This Week in Startups

Today, we have two interviews with founders innovating in the US prescription drug market to bring prices down for consumers.

First up, Molly talks with Alex Oshmyansky, CEO of The Mark Cuban Cost Plus Drug Company, about building a "parallel supply chain", the importance of transparency, and a breakdown of the "financial engineering" in the industry. (3:22)

Then, she talks to Capital RX CEO AJ Loiacono for a full breakdown on PBMs (pharmacy benefit managers) and the opaque pharmaceutical supply chain. (40:35)

(0:00) Molly intros today's two interviews

(3:22) Mark Cuban Cost Plus Drugs Company CEO and Founder Alex Oshmyansky on operating a startup while still being a practicing doctor and Cost Plug Drugs' business model

(11:21) Harmonic - Get $4000 off at https://harmonic.ai/twist

(12:43) Alex explains the state of the US drug space, why they're trying to build a "parallel supply chain", the importance of transparency, and the origin story of the company

(23:44) Prometheus - Go to https://prometheusalts.com or download it on the App Store and use the access code TWIST to sign up

(25:11) Drug production, hot button drug issues

(32:16) Alex explains the "financial engineering" and profiteering in the prescription drug space

(39:15) BairesDev - Go to https://baires.dev/twist and get $10,000 off when you sign your first contract

(40:35) Molly intros the next guest: Capital RX CEO AJ Loiacono, who explains the convoluted and opaque pharmaceutical supply chain

(54:30) Understanding PBMs (pharmacy benefit managers) and the broader healthcare industry

(1:04:09) AJ gets into his background, starting Capital RX, and how it fits into the ecosystem

We have a big news show with a very special guest!

TechCrunch's Alex Wilhelm fills in for Jason to break down the news with Molly.

They cover Netflix cracking down on password sharing (2:12), Snap's rough Q2 earnings (6:45), Coinbase's alleged insider trading (21:28), the 3AC Bloomberg interview (36:37), and more!

(0:00) Molly tees up today's news with Alex Wilhelm, who is filling in for Jason!

(2:12) Molly and Alex share thoughts on Netflix cutting password sharing in some Central/South American countries

(6:45) $SNAP Q2 earnings: stock drops ~40% on slowing revenue growth and growing losses

(11:15) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist

(12:27) Jason's almost-Jay Trade, $SNAP's debt situation, most interesting implications from the week ahead of big tech earnings

(20:12) Odoo - Get your first app free and a $1000 credit at https://odoo.com/twist

(21:28) $COIN's alleged insider trading, Jay Carney getting hired by Airbnb away from Amazon

(35:23) Vanta - Get $1,000 off automating your SOC 2 at https://vanta.com/twist

(36:37) Reacting to the 3AC founders' interview with Bloomberg, crypto contagion due to intermingling

(45:09) Man who lost ~8000+ Bitcoin in a landfill is trying to raise capital to uncover the hard drive

For today's VC Sunday School, Jason talks about saying "no" to founders (1:20), and Molly asks about board meeting etiquette (20:12). Then, for This Week in Climate Startups, Molly speaks with Michael Luciani of Climate Capital (37:18).

(0:00) Jason intros today's show

(1:20) VCSS: Saying "no" to founders

(9:20) Brave - Download today at https://brave.com/twist to browse faster, search privately and so much more

(11:01) Some VCs give a "no" to gauge a founder's tenacity

(19:08) iTrust Capital - Visit https://itrust.capital/twist to create your Crypto IRA today

(20:12) Board meeting etiquette

(36:02) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist

(37:18) TWiCS: Michael Luciani of Climate Capital

(1:02:40) Outro

Today, Jason and Molly speak with Ben Narasin of Tenacity VC about raising a new venture capital fund in the down market (1:30). Then, for this week's segment of OK Boomer, Producer Rachel sits down with Natalie Barbu of Rella (1:00:33).

(0:00) Jason intros today's show!

(1:30) Jason and Molly speak with Ben Narasin of Tenacity VC

(11:45) Masterworks - Skip the waitlist to invest in art using promo code TWIST at https://Masterworks.io/twist

(13:07) How do you make a decision to sell a percent of your position?

(26:59) Bubbles - Get your point across with unlimited screen and video recordings for free at https://usebubbles.com/twist

(29:06) Valuations, 2022

(39:39) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist

(40:47) Crypto is a speculator's game

(45:25) Are these tokens securities?

(59:19) Producer Rachel tees up this week's OK Boomer

(1:00:33) OKB: Natalie Barbu of Rella 1:25:16 Outro + Plugs

First up, Jason and Molly break down Amazon acquiring One Medical for $3.9B — what is the long-term strategy here (2:44)? And you know it's Thursday, so you know we had to have Lon Harris on the show (16:36). We break down the Snyder Cut bot craziness (24:38), and Netflix's path forward (37:25). There might even be a Jay Trade involved!

(0:00) Jason and Molly tee up the show!

(2:44) Amazon acquired One Medical for $3.9B

(14:20) Prometheus - Go to Prometheusalts.com or download it on the App Store and use the access code TWIST to sign up

(16:36) Lon Harris joins for This Week in Streaming: "Cryptoqueen" pilot

(22:31) Intercom - Get advanced Intercom features and Early Stage Academy at a 95% discount bit.ly/earlystage22

(24:38) Rolling Stone reported The Snyder Cut was fueled by a bot army

(32:43) Microsoft for Startups Hub - Apply in 5 minutes, no funding required, sign up at http://aka.ms/thisweekinstartups

(34:49) Thoughts on Amazon's streaming service

(37:25) Jay Trading? Thoughts on Netflix's path forward

(46:30) Wrapping up and picking a new show

(50:30) Outro

Yesterday, Netflix released its Q2 earnings, and this prompted Jason to make some Jay Trades (2:53). Then, we have our second installment of "The Blueprint," where Jason breaks down when you should quit your job (45:14). Finally, we wrap with our Startup of the Day: BeReal (1:06:48).

(0:00) Jason and Molly tee up today's show!

(2:53) Jay Trading: Jason does some Jay Trading in relation to the Netflix Q2 results

(10:27) BairesDev - Go to https://www.baires.dev/twist

(11:50) Netflix reported Q2 earnings yesterday, they were meh

(14:38) What's the problem at Netflix?

(24:27) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist

(25:42) Prediction: Disney+ will exceed Netflix

(28:01) Jay Trading: Disney

(30:20) What would make you buy Netflix?

(37:00) Two other ideas for Netflix

(44:18) Visa - Learn more about Visa's online Small Business Hub at Visa.com/smallbusinesshub.

(45:14) The Blueprint E2: when should you quit your job?

(1:06:48) Startup of the Day: BeReal

(1:17:39) Coming up this week

Molly had a big board meeting today, so we had our guy Zach Coelius join for another version of Ask an Angel (1:32). Zach and Jason share their thoughts on remote work (4:40), the downturn (22:10), and then they answer audience questions (41:22). It's a solid episode for founders and investors!

(0:00) Jason intro's today's Ask an Angel episode with Zach Coelius

(1:32) Ask an Angel with Zach Coelius

(4:40) Zach's thoughts on remote work

(13:19) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST

(14:37) Managing a company post-COVID

(17:00) Who shines in the remote work era?

(20:51) Notion - Get $250 off by using code TWIST at https://notion.so

(22:10) The downturn: will people cancel or review their SaaS bills?

(26:09) How many of Zach's founders have prepped for the downturn?

(30:50) Odoo - Get your first app free and a $1000 credit at https://odoo.com/twist

(32:02) Don't try to invest in pre-product market fit companies when you're first starting out (unless you know the founder's awesome)

(41:22) Q&A: How do you think about competition in the same market in the early stages?

(46:43) What are the top buzzwords you're staying away from as investors right now?

(59:00) Would you invest in SF?

(1:04:00) How much dilution after seed rounds turns into a red flag?

(1:06:14) Should the equity grant occur during financings or the board meeting?

(1:09:15) What does Zach focus on in terms of diligence?

(1:19:30) As a founder, when should you provide pro rata to angels and when not?

(1:25:10) Have you ever advised a founder to leave the CEO role?

(1:32:29) How long do you think the down market is going to be and what's your strategy?

Today, Amazon CEO Andy Jassy is celebrating his one-year anniversary, and the NYT published an interesting profile that has a lot to do with regulatory scrutiny (3:01). Then we cover the boom of remote work incentive programs all over the US to attract remote tech workers (27:00). And, we get into an awesome new company called Phaidra in our Series A segment… some former DeepMind engineers started an awesome machine learning company (40:16). And we wrap with a great story about retail investors who have the same thesis as Jason (47:51).

(0:00) Jason and Molly tee up today's show

(3:01) NYT published a profile of Amazon CEO Andy Jassy on his one-year anniversary of becoming CEO, and it had some interesting tidbits

(12:28) LinkedIn Jobs - Post your first job for free at https://linkedIn.com/twist 13:44 More on the legislation discussed in the NYT article

(21:37) Microsoft for Startups Hub - Apply in 5 minutes, no funding required, sign up at http://aka.ms/thisweekinstartups

(22:54) Bezos is running for president (prediction)

(27:00) WSJ reported 71 cities and towns in the US are now offering remote work incentive programs

(37:19) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist

(38:33) Producer Nick chimes in on remote workers in Manhattan

(40:16) Series A: Phaidra s a startup selling machine learning software that regulates temperatures at power plants and industrial factories

(47:51) WSJ reported some amateur investors see the declining state of the stock market as a chance to double down

(56:08) Over the weekend Jason tweeted, "Terrify your investors in 5 words." These were the best replies

On today's episode of VC Sunday School, Molly asks Jason about taking the leap on valuation (2:10) and best practices for strategic retreats (11:41). Then, Molly speaks with Meiling Gao and David Lu of Clarity Movement, to talk about their hardware for measuring air quality (33:25).

(0:00) Jason and Molly intro today's show!

(2:10) VCSS: Taking the leap on valuation

(10:28) Embroker - Get an extra 10% off insurance for your business at https://Embroker.com/twist

(11:41) VCSS: strategic retreats

(27:44) Microacquire - Sell your business with no fees at https://try.microacquire.com/twist

(29:01) VCSS Bonus Round: Does age matter in founders?

(32:15) Molly tees up This Week in Climate Startups

(33:25) TWiCS: David Lu + Meiling Gao of Clarity Movement

(38:00) Brave - download Brave today at https://brave.com/twist to browse faster, search privately and so much more.

(39:17) TWiCS: More on Clarity Movement's air pollution measurement hardware

(57:49) Outro + Plugs

Today, we cover the WSJ reporting on Amazon thinking of exiting the private-label business entirely (2:26). Then, Jason talks to FCC Commissioner Brendan Carr about banning TikTok in the US (15:23). And of course, we wrap with another episode of OK Boomer from Producer Rachel (56:17).

Check out BuzzFeed's report on TikTok: https://www.buzzfeednews.com/article/emilybakerwhite/tiktok-tapes-us-user-data-china-bytedance-access

(0:00) Jason and Molly tee up today's show

(2:26) WSJ spoke to anonymous sources who told them Amazon is talking about exiting the private-label business entirely

(14:09) Vanta - Get $1,000 off automating your SOC 2 at https://vanta.com/twist

(15:23) Jason speaks with FCC Commissioner Brendan Carr about potentially banning TikTok in the US

(21:56) Prometheus - Go to Prometheusalts.com or download it on the App Store and use the access code TWIST to sign up!

(24:14) Reciprocity with a potential TikTok ban

(31:55) UserTesting - Get real human insights from customers, try for free today at https://usertesting.com/twist

(33:06) Should the military ban on TikTok mean it should be banned by Google and Apple?

(44:40) Concerns over DJI drones

(56:17) Producer Rachel tees up this week's OK Boomer segment

(1:01:10) OKB: Producer Rachel speaks with Eric Button, co-founder of Contrast

(1:20:42) Outro + Plugs