Welcome to The Kurty D Show, a podcast presenting unique perspectives shaping the world. Each week will showcase conversations and stories of personal fulfillment and overcoming what life throws your way. In this episode, Kurt welcomes to the show healthcare venture capitalist, entrepreneur and bestselling author, Marcus Whitney. Marcus is a partner of Jumpstart Health Investors, the most active venture capital firm in America that’s focused on innovative healthcare companies with a portfolio of over 130 companies. He also recently launched Jumpstart Nova, the first Black healthcare venture fund in America. Marcus is the bestselling author of the book, Create and Orchestrate, about claiming your creative power through entrepreneurship. In this episode, Kurt and Marcus engage in an illuminating discussion about the history of the American healthcare system and why it's broken. Marcus shares his origin story, from dropping out of college, to becoming a full-time coder, to eventually pursuing a career as a venture capitalist. Marcus gets specific and opens up about three incredibly difficult challenges he’s had to overcome throughout his career and how the experience has made him stronger, wiser, and more grateful.
What we covered:
01:40 – Kurt welcomes to the show, Marcus Whitney, who speaks to his background as a venture capitalist at Jumpstart Health Investors, and what inspired him to start Jumpstart Nova
10:57 – From Brooklyn and dropping out of school to Atlanta and getting into coding
16:43 – Marcus’ framework for screening founders
23:21 – Measure twice, cut once: Our broken healthcare system
27:56 – Comparing healthcare and higher education business models
29:19 – Marcus reveals which city is the hub for healthcare corporations in the United States
37:57 – Marcus gets vulnerable and opens up about three major challenges he’s had to overcome throughout his life
44:04 – How Marcus stays grounded and balanced
45:05 – The one band Marcus would go see play live if he could
46:13 – Kurt thanks Marcus for joining the show and lets listeners know where they can connect with him and how they can be of service to Marcus
Episode Sponsor:
Tweetable Quotes:
“The healthcare system that we have today is really a result of Lyndon Johnson – which we all know was a transitional presidency – enhancing the Social Security Act with Medicare and adding onto the New Deal and setting up a business model that was cost-plus, meaning whatever the service cost, the government’s going to pay that cost plus twenty percent. That’s still the system we have today.”
“I’m not trying to have twenty companies where all the founders are carbon copies of each other. I’m looking for authenticity and people who certainly will have the grit, tenacity, and resilience, but also will listen. I want people who are uniquely qualified to solve the problem they’re going after.”
“There’s a reason why healthcare and higher education are the two fastest rising costs from a service perspective in the country. Those are the two things where the inflation has been out of control.”
“I set the expectation with [founders] regularly that I’m going to bring it to you and I’m gonna lean into conflict with you regularly because that’s where the progress is.”
“I started a new fund around this time last year called Jumpstart Nova. And it is a Series A Fund investing in innovative healthcare companies led by Black founders.”
“I can tell you, having been through those heavy things, I’ve never been better in my entire life than right now. I’ve never been better in those three areas. I’ve never been better in business, I’ve never been better in relationships and being sober is awesome.”
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