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Peter Barrett discussed his career journey, from starting in a technical role at Perkin Elmer to co-founding Celera Genomics and being part of the team that first sequenced the human genome. He then transitioned to venture capital, joining Atlas Venture, where he has focused on building and investing in innovative therapeutic and drug discovery companies. He shared insights on Atlas' approach, including their focus on targeted, therapeutics-only funds, their emphasis on diligence and de-risking early stage science, and their willingness to celebrate failures and redeploy talented founders. He also discussed Atlas' strategy of identifying platform technologies with broad applicability, like the cell therapy platform at Obsidian Therapeutics. He gives tips to founders to celebrate failures to learn from them and the importance of honesty and transparency rather than “faking it ‘til you make it”
02:42 - Peter discusses lessons from his early career at Perkin Elmer and transitioning from a technical to business role
07:57 - Peter talks about co-founding Celera Genomics and the experience of sequencing the human genome
14:41 - Peter describes his transition from Celera to venture capital at Atlas Venture
18:03 - Peter discusses learning about the drug development process and relying on expertise when making investment decisions
21:09 - Peter emphasizes the importance of "celebrating failures" and making informed decisions to avoid wasting time
26:37 - Peter explains Atlas Venture's investment strategy and approach during market downturns
29:30 - Peter discusses identifying platform technologies and de-risking early stage science
41:07 - Peter provides advice for entrepreneurs and reflects on balancing career and personal life
