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  "documentTitle": "Berkeley Lights (BLI)",
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      "text": "An ex-executive indicated that BLI is an extreme price outlier among lab instruments, perhaps 99th percentile, and that competitors like 10X Genomics are 95-97% cheaper.",
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      "text": "Pricing creates expectations that can't be met",
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      "text": "Cost per run potentially >$15K in consumable chips ($12K) plus reagents we believe to be $4-5K",
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      "text": "BLI price is an extreme outlier among lab instruments, perhaps 99th percentile; leading competitors like 10X Genomics are 95-97% cheaper than BLI; illogical reverse of the razor blade model",
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      "text": "Pricing alienates potential customers who view it as a waste of time",
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      "text": "price percentile: 99th",
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      "text": "An ex-executive indicated that BLI is an extreme price outlier among lab instruments, perhaps 99th percentile, and that competitors like 10X Genomics are 95-97% cheaper. He described it as an illogical reverse of the razor blade model...",
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      "kind": "quote",
      "text": "\"Obviously, the expectation is high...I think the biggest miss they had is probably some of the pricing and expectations. Once you have the price, the expectation goes through the roof.\" - Former senior scientist",
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      "text": "Q: \"So, if you have four runs on a machine that has four of these chips and you need to swap them out every day, that could be $12,000 a day just in consumables? That's millions of dollars a year per machine.\" A: \"Right, yes. That's the operating cost.\" - Former BLI employee",
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      "text": "\"I can tell you that if you go and talk to a lot of academicians about this device, when you tell them it's $2 million, and they just go, oh great, I just wasted time. I'm not buying nothing. There's no way. $2 million is very expensive.\" - Former BLI executive",
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      "text": "\"If you lined up all these biological instruments... 10X offers a dirt-cheap system. It's $60k, $100k... It's a razor blade model. BLI model is the reverse - a $2,000,000 device, and a $2000 chip\".-Former BLI executive",
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      "text": "\"If you lined up all these biological instruments, like every instrument you can imagine for life sciences, I don't know the exact number; it's gotta be in the 99th or 98th percentile on price. It is up there. And look at 10X, I mean, flip this thing on its head. 10X offers a dirt-cheap system. It's $60k, $100k, something like that, easily covered under a grant, and then they sell these consumables. That are kind of expensive, but the margins are great. It's a razor blade model. BLI model is the reverse - a $2,000,000 device, and a $2000 chip\" — Former BLI executive",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Part 2) Former BLI employees/executives: Instrument is wildly overpriced and operating costs are too high",
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