Latest / Low to Grow / Mental Health VC Shiv Bhavnani on building GIMBHI and AI Diagnostics
Transcript
- 0:00Getting fired was actually one of the turning points in your
- 0:02career, and that actually LED you to start getting the.
- 0:05I was at a ratings agency. There's not that many out there.
- 0:10It's the one that the one that's not S and Pi was in the office
- 0:15late one day and I found that. Welcome to Low to Grow, the
- 0:19podcast transforming life's toughest moments into
- 0:22opportunity for growth. I'm Annie, a Forbes and
- 0:26Authority technology founder who's entrepreneurship journey
- 0:29brand parallel to a mental health awakening.
- 0:32In every episode, I sit down with inspiring individuals and
- 0:36delve into how they managed to turn their personal or
- 0:39professional challenges into opportunities for growth.
- 0:42If you're facing uncertainty in your life, feeling down, or
- 0:46simply need a kick of inspiration to keep moving
- 0:49forward, this is your space for the honest and uplifting
- 0:53conversations that you will want to hear.
- 0:56Hit follow so you never miss an episode and let's dive in.
- 0:59Today's guest is Shiv Bhavnani, a healthcare investor, founder
- 1:04and one of the sharpest minds shaping the future of mental
- 1:06health. He is a partner at the venture
- 1:09capital firm Evo VC, which backs early stage startups that are
- 1:13bridging mental Health and Human performance.
- 1:15Now. Shiv is also the founder and CEO
- 1:17of Gimbie, a research and consulting firm providing
- 1:21insights into the healthcare space that has already featured
- 1:24in places like Nature, Axios and Business Insider as a global
- 1:29thought leader, have developed a thesis on generative AI in
- 1:32psychiatry and is now writing a book on AI in mental health.
- 1:37Now, Shiv is clearly someone who really gets both the science and
- 1:40the assistance behind innovation.
- 1:42But today he is joining a lot of pro podcast to talk a bit about
- 1:46his own experiences as a young professional, about big career
- 1:49pivots, finding work that matters to him, and also what
- 1:53excites him about the future of mental health.
- 1:55So, Shiv, welcome to the podcast.
- 1:57Thank you so much, Annie. That's a really incredible
- 2:00introduction. So it's very generous.
- 2:03Thank you. And it's awesome to be on the
- 2:05podcast today. Yep, excited for us to be having
- 2:07this conversation. So, Schiff, before we start, who
- 2:10do you think will benefit the most from listening to our
- 2:13conversation today? Honestly, I think it's just
- 2:16anybody who's trying to find something that they want to do
- 2:22with their career that more aligns with them.
- 2:24So basically anybody who's looking for a change and, and
- 2:27anybody who's really thinking about a career that resonates
- 2:32with what they deeply want to do.
- 2:35Wonderful. Excited to dive into it with
- 2:37you. So you know, let's just start
- 2:39with the heart of it. Why mental health?
- 2:42Well, yeah, so I could definitely talk for two hours
- 2:46about that at least. But I mean, there's so many
- 2:49reasons. I'll first start off with the
- 2:52concept that I think when we hear people's stories and people
- 2:58tell their stories, a lot of the times it's a linear narrative.
- 3:01You know, this happened, this happened, and then that drove me
- 3:05to that. Maybe that is the truth for some
- 3:07people, but I think that for me, life and pretty much everything
- 3:12has been way more of a spiral. So it's circling around
- 3:17something and getting closer and then coming back to the same
- 3:20spot, but you're closer. And I think my whole life from
- 3:24when I was in high school, middle school, I've been
- 3:27fascinated by the mind, psychology, consciousness,
- 3:30spiritual practices. That was kind of what drew me
- 3:34into the world of specifically psychology.
- 3:37You know, when you think about problems to solve, you know that
- 3:40there have been, you know, me personally and people in my
- 3:44family have struggled with mental health challenges.
- 3:48And when I look at the world and look at, you know, what problems
- 3:53are important to solve, I'm not saying it's objectively right,
- 3:56but I, I feel like the mind is really the, it's the gateway to
- 4:02everything. It's the software of humanity.
- 4:05We all operate using this tool we call the mind, or you can
- 4:11simplify it to the brain if you believe in just physical
- 4:14substrate. It just seems like, wow, all of
- 4:17humanity is really through this filter of the mind and we still
- 4:21don't understand it. People in my life struggle with
- 4:23mental illness and I came to the conclusion that the reason why
- 4:28we don't understand the mind and, and, and the brain is is
- 4:32because we didn't prioritize it as a society like putting in the
- 4:36resources and time. That's that's kind of why mental
- 4:38health for me. So interesting.
- 4:41And from your position as someone who invests into really
- 4:45early stage startups without building at the intersection of
- 4:48mental health, brain health, and as a human performance, what are
- 4:52some of the things that really excite you about the future?
- 4:56I mean, so many things, like everything for from access to
- 5:01mental health care is something that I pay attention to.
- 5:03It's like if we develop, let's say we develop some new
- 5:07treatment, but it's, it cost $1,000,000 and only 5 people in
- 5:13the world can get it, is that, is that progress?
- 5:16I would not consider that progress.
- 5:18I mean, it is one aspect of progress in the kind of
- 5:22treatment efficacy world. But I think we have things that
- 5:26do work. Access is a big problem in
- 5:29mental health care. There are some companies which
- 5:31seem, you know, maybe somewhat boring on the cover of it.
- 5:35But what they're doing is helping connect providers and
- 5:39people who really need care, usually through the very
- 5:42complicated Byzantine structure of government payers.
- 5:48So things like Medicaid. So I would, I would say 1 area
- 5:52is expanding access. That's that's what interests me.
- 5:56And, and I would say AI in terms of specifically diagnosis and
- 6:04reconceptualization of like mental health disorder
- 6:07classification, not AI necessarily in terms of AI
- 6:11agents. That, that that's interesting to
- 6:13me, but less, less so than using AI to basically redefine what
- 6:19mental illnesses and identifying different types of biomarkers
- 6:23for mental illness. Because I think today what we
- 6:26think of as depression is probably 16 different disorders,
- 6:30probably overlapping with our definition of anxiety.
- 6:34Or that's just a, a random example, but our classifications
- 6:38aren't necessarily real. They're kind of made-up.
- 6:40That's interesting. So what you're saying is using
- 6:43AI tools to, I guess, more effectively segment the
- 6:47different classes of mental disorders so about people can be
- 6:50treated more effectively based on what subset that they have?
- 6:53Yes, exactly. That process will involve
- 6:56rewriting the DSM. People always ask the question,
- 7:00is that practical? I think that ultimately it'll be
- 7:03necessary for us. We will hit a roadblock in terms
- 7:06of how effective our treatments can be without new
- 7:10classifications of disorders. What does CSM stand for?
- 7:14The diagnostic manual, basically it's a manual of mental health
- 7:20disorders, kind of like gold standard for diagnosis.
- 7:24OK, understood. You've talked a bit about the
- 7:27diagnostic portion. What about using our tools in
- 7:30the treatment of certain mental health conditions?
- 7:33Yeah. So we, we've seen AI therapists
- 7:36as everybody knows, that's kind of, or maybe I'm just in a
- 7:40little bubble, but I feel like there's been talk of AI
- 7:43therapists as of the last year or so.
- 7:46So that's like, you know, a autonomous agent that
- 7:50potentially treats people. You have clinical decision
- 7:52support tools for providers and therapists and any, any type of
- 7:58other mental health professional in the space.
- 8:00I think it's definitely interesting and there's a huge
- 8:02need and demand for it. If you think about how many
- 8:06people are using ChatGPT or any kind of consumer LLM for
- 8:12emotional and mental health support, it's already there.
- 8:15It's people are using in 10s of millions of people are using
- 8:20those tools for mental health support.
- 8:22Now you can argue, is that right?
- 8:25Is that going to be effective? That's another question, but
- 8:29people are using it, there's big demand for it, that there's a
- 8:31very interesting case for AI to be used directly as a treatment
- 8:37like some type of treatment agent.
- 8:39But like I said, I think diagnosis is actually in kind of
- 8:43redefining mental and brain health issues and disorders.
- 8:48I think there's there's huge potential there.
- 8:50Which organizations in your view are leading development and also
- 8:54driving the end use of using AI in diagnostics for mental
- 8:58health? The diagnosis front, that's
- 9:01still largely being done by universities and you know, there
- 9:07are definitely some companies that have worked on identifying
- 9:13blood based, neural based or even digital behavior based
- 9:19biomarkers for mental illness. But it seems to me from from the
- 9:24outside, it seems like it's tough to do that without making
- 9:28sure what you're looking for is homogeneous.
- 9:32Like let's say, let's say depression for example.
- 9:35There's been some very interesting companies that have
- 9:39worked on voice based biomarkers for depression and anxiety.
- 9:43One of those companies is Kintsugi.
- 9:46Another company is Themia. And I think they've actually
- 9:51been somewhat successful and made some serious progress
- 9:55there. But I think the more specific we
- 9:57can classify illness than, you know, finding a biomarker for a
- 10:01very specific presentation of something is much potentially
- 10:05easier. It's chicken or egg obviously
- 10:07too, terms of AI agents like chat bots for therapy.
- 10:12There have been a huge, huge proliferation of these
- 10:15companies. There's been dozens and dozens
- 10:17and and kind of the juries out. We have yet to see who will
- 10:21emerge as a winner in this space or even from a clinical
- 10:25perspective. Understood.
- 10:28I want to take a step back. Where did you start your career?
- 10:31Started my career in the financial services world.
- 10:34My first job out of school was working at Morgan Stanley on a
- 10:39sales desk, selling a kind of complex product to banks and
- 10:45insurance companies. Just a far cry from the world of
- 10:48mental health and healthcare innovation when I was in
- 10:51college. Extremely interested in the mind
- 10:55of the brain. I started off as a neuroscience
- 11:00major actually, and through a kind of rough year for me when I
- 11:07was 19, I failed out of almost all of my courses in one
- 11:11semester, which were very heavy on neuroscience.
- 11:15So my advisor was like, well, listen, like you're going to
- 11:18have to take attention next extra semester.
- 11:21It's probably not possible with like the course offerings of
- 11:25different labs and things to finish it in time.
- 11:27He was like, well, why don't you just do it for fun and you don't
- 11:31have to major in that? That's what I ended up doing.
- 11:34That kind of sent me in this interesting path because I
- 11:38substituted the neuroscience major with an econ major and
- 11:41sent me down this path in finance.
- 11:43And I never really intended to go down the path, but what I was
- 11:46doing was intellectually stimulating enough.
- 11:48I was working with structured credit, so highly financially
- 11:53engineered products, effectively collateralized loan obligations
- 11:57specifically. I worked in that for a few years
- 12:00across a few different firms and I realized like this is so
- 12:05divorced from reality because it's pretty abstract what we're
- 12:12doing. I just felt very far from my
- 12:14personal mission. I was about to kind of go deeper
- 12:17into space and I got an offer from an investment fund to go
- 12:21work as a credit credit investor and I decided to change my path
- 12:26and I started Gimme. I started a newsletter covering
- 12:30the entire mental health startup innovation ecosystem.
- 12:33You mentioned getting fired was actually one of the turning
- 12:36points in your career and that actually LED you to start Gimme.
- 12:40Could you share a bit more about what led up to that event?
- 12:44I was at a ratings agency, which I won't name, but there's not
- 12:53that many out there. It's the one that the one that's
- 12:56not S&P. At the time I was rating and
- 13:00doing research on structured credit.
- 13:03Like I mentioned before, the product called collateralized
- 13:06loan obligations. At the time there were all these
- 13:10new startups coming out that we're lending to individuals.
- 13:14So it's called marketplace lending or P2P lending.
- 13:17So they're making these kind of unsecured loans or it was a
- 13:20person making the unsecured loan.
- 13:22I found that basically as as the industry matured, a few Wall
- 13:27Street firms started to buy the loans, package them, and then
- 13:32sell them as bonds, very similar to a mortgage-backed security or
- 13:36collateralized loan obligation, very similar structures.
- 13:39I was in the office late one day and I was like, just like
- 13:42reading obsessively as I do. And I was reading through some
- 13:46of the filings for the securities and I found that
- 13:49there was no validation of the information on the loans
- 13:55anywhere in this life cycle of origining the loan, selling it
- 13:59into an SPV and then, you know, selling bonds based on on that.
- 14:04Another way to put it, like the nutritional facts on the bonds
- 14:09were fake. There's like basically 0 proof
- 14:12for that. I brought it up internally and
- 14:14I'm like, wait a second. Like, you know, I just watched
- 14:17the Big Short, the, the financial crisis when I started
- 14:20a career that was like very close in the rearview mirror.
- 14:24A lot of folks had lost their jobs during that.
- 14:27And of course the whole world went through a global financial
- 14:30crisis. I brought it up internally and I
- 14:32said, hey, like we're vetting and rating these securities and
- 14:37we don't really bring this up as a risk like it is an issue.
- 14:40At least I'm not saying to totally condemn everything, but
- 14:44just say, hey, the the originator of the loan is
- 14:47basically saying all the information on these loans could
- 14:49be totally fake and we have no liability there.
- 14:53And then the structure of the bond was not doing any kind of
- 14:59due diligence on the portfolio of loans to, to validate any of
- 15:03this information. So huge, huge risk if it got
- 15:07bigger, if this became a systemic problem, which it
- 15:10didn't, but if it did that, you know, that'd be a serious issue.
- 15:14And even just for any of the investors in these bonds.
- 15:16Long story short, I, I, I wrote a whole research paper on it
- 15:20internally. I, I circulated it.
- 15:22However, the financial institutions that were doing
- 15:27these securitizations were very large and they had very close
- 15:32relationships with the ratings agency goes back to the age-old
- 15:36incentive misalignment and in the ratings world.
- 15:40But they kind of refused to publish it.
- 15:43I'm like, what's going on here? Like, you know, we could just
- 15:46mention this as a paragraph in a report.
- 15:48Like I don't need this to be a whole thing.
- 15:51And there was almost like 0 receptivity to it.
- 15:55They usually do. I like to shed light on things,
- 15:58be transparent and do what's right.
- 16:01And I published it with a large news outlet and then an industry
- 16:05trade publication. I said these are my opinions.
- 16:08They don't reflect anything having to do with the firm I
- 16:10work at or anything like that. But very swiftly I was called
- 16:15into the office and told to leave.
- 16:17I'm glad I did it. I don't have 0 regrets, you
- 16:19know, doing the right things that you can never regret it.
- 16:22But it did make me think of like, wait a second, maybe I
- 16:26need to actually do what I originally kind of conceived of
- 16:31as my career working in the world of mental and brain health
- 16:36innovation. But at this point, I have, you
- 16:38know, no background in neuroscience or mental health.
- 16:42So what do I do? I do what I know best is and and
- 16:45start publishing market research on the space, covering all the
- 16:49investors and startups in the space.
- 16:51Not right after that, but a couple years after that.
- 16:55After I'd toyed with the idea, I jumped in.
- 16:58Wow. That's an amazing story about
- 16:59how you actually went back to your roots of neuroscience and
- 17:02your interest in brain and mental health while I was doing
- 17:04a detour loop. Interesting.
- 17:06Thanks for sharing your story, Chip.
- 17:07When you were recounting it, you made it sound very streamlined
- 17:11and almost quite matter of fact, getting fired.
- 17:14No one likes fat. And then kind of deciding how
- 17:17you're going to re enter the workforce after getting $5.00.
- 17:20So it's really difficult for any of our audience members who
- 17:23might be going through a similar thing.
- 17:25What advice would you give them? I actually found a job honestly
- 17:29after that, like very quickly. I think the bigger question was,
- 17:33was that the right job after that or should I have, you know,
- 17:36started Gimme earlier? I think I would have liked to
- 17:39start Gimme earlier than I did now.
- 17:41I was thinking about it at that time, but I just didn't see
- 17:44commercial path to actually kind of making it something that pays
- 17:48the bills and that you can make actual make a living off of.
- 17:51I went back into the finance world after that.
- 17:55I would tell people if you're going through a tough time like
- 17:58that, I would really take the opportunity to reconsider what
- 18:03you want to do and what you really want to do because this
- 18:07could be a gift of some time and space to rethink what you want
- 18:12to do. Really use that gift of
- 18:16redirection. Sometimes it's like, oh, you're
- 18:19doing exactly what you want to do and then you get fired.
- 18:22That's one thing. But if you're, you know, not
- 18:25totally aligned with what you're doing, you're leaving energy on
- 18:28the table. There's a lot of friction and
- 18:30energy loss through doing something you don't really want
- 18:34to do. I like that earlier when you
- 18:39mentioned the bigger question for you was should you have
- 18:42started can be earlier? For how long was can be your
- 18:45mind before you actually started actioning and building it?
- 18:49Probably way too long, around three years.
- 18:51I don't know why it was an idea. And then I'm just taking more
- 18:55seriously than I was actually thinking about a business model.
- 18:58So I started to study for the psychology GRE because I was
- 19:03thinking about going to master's and PhD program in psychology
- 19:07after I got fired. So basically that, yeah, that's
- 19:09something I started to do. So maybe it wasn't the idea of
- 19:12Gimme specifically, but it was in the world of mental health
- 19:15innovation. OK, interesting.
- 19:17And could you explain a bit more about about, you know, exactly
- 19:20what Gimby does at the moment? We're the global Institute of
- 19:23mental and brain health investment.
- 19:25Our mission is to drive more capital and resources into
- 19:31mental health, mental health innovation.
- 19:34My diagnosis of the problem that like, wait a second, why are why
- 19:39don't we have enough treatments? Why do we, why has this, this
- 19:44therapeutic area been significantly underfunded for
- 19:48decades? So I started to look, look into
- 19:51these problem. I found that it's not that a lot
- 19:53of people say, oh, it's so complex.
- 19:55It's I think it was less that and more of that as a society,
- 19:59we didn't really prioritize mental health.
- 20:02There's a lot of stigma. I think humans in general
- 20:05prioritize things they can see. You could see a tumor you can't
- 20:10totally see. A mental illness that you can
- 20:14see, oh wow, this brain looks differently than the spring, but
- 20:17it's it's just harder to see. So I think that in a sense was
- 20:21de prioritized. Then you have stigma, a huge
- 20:23amounts of stigma amount mental illness.
- 20:26We track the entire mental health innovation ecosystem.
- 20:30We track funding and basically trends.
- 20:33It's how we started and from there, investors, investment
- 20:36funds, Angel investors, nonprofits, anybody that had any
- 20:41interest in mental health innovation started hiring us as
- 20:45a Consulting Group. He would work on different
- 20:48engagements, everything from strategy to standing up in the
- 20:53innovation arm for nonprofits to investment work and due
- 20:58diligence on startups. So basically anything that
- 21:01involves mental health innovation specifically, say the
- 21:04functional areas we get hired for, our fundraising strategy,
- 21:10business development and recruiting, people want to know
- 21:12what's happening in the mental health innovation landscape.
- 21:16It's changing very quickly. I'm curious when you first
- 21:19started Gimbie, what about operation look like was it just
- 21:23you or did you have you know other founding partners that you
- 21:25put on from the very? Beginning I was the main
- 21:28founding partner. We, it was just me at the
- 21:30beginning, but then we, when we started to get consulting
- 21:33engagements and, and have revenue, then we started to hire
- 21:36folks. But yeah, at the beginning it
- 21:38was just me. Before AI scouring the Internet,
- 21:42making a big database of every single company, doing countless
- 21:46calls. I was doing over 20, sometimes
- 21:4930 calls per week with founders, investors in the space.
- 21:53It was a really busy time and it's cool to be here today.
- 21:58For me, it's really, yeah, cool to see.
- 21:59You probably can be into almost like a international
- 22:02organization. So I know you do kind of events
- 22:05and those activities in the US as well as in the UK.
- 22:08Quite curious if you had to summarize the biggest change in
- 22:12mental health related funding that happened over the past
- 22:15year, what would it be? A few things.
- 22:18The exuberance from 2020 to 2022 is significantly subdued.
- 22:23There was this real euphoria and leading to a lot of investments
- 22:29in the space and some investments that probably
- 22:31shouldn't have been made. That's a, you know, a large
- 22:34trend. AI advancements are basically
- 22:37rocking and transforming every single industry and mental
- 22:42health is no exception. They're just interest in AI, but
- 22:45we're seeing a little less precede funding.
- 22:48And that's where as a partner at Evio Venture Capital, that's
- 22:53that's really a privilege to be funding precede companies.
- 22:57There's a lot more trends. We'll be putting out a report
- 22:59probably in a few months. That's kind of what I see in a
- 23:02nutshell for the broader audience.
- 23:04Thank you. That's interesting.
- 23:05And I know it was a difficult question because it's such a
- 23:08broad category. You mentioned your work with EVO
- 23:11VC. If you had to pick one of your
- 23:13current portfolio companies that is really, really exciting for
- 23:16you, which one would it be and why?
- 23:19It's a really good question. I mean, it's like kind of
- 23:21picking your favorite child. It's tough.
- 23:24This is an interesting one. It's called Third Space Therapy.
- 23:28Third Space delivers therapy and mental health care for Medicaid
- 23:33patients. On first look, this doesn't seem
- 23:37that novel or interesting, but there is a severe shortage.
- 23:44If there's a general provider shortage for mental health care
- 23:48that's significantly more pronounced in the Medicaid
- 23:51population. And the reason is Medicaid
- 23:54reimbursement for mental health care is relatively low and
- 23:57operational complexity, cost of compliance are high.
- 24:01It's just operationally harder to serve Medicaid patients
- 24:06because of all the government requirements and reimbursements
- 24:10law. You have a bunch of providers
- 24:11who say I don't take Medicaid, I don't take Medicaid, I don't
- 24:14take Medicaid. And that's a shame because there
- 24:17are folks in that population who really need mental health care,
- 24:21and it just doesn't really make sense from a financial
- 24:24perspective for some providers to take Medicaid.
- 24:28Search space is basically expanding this access and making
- 24:32the model work by streamlining a lot of the compliance and
- 24:38operational complexity that comes with serving Medicaid.
- 24:41So a little less exciting. You know, it's not like a robot
- 24:46that can talk to you, but it's really having a positive impact
- 24:49on the world. And this goes back to what you
- 24:53were saying at the beginning of our conversation, which is the
- 24:55companies might not look very exciting on the outside, but
- 24:58they're doing the core almost like bread and butter work, but
- 25:01as needed in order to make mental health care more
- 25:04accessible to more people. Yeah.
- 25:06And I think, I think there are definitely exciting companies as
- 25:09well. It's just that I think if you
- 25:11really want to make lasting change in healthcare, you have
- 25:14to work with the system. A lot of our portfolio companies
- 25:17do that extremely well. Understood With your VC lens,
- 25:22what are some of the key things that you look for in a startup
- 25:27that might come to you looking for investment?
- 25:30That's a really good question. There are so many things in
- 25:33terms of like the problem they're solving in the solution,
- 25:36but like putting that aside, because that's very industry
- 25:39specific, I would say for founders.
- 25:42And we actually have a kind of complex founder assessment
- 25:45process at EVO. But something that we look for,
- 25:49and I specifically look for is problem obsession.
- 25:53Founders who know the problem in and out, like very, very
- 25:57obsessed. They know every groove and it's
- 26:00like knowing every secret way into the castle.
- 26:03Like you really studied it and you, you, it's, it comes across
- 26:06that your obsession is not just like mission obsession being
- 26:10like, Oh, I hate this, this, that this exists and I really
- 26:13want to solve it. It's that passion gets
- 26:16alchemized into real knowledge or attempts at gain gaining
- 26:21knowledge to like just mental obsession with the problem.
- 26:24And I think that's always pretty palpable.
- 26:28You know, see a lot of lot of founders who aren't.
- 26:30And I'm like, well, this is going to be a long journey.
- 26:33And if you're not obsessed with the problem and not emotionally
- 26:36obsessed, I think that's the first step of like, actually,
- 26:40you know, being driven and passionate about the issue.
- 26:42But does that crystallize into action and like learning about
- 26:47in every way you can. If I, you know, I want, I want
- 26:50to see people who find ways to get information where there is
- 26:53no information. If you're really obsessed with
- 26:56the problem, you're going to find the info.
- 26:57You're going to figure it out. Oh, I talked to 8 people.
- 26:59No, I, I found them. I got introductions, referrals
- 27:04to these people who introduced me to them.
- 27:06And then I taught there, you know, just just when I see that
- 27:09resourcefulness and kind of intensity about the problem,
- 27:12that's, that's a good thing. If you had to give an estimate,
- 27:15what percentage of founders that you do come across to hear
- 27:17pictures from actually have that founder obsession?
- 27:22But I think the bar of probably like one out of 10.
- 27:28Interesting because the first thing that came into my head was
- 27:30the start, which is AC funds generally expect one out of 10
- 27:34of the investments to become a Unicorn.
- 27:36So I think it's interesting that's the same start there as
- 27:38well. Yeah.
- 27:40And you know, that's one aspect, right, If you could be really
- 27:44obsessed with the problem. But we know let's say this
- 27:48industry and we're like that, that solution doesn't, we don't
- 27:52think that that approach is correct for that problem or we
- 27:56think that this is not totally scalable to won't achieve
- 27:59venture scale. So there there's a hundred other
- 28:02reasons and investment might not be a fit for a fund.
- 28:06But in terms of that kind of like more behavioral problem
- 28:09obsession, yeah, I would say maybe one out of 10.
- 28:14And either you have a specific type of founder analysis.
- 28:19I read somewhere online that either you assess how well
- 28:22founders know themselves, which is a big factor in whether or
- 28:25not the firm decides to invest. Could you expand a bit about
- 28:29what that actually means? Our founder assessment process
- 28:33is pretty, pretty long and complex.
- 28:36But yeah, self-awareness is something that I think we, we
- 28:39definitely look for. What do we mean by self
- 28:42worthiness? My take is that it's important
- 28:45as a founder to know, like this is a cliche, but it's true to
- 28:50know what you're good at, know what you're bad at, to basically
- 28:53have a really clear idea of your own strengths and weaknesses.
- 28:57Because only if you understand and acknowledge what you're bad
- 29:02at can you plug the holes. But if you, if there's no
- 29:04awareness of that, it's very tough to to do that.
- 29:09It's self-awareness with respect to 1's strengths and weaknesses
- 29:14when it comes to operating. Thanks so much, going to move on
- 29:19to our podcast staple. What is one thing that you
- 29:23believe will allow more people to have better mental health?
- 29:27I might break the rules here and say two things because I can't
- 29:30choose between these. I think 1 is just sleep.
- 29:34Sounds so obvious, but, you know, for years I would have
- 29:38ambient light in my bedroom that totally just destroys your
- 29:42sleep, like blackout curtains. It's got to be, you know, it's
- 29:45really got to be pitch black if you can.
- 29:47And I mean, maybe that's. Yeah, I think that's important.
- 29:52So good sleep for me. What disturbed it was light and
- 29:56temperature. It's like, you know, it's got to
- 29:58be cold and dark to sleep well. So I'd say that and then, you
- 30:03know, mental health, and I'm, I'm talking about just generally
- 30:07staying mentally healthy is not just kind of reflecting in your
- 30:09mind, but running that self reflection via verbalizing it,
- 30:14by writing it or even recording a journal, doing some type of
- 30:18structured self reflection. Be like, why did I do that?
- 30:22Why did I think that? Why did I feel that and ask
- 30:25those questions and get answers versus just running towards the
- 30:28next thing in your life? Chip, it's been a pleasure to
- 30:33have you on the Low to Grow podcast.
- 30:36Yeah, it's been a pleasure being here, so thank you, Annie.
- 30:39That's a wrap for today's episode of the Low to Grow
- 30:42podcast. If it resonated with you, leave
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- 30:48conversations. Keep growing and see you next
- 30:52time.