business · Current Events · Technology · venture capital

The Real Opportunity to Re-Invent Healthcare

It’s been a while…. I’ve been quite busy over the last couple of months trying to build stuff….. I’ll explain in another post. In the mean time, I thought I’d share some content I had the chance to write for another reason on to my blog. I’ve realized I do a lot of writing but not a lot of posting. I hope with such a nice set up and audience, I’d switch that around for the rest of the year. So here’s an exercise I worked on a couple of weeks ago on defining an investment thesis for the healthcare sector. Thought it would be interesting to think of how the healthcare industry is changing as a whole and where the opportunities are for the entrepreneur, investor, and everyone else. 

Over the last 20 years, I’ve had a well rounded set of experience and exposure to the healthcare industry. I grew up in a healthcare household. My father worked for several cutting edge biotech companies and my mother has worked as a nurse in hospitals and did home care. I had cousins who all became different types of medical doctors. For several summers, I worked and interned at hospitals and pharmaceutical manufacturing facilities in my teens. I’ve been through two near-death experiences where I had to be hospitalized for an extended period of time due to mysterious diseases (a story for another day).

The healthcare industry faces some tough challenges in the next 10 to 20 years. An evolving regulatory environment and changing business models have created declining margins for public and private healthcare in the United States. While margins have declined, demand and costs have significantly increased. We’re seeing growth in our population but also a demographic transition. Baby boomers, for example, are entering a phase in their lives where healthcare will become the primary expense but with diminished savings and labor costs on the rise, how will baby boomers afford to have the same kind of care their accustomed to while dealing with a longer life expectancy and more expensive care?   

While the healthcare industry faces regulatory, demographic shifts, and margin challenges, there are some major themes that get me excited about its future. Healthcare, just like other industries, is shifting from responsive to preventative. With the proliferation of the internet, mobile, and other smart devices, healthcare is something that doesn’t just happen when you’re in a hospital. It has the potential to happen 24/7 and this has a significant implication on service delivery, business models, and product innovation.  Preventative medicine flips the traditional healthcare business model on its head and allows for an endless possibility in ways we can treat people before they ever step foot into a doctors office.

The shift to preventative health is also driven by access and the creation of information in ways we haven’t seen in the healthcare space. For example, I used 23&Me to learn about my genetic makeup/lineage but also received health reports. This information wouldn’t have been available to the average consumer or even a medical professional 10 or 15 years ago. We’ve also seen an increase in the digitization of health records too. Combined, I see a future trend of personalized and holistic healthcare service delivery that isn’t beholden to location or labor costs. This presents an amazing opportunity to solve for population growth and demographic shifts. We can improve quality of care and also deliver high-quality care at scale.

Africa · business · startups · Technology

Strengths and Weaknesses of Nigeria’s Tech Ecosystem with Chika Umeadi from Tiphub

I got a chance to talk about the Nigerian Tech Ecosystem with Andrew from Global Startup Movement Podcast. We discussed the following:
  1. Outside of access to capital, what are the common challenges for Nigerian entrepreneurs I works with?
  2. How has deal flow coming out of Nigeria evolved since I started Tiphub?
  3. Have I seen an uptick in startup activity outside of Lagos?
  4. Whats the balance of Venture vs. Angel capital in Nigeria?
Listen to it on:
Africa · business · Current Events · startups · Technology

Foresight Africa viewpoint – African entrepreneurship in technology: Challenges and opportunities in 2018

I wrote a viewpoint on African entrepreneurship in Technology for Brookings Institute’s Foresight Africa 2018 Report. Here’s a link to the blog post here.

My Notes:

  • My 1st published article in a major publication… ***touchdown dance***
  • Updates on Fundraising in Africa from 2017: Read this CNN article here.
  • After all the Black Panther fanfare, I wish I could add more information on the diaspora’s role in advancing entrepreneurship and technological advances In Africa. I believe they have a major role to play in funding, ideas exchange and actual implementation.

That’s all for now. Cheers!!

CU

#MentalNote · Self-Revelation

Life Debt

I enjoy watching movies during short flights. It helps me pass the time. This most recent trip back to Chicago was a little different. I had just concluded a successful week in Washington DC  and running a program for tiphub . We met a lot of great companies, and other stakeholders and a bunch of folks had a great time. Overall solid experience.

I found myself reflecting on my time in Washington DC and a couple of quote from Seneca hit me.

“Let us prepare our minds as if we’d come to the very end of life. Let us postpone nothing. Let us balance life’s books each day. … The one who puts the finishing touches on their life each day is never short of time.” Seneca

As I started to meditate on this quote, I realized I frequently forget to balance life’s book. So much, I’ve accumulated life debt. This debt operates similar to financial debt in a sense. It weighs you down, if you have too much, you lose out on opportunities you’d normally get, and you have less freedom.

I realized I procrastinated/ half stepped myself straight into an existence that is okay by most standards but only a small example of what I’m supposed to be.

I’ll most likely look at that moment as a turning point in my life. I realized what it really meant to live on purpose. I saw the past, present, and future all in one moment and saw what it meant to be fully committed…. All in…regardless of the probability of failure and more focused on the idea that the opportunity that passes may never come around again.

At this point I’m rambling but it’s like a light has gone on and life makes sense. Everything’s changed (except for my inability to write coherently.) for the better and I’m excited to see where this epiphany takes me.

Travel more…. you’ll start having these come to Jesus moments more and more.

#MentalNote · Random · Self-Revelation

Meditations for 2018

There are very few newsletters I read consistently as I do the Daily Stoic Newsletter.  It gives me the right boost I need each day for perspective, mortality and overall stoic philosophy.

It’s the beginning of the year and we’re all starting to do the new year shuffle. What are my goals? What do I want to focus on this year? Where am I going? I couldn’t think of a better guiding post than what I received from Daily Stoic earlier today. Here’s an expert of the email that highlights 12 focus areas to meditate on for 2018. I hope it will provide you with solid foundation as it did for me.

Clarity — Remember, the most important task is to separate the things that are in your control from those that are not in your control. To get real clarity about what to focus on in life. As Seneca put it, “It’s not activity that disrupts people, but false conceptions of things that drive them mad.”

Equanimity — To the Stoics, the passions were the source of suffering. “A real man doesn’t give way to anger and discontent,” Marcus Aurelius reminded himself, “and such a person has strength, courage and endurance—unlike the angry and the complaining.” Calmness is strength.

Awareness — Accurate self-assessment is essential. Know thyself, was the dictum from the Oracle at Delphi. Knowing your strengths is just as important as knowledge of your weakness, and ignorance of either is ego (as we show here). As Zeno put it, “nothing is more hostile to a firm grasp on knowledge than self-deception.”

Unbiased Thought — “Objective judgement, now at this very moment,” was Marcus’s command to himself. Our life is colored by our thoughts, the Stoics said, and so to be driven by this bias or that bias—this delusion or that false impression—is to send your whole existence off-kilter.

Right Action — It’s not just about clear thoughts, but clear thoughts that lead to clear and right action. “First, tell yourself what kind of person you want to be,” Epictetus said, “then do what you have to do.” Emphasis on the do. Remember Marcus: “Don’t talk about what a good man is like. Be one.” This philosophy is for life, not for the ethereal world.

Problem Solving — Are you vexed by daily obstacles or do you throw yourself into solving them? “This is what we’re here for,” Seneca said. No one said life was easy. No one said it would be fair. Let’s make progress where we can.

Duty — “Whatever anyone does or says,” Marcus wrote, “I’m bound to the good…Whatever anyone does or says, I must be what I am and show my true colors.” He was talking about duty. Duty to his country, to his family, to humankind, to his talents, to the philosophy he had learned. Are you doing yours?

Pragmatism — A Stoic is an idealist…but they are also imminently practical. If the food is bitter, Marcus wrote, toss it out. If there are brambles in the path, go around. Don’t expect perfection. Be ready to be flexible and creative. Life demands it.

Resiliency — Do you want to count on good luck or be prepared for anything that happens? The Stoics had an attitude of “Let come what may” because they had cultivated inner-strength and resilience. Make sure you’ve done your training.

Kindness — Be hard on yourself, and understanding of others. See every person you meet, as Seneca tried to do, as an opportunity for kindness and compassion. Nothing can stop you from being virtuous, from being good. That’s on you.

Amor Fati — Don’t just accept what happens, love it. Because it’s for the best. Because you will make it for the best. A Stoic embraces everything with a smile. Every obstacle is fuel for their fire, to borrow Marcus’s metaphor. 

Memento Mori — We’re strong but we’re not invincible. We were born mortal and nothing can change that. So let us, as Seneca said, “prepare our minds as if we’d come to the very end of life.” Let us put nothing off, let us live each moment fully.