Peter Thiel-backed Breakout Labs has added four new startups to its ranks, including one that’s developing non-electronic, shape-shifting temporary tattoos that convey health information.
The grant-making outfit, which spawned from the Thiel Foundation, tends to fund mildly wacky, but fairly awesome ideas — if they work. But because they’re so early stage, grants are capped at $350,000. The rationale is very Thiel-esque, according to Hemai Parthasarthy, the organization’s scientific director. The funding is to help establish proof-of-concept and de-risk a startup, she said, but then there’s an effort towards establishing lean business practices early on:
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As usual, Thiel slings the BS. As recent as today I was in the Verizon Wireless store. They have no stake in smartwatches, but they say wearables are flying off the shelves, even the ones with the $10,000 diamond encrusted watchband that you need to buy if you want to keep up with the Kardashians.