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      "text": "PROPRIETARY DIGITAL CELL BIOLOGY PLATFORM, The Beacon Optofluidic System, DEEP OPTO PROFILING, OPTOSELECT CHIPS, OptoSeq Barcoded BCR, NanoPen chambers, nanofluidics",
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      "text": "BLI is a one product company, selling a lab instrument called the Beacon – for $2 million. Launched in 2016, it comes in an entry-level version called Lightning, which ex-employees indicate is an even bigger flop with only 6 to 8 units sold in its first 18 months. What BLI’s technology does is not easy for investors to deduce. Even in an era of fraudulent “black-box” IPO’s that reveal scant details and mesmerize investors with fancy jargon and sky-high TAM’s, BLI stands out for the number of nonsensical phrases, newly-invented words, and drivel it uses to describe itself.",
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      "text": "Source: BLI JP Morgan presentation; BLI website",
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      "text": "1) Introduction to the real Berkeley Lights; warning signs of a looming collapse and other red flags",
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