
This is software (AWS) generated transcription and it is not perfect.
so much for that question. Well, I'm in the accidental entrepreneur. I like to say I'm a career innovator and a scientists. And during my Ph. D, I was very prepared to just enter the world of academia and go down that path of becoming a professor on the path I discovered a platform mobile technology that was really useful in developing drugs. And I thought, Wow, this is an amazing opportunity. Maybe only happens once in a life. I want to commercialize this. So I had my PhD from Harvard and I decided to go out there on a fundraising round and tow, learn how to build a biotech. Um, probably that was probably my most rewarding experience because it was a colossal failure. The name of the company was Ark Therapeutics. It was using soft matter physics techniques to understand how to develop drugs in the biotech space. And I didn't know how to fundraise. I didn't know how to make a pitch Dick. I didn't know how to pitch to answer autumn venture capitalists. I just really didn't know anything except for how to be a scientist. And I didn't even know how to really translate those discoveries in a way that was going to be in vestibules. This is all. I was very fortunate in that flagship pioneering, the venture capital firms had first young meat and kind of took me under their wings. And my mentor there, David Berry, taught me how to build companies and together as a venture capital associate. Side by side with him, I learned how to build companies, how to build a business strategy, how to build on beautiful strategy and develop out companies. And I went on to found with him a company that was based on a personalized genomic medicine and trying to make that a reality and also a company that was using artificial intelligence that come up with some nuanced ways to develop drugs. And that process, for me was probably the most rewarding. That landed me here. I'll say one more thing, and then I'll let you move on to the expression. I'll say I started this journey down, even wanting to go into entrepreneurship because of my passion for people. I started as an electron across this associate at the Children's Medical Center of Dallas. Some I won't say 15 years ago where so Um and I was there, and I was very happy with my bachelors in biology during my cross to be for pathologists there, and I noticed a discrepancy, and that was my first time experiencing how discrepancy and healthcare could actually affect patients. And I saw that we had tests for this disease called primary sillier dyskinesia. It was a disease where kids would come back repeatedly for technique in the pathology lab to be diagnosed with some illness. And we had a return insufficient for diagnosis, something like 80% of the time. And so I wanted to fix that, and everyone told me, No, keep your head down, do this, my crossbow, anything and just do your job. And I couldn't like singles Pensions come in. Those parents with crying Children come in multiple times to trolled me toe want to do something different. And so I worked very early in my career to develop more laboratory. Wait before I finish my Ph. D. And while I was there, I discovered this great technique. They ended up implementing it at that hospital, and at the end of that journey, I felt so satisfied. And then I discovered that There was no therapy, no medicines for this disease that we could really diagnosed. And that was what let me to grad school. And ultimately, those kinds of things have been my passions, my driving force that have letting throughout the file tech investments.
Russian. Thank you. Pressing. I love seeing stage investments. I love the early start ups where the idea is just now starting to develop. One of the things that I really like when I look for investments are who were the members of the team And are they passionate about the product? And are they willing to be agile and make very tough decisions as the project starts to develop? I have never really developed a company that what started out as the additional initial I'm so sorry idea that was presented to us. I have commercialize strategies for Nobel Laureates over at BRANDEIS, and we never even ended up anywhere near the original concept of I idea. So their first thing that looked for is that guilty of the team, the diversity of the team and what I mean is diversity and thought, diversity and background, diversity and experiences. Because you're gonna need someone who understands business. You're gonna need someone who understands the the science or the technology or whatever the professional portion of that company is. And you're also going to need ah team of advisers who are key opinion leaders, Whether you agree with them or not that can give you advice that can help Teoh guy as you start to develop at those ideas. So I love biotech. I've recently become interested in the capital markets in Seoul, financial technology investments and seeing how they intersect in the two different spaces. But but companies mostly that work at the cusp of two different industries or companies that adventure into what I like to call whitespace ideas that we have thought are unvested ble or just way too far out there into the future to actually start to really conceptual life. So getting in with inventors or innovators who are starting to think about those spaces, even when they're just seeds of ideas and investing in those strategies and helping to build out that process before, um handing it over to them and letting them continue to build out the company or things that I like to look for
I love these questions. I have to tell you. I get some of the workers investor pitches that I've ever seen and I just want to reach out to these people and tell them this is what you need. I will tell you the basic principles. I am work with so many venture capitalists all over the world, and we all look for one specific set of ideas. What is the problem that you're trying to solve? That needs to be up front in the first? Not not even till the third slide. Should you have gotten before you answer the question? What is the problem that you're going to solve? Why are you the best people to solve that problem? Do you have some specific insight or some specific experience? It doesn't even have to be that you were trained up through this technology, but you have some personal experience. Your grandma had Alzheimer's and you want to develop drugs in that space or something. That makes me believe that you have the passion, the 4 to 2 with everything that you need to follow this project to the end. I mean, so the first thing is, what is a project problem problem that you're trying to solve. The second is are you the right people? The second me. The third is what is the market opportunity? This may be a great idea, and you may be the perfect person, but is it even a project willing to solve? Like, do I want to invest in this and one of my favorite mentors? His name is Ed Milieu. He runs an investment bank. Taught me very early on and venture capital toe. Always look for what the potential exits are. You should not present an idea if you don't know what your exit strategy is gonna be. You wanna initial public offering? Do you have I didn't find customers that you intend to acquire this technology, do you? It and just do you have a nice idea of winning where you want to reduce your involvement in the company and what that looks like? Because what we have learned over time is that the scientific founders are the original. Founders are rarely the same founders that you need in the subsequent phases of a company development. And are you willing to take us that bet to see the idea developing grow. So I like to see those kinds of data points. But more than anything, I like to see Riel numbers, riel, profitability for whoever the customers are gonna be. I have gotten slide decks where people are like, this is a $1,000,000,000 industry, and we're gonna take 50% of that. I need to see a halfway. How I need to see what are the steps that you're going to do to get there so sufficient that you can inform me without enabling me to take over the project and do it s o something that gives me enough information to make a decision without, um feeling all of the keys to the kingdom toe, take the project. So in the first email, make sure you do what I call like two Senate summering two sentences, who you are, what you're trying to tell me, and then a slide dick with maybe no more than 10 slides. Tell me what the project is with a problem you're trying to solve, who the exit, the potential customers are and what your exit strategy is. And then those are usually the people that I call back and have meetings with the find out more