Hims House

Thanks to our partner, Mochi Health! https://JoinMochi.com.

Subscribe to Hims House:

https://himshouse.com/subscribe

Follow us:

https://x.com/himshouse

https://x.com/jonathanrstern

https://x.com/maxmarchione

Join the Discord:

https://discord.gg/tJqGgVhkEt

In this episode of Hims House, Jonathan Stern sits down with Max Marchione (Founder/CEO of Superpower) to break down what Hims' “rich people live longer” Super Bowl ad signals about the company’s ambitions beyond GLP-1s. They debate the path from DTC e-commerce to a true health platform -- membership, verticalized manufacturing, and “Pharma 2.0” wellness therapeutics -- then widen to the peptide boom, gray-market demand, and the “health super app” race. They close on labs pricing dynamics, AI hiring, and what could re-rate Hims’ valuation.

00:00 – Sponsor: Mochi Health

01:58 – Why Hims' Super Bowl ad works

03:52 – Membership + manufacturing + pharma 2.0

06:33 – Superpower's approach

10:19 – The peptide market explosion + retatrutide

16:13 – Health "super-app" race: Hims, Whoop, Oura, Superpower

19:50 – Deep dive into peptides and regulatory outlook

27:50 – Superpower's product roadmap

28:39 – Pharma 2.0 and consumer-driven wellness

30:25 – Labs pricing strategies and market dynamics

36:51 – AI and engineering: what is Hims building?!

42:25 – Hims valuation: 10x (or even 100x) potential 🤯

47:27 – Future of GLP-1s

Not financial, legal, or medical advice

Thanks to our partner, Mochi Health! https://JoinMochi.com

In this episode of Hims House, Jonathan Stern sits down with Sabina Hemmi (founder of GLP Winner), for the most comprehensive episode on GLP-1s that Hims House has done. They cover the compounding wars -- federal legislation, state-level crackdowns, and the lawsuits -- before diving into why tirzepatide dominates patient demand and what might be holding Hims back from offering it. The discussion spans oral GLP-1s, microdosing trends, and concludes with Sabina's skeptical take on peptides.

00:00 - Sponsor: Mochi Health

02:59 - Video games → GLP-1s

04:56 - GLP Winner Overview

10:28 - Who does Hims actually compete with?

16:43 - Hims x Novo Relationship

23:17 - Why tirzepatide is superior

29:30 - The SAFE Drugs Act

32:23 - State Bills: Indiana, Florida, Virginia

40:43 - Adverse events

43:09 - GLP-1 pill vs. injectables

50:57 - Over-the-Counter GLP-1 coming soon?

52:55 - Peptides

Not financial, legal, or medical advice

Subscribe to Hims House:

https://himshouse.com/subscribe

Follow Sabina:

Tiktok: https://www.tiktok.com/@lawliepop

Instagram: https://www.instagram.com/lawliepops

Youtube: https://www.youtube.com/@lawliepop

X/Twitter: https://x.com/lawliepop

Substack: https://substack.com/@lawliepop

Linkedin: https://www.linkedin.com/in/sabina-hemmi

Follow us:

https://x.com/himshouse

https://x.com/jonathanrstern

Join the Discord:

https://discord.gg/tJqGgVhkEt

In episode 51 of Hims House, Bayside returns to the podcast to for year-end recap + 2026 predictions. The conversation covers Hims & Hers’ eventful 2025—international expansion, acquisitions, new product categories, partnerships and breakups—before pivoting to what investors should watch for in 2026. Bayside, who shifted to a more cautious stance mid-2025, explains his current thinking on valuation, growth rates, and the catalysts that could change the narrative. The episode closes with bold predictions about tirzepatide, a potential Super Bowl ad, and where the stock might trade heading into earnings.

00:00 - Welcome back to Bayside

01:10 - 2025 Recap: Labs, testosterone, menopause, international, acquisitions (Livewell, YourBio), $250M buyback, Deb Autor as Chief Policy Officer

03:21 - Revenue concerns

08:45 - Valuation framework

11:30 - Is compounding still at risk?

16:51 - The competitive landscape

20:22 - Super Bowl Ad Speculation

24:15 - Tirzepatide?!

29:32 - Peptides Opportunity

32:13 - Novo partnership “active talks”

38:13 - 2026 predictions

45:30 - Wearables?

50:10 - Celebrity partnership gap

Shalin Shah is the founder & CEO of Marius Pharmaceuticals, the company that partnered with $HIMS to launch oral testosterone (KYZATREX). We discuss how the partnership came about, the benefits of teaming up with $HIMS, and the future of TRT.

(00:41) Origin of the partnership

(02:55) Benefits of partnering with $HIMS

(04:14) Deal shape and exclusivity

(06:51) How KYZATREX will sit alongside compounded meds on the $HIMS platform

(09:22) Will KYZATREX be personalized?

(16:07) TRT as a schedule 3 substance

(21:39) Gearing up for 2026 launch of KYZATREX

(22:40) Future of TRT market

(27:29) Peptides

(29:44) Testosterone for females

In episode 49 of Hims House, Jonathan Stern and Patrick Lester (Bayside) host Mark Mikhael and Joshua Fritzler from Olympia Pharmacy. Mark (CEO of Olympia), and Josh (CFO) discuss the evolution of their Orlando-based compounding pharmacy -- around GLP-1s and beyond. They dive into regulatory uncertainties, the impact of ongoing MFN negotiations involving Big Pharma, the role of compounded GLP-1s, and the burgeoning field of peptides. The conversation also touches on the concept of longevity through peptides and diagnostic testing, the broader implications of their work, and the role of Hims & Hers in the compounding industry.

(00:48) Olympia Pharmacy

(04:03) GLP-1s

(10:10) MFN negotiations

(20:45) Self-injection

(24:20) MAHA PAC appointment and goals

(31:43) Peptides peptides peptides

(42:32) Longevity & diagnostic testing

(45:56) Hims industry impact

In episode 48 of Hims House, Jonathan Stern and Patrick Lester (Bayside) are joined by Saad Alam, founder & CEO of Hone Health. The discussion dives into Saad’s personal health journey and the founding of Hone Health during the pandemic. Saad discusses the company’s focus on hormonal health, weight loss, thyroid medications, and new longevity medications. Saad shares insights into diagnostics, the future of primary care, implications of the Meta ad privacy policy changes and FDA advertising crackdown, and the future of the telehealth industry.

00:43 Saad’s personal health journey

02:34 Hone’s products, revenue, competitors

04:29 Enclomiphene vs. clomiphene

09:07 Testosterone market and demographics

14:10 What longevity means

19:25 Lab testing and biomarkers

22:09 Why Hone hasn’t offered GLP-1s

25:14 “Everyone has a Chinese peptide dealer now”

33:53 Which peptides should Hims start with

35:38 Meta ads and the FDA crackdown on ads

40:43 Is primary care in trouble?

47:52 Why Saad is bullish on Hims

In Episode 47 of Hims House, Jonathan Stern and Patrick “Bayside” Lester talk to Lee Rosebush, chair of the Outsourcing Facilities Association (OFA), about what’s really going on with GLP-1 medications and peptide compounding. We the FDA warning letters over drug ads, what the new FDA “Green List” means for the future of compounding, and whether the DDC list (which could restrict what’s “too hard” to compound) or MFN drug-pricing might change the rules. We also touch on the MAHA PAC, recent patent challenges to sema and tirz, and what all this could mean for patient access in the near future.

Note: Conversation includes legal/policy and financial analysis; none of it is legal or financial advice.

(00:46) Lee’s Twitter comeback

(02:09) FDA’s warning letters to drug advertisers

(12:41) Lee on the Lilly vs. Willow/Mochi lawsuits

(20:45) GLP-1 patents

(25:12) FDA “Green List”

(28:51) Is a compounded GLP-1 crackdown on the way?

(32:11) The DDC List

(36:48) MFN price negotiations

(44:15) MAHA PAC

(46:09) RFK on peptides and “patient access”

(50:35) Thoughts on Hims

In Episode 46 of Hims House, Jonathan Stern and Patrick Lester (Bayside) sit down with Rob Leclerc, founder of AgFunder and one of TIME Magazine’s Top 100 VCs. Rob explains why he believes Hims is a category-defining company -- comparing it to Nvidia in 2016 -- and weighs in on the company’s high-profile engineering/AI hires from Cruise. The discussion covers Rob’s own experience as a Hims customer, Hims’ push into AI and tech leadership, the ZAVA acquisition and global expansion, and emerging frontiers like testosterone, diagnostics, and wearables. They also dig into public-market pressures, regulatory challenges, and how Hims might stack new S-curves to fuel growth over the next decade.

00:00 Intro

01:15 Rob’s background + AgFunder

02:21 Why Hims?

03:37 Rob as a Hims customer

06:55 Ex-Cruise tech leadership

11:04 AI, robotics & safety mindset

16:46 Is AI a bubble?

21:41 Core growth slowdown

27:45 Acquisition of ZAVA: how to evaluate

28:56 The $1B raise

31:17 Diagnostics, wearables, & home testing

35:12 Emerging healthcare trends

39:10 Regulation and patents

44:37 Public markets

50:27 Valuation

In Episode 45 of Hims House, hosts Jonathan Stern and Patrick Lester (aka Bayside) welcome Scott Brunner, CEO of the Alliance for Pharmacy Compounding, for a conversation on the future of compounding. They cover the surge in GLP-1 demand, lawsuits involving Eli Lilly and Novo Nordisk, FDA policies, and the regulatory pressures shaping 503A and 503B pharmacies. Brunner also unpacks the challenges around the demonstrably difficult to compound list, compounded hormone therapy, and peptides, while sharing insights into congressional actions and the MAHA movement’s role in protecting patient access to compounded medications.

00:00 - Introduction

01:02 - The Role of the Alliance for Pharmacy Compounding

01:51 - 503Bs Ramping Production? Rumors vs Realities

07:55 - Lawsuits Involving Eli Lilly and Novo Nordisk

11:58 - Patents

15:51 - Policy Negotiations and the MFN Debate

25:06 - Lawmaker Letter to FDA

28:04 - What’s in the APC Blueprint

28:51 - The 5% Rule and MOU Requirements

33:42 - The Demonstrably Difficult to Compound List

41:00 - Compounded Hormone Therapy

43:21 - Peptides

In Episode 44 of Hims House, hosts Jonathan Stern and Patrick Lester (Bayside) sit down with Geoff Cook, CEO of Noom. Noom is one of Hims' competitors and is best known for its behavioral health platform and recent expansion into GLP-1 microdosing and hormone replacement therapy. Geoff discusses Noom’s evolution, the shift in revenue from behavioral programs to medicated plans, and the company’s vision for democratizing longevity medicine. The conversation covers the business of GLP-1s, regulatory and legal challenges, the impact of tariffs and partnerships, and the future of personalized healthcare. The episode closes with predictions for the next decade in health tech and reflections on human flourishing.

Link to the article about the "high-priced drug list": https://www.mmm-online.com/news/noom-wsj-ad-policy-changes-compounded-glp-1

00:00 - Introduction

01:11 - Noom’s background and evolution

05:17 - Noom's revenue breakdown: behavioral vs. medicated programs

07:22 - Launch of GLP-1 microdosing

17:44 - Geoff’s personal experience with microdosing

21:12 - Policy and regulatory landscape for GLP-1s

24:19 - Compounding, MFN pricing, and drug shortages

28:38 - Noom's WSJ ad for high-priced drug list

31:36 - Supply chain and tariffs on APIs

34:10 - Partnerships with pharma (Lilly, Novo)

37:11 - Legal risks and the future of healthcare “front doors”

40:36 - Hims' core business slowdown: competition and ad policy

45:21 - Noom’s strategy for growth... free tier?

46:06 - Looking ahead: AI, peptides, and the future of health tech

53:52 - Reflections on human flourishing