in the work that we do day to day.
This is why Ximergen and Ginkgo are two really important data points. ... And in that, you're going to have an entire generation of companies get built. It's super exciting. I spend time in and around these businesses without getting too specific.
And I think these two IPOs happening at the valuations that they're happening at and the capital that's going in, I think these are kind of like the Netscape moments for synthetic biology and we're going to see a tremendous amount happen over the next couple of years.