Welcome to the club
It seems as if Jeff Dachis and his minions at OneDrop aren’t too happy with us here at Diabetic Investor. Yes Mr. Dachis has taken a page from the President Trump playbook and gone to Twitter to air his displeasure with our recent comments regarding his company. Mr. Dachis then followed up this tweet storm with a series of emails to Diabetic Investor.
Now let’s make a few things clear since Jeff seems to believe we are picking on his poor little company when all they are doing is trying to help patients with diabetes. As if Diabetic Investor is some kind of bully kicking sand in the face of a poor defenseless child.
First off, we have long maintained that interconnected diabetes management (IDM) does have the POTENTIAL to help patients better manage their diabetes. We have never claimed this approach does not work. What we have maintained is,
1. Most of these systems are targeting insulin using patients and this is the low hanging fruit when it comes to IDM.
2. While all the companies in IDM claim they can help ALL patients not just those using insulin there is little evidence that this true. More on this point in a moment.
3. All the companies using a way cool whiz bang conventional point to point old fashioned glucose meter, even when they are put in a shiny new box, are in danger of becoming obsolete as CGM will replace old fashioned SMBG in the very near future.
It’s the second point that bothers Jeff the most as he seems to believe it’s ok to use self-reported data and fuzzy math and then tout these so-called results as proof his system works. What we have maintained and will continue to maintain that if the OneDrop system is as great as Jeff claims it is it should show that in a real clinical trial. A clinical trial that does not use self-reported data and shows a direct link between using the OneDrop system and outcomes improvement.
Yes, we know that the clinical trail process can be long and expensive but OneDrop is not some poor little company struggling to survive as Jeff claims. Jeff to his credit has done very well for himself and quite frankly could afford this process. He’s also very well connected and has proven he knows how to raise money. So even if he didn’t want to foot the bill personally if his system really is that good he should be able to find investors.
Frankly we have nothing against Jeff or the good people at OneDrop. However, having been around this wacky world for over 20 plus years we have seen this movie before.
It’s ironic that Jeff and OneDrop are teamed with MannKind (NASDAQ: MNKD) as MannKind’s founder the late Al Mann was a master at shameless self-promotion. Don’t get us wrong Al, god rest his soul, deserves to be on the Mount Rushmore of diabetes greats. Medtronic (NYSE: MDT) owes Al a huge debt of gratitude for the team he assembled that built MiniMed into the powerhouse it is today. Al may have had some faults but patients with diabetes are better today because of his efforts.
Still Al being the master of shameless self-promotion was famous for making outrageous claims that would garner what he wanted all along, attention and free publicity. We suspect had Twitter been around while Al was young he’d be able to go head to head with President Trump when it comes to a tweet storm.
Listen we have no problem with Jeff doing whatever he can to draw attention to OneDrop and what they are trying to do. OneDrop as far as we know is a for profit entity and does have a responsibility to its stakeholders. The goal being a liquidity event, i.e. selling the company for a juicy multiple. This is still America and thank goodness capitalism is alive and well.
No, our problem is quite simple stop using self-reported data and fuzzy math and subject OneDrop to the rigors of a real clinical trial and yes, it is that simple. As far as practicing shameless self-promotion please and we do mean this please don’t stop as it makes for some great copy.
Now a few more points before we go. Frankly Jeff and the good people at OneDrop should be honored as they have joined a long and distinguished group which includes Dr. Steven Nissen that crusading cardiologist, our chardonnay guzzling friends in France, the West Coast Mafia and recently our good friends in that beautiful city of San Diego the folks at Tandem (NASDAQ: TNDM) just to mention a few who have been targeted by Diabetic Investor.
As we noted yesterday Momma Kliff did not raise a cheerleader. Thankfully Mom taught us to think, perform our due diligence and not to be shy about expressing our opinion. As she said often, “When it comes to rough and tumble world of business if you want a friend get a dog.”
Next, we should remind everyone that Diabetic Investor is a copyrighted publication and that it is illegal to share our posts with anyone who is not a subscriber without our permission. More often than not we give permission all you have to do is ask. Diabetic Investor is many things but contrary what the folk at OneDrop may believe we are not a bunch of meanies.
So, Jeff if you want to have it that’s fine by us. And honestly, we hope you prove us wrong as we would like nothing better than to be proven wrong because this isn’t about OneDrop or Diabetic Investor this about patients with diabetes. Patients who continue to suffer despite the millions, no more like billions, that has been spent on way cool whiz bang toys.