There’s definitely a Catch 22 when investing in tech start ups like POET.

Management knows they need two things; time and money

How do they get these things? By being very enthusiastic/optimistic about time lines and product delivery.

Do you think that, if POET said from the beginning we believe we’ll need 5-7 years before we are in a position where we can be a game changer, they would have been able to raise funds at higher stock price levels?

No way. The stock price would have stayed at levels below .20 cents, or lower,  and the outstanding share count would be a great deal more.

unfortunately it’s  the nature of the investing game. It’s not right from a shareholder’s point of view but necessary to some extent