Shifting Mindsets (Notes from Feb 11 - Feb 17, 2019)

I think many [most] of us fall prey to the day-to-day grind of life, work and whatever we have going on. We lose out on collection and reflection, maybe some have the time to gather their thoughts. Rarely, unless asked, do we get the chance to work through introspection. The luckiest may then analyze this and work to change their mental processes. If I had to guess, I'd imagine people work through this in conversations or in reading (or both).What do my thought processes look like? Are they consistent? Do I work through problems in the same manner, or are they dependent on material or background? Have I worked to improve?What did I hear/read about that may influence these? How does what I worked on or read about influence my opinion/knowledge of other situations/circumstances? Is there a fundamental shift that's occurred over time? Should there be? Can I anticipate that? Can I preempt the movement?As the week's theme, each of the partners or founders on the episodes assessed the known framework for which they were improving upon or changing. At Brightseed, they're focused on asking questions on how we can transition from infectious diseases to chronic disease prevention, all in a system that has been built and established on the former (big pharma). The diagnoses, the business model, research and development and actions thereafter all influenced by how it has always been done.

  • Sofia Elizondo, co-founder and COO at Brightseed (Bay Area Ventures, WhartonXM)
  • Talked about how 150 years ago, as pharma started to ramp up, system developed to treat infectious diseases
  • Now, infectious diseases are not the primary, and chronic diseases have taken over
  • Not prepared industry-wide to deal with this (pharma designed for diagnosis and then action)
  • Food industry is health and wellness, some biotech companies trying to make names
  • Mentioned performance of big package food companies - lack of growth, especially only 2% for the biggest names
  • Joel Marcus, Exec Chairman of Alexandria Real Estate (Wharton XM)
  • Talked about only wanting to buy real estate, commercial lab buildings in bunches and lease or sell to biotechs Have dealt with commercial labs
  • Google had approached and they didn't like it initially but agreed on the premise of what they'd do Uber is another, soon to be 1million acre real estate for them
  • Patricia Nakache (@pnakache), GP at Trinity Ventures (20min VC 080)
  • Father was one of first engineers at Computer Sciences Corporation, spent summers in labs and telecom intern
  • Physics and chemistry major in college - went to McKinsey after graduating
  • In 1999 went to a start-up but was also a freelance writer, later had Forbes articles, etc…
  • Interviewed Trinity Ventures in 1999 and they continuously said they were very busy Joined as a contractor, then 3 months later converted 3 months later
  • 2 P's related to gender difference in venture:
  • Pipeline: nurtured through apprenticeship model, or brought on as a senior role initially
  • Pattern recognition: notion that decisions are based on what attributes have contributed to past successes
  • has vetted profiles of caregivers for hiring - more concerning for Patricia, so she is attracted by that pain point solution Ruby Ribbon partnership and learning
  • Pedal to the metal for spending and burn rate - product-market fit with a broadly-defined market E-club, meal services to companies (eg 100 ee's, goes on the app and pick what you want - variety and meals delivered at once)
  • Measuring success - returns to LPs and helping founders Jim Collins "From Good to Great" - ew, but makes sense if she grew up with initial tech boom
  • Fan of on-demand economy / services, but believes there will be a shakeout of it, as well Scheduled cleaning, for instance (not on a whim) Cites Homejoy - wasn't sure what the app strategy was solving, immediacy
  • Cal Newport, Digital Minimalism book (Wharton XM)
  • Talking about reducing technology overall
  • Habit forming - diets, if you're not committed to making a lifestyle change, can't gain the benefits
  • Yogov founder, Ryder Pearce (Wharton XM)
  • Mission-driven looking for making gov administrative jobs easier, less painful Hard to fix this as there are so many different 3rd party / privatization attempts
  • Spent 3 months in 2016 dealing with California DMV for what he felt should've been minutes
  • Phil Libin (@plibin), co-founder CEO of All-Turtles (Launch Pad, Wharton XM)
  • Attempting to cover real-world problems with AI
  • Focused on Evernote until starting this - have grown broadly to eventually include biotech
  • Talked about doing 72 hour fasts after being very skeptical (as a fad, etc….)