Diagnostics Isn’t Broken. Our Model for Evaluating It Is
Investor sentiment has turned against diagnostics, but for the wrong reasons. Recent failures have hardened a lazy narrative that the category is fundamentally flawed, when the real issue is that many tests have been judged without enough attention to what their sensitivity profiles could realistically deliver. This post unpacks where the market got it wrong, why the arithmetic matters, and where the next generation of diagnostic winners is being built.