“You have to burn down the boats” – an interview with Virta and Trulia founder, Sami Inkinen
Oct 1, 2020
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Sami Inkinen, founder of Virta and Trulia, shares his remarkable boat journey from California to Hawaii and discusses his experience in starting successful companies. Topics include rowing across the Pacific, his background growing up on a farm in Finland, reversing late-stage type two diabetes, advice for tech entrepreneurs in the healthcare space, and the urgency of finding solutions for diabetes and chronic diseases.
Verda aims to reverse type 2 diabetes through personalized therapy and continuous monitoring of biomarkers, treating the whole patient and adapting recommendations based on their unique circumstances.
Entrepreneurs entering the healthcare space must understand the fragmented nature of the industry, with its nuances and challenges, and carefully consider the background and expertise of their investors, board members, and advisors to ensure successful collaboration.
Deep dives
Passion for Healthcare and Resolving Chronic Diseases
Verda, a tech-enabled service, aims to reverse type 2 diabetes and provide virtual continuous care. The founder fell in love with the idea of addressing one of the biggest epidemics in the world. By delivering personalized therapy and continuous monitoring of biomarkers, Verda helps patients achieve non-diabetic status. The company treats the whole patient, considering comorbidities and social determinants of health. They aim to meet patients where they are, adapting recommendations based on their unique circumstances.
The Complexity of the Healthcare Landscape
Entrepreneurs entering the healthcare space must recognize that despite the large market size, it consists of thousands of smaller segments, each with its own nuances and challenges. Whether working with insurance companies or direct-to-consumer models, understanding the fragmented nature of the healthcare industry is crucial. Attention to detail and appreciation for the specific needs and dynamics of different demographics will help entrepreneurs navigate this complex landscape.
Importance of Understanding Healthcare Nuances for Investors
When seeking investment in healthcare, entrepreneurs must carefully consider the background and expertise of their investors, board members, and advisors. While it may be enticing to attract tech investors due to the perceived financial potential of the healthcare sector, it is essential to ensure that the stakeholders truly understand the intricacies and complexities of the healthcare space. Alignment in understanding healthcare nuances is critical for successful collaboration and long-term partnerships.
The Urgent Need to Address Diabetes
With over a thousand people dying from diabetes every day in the US and the cost of diabetes reaching $404 billion annually, there is a pressing need to tackle this chronic disease. The food and pharmaceutical industries are major players affecting diabetes outcomes, but entrepreneurs like Verda are passionately dedicated to reversing the disease. By battling these entrenched industries, Verda focuses on individual patient impact, working towards making diabetes solutions accessible to all.