E37: Errik Anderson on Co-Founding 20 Biotech Startups Cumulatively Worth $10B+

10X Capital Podcast

The 10X Capital podcast interviews the world's premier institutional investors to deliver insights on how they manage their capital. Interview topics include investment decision frameworks, capital allocation strategies, GP/LP relationships and many more.

E37: Errik Anderson on Co-Founding 20 Biotech Startups Cumulatively Worth $10B+

E37 • Jan 30, 2024 • 61 mins

Errik Anderson sits down with David Weisburd to discuss Pro-noia, the potential of the biotech industry, and the 82VS Seed Fund investment approach. They discuss practicing Pro-noia, the value of building a portfolio of relationships, and the idea of a forever company.

Key Points

The importance of pronoia, a mindset of believing that people are conspiring for your success rather than against you.
Approaches to biotech innovation involves creating a startup factory model that mitigates common industry risks by focusing on the unique 10% of each company.
Alloy Therapeutics aim to revolutionize drug discovery by leveraging shared infrastructure and reinvesting 100% of their revenue into continuous innovation and access.

Speakers

Errik Anderson

Guest • 86%

David Weisburd

Host • 14%

Chapters

0:00	Introduction to pronoia and its importance
0:20	Background on Errik Anderson's career and co-founding companies
0:49	Adamab's business model and biotech's impact on the world
3:28	The role of AI in biotech and the concept of a startup factory
7:47	Challenges in biotech and applying tech investment models
12:36	Alloy Therapeutics' business model and biotech economic challenges
18:15	Reducing costs and differences between digital and biotech startups
20:22	Experimentation before funding and fund size strategies
22:45	The importance of collaboration in the investment world
25:33	Collaborative approach: Benefits, challenges, and early-stage investments
32:00	Balancing small bets with long-term relationships and mental diet
37:33	Creating wealth, family values, and children's focus on strengths
45:49	Mentorship styles and finding satisfaction in work
49:26	Strategic finance, partnerships, and personal growth
53:54	Future plans for Alloy, collaborative investments, and fund management
59:10	Alloy's commitment and the concept of generosity in business
1:00:42	Closing remarks and gratitude
1:00:56	Sponsor: Carrier Labs and newsletter announcement

Transcript

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