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I'm interested in discovering a cure for cancer as well

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I'm interested in discovering a cure for cancer as well as other related things within the realm of biochemistry/synthetic biology.

I'd like to build my own lab.

Following this post will be a screenshot of my bank account. I am a millionaire in NZD (the house that I live in is worth about $100,000 NZD) but am worth about $650,000 in USD.

I will be graduating this year with a degree in Bachelor of Science in Biochemistry with a minor in Computer Science.

I have heard that it is very difficult for BSc grads to get their own lab (and that they are usually only employable as research technicians). So I was wondering if it would be possible to build my own lab.

The money in my bank account came from a business that I sold earlier this year. I intend to invest the money that I have in order to make a consistent $30,000 per year without touching my principal which means that I will never need to work another day in my life.

tl:dr; I intend to retire next year and live off the money that I've got but I would like to continue doing research as a hobby. Is it possible to build a biochemistry research lab for $30,000 per year?
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>>7667330
>>
>curing cancer
>helping the most parasitic species on eath proliferate
>trying to get rids of natures defense and control method

retardmode.exe
>>
tfw this guy is serious

tfw I need €60,000 for a 6 year M.D. degree

good luck, although I don't think you can buy any cutting-edge equipment with that kind of money and you will have to rely on your talent and personal drive to do this. Making your dreams come true must be awesome.
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>>7667330
Not enough money
You'll stop researching after one week anyway
You'll go into debt in one year's time

Just live off the savings and offer some money to some research institute or whatever.
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>>7667330
>>7667332
>"I am a millionaire in NZD (the house that I live in is worth about $100,000 NZD)"
>Net worth only amounts to 995 271.78 NZD

ayy lmao
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>>7667352
How much money would be required?

I have seen molecular biology DIY "biohacking" labs based off of someone's garage, but their research tends to be low-impact type stuff and they get most of their equipment through eBay to save costs:

https://en.wikipedia.org/wiki/Do-it-yourself_biology

With the money I've got, I was hoping for something a bit more professional than this. Perhaps I could launch a startup based around biochemistry research. Hmm...

The other alternative would be to enrol in a 2 years Masters degree program but I've heard that even those with Master's degrees won't be employable for anything above being mere research technicians in established labs. :(
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>cure cancer
Pretty much as retarded as saying
>stop crime

What crime? Thievery? Assault? Homicide? Rape? Tax evasion?
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>>7667332
>putmeonalistpls.png
>>
Alright *sigh* let's deal with this.

>>7667378
If you actually want to make money the only type of consultation constructs you'd get is in analytical QC for specialized industries. For which you need millions invested in the type of equipment only national labs can usually get (the several different GC columns you need and centrifuges important in the biochem alone would cost more than you have). The people that manage to get private labs started are both rich and have connections to get old equipment at a discount from big companies and the public sector.

In fact the connections are the most important because usually a lab does not have all the equipment needed, so private owners would have connections with academia wherein they would burrow their equipment to departments (and usually house it in on-campus labs) and in exchange get access to university lab equipment.

Also you seem quite naive, there is a reason biochem BS grads are only hired for as lab techs. You don't know anything about applications or the industry yet. You aren't really at a "professional" level yet so you shouldn't waste time on money on this vague idea of "a startup based around biochemistry research" you have.

If you want to work in science as more than a lab tech either get a Biochemical Engineering degree or a PhD in an applied biochem field.
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>>7667389
It's a simplification that is used to communicate the general idea of "defeating cancer" to the wider public. In reality, cancer encompasses a wide range of related diseases with different causes, effects, and prognoses. It's far more likely that we will see progressively better treatments for different cancers rather than the discovery of a single "magic drug" that kills all cancers. But good luck trying to explain that to the public.

(Incidentally, the above is true for aging as well.)
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>>7667330
>less than 2 million dollars
>building a research lab from scratch
top kek, you're off by atleast one digit, if not two
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>>7667330
>the house that I live in is worth about $100,000 NZD
>not knowing NZ has extremely expensive housing
>not knowing even a shithole is roughly $500k and up
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>>7667378

Not the same guy, and I don't deal with cancer, but I do computational bio in regards to neurodegenerative diseases. In order to test one drug, it costs a lot of money. This is because you would need to:

1. Pay for access to a supercomputer (~$50,000 per year). I mention this because I do virtual screening of drugs. I don't know how else you would go about finding candidates.
2. Pay for a team of researchers to work with you (~$60,000 per person). This is optional.
3. Pay for the actual drug(s) to test.
4. Get into contact with MDs (or hire your own) in order to put the drugs through phase I clinical trials.

Keep in mind people with MDs and/or PhDs do not want minimum wage. Also, there is no guarantee that if you do this you can target any kind of cancer and get good results. There are institutes that get millions per year that do this type of work.

Just get your masters, it's a much easier route.
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>>7667370
I have accounts at Kiwibank and ANZ as well. I'm a millionaire in terms of NZD. I'll probably be a USD millionaire by 2020. Not too bad for someone who is still in his twenties. :)

>>7667409
Interesting. Thanks for the information.

It's really unfortunate that the PhD is now considered the "standard" for doing serious research in academia considering that it takes almost twice as long as the standard bachelor's degree (3 years vs 7). Not to mention many PhDs go on to take postdocs which add another few years onto their schooling. I enrolled in my bachelors program with the intention of having my own lab or at least having control of my own research when I graduated. Now I am graduating and all of the positions I am interested in require a PhD and experience. :(

However, I'm not too sure about your comment that PhDs are required for startups. Almost all of the founders of 23andme only had bachelors degrees. Elon Musk never finished his PhD. Heck, Bill Gates apparently didn't even graduate at all. I would think that it is possible to create a successful startup with only a bachelors or none at all given sufficient talent and determination since the restrictions of academia don't apply in the free market.
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>>7667421
You're probably thinking of Auckland. House prices are reasonable everywhere outside of Auckland and quite affordable if you know where to look.

I live in the lower South Island region. You can sometimes find 4 bedroom houses for $20,000 USD here.
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>>7667539
>However, I'm not too sure about your comment that PhDs are required for startups. Almost all of the founders of 23andme only had bachelors degrees. Elon Musk never finished his PhD. Heck, Bill Gates apparently didn't even graduate at all. I would think that it is possible to create a successful startup with only a bachelors or none at all given sufficient talent and determination since the restrictions of academia don't apply in the free market.

bill gates and elon musk didnt make biotech companies though. they made software companies.

the big difference is that to develop software, all you need is programming and comp sci knowledge as well as some working computer hardware.

to do biotech research, you need millions worth of highly specialized high tech equipment, which in turn requires a dedicated facility.

when you're doing software development, you can start a company that operates out of your moms basement or your dads old garage, using nothing but your own personal computer as equipment.
that doesn't really work in biochem research.
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>>7667352
that's the most retarded advice ever from probably someone with sour grapes who has no money at all
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