Mark S. McNally

Still feeling energized from last week's roundtable on building successful relationships with hospitals. We invited 7 portfolio companies and health system leaders from Mayo Clinic, Cedars-Sinai and UCLA Health. The founders shared their questions ranging from the strategic to the nuts and bolts of closing partnerships. For example, how do you determine what measures of effectiveness help drive alignment? And how do you get all the stakeholders together to actually drive a decision. Answer: put them all in a room for half a day! “I think we're in a pivotal moment regarding how we assess AI. There are numerous risks currently dominating AI discussions, particularly those concerning bias and other associated risks. However, there's a notable absence of focus on evaluating the proactive value of AI. We need to consider what AI actually offers and what we want it to offer. It's not solely about determining whether it will cause harm; people are apprehensive about how this technology will be implemented. One perspective gaining traction involves ensuring the product's validation process is robust enough to prevent risks to various populations.” -Vladimir Manuel, Medical Director at UCLA Health From Vlad's comments above to perspectives others shared, we heard a sense of excitement for the promise of #AI and other new technologies. But we're also in a unique moment where the risks are not well understood. Still much to do here.

21

I used to spend 2-3 hours daily on clinic notes, skeptical of AI scribe technology. However, I've been impressed with RevMaxx, a generative AI company transforming clinical note creation by listening to physician-patient conversations and automatically generating comprehensive notes. This platform accurately captures crucial ICD-10 codes, saving valuable time ⏰. 👉 Why This Matters: - **Reducing Physician Burnout:** Administrative tasks are a significant contributor to physician burnout. Innovations like RevMaxx alleviate this burden effectively. #HealthcareInnovation #AI #PhysicianBurnout #MedicalDocumentation #HealthTech #RevMaxx

21

In #VirtualSpace, many of the physical interactions that restrain antisocial behavior vanish. Delusions of grandeur, narcissism, viciousness, impulsivity, and infantile behavior for some individuals rise to the surface. https://lnkd.in/gdrCxrrH #VirtualReality #metaverse

5

Movac KiwiNet Deep Tech is difficult because you do not comprehend 95% of the universe using the Standard Model of Particle physics. Either learn that measurement is flawed due to human bias or experience and unbiased state through transcendence experiences corresponding to Christ consciousness. The physics of life is based on LENR and not the Standard Model of Particle physics. Unfortunately, scientific research has been captured by the materialism perspective. This is mutually exclusive to the light observed in consciousness. Physics of life. Deep Tech https://lnkd.in/gKqC3PAR Gateway into the aromatic ring Faraday cage system. Time to see the light 😁.

4

The decline in men's testosterone levels is a grossly underreported and understudied issue, which: a) has severe, broad consequences on society, and: b) sheds completely new light on “enhancement therapies” such as TRT (testosterone replacement therapy). https://lnkd.in/e86WJ3P7

67

6 Comments

Can #AI make learning #addictive? Is that better or will create other issues? #Education #EarlyYears #Earlychildhoodeducation #Childcare #Nurseries #Preschools #Edtech #K12Education #PrivateEquity #VentureCapital #ImpactInvesting https://lnkd.in/d_s6M2bk

6

The most interesting people I follow in Mental Health... ↘ Alon Greenspan for perspectives from a VC dedicated to mental health ↘ Naveen Rao for insights on the Neurotech market ↘ Dr. Jessica Jackson for insights from a psychologist who's worked across the entire system ↘ John Torous, MD MBI for some of the only insights I can trust on the role ot technology in mental health care ↘ John Vervaeke for his lecture series on the crisis of meaning, absolutely incredible! ↘ Grin Lord for insights on AI in mental health ↘ Ross Harper for seeing the day-to-day of running a succesful mental health tech business ↘ Jonathan Haidt - for strong perspectives on how technology is affecting child mental health ↘ Nikhil Krishnan - for amazing education on health systems (not mental health specific) ↘ Ushma Baros for her writing on commercial strategy and GTM in mental health ↘ John Cordray for insights from the therapist side of the world (sorry, how many Johns are there in mental health???) ↘ Johann Hari - for some more alternative and holistic views on what is causing our mental health crisis ↘ Natasha Robinson - for on the ground reporting of the impact of mental health on real people ↘ Vlad Gheorghiu for evidence based perspectives on mental health in the workplace - Steve D. (me 👋 ) for insights on how to make your mental health business commercially successful Who did I miss? __ P.S. If you want insights on mental health innovation in your inbox every week, subscribe to The Hemingway Report 📩 #MentalHealth #HealthTech

147

39 Comments

I really enjoyed recording this episode of The Digital Industrial Podcast with Ty Findley. We talked about common misconceptions for deep tech, the "Why Now" for the category, and differences between investor diligence for deep tech and traditional tech. https://lnkd.in/eKtwjauu

19

4 Comments

I recently sat down with Michael Batko, CEO at Startmate and Founder of Puddle Pod for Episode 11 of Insane Ambition. Startmate has invested in 230+ startups, much of it under Michael's leadership, and now has $3.5b in value across its portfolio companies. In this episode, we discussed: - Michael's journey from consulting, then living in the Amazon rainforest, to leading Australia's biggest startup accelerator - The future of Australia's startup ecosystem - The labour government's very stupid plan to make it harder for people to qualify as sophisticated investors (now thankfully shelved) - Startmate City! Startmate's plan to build Australia's first startup city. Probably the most ambitious idea I've ever heard from a startup accelerator. - The balance between visionary thinking and traditional startup advice (think Elon Musk's plan to colonise Mars, vs Y Combinator's problem/customer obsession) - "The Courage to Be Disliked", and its influence on Michael's approach to life and business. Links in the description below 👇

61

4 Comments

Someone broke down the estimated costs of a $15 Sweetgreen salad. We need these cost graphics for digital health to help future founders. Especially for tech enabled cos, the greatest cost is labor. Much of the "value created" is in curation and matching, which means the gross margins are reliant on labor arbitrage. Pay someone $X, but get paid $X+Y% per visit. The challenge with healthcare is that you often have to pick one of two business models: 1. specialized, low volume, high cost, low gross margin % 2. generalized, high volume, low cost, high gross margin % I'd argue founders should focus on gross dollars over the lifetime of the customer (like Jeff Bezos said) instead of gross margin %'s, but we'll leave that for another time. The challenge is that many tech enabled digital health cos have high cost of goods sold (labor) and moderately high product, design, and engineering budgets. We must build differentiated solutions for patients, clinicians, and clients to be out incumbents, however, we're realizing that companies are ultimately valued on the discounted value of future cash flows. And the high SG&A costs at most organizations might be inbalanced to the unit economics of the business. I'm not sure the math pencils out for everyone unfortunately. But I'm just a guy on the internet, would love to hear the thoughts from those smarter than I (you!). Comment below. --- p.s. I have no idea the accuracy of the graphic and not an investor in Sweetgreen. Cheers. Credit: David Crowther

113

27 Comments

🎙️ Thrilled to share that V. Tyrone Lam, COO of GATC Health, was recently featured on the Innovation Wave Podcast! In this insightful 20’ episode with Bob McGriff and me, Ty delves into how AI-driven predictive analytics can transform our approach to disease treatment, making it more proactive and less risky. He shared compelling insights on the future of healthcare and how predictive tools can lead to earlier interventions and better patient outcomes. A must-listen for anyone interested in the cutting-edge of medical technology and AI! 👉 Check out the episode to learn more about Tyrone's vision and GATC Health's pioneering work in this exciting field. Let's discuss how these innovations are reshaping the landscape of healthcare! #HealthTech #AI #PredictiveAnalytics #Innovation

31

12 Comments

What's with the fetishism around attending oversized conferences in a digital-rich, time-poor era where value is imperative? Just as we've culled frivolous meetings, is it time to treat conferences with contempt? The first recorded conference in 561 BC Corinth (GR), hosted the Isthmian Games. How did they devolve into the wasteful employee 'school field trips' they are today? The glossy veneer of conferences often obscures their archaic and wasteful reality. Ostensibly about celebrating innovation and connection, they increasingly prioritise profit over promise, money over magic, noise over nuance. Organisers rose-tinted optics ignore flaws: wasted flights, lost productivity, pointless swag, and exorbitant production costs on garish exhibitor signage for ~2 days. Today’s conferences feature the same vanity panels, fence-sitting sponsored chats, tepid moderators, and corporate-scripted speakers spewing middle-ground rhetoric to the same crowds. Attendees realise too late they could've simply spent their time (and money) more wisely and authentically unwinding over a pint at the pub afterwards. Take London Tech Week at Olympia. Despite its title, where was the tech? A missed trick to showcase actual hands-on tech, even 1 flying drone - instead, we were treated to pigeons (true story), and a hectic schedule as if designed by Anneka Rice herself. Attendees, seen as QR-coded target practice for exhibitor scan guns, scuttled through shallow networking corridors. "Let's Connect on <platform du jour>" amid 45,000 people ensures conference burnout; connection becomes resentment rather than a reward. It becomes a chore. Talks of flying cars in London by 2050 (?!) distract from pressing issues. Conferences promise "jam yesterday, jam tomorrow, but not today," neglecting the actionable innovation we need now. Registrations hoard attendee data, enriching marketers over delegates. We squander potential for personalised experiences amidst self-promotion and hollow engagements. We need to transform these costly talk spectacles into genuine engines of progress and connection. It’s time for a radical rethink: Fully autonomous AI-generated conferences with zero human intervention—AI-2-AI panels, AI moderation, AI fireside chats, and AI networking. Each delegate's generative AI avatar, using data, connects with each other, then triages optimal human connections, suggesting relevant contacts and optimising schedules for serendipitous meetings. Value isn’t in attendee numbers but interaction quality and tangible outcomes. AI-curated, focused gatherings could deepen connections, foster productive discussions, and maximise participant value. Imagine conferences showcasing tech’s real-world applications. Reduce waste, enhance quality, leverage AI for efficient, effective, and effervescent experiences. Sure, let's embrace the future—but please enjoy the present first. Please and thank you. Boom. See you at Cannes Lions International Festival of Creativity...

8

3 Comments

Hot off the pre-print server – an important publication authored by the Atropos Health team exploring the performance of LLMs in answering real-world clinical questions. LLMs excel at summarizing and contextualizing existing literature, but cannot generate de novo medical evidence today. The results of the study highlight performance gains attributable to injecting novel, relevant, and up-to-date medical evidence into LLM-powered clinical decision support systems. Brigham Hyde Nigam Shah Saurabh Gombar Read the study here: https://lnkd.in/ecuU25Pq

49

2 Comments

One of my proudest moments as an investor occurred today as Alaffia Health announced its series A because it shows how the Aperture® Venture Capital vision of multi-level, multi-generational #impactinvesting is succeeding in the marketplace. Here’s the model in its most basic form : ✅As diverse fund managers with meaningful capital to allocate, we are changing the VC landscape every day just by doing our day jobs. ✅As Black/Brown investors with ~40 years experience collectively, Aperture GPs have access to talent /excellence that others do not, so our portfolio *organically* is more inclusive by race, gender and geography even while optimizing for financial outcomes (all about the alpha). ✅Our most successful portco’s are using financial #innovation to solve market problems that impact underrepresented demographics and underserved communities. Alaffia Health is a shining example of the impact portion of our overall fund thesis, and we couldn’t be prouder of TJ Ademiluyi and Adun Akanni, MPH, PMP - the dynamic brother-sister founder duo whose vision we have steadfastly supported on their journey. Congratulations to TJ and Adun from William Crowder and myself, as well as the whole Aperture team- Marjorie King Philip McKenzie Yves Louis-Jacques Tanvi Lal Michelle Dhansinghani Lisha Bell Katie Kelly Amy Chung Cindy Chong, CFA Brian Fernandes-Halloran Monroe France Jayden Pantel Darren Herman Evan Wladis Neal Triplett Thomas Scriven Peter Ammon Irina Bit-Babik Tim Milanich Rob Rahbari

38

18 Comments

While there are numerous pros and cons to consider when raising a seed round, I generally agree with Gary Tan’s assessment: companies succeed when they create products that solve problems and meet customer needs, not because of the size of the check VCs write. I understand the frustration for VCs who have been raising larger seed-stage funds and need to deploy more capital per deal, but I support the founder’s decision to limit dilution early on. My advice to founders is to stay strong, be bold, hustle and take a chance on yourself, if you can solve customer problems, the same VCs who are upset about your decision to raise and dilute less during the seed round will come knocking on your door. #startups #founders #dilution #believeinyourself #venturecapital https://lnkd.in/gdmKsUje

18

2 Comments

An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

109

10 Comments

This analysis, at least anecdotally makes sense to me. In many situations, infringe and holdout is the least painful option for large infringers. The system enables it. - The plaintiff must allocate the time and $$ to assert, taking time and $$ away from selling and developing products. Even if they engage litigation financiers they are limiting their upside potential. - The infringer continues to infringe while employing stall tactics or simply relying on the painfully slow, overburdened legal system. - The cost benefit analysis for infringers - "infringe and pay lawyers" typically outweighs the cost of design around or license. - Enhanced damages and injunctions are rare. - Litigation insurance products reduce risk all around. "The Marcum report shows that there is indeed something wrong with the patent system in the United States but it’s not excessive litigation or patent trolls. The real problem is the inability of patent owners to enforce their rights against infringers. Given the difficulty of obtaining injunctive relief and the limited enhancement of damages, it is unsurprising that predatory infringement has become a standard business practice when, at worst, all an infringer can be expected to pay is a reasonable royalty and, at best, nothing at all."

5

The top three ecosystems maintained their same positions from 2020, with Silicon Valley remaining at the top, followed by New York City and London, which are tied for second. This is according to the just-released ranking of cities by Startup Genome in its annual Global Startup Ecosystem Report (https://lnkd.in/g727835s). Tel Aviv moved up one spot in the rankings and tied Los Angeles in the number 4 position. Interestingly enough, Miami jumped 7 spots to the 16th position, while the two leading Chinese cities, Beijing (8th) and Shanghai (11th), both slid. #startups #techrankings #israeltech #startupnation #techstartups #VC

6

The emergence of a large number of small venture funds may indicate that the venture industry is transitioning to a new stage of development. I believe this is an encouraging signal for micro-startups: they are more likely to catch the attention of these micro-funds, increasing their chances of securing early-stage funding and support.

1