YouSaid · the spoken record

Justin Mares

lines on the record: 93
first: 2023-06-20
most recent: 2023-06-20
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Sam Altman, exactly, who have deep domain expertise, have vision, and then have the ability to pull together capital and bet on people in their network and be like, hey, whereas 15 years ago, maybe Sam goes, can't remember his name, but the guy who's working on the longevity company with him, I'm going to fund you and you run at this thing. Here's $5 million. Now he can be like, I'm going to co-found this thing. We're going to raise $150 million. And I'm going to put my network, my brand, my reputation, my capital on the line with you, empower you to run this thing with me as this enabling chairman, co-founder, sort of master apprentice role. I think stuff like that is going to become much, much more common.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Than that, as software was just starting to become a thing. If you knew how to code, you had a better chance of building a valuable company in a space that you didn't understand than someone who deeply understood a space but didn't understand how to code because software was such an incredible tool. I think today that has sort of flipped where I think that deep domain expertise, the huge outcomes that are driving a lot of startup returns today are often being created by people that have deep domain expertise and know how to wield software as a tool. And so I'm kind of bullish on people like Elon or people like Orion Peterson or Jack Dorsey or some of these types.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's all those things. And I think that kind of similar to the Edge City comment, people tend to cluster and have heterodox ideas in multiple domains. I think the same thing is true of founders. Maybe this isn't true in B2B SaaS or something like that, but in some of these frontier tech things or companies where you have these hardcore technologists that are trying to build things that don't exist, it's kind of weird when you step back and think about it that Jack Dorsey has the idea for Twitter and also has the idea for Square and also is like an early Bitcoin adopter Why is it that we have some of these figures that have all of these overlapping frontier sort of interests? And I think that that combination of curiosity intelligence network getting exposed once you're doing a thing that is a new and interesting idea in a space you just get exposed to way more new and interesting ideas and people in that space and I think that we are at a phase right now where in 2008 even earlier”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Company outcomes. I think that there are power laws in people that exist to a crazy degree. And I think we all implicitly agree with this and almost no one explicitly states it. And I think that it is going to be way more true that someone like Elon Musk is way more likely to start five massively important companies, which he has. I think we are going to get used to and see more Elons that are starting multiple companies in an important domain than we are going to see like five discrete people who all arrive at the same viewpoint and then start these sort of one-off careerist founder types.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, I think that the question of capital allocation information around starting new businesses looks a lot like it has for the last several years around investing in people and investing in great founders. I basically think that it is true across domains that the easier something becomes, the more often people will do it. If we can make it easier to spend HSA FSA funds, hopefully more people will use those funds to invest in their health. As it becomes easier for the average person to start a company, to build software, to launch a consumer product, a consumer brand, whatever, you're going to see way more people do it. And I basically think that the barrier to entry has never been lower, where I think for the first time now, you are going to be able to see, especially with the rise of like GPT and a bunch of these other productivity tools that make building software or other things easier. I think that you are going to see the rise of the like multi-company founder become a much, much more common thing. And I basically think that people talk about power laws and”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Understand and account for the externalities that are being created by our toxic food system. And for the US or some organization, Trumet is a small part of this. But I think it's vitally important to the success of our country that we have a food system that makes people healthier and not sicker when they engage with it. And that is not what's happening today.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Health issue. If I had to choose, this is the most likely issue to end the American experiment or like cause real structural problems where the U.S. becomes non-competitive, becomes sick. We cannot have a healthy society made up of sick people that can't function are overweight, mentally ill on 18 prescriptions, all this sorts of thing. I think that this is truly like a crisis that the US should be gearing up to solve and take it seriously as it has defense over the last 50 years or any number of things that the US has kind of approached head on and tried to fix. The last thing I'll say on that is that I think that this is truly like a national issue until like the 1970s health was basically you were born with health. It was like your God-given right and that is no longer true. So many kids are being born without this thing that our grandparents, great grandparents, all these people just took for granted. I think that it is up to us to prop”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“The core thing that I would say every player in the healthcare and food system today makes more money when a consumer is sick. If you think about structurally, how much money is the healthcare system making on you as a healthy guy probably rarely interacts with the system, just pays your insurance premiums and moves on versus someone that's on 17 medications, kept alive, goes in for a couple surgeries a year, and the like. The healthcare system just makes way more money treating people that are chronically ill than they do healthy people. This is why I think you basically see almost no money, like less than 3%, is spent on prevention. 97% of all healthcare dollars are spent to treat someone after they're actually sick. And that leads to people treating symptoms, not treating underlying conditions, and millions of people getting treatment after treatment, pharmaceutical prescription after pharmaceutical prescription, and the whole country gets sicker at the same time. I basically think that this”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Or feel a craving to eat more of it than kids that were raised off of junk food. I think that, and you combine that with looking at how many children are now diabetic, pre-diabetic, have fatty liver disease, things like this, that 25% of kids have pre-diabetes, 45% of kids are obese or overweight. We are stacking the deck against our kids by feeding them toxic food that is making them sick. And we're doing that at a societal level to the almost majority of children that are growing up in the US today. And I think that is incredibly concerning.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“First off, I'd say, as far as kids nutrition, one of the saddest statistics in the US, I think, is the fact that today, if you rely on school lunches as a main source of nutrition and calories, that is a risk factor for childhood diabetes. The same as being born to a parent with diabetes or any of these things. Crazy. What that means is that our school lunches and the school lunch program that feeds tens of millions of kids in the country is literally poison. I think that that is wildly concerning to me. If you think about so much of a humans cognitive development happens before the age of five, so much of one's immune system development and gut function and all these sorts of things happen before the age of five or six. If you look at studies that show that parents who eat a bunch of junk food, their children are more addicted and more likely to get addicted to junk food. They have a higher tolerance for it. They need to eat.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Which I think seems crazy, but the other thing I try and keep an open mind about is it may be that that specific instantiation of the way that Bekamel, the guy who came up with terrain theory, it may be that his instantiation, knowing what he knew in whatever it was, like 18 something or the early 1900s, what he knew about disease and whatnot wasn't accurate then. But he may be on to something. It may be true that, and it probably is true, that a more inflamed person is also more susceptible to disease. Is that a bacterial thing or does that have to do with the terrain of the organisms and the cells and all these sorts of things? I don't know. And I'm open to being wrong on that. Like I'm pretty sure that terrain theory as it's presented today is wrong. But I'm also open to changing that.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“It's basically like if you were to break your ankle and go to the doctor's office, germ theory says we think that this break is what's causing the swelling and is the thing that we need to fix. Whereas terrain theory would say we think the swelling is what caused the break and we need to address the swelling. They kind of look at the environment and try to say that is what's causing the issue versus the actual thing”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a couple I would say that this glyphosate theory is a pretty interesting one. There's people out there that Zach Bush is one of these people that talks about how glyphosate he thinks pulls apart and creates a lot of opportunity for gut dysfunction. And gut dysfunction is the underlying driver of a lot of these chronic inflammation illness, a lot of food allergies, things like these that I think are pretty interesting. There is something called terrain theory that I found out about a couple weeks ago over lunch where someone was saying that they don't believe in the germ theory of disease. They basically think that the terrain theory says it was apparently a competing theory by another Frenchman at the time of like Pasteur who came up with germ theory that there are small particles in your cells basically that create the terrain to which bacteria and viruses are attracted and that terrain is sort of the thing that causes disease not bacteria and viruses themselves.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Thousands totally. I think that people don't appreciate how the extent to which if you're a curious person who is trying to understand what's going on in the world in a domain that's not fully mapped yet, if you just go in and start asking questions of these people, everyone's like, oh, thank God. Like I would love to talk some more people about this weird out there idea that almost no one understands and that you're putting in the effort to actually understand. And I often find that so many times you will find someone who is an interesting thinker in one domain, who is open and like thinking at the edge of X space, who also has really interesting ideas in six other domains. And I think that is fascinating. And so if you just find the areas or the frontiers of like a couple things that you're interested in or find exciting and plausible or that you're curious about, it's amazing the extent to which these people will also have heterodox ideas in other domains.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I emailed him after reading that post. You said this. Well, what about this? My model of the world is different here. And when we met up for the first time, he was like, I've gotten like two emails all year from this thing that I've put 30 hours of writing and thinking time into. Well, writing time, probably way more from a thinking standpoint.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Work for Google, you know what I mean, operate in a domain that humans already broadly understand? No, they get attracted to areas that are illegible, that are untractable, that are hard, that reward original thinking, where an existing player has not already exploited the search space or the trade-off space of a new idea. And as more and more people cluster in these domains, turns out that these weird curious people like being around one another and like spending time in these sorts of domains. And so I would say that I don't have a talent source. Well, I have one talent sourcing strategy, which I'll talk about in a sec. But for the most part, Mike Johnson is a good exampler. I was not sourcing him as a talented person. I read his blog, which was on The Symmetry Theory of Valence, which is a new theory of consciousness that Mike Johnson is writing about that's like a 40 minute read on this blog, open theory.net. I don't know how I found, but it's certainly not in the New York Times.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Large part of this is kind of what we were talking about oftentimes talent and the most ambitious talented people cluster in EdgeCity. They sort of end up at the frontier of ideas that are interesting to them because they've been bored by everything else. If someone else has already mastered a domain or Google has already figured out search or whatever is a super ambitious person going to go like,”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“That are not predictively working. We have a really good model of how bones break, how they regrow, how tissues heal around that, and we can use that knowledge to actually fix leg breaks and stuff like that in a very certain predictive way that's extremely effective. The same does not exist of consciousness. The same does not exist in mental health. The same does not exist to any of these things. And so I've been working on a theory of consciousness that is incredibly dense and very interesting that is unlike anyone that I've ever come across.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I have a friend Mike Johnson who is probably my most out there friend who is the sweetest, deepest thinker I have ever met my entire life across multiple domains and it's not even close. He started a consciousness nonprofit and a research institute that as he said is trying to do to consciousness what like chemistry did to alchemy. Alchemy we basically were like throwing shit at the wall oh i think this works i think this doesn't there were no underlying principles that made alchemy in the words of carl popper falsifiable predictive science or way of thinking chemistry changed that right now consciousness and the experience of qualia the experience of being conscious has a very similar thing it's very similar to the mental health thing where we don't understand the underlying what's going on from a mental health standpoint and because we don't understand it we basically throw treatments at the wall”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Fine, and that it's like some crazy environmental chemical that is just wreaking havoc on the average American glyphosate and it just happens to be more in like corn, soy, and wheat, which means that it's in more processed foods. And so when you look and you go processed foods, vegetable oils, probably bad. It was actually just like no glyphosate's in every processed food. And it's just destroying people. I would say there's a chance that that is true. Do I think it is probable? No, but I think there's a chance. And so I think that there's a openness to new ideas to and a curiosity and sort of like a low ego willingness to be wrong sort of search for the truth and willingness to like talk to people, have my ideas change, push them on their ideas that it's very fun. And I think those are like the main characteristics of people that tend to live on Edge City and that are people that I tend to really enjoy being around.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that it is an extreme openness to being wrong. Literally, I would say 100% of the things that I've said on this podcast, I am open to changing my mind on in the next 10 years. There's a chance that it is true that ultra-processed food and vegetable oils and all these sorts of things are actually like”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“We'll give you a Catholic. There's a treatment plan that in 99. Whatever percent of cases results in Patrick has the leg that is like whole and working mostly almost as well as it was before. If you look at the average person that is depressed and walks into a therapist or has a mental health issue, the medical world does not look like that at all. SSRI is sort of a corn flip if they work or not. Talk therapy statistically is like also a coin flip. Doesn't really work for most people. We don't have anything even resembling a model of what works well to take someone from a place of depression and unhappiness and anxiety and whatever to, oh, this human is like fully functioning and in a really good place again. I think that psychedelics right now are the best tool and the most powerful tool that we have that somewhat resembles the acute medical sort of treatment analog of this person has an issue. We're going to run this treatment or intervention on them and it will”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I think psychedelic therapy is one of the most important and profound potential treatments that we have to address a bunch of issues that we have in the US. We truly have a mental health crisis in the US. And if you look at the efficacy of psychedelic assisted therapy for PTSD, treatment resistant depression, anxiety, addiction, substance abuse disorders and the like, the evidence is incredibly clear that these sorts of substances and treatments are extremely effective better than SSRIs, better than almost anything that we have to offer someone today who struggles with mental health. I think that they are going to, over the next decade, become an increasingly large part of the toolkit that we use to treat people that struggle with these different mental health and other disorders. If you think about it, if you walk into a doctor and you have a broken leg, basically they're like, oh, yeah, yeah, we know what to do with this. We'll look at the leg. We'll take some x-rays.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Up with it with my friend Dylan Binan, who started the first ketamine assisted therapy company in the country called Mind Bloom.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Super deep on. If you were to talk to a movie star or someone, I would imagine they could ask you questions about investing and you guys would connect and you'd be like the high status person in that conversation. And I think that's very true. Where does your status outstrip what normal social rank or social status?”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the best markers is basically if you're friends, people you know are asking you a lot of questions about a given topic. And when you sort of return the favor, oh, what do you think about for you? It might be investing or something, when you ask the average person about investing, you're probably bored. They just haven't thought as deeply about it. I think that that is a really good way to figure out what are the areas in which you're living on Edge City where you quickly are in conversations with people where they're asking you a lot of questions and things about things you know and believe and think about in a given domain but where you find very very few people in your life that you are like wow that was a really interesting insight in this domain that I care about the other thing I think about is I often find that it's a good signal that you are living on the edge of something when you meet someone who is hyper successful or really interesting or somewhat famous and you're not talking about the thing that they're famous for but you end up talking about a thing that you've just gone”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“San Francisco, I spent my time reading health blogs on the internet. I was going to CrossFit at San Francisco CrossFit. I was talking to other athletes and stuff there about what they're doing from a nutrition standpoint, how are they doing recovery? They were talking about gut health in like 2014 and stuff. And it was there at San Francisco CrossFit that one of the people told me about how he was incorporating bone broth into his diet. And so that was a big criteria for me is like 2014 San Francisco CrossFit box is like among the top 0.001% of most forward thinking people in the health arena in around 2014, 2015. For me, that was good validation or a factor I think about of is it likely that I am one of the only people in the world that is exposed to this problem and thinks that this might be an interesting idea or solution to solve it.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Is this something that people care about? And will they actually take out their wallets to pay me if I were to spend my life energy building this product? And that's kind of the approach that I've done from a validation standpoint for all of the brands that I've started. I think a lot about this idea of a Telian-esque secret. And for me, when I was working on just had the idea for kettle and fire, one of the things I like to reflect on is, is there a reason that I would have this idea or I would think this is a good idea where other people would not because they're not as in it. They're not as passionate about it. They don't know as many people. My friend and I have this concept of living in edge city, which is basically like if you're on the edge of a given area like domain, like health or nutrition or exercise or longevity or whatever, it stands to reason that if you live in Edge City, you are probably going to get experience.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I definitely have a process where I test ideas. I wrote a blog post about how I validated my idea for Kettle and Fire. I basically put up a landing page, said we're selling bone broth. It was at an crazy price point where I was like $20 a box, like we can definitely make money doing that. And then I bought a bunch of Google ads, about $1,000 worth, just to see what are our cost per click, what's our cost per acquisition. And when people land on this fake website selling a fake product, do they click buy? And basically the numbers that I was testing on all of that, we had a bunch of people place orders, after which I emailed literally all of them and said, hey, I'm the founder. I'm working on this. What are some characteristics of a bone broth that you're looking for? Like what are the attributes that are important to you? And by the way, this is not going to be ready for six months, which if you want to wait, I'll give you like 50% off your order. If you don't, here's like a full refund. Fine. Thanks for the conversation and like the time. But I basically just wanted to validate.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Get really crazy. But I think basically you look at how I am getting exposed to this stuff and you take steps to remove it. And then on the other side, you look at how do I get this stuff out of my body? And that's generally sauna, sweating, drinking a lot of water that's from a clean source that helps pass and get some of this stuff out. Maybe supplementation, stuff like that.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, right, exactly, exactly. The key things I think to do are look at products that you're using on a daily basis, shampoo, hand soap, lotions, face cream, stuff like this, and try and make sure that there's no PFAS or other sorts of things. Just use clean ingredient skincare, shampoo, soaps, things like that. I would also look at the potspan stuff that you're cooking with in your house, make sure that you're using non-toxic versions, a lot of ceramic or stainless steel are pretty good options, and then spend a lot of time looking at a water filtration, especially if you're in a high toxin residue area, you can look, this is publicly available information. You just look at like the EPA's database and you can see like what's the score, what are some of the things that are present in high concentrations in your water. And if you use reverse osmosis with mineralization or remineralization system, you're probably going to get almost all of these things sort of out of your water. You can set up a whole house filtration system if you want to like.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, totally. I mean, you can look around and you go, like, okay, these things have been in our food and water and whatnot. And like, yeah, health outcomes are really bad. There's also a bunch of people that are seemingly healthy and fine-ish that are probably getting massive amounts of these toxins exposed to them at all times.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, definitely. I mean, I also don't want to overstate the problem. I think that this stuff is really important. I think it's going to become increasingly important and known over the next decade. But the body is also relatively resilient. This is not the type of thing”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“In almost every like soap, shampoo, food packaging, plastic container that you're using, lining of cups that you're drinking coffee out of. There was a study that showed something like 10 trillion microplastic particles were released when you pour like hot coffee or hot tea into one of those paper cups that are aligned with these different plastic liners. So they're really everywhere. And it's incredibly hard to avoid these things.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, exactly. And that's how we regulate. We do a bunch of stuff where it's like, hey, you have to show that this thing is safe before we can use it on our entire population. The US takes the opposite approach. Not only do we say chemical is mostly good, you can use it in small quantities or whatever until we find something is unsafe. But additionally, the way that the EPA and the FDA rely on food and cosmetic and other manufacturers to do this is via self-reported safety studies. And so if you're a company, a cosmetics company, a water company, whatever it is, packaging company, it's basically on you to run a quick, dirty thing to show, oh, this is safe. And then you can put it pretty much in as many products as you want. And so as a result, these chemicals are fucking everywhere. This is why this stuff is so hard to avoid. They're in water. They're probably on the clothing of almost every brand of stuff that you wear, especially a lot of the athletes, unfortunately.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“How hard is this stuff to avoid? Unfortunately, it's incredibly hard. There's no regulatory bodies that really in the US at least take a hard look at this stuff. In Europe, their approach to novel chemicals is basically like, hey, we are going to assume that these novel compounds that you're introducing into our population are potentially concerning until proven otherwise.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Can I actually say one quick thing on water? This stuff is in everyone's waters. There are very few sorts of filters that make good use of this. And I think that if someone were to create a PFAS free or like microplastic free water brand, it would absolutely crush.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Of a grocery store tested for above tap water levels of glyphosate, 100% of cereals have massive amounts of glyphosate around the order of Loading ourselves with these toxins and chemicals that we don't understand the long-term impacts of them. But our early studies point towards really not being good. These things certainly bioaccumulate, meaning it's really hard for the body to get rid of them once they're in. And even scarier to me is we don't understand any interaction effects that are going on between these chemicals. Do you think of you take a drug if you have a pharmaceutical, you take a drug and they're like, oh, are you also on any of these drugs because it causes side effects when mixed with X, Y, or Z? We're basically running that experiment of like, what do all of these toxins and chemicals and things do when interacting with one another? What sort of negative health outcomes do they create when working in conjunction or compounding or anything like that?”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“7,000 times. So 7,000 times. So the US basically says that there's a 700 parts per billion permitted is the permitted level for glyphosate in U.S. tap water. I'm just going to like quickly run through some studies. Different studies run by the detox project, which is an incredible group that's doing glyphosate advocacy work. The detox project found that 0.1 part per billion amounts of glyphosate in the water altered the gene function and created severe organ damage in rats. 0.1 part per billion is also the permitted level for glyphosate in European tap water. 10 parts per billion created toxic effects on the livers of fish. And this stuff is in like 91% of streams. It's almost certainly in almost all the seafood that we eat. And then 700 parts per billion is the permitted level for glyphosate that is in U.S. tap water, where the government goes, yep, that's fine. Beyond that, there was a recent study that showed that 100% of cereals in the center aisle”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Things are for you, and they're everywhere. They're in like almost everything that you put on your skin where they're in all of your water, 93% of streams that's in their drinking water. It's in the water that you're showering with using on a daily basis. And the concerning thing is we talked a little bit about the differences between Europe and the US earlier from a health standpoint. The concerning thing to me is that these substances, PFAS, glyphosate is another one, are really like tolerated in the US in a way that they're not in Europe. And I think that is going to drive a huge, huge number of different health outcomes over the next decade. To give you a sense, there's 28 countries in the world that have banned the use of glyphosate entirely. And the EU has limited the exposure to glyphosate to very minuscule amounts and is banning glyphosate in the next couple years. The acceptable levels of glyphosate in the water in the US guess how”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the things that I think is highly concerning, and that if I had to place a bet, I would place on a health trend that is going to be increasingly important over the next decade. I would place a bet on the fact that environmental toxins like endocrine disrupting chemicals, phthalates, a class of chemicals called PFAS, polyfloral alkyl substances, effectively we are going to find, have huge, huge, huge linkages and are causal to cancer infertility neurological conditions and a bunch of other things that we don't like. And so unfortunately these compounds, you'll see them in the media referred to as forever chemicals. You just can't get rid of them, basically. Quick side note, one of the concerning data points to me is if you look at places where these compounds accumulate in the body, prostate, testes, breasts, stuff like that, they're also body parts that tend to have the highest rates of cancer over the last 20 to 30 years. And so I think that we are just on the precipice of understanding how bad these”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm really excited about the potential for HSA and FSA accounts in general. The IRS is starting next year going to be increasing the size of these HSA and FSA accounts by about 30% because they recognize too that paying for healthcare has become obscenely expensive. And the IRS says we're trying to make it easy so that people can use these tax-free dollars to buy and keep their health before they lose it.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Tens of millions of Americans have HSA or FSA accounts. There's about $150 billion in HSA and FSA accounts, even though, in my opinion, 91% of HSA accounts of the $100 billion that are in there are just sitting in cash basically unutilized. These things are hugely underutilized accounts. And so there's tens of millions of people using them, $150 billion in these accounts. And one of the aspects that I really like about HSA and FSA is that it is one of the only places, possibly the only place in the entire healthcare system where the consumer who is receiving a service, whether that's healthcare or merchants we've partnered with, where they're actually receiving a service that they pay for money comes out of their HSA, FSA account. They receive the service directly and there's no weird network of like payers and intermediaries, all of this sort of mess that has created the incredible rise in healthcare costs that we've seen over the last 50 years. And so.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. Yeah. Like a firm or Klarna, PayPal. Right now, if you go on kettleandfire.com, you'll see the ability to check out using Trumed. And basically use your HSA and FSA funds to pay for bone broth, which is highly nutritious. High in protein has a bunch of amino acids that the average person needs, assuming you qualify for a letter of medical necessity. So it's very much like a firm. Like you go to the website, answer a couple questions about your health issues, history concerns, family history, and the like, then you basically complete the checkout and you'll receive or not a letter of medical necessity via email in the next couple of days. And Truman basically helps you submit that receipt and that purchase for reimbursement to your HSA or FSA administrator.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“The way that we're going to market is very naturally for me as someone who started a couple consumer health brands. We're basically partnering with brands that are selling health and wellness products and giving them the ability to offer their customers a way to use HSA FSA funds to buy whatever they're selling.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“Facilitating the ease of payment, the ability for a medical practitioner to write what's called a letter of medical necessity, which may sound trivial. It's not. 80% of medical schools in the country have zero nutrition classes. Even though nutrition is the thing underlying, eight of the 10 most common killers of Americans today. And so we've sort of assembled a team and a group of functional medicine and other practitioners that understand food is medicine, lifestyle as medicine, and can look at and decide to issue a letter of medical necessity that allows some of our customers to buy food supplements, exercise equipment, the like using tax-free HSA and FSA funds.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“We basically think if you look at thousands and thousands of studies that point towards lifestyle interventions, sleeping better, supplementing with X, eating a Whole Foods diet, cutting out processed food, exercising for 150 minutes a week, all of these things work better to treat the chronic conditions that are crippling Americans than almost any pharmaceutical that is on the market today. And therefore, people should be able to use their tax free HSA and FSA funds on this class of lifestyle treatments.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“So, the HSA and FSA are IRS created accounts, they're tax advantaged accounts that the IRS regulates. What the IRS says is that at the discretion of a medical practitioner, you answer a couple questions or tell us what's your family history, what are the risk factors, how are you feeling, whatever it is. And a medical practitioner can look at how you answer those questions, your risk factors, your family history of disease, all these sorts of things, and decide to write what's called a letter of medical necessity that enables you to fully compliantly spend your HSAFSA tax-free dollars on a food supplement, fitness, wellness, sleep product that is going to help treat or alleviate one of the conditions that you struggle with. So I'm going to give you a sense to standard of care today is if you walk into a doctor's office and say, I have a family history of high cholesterol or even just I'm worried about my cholesterol, they don't have to take any tests. They don't have to do any measurement.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“To spend tax-free HSA and FSA funds on things that keep them healthy, things that treat or alleviate specific disease conditions, which almost everyone has right now, whether that's metabolic dysfunction, not sleeping properly, eating a bad diet, lacking certain nutrients, not getting exercise, whatever. And so as a consumer today, walking the aisles of a grocery store, when you go to buy kettle and fire bone broth versus an off-the-shelf kind of store brand, you're going to pay a premium to buy kettle and fire. It's hard and it's expensive to be healthy. And so we started TrueMed to make it slightly easier, slightly more affordable for the average person to invest in their health by using tax-free HSA and FSA funds to buy things like bone broth, healthy food products, supplements, ate sleep, peloton, all of these sorts of things. And so that's what I'm working on now.”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source
“What I'm doing now, so I started these food companies, started kettle and fire, which is a bone broth company, perfect keto, which is food and supplements for people on a keto diet, and then a non-alcoholic wine brand called Shirley. And all of these were in the realm of how do we make people healthier from a food and sort of consumer product standpoint. What I'm working on now is trying to level up and look at the system a little more holistically and try and fix the incentives that are endemic in the system and fix these incentives that are making everyone fat sick, infertile, depressed, unhappy, all these things. What we're doing now is basically started a company called TrueMed. At TrueMed, we sort of believe that food is medicine, lifestyle is medicine, sleep is medicine, exercise medicine, like all of these things, there's this idea of if exercise was a pill, everyone would get prescribed it. What we're doing is we're trying to create a financial product or financial tool that allows people”
2023-06-20 · Invest Like the Best · Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333] · IDENTIFIED FROM THE TRANSCRIPT · source