In this episode, Dr. Bob Schafer, CEO of Lumos Labs, discusses the company's evolution from the popular brain training platform, Lumosity, to a leader in the development of digital therapeutics for the brain. Lumos Labs is pioneering the use of science-backed gameplay to tackle cognitive issues associated with conditions like ADHD.

We discuss:

- The unique dataset behind Lumosity, with over 100 million users and 8 billion gameplays

- How their extensive research fueled the shift towards digital therapeutics

- Challenges faced by early digital therapeutic companies, and the need for adaptable business models

- Lumos Labs' approach to commercialization and ensuring accessibility

- The future of digital health and medicine in addressing brain health and cognitive function

In episode 25, Halle and Michael discuss the process of building a board for a startup. We cover topics such as the importance of board structure, when to formalize the board, adding independent board members, the primary responsibilities of a startup board, changing board composition, and compensating board members.

We discuss:

- Why it is crucial to consider the right board structure

- How many board members startups typically have at each stage of the company’s growth

- The primary responsibilities of a startup board inclluding setting strategy, guiding the CEO, and making important decisions

- How to address conflicts of interest and ensure the right fit for the company's needs

- Typical compensation for board members

In this episode, Halle and Michael discuss the process of raising a seed round. They cover topics such as when to raise a seed round, building relationships with investors, and the difference between convertible notes and SAFEs. They emphasize the importance of storytelling and having a clear vision when pitching to investors. They also provide tips for first-time founders, including being mindful of dilution and knowing your use of funds. Overall, the episode provides valuable insights and guidance for entrepreneurs navigating the seed funding process.

We discuss:

- Why timing is crucial when raising a seed round, and it how factors such as market conditions can influence your chances of success

- How to get in front of investors (hint: cold calling isn’t your best bet)

- Convertible notes vs. SAFEs

- Understanding dilution, and how each round impacts your ownership

- Knowing your use of funds and setting clear goals for growth and profitability

In this episode, Dr. Alicia Jackson, co-founder and CEO of Evernow, discusses the importance of women's health research and the need for improved menopause care. She shares the inspiration behind starting Evernow and the challenges faced in addressing the under-researched and underserved field of women's health. Dr. Jackson shares the founding story of Evernow, from idea to raising $28M to creating the largest database on menopausal and perimenopausal women that exists today.

We discuss:

- How women's health, particularly menopause care, is an under-researched and underserved field that requires deep science and evidence-based solutions.

- How they’re moving towards profitability by improving acquisition and engagement

- Using strategic partnerships to expand access to care and reach a wider audience

- How to determine pricing of a new offering that doesn’t yet exist

- Why they allow their members to fulfill prescriptions with them, or at their own local pharmacy

You only get to incorporate once, and you want to get it right. In this episode, we dive deep into the process of incorporation for startups. We cover everything from choosing the right business entity structure to splitting founder equity. You’ll want to listen to this before filing your incorporation paperwork!

We discuss:

- How the choice of business entity structure depends on the goals and plans of the startup

- Why you should prioritize simplicity and avoid over-engineering the legal structure in the early stages

- Vesting structures, including alternatives to the traditional four-year vesting with a one-year cliff

- How to have open and transparent conversations among co-founders to determine fair equity splits and relative contributions

- Single vs. double trigger, and the importance of acceleration protection in the event of termination or an M&A exit

- What we think is the optimal number of co-founders

In this episode, cancer survivor Kaitlin Christine, the CEO and founder of Gabbi, shares her vision to make all late stage breast cancer obsolete by ensuring all women know their risks and have access to early detection. Gabbi offers women a breast cancer risk assessment along with a Care Concierge team that guides members through the complex healthcare system.

We discuss:

- How their mobile risk assessment helps individuals understand their risk level and guides personalized care plans

- How the company has pivoted from selling to employers to D2C to better serve patients

- The process of becoming in-network

- Ideas for acquiring customers in creative ways and through partnerships

- Setting up a management services organization (MSO), and when that should happen

In this episode, pharmacoeconomist Yoona Kim, the founder and CEO of Arine, shares her mission to solve the problem of medication mismanagement in healthcare and building a fast-growth, 140-person company. Arine is an AI-driven SaaS platform company focused on medication intelligence that grew 100% last year, and has produced more than 33 million life-improving recommendations for over 15 million patients.

We discuss:

- The problem of medication mismanagement in healthcare, and the potential to cause harm and increase costs

- How Arine’s medication intelligence platform helps optimize treatment and reduce errors by providing actionable recommendations based on patient data

- Their target customer, versus who actually uses the platform (spoiler: they are different stakeholders)

- How they’re using AI, carefully

In this episode, Ankit Gupta, CEO and founder of Bicycle Health, discusses his telehealth treatment program for opioid use disorder. He shares the inspiration behind starting the company and the comprehensive care model they provide. Gupta explains their business model and pricing, highlighting the challenges of affordability and value-based care. He also discusses the importance of retention rates in addiction medicine and how Bicycle Health aligns incentives with patient outcomes. Gupta addresses the involvement of families in the virtual care model and the strategies they use for user acquisition.

We discuss:

- Retention rates, and how they differ between self-pay and insured patients

- How the opposite of treatment for opioid use disorder isn’t full recovery

- The involvement of families and care givers in addition to the patient you’re serving

- How they acquire patients through online channels

In this episode, Neil Batlivala pitches his startup Pair Team, connecting underserved communities to high quality care. Pair Team's innovative approach brings a community-led, virtual care model to the forefront, addressing the interconnectedness of social and clinical care. We discuss:

• Bridging the gap between underserved communities and quality healthcare through community partnerships
• Integrating community organizations like shelters and food pantries into the healthcare delivery system, with an emphasis on upskilling staff to become community health workers
• The role of technology in creating shared care plans and ensuring seamless coordination among different care providers
• Challenges and breakthroughs in engaging high-need individuals, including those without regular access to primary care, and reducing emergency department utilization
• Building trust within communities, especially amongst populations that have been historically marginalized or overlooked by traditional healthcare systems
• Pair Team's business model, focusing on sustainable funding and value-based care, and how this impacts their service delivery and partnerships
• How Pair Team maintains its culture and values while scaling and adapting to new challenges in the healthcare sector

In this episode, Belgian entrepreneur Thomas Vande Casteele pitches his healthcare startup, Awell, a low-code platform designed for clinical and product teams to create and integrate clinical workflows into their tech stacks.

We discuss:

• Building a low code platform for designing clinical workflows
• The challenges and strategies of managing a global company, especially in the healthcare sector
• Insights into Awell's customer base, including both traditional hospitals and tech-enabled service providers
• Awell's pricing model and approach to customer engagement
• The company's growth in 2023, including fundraising and scaling challenges
• The importance of corporate structure, especially for international startups
• Awell's approach to employee engagement and maintaining company culture remotely