![]() ![]() The real issue was that I couldn’t lie to myself anymore and believe that my work was making a dent in the monolith that is for-profit medicine in America. I knew I was being dismissed, ignored, and undervalued by the people in charge while also dealing with the every day frustrations of having my hands tied when it came to everything from choosing which birth control pill to prescribe to pre-medications for patients prior to (painful) IUD insertions in the office to being able to get prior authorization (from people who have no knowledge of what I do) to perform medically indicated surgeries. While burnout is 100% real and I have certainly dealt with it in my career (more than once honestly), it was never enough on its own for me to quit because I had my ways to handle it, I loved my work and my patients, and I *believed* I could make a lasting difference even if our system was broken.īut when I reached my breaking point in 2022, it wasn’t because of burnout alone. This article perfectly captures why I left my great-on-paper private practice job to work in digital health. #business #technology #leadership #startup HAVE YOU BUILT A TEAM THAT IS EXCEPTIONALLY TALENTED AND COMPLEMENTARY? The people who make up your team will be crucial to the success of your business, and it's important to assemble a team of individuals who have the skills, expertise, and complementary personalities to work well together. HAVE YOU IDENTIFIED A UNIQUE OPPORTUNITY THAT OTHERS DON’T SEE? Thiel believes that businesses that are able to identify and capitalize on unique opportunities are more likely to succeed than those that simply follow trends or imitate existing businesses.ħ. This can involve offering a unique product or service that cannot be easily replicated, or building a network of loyal customers.Ħ. CAN YOU CREATE A MONOPOLY? Thiel advises looking for opportunities to create a monopoly within a particular market. This may involve building strong intellectual property protections or developing unique processes or technologies.ĥ. WILL YOUR MARKET POSITION BE DEFENSIBLE 10 TO 20 YEARS INTO THE FUTURE? It's important to consider whether your business will be able to maintain its competitive advantage over the long term. This can help you to build a solid customer base and gain a foothold in the market before expanding.Ĥ. ARE YOU STARTING WITH A SMALL MARKET? Thiel advises starting with a small, niche market rather than trying to appeal to a broad audience from the outset. Timing can be crucial to the success of a business, and it's important to consider whether the market conditions, technological landscape, and other external factors are favourable for your business idea.ģ. IS NOW THE TIGHT TIME TO START YOUR PARTICULAR BUSINESS. Thiel believes that businesses that are able to create truly innovative and disruptive technologies are more likely to achieve success than those that simply make small improvements to existing technologies.Ģ. CAN YOU CREATE BREAKTHROUGH TECHNOLOGY INSTEAD OF INCREMENTAL IMPROVEMENT. Well, he asks himself these 7 questions before he commits to a venture. And as if those two ventures weren't enough, Thiel also made some pretty impressive investments in companies like Facebook, Airbnb, and SpaceX. He co-founded Palantir Technologies, a data analytics company that's now worth over $20 billion. You may have heard of it - it's the one that changed the game for online payments and eventually sold to eBay for a cool $1.5 billion.īut Thiel didn't stop there. He’s the guy that started a little company called PayPal. Peter Thiel is one of the richest men in the world. What's your take on the early stage VC market right now? There's a lot less competition for pre-seed deals, especially if you get out of the Bay Area, where the angel ecosystems aren’t very developed and there isn’t an over abundance of capital. A lot of angels and syndicates are sitting out right now. Part if this may be due to the increase in bridge rounds (which are often done at flat valuations) and multistage funds dipping into Seedįinally, moving to Pre-seed: surprisingly Pre-seed valuations have only increased 4% in the last 4 years. This could change in the next year, but right now, Seed is a more crowded, competitive part of the market. In contrast, Seed valuations have gone up 50% over past 4 years, and surprisingly, they continued to rise in 2022 (according to data from PitchBook Data). When you look at growth stage, median valuations have plummeted by 50-60% YoY. What is actually happening at the early stage? But most of the headlines are about public tech and growth stage, and that colors general perceptions about venture. 2022 has been called the year the party ended or when the music stopped… or even the hangover. ![]()
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