Bar, Your 'perpetual startup' metaphor could indeed be accurate for LWLG, but I'm not really qualified to evaluate their chances since I don't have a good grasp of the science, competitors, etc. Buffett is right that most of us should stay away from the tech sector.
The hardware side of tech seems especially dicey since there's always something new coming along to make the latest gizmos obsolete. In tech I would generally stick with the services and software sectors rather than hardware.
The cool/seductive areas are fun to follow, but steady/boring is better for the bulk of one's investments. Your own investing results over the past 3 decades show that the John Bogle approach is the way to go. I figure that 5% can be allocated to riskier areas to keep things interesting :o)
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