Pharmaceutical companies are among the largest, most profitable, and most strategically important businesses in the world. The top 30 pharma companies represent roughly $5T of market cap. Eli Lilly alone has a market capitalization of over $1T, putting it in a club historically dominated by tech darlings. In Q3 2026 alone, Lilly's GLP-1 portfolio did close to $17B, nearly matching Anthropic's revenue in that quarter. Analysts expect Lilly's GLP-1 portfolio to grow to over $100B in annual sales by 2030. Big Pharma Can Rival Big Software: http://a16z.news/p/big-pharma-can-rival-big-software