YouSaid · the spoken record

Reed Jobs

lines on the record: 65
first: 2024-03-07
most recent: 2024-03-07
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

“Of the areas we're really excited about are the next generation of immunotherapy. It's been like quite a bit to software, which is not a perfect but not a terrible comparison. So right now today, the notion of leveraging your body's immune system to attack cancer specifically has been a really like attractive idea for scientists for years.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“My whole family always each generation will start our own company so at a certain level, it was a very natural, organic thing for us to transition over. Now, the relation with Emerson is still very close, but it's more of a GPLP one. They're amazing. They give us amazing support. We are extremely close, of course, on a personal level. alongside our other LPs on our LPAC, and it's been a clean break.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. So, more often than not, if they're able to join, they're a great chief medical officer, chief scientific officer. They're on the scientific advisory board kind of pushing that forward. But the management is very, very different and disaggregated from the scientific work. So it's just a different model that we're dealing with. instantiated at Emerson. We worked there for years and we honed this model quite well. We then frankly saw the pace of companies coming out of our academic portfolio really growing at a pace that we needed to bring external funding on to sort of match. I'll also just be honest with you, Kara. I wanted my own firm.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“Know in tech, you've got the stereotypical founder, CEO who's crusading to move mountains. My dad was a lot like this. And if you look at most top CEOs in the valley right now, they're founder CEOs. Unfortunately, it's different in the life sciences because your founders are academics who usually have tenure and rarely want to leave their academic posts. They're more than happy to take a project so far and then hand it off to other people. Moreover, if they are going to join, you actually don't usually want them to be the CEO because they're the very best at a super specific part of science, whether that's gene editing or immunotherapy. And why would you want to burden them with the administrative and fundraising needs of a CEO?”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“We actually have done them both simultaneously. So the thing that we do a bit differently is some funds have a philanthropic component, but it's usually associated with the carry where they'll take some of the money that they make and then put it earmarket for a nonprofit, which is great. But from our perspective, we need to actually be using this to seed research quite early on that ideally we can actually translate in the lifetime of the funds. We're doing this both at the same time, both at the beginning. Now, this is quite unusual for a lot of other firms. One of the main reasons why this works really well in the life sciences is”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“Although, when they succeed, it's enormous, but there's a lot of sunk costs to be recouped as part of this whole ecosystem. And very few private companies are able to really assume that kind of risk. So by playing in the biotech space, what we're really able to do is identify the best areas in academic labs, partner with the academics, and build the absolute best cleanest, sharpest companies we possibly can to get early clinical data to either then become companies in their own right that are going to go through clinical trials or partner with pharmaceuticals to do that themselves. So we just care about getting things to people as quickly as possible. And this was the most efficient way to do so.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“I like the opposite. I like people who are really going for it. So by using philanthropy to actually de-risk a lot of these early stage scientific assets, we were then right there when they wanted to take the next step into starting a company. And to get to people, the way the ecosystem works, it really goes through academic labs, to biotech companies, to pharmaceutical companies. Most of that's just driven by how risky this all is by the In very, very high, insanely high capital constraints. You know, a phase three clinical trial costs a billion dollars, and only one out of three is going to succeed. Very few people can underwrite that.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“I quickly decided that I care about changing things for people. And we view universities as the wellsprings of all new innovation for healthcare. It's a very, very different ecosystem than it is in tech. And we can talk more about that later. But by partnering with super early stage researchers, we were able to see what are their most ambitious ideas. We were able to leverage a lot of blind spots that other funders have. For instance, surprisingly, a lot of people's most ambitious ideas, they're not able to get funded because people want to see more incremental progress as opposed to swinging for the fences.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“I became quite displeased with this because it was all a black box. You would give money away to a researcher, which is a lotable and positive thing. And maybe they'd give you like an email back a year later saying what happened. But it was completely unconnected to a new therapy. It was even further away from patients. So while I was at Emerson,”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“Absolutely. So, Emerson is, my family's family office. It's located here in Northern California. The structure of it is that of an LLC. It's not a foundation. Many family offices take the form of a foundation, which is wonderful. With our structure, we're able to do a lot more foreign nonprofit investing very seamlessly. In subsequent large family offices have followed a similar path. Chan Zuckerberg, for instance, has the same structure. What this meant for me and the health team, and it was, by the way, marvelous to start this with her, you know, my entire family cares about cancer as much as I do. So, you know, the alignment there has always been incredibly strong. We began doing grants actually to a bunch of researchers in the cancer space, mostly starting here at Stanford just because it was right next door”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“No, I think Cure is a very hopeful mindspace to be. I think it's very accurate in some cases. It's just not going to be for every single case. And for folks like me, we really just want to view what is going to be the most tractable thing scientifically and how do we get those things to the clinic. So we do things that aren't necessarily just therapeutics. We also do quite a lot of digital health work and quite a lot of diagnostic work. Those are indirect ways to eliminate mortality, but it's still really, really important areas for us to focus in.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“Both to the mutation specifically, but in our view, much more actually about harnessing your own body's natural anti-cancer powers against it. And that's really the basis of immunotherapy.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“More than anything, it's a little like cardiovascular disease. So, if you think about cardiovascular disease 50 years ago, it was an end stage disease. You went to the hospital because you were having a stroke or a heart attack. It was at the very, very final stages of that disease manifestation. And the results showed that. It was horrible mortality. Today, it's a disease of monitoring early intervention and targeted therapy. You know, you can monitor things like your genetic risk factors, your cholesterol. You can take interventions like statins or you could have a valve replaced or a ton of other different things. And you monitor this with good diagnostics, whether that's a calcium score or just a blood test throughout your entire life. It's really an area under the curve disease. You want to like eliminate the amount of time you have at risk. In some ways, cancer is going to be very similar in that you're going to see cancer probably arising quite a lot earlier in 10 years than you do today. And the therapies are going to have for it are going to be significantly more targeted.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
“A lot of people have used the word cure and abused it a lot in the oncology space. So our first reaction was we have to be honest about where we view the science to be. And to have human cells, you always are going to have the risk of some mutation happening, a bad cell division, and cancer arising. In fact, all of us have pre-cancer in us right now. Now it's almost always taken up by our immune system or your cells are able to move against it and protect themselves. But that risk is not going away. So instead of thinking about this like, you know, an infectious disease that you could vaccinate and then your immune system is primed and you're going to be immune to it, with cancer, a more realistic pathway is to figure out how you're going to eliminate mortality systematically across many different types of early and later stage cancers. That's going to likely in RV be a combination of next generation early detection.”
2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT
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2024-03-07 · On with Kara Swisher · Why Reed Jobs is Betting on Cancer Innovations · IDENTIFIED FROM THE TRANSCRIPT