NVTA - Invitae Short Thesis: The WeWork Of Genetics

“We have been living and illusion that revenue and growth equals success. Even the press goes for it”

-Bill Gurley

1) Invitae: The Amazon of Genetics?

Invitae’s social mission is to provide affordable genetic testing for all. This has somehow earned them an Amazon.com moniker. Basically, near-term losses are a path to market share, economies of scale, and network effects. This will subsequently translate into dominant market share and one in a lifetime returns for shareholders. Management has readily encouraged these comparisons to the Internet giant.

They even include them in their investor presentations…

So,