In this episode, hosts Bob Spiel and Nate Williams focus on the impact of Dental Support
Organizations (DSOs) on the dental industry and their mission to dissuade dentists from selling
their practices to DSOs. They address various aspects of this issue in three parts:

1. Bob and Nate emphasize the difference between wealth as cash and true wealth, which they
define as owning productive capacity, particularly in the context of dental practices. They
discuss the risks associated with selling a dental practice, such as rapid depreciation in value
when the dentist is no longer actively involved.

2. Bob and Nate explore the factors contributing to the rapid growth of DSOs, including
government funding during the COVID-19 pandemic, low interest rates, and surplus capital-
seeking investment opportunities. They share a personal anecdote about a dentist who chose
not to sell his practice to provide his son with an independent dentistry opportunity.

3. Bob and Nate delve into the tactics used by DSOs to entice dentists into selling their
practices, such as offering equity in the buying DSO and recruiting influential doctors to create
network effects. They express concerns about doctors being complicit in the consolidation of
power by DSOs and debunk the myth that selling to a DSO benefits a dentist in the long run.

Overall, Bob and Nate encourage listeners to share their message with colleagues and friends in
the dental industry, raising awareness about the potential downsides of selling to DSOs and the
importance of considering the long-term implications. With any questions, please email us at [email protected]