"It ended up being a great quarter across the country. The national trend was more on the IT (information technology) side of things. When you look at Southern California and San Diego specifically, it's driven largely by the life sciences and biotech side of things."

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There are other dimensions of biotechnology. If you think of biotechnology like the Internet, it's not a category - it's an infrastructure that can be deployed to sustain or disrupt. In health care, the most complex problems at the high end have to be dealt with in a problem-solving mode by the best, most experienced physicians you can find.

— Clayton Christensen