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Opinion
Matt Levine

Curing a Pandemic Could Make You Rich

Also bailouts, television, corona clauses, stock buybacks and working from home.

Here’s a tweet from Naval Ravikant of AngelList:

It is worth saying that the first part is the hard part; if you could do it in five minutes in your kitchen, then this would be a great strategy, but really it would require money and time for science and clinical trials and regulatory approval and manufacturing and so forth. The second part is also perhaps not trivial, as you’ll want to be able to put a lot of money to work buying call options. Actually pursuing this strategy would require a large team of people—scientists and managers and lawyers and doctors and financiers—and an organization that you’d have to fund with nothing but the promise of future stock-market returns, and you’d have to time the options right, and the market would incorporate news about your work over time, and if you didn’t actually find the cure you’d be out of pocket a lot of money, etc.; it is all in all more of a thought experiment than a viable plan.