#181 CEO Transcarent, Glen Tullman: Problem Solving
Mar 11, 2024
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On this podcast, CEO Glen Tullman shares insights on hiring low and firing high, failures of leadership, changing expectations, and radical honesty. He discusses his competitive childhood, charitable efforts, and maximizing efficiency through physical activity and time management. The conversation also covers transformative mergers in healthcare, philanthropic endeavors, and the significance of grit in business.
Hire low, fire high - prioritizing value over finances in hiring and gracefully handling employee departures.
Focus on future impact - emphasizing the importance of continuous learning and looking ahead for personal and professional growth.
Balancing work and personal life - highlighting the significance of prioritizing family, time management, and community involvement for effective leadership.
Deep dives
Challenging the Healthcare System
Addressing the challenges in healthcare delivery efficiency and equity is a significant goal, driven by the belief that it is both morally right and an exciting challenge. Despite the U.S. being wealthy, healthcare access remains an issue. The speaker sees the importance of using opportunities to make a difference in healthcare and enjoys the process of effecting change.
Diverse Business Ventures
The speaker's involvement spans various ventures from operating at Kleiner Perkins to ventures in digital health startups, technology investments, and a concentration on the Indian market. The podcast highlights the speaker's activities, from developing startups to managing a family foundation that donates generously, showcasing a diverse professional portfolio.
Lessons from Lavongo Merger
Reflecting on a previous merger experience, the podcast delves into the Lavongo acquisition complexities. Initially planned as a merger, discrepancies arose when the resultant leadership veered off the intended course. Despite challenges, the focus was not on financial gains but on impacting a million lives positively through innovative healthcare solutions.
Forward-Looking Mindset
Embracing a forward-thinking outlook, the speaker emphasizes the need to focus on future endeavors rather than basking in past achievements. Drawing from advice received, the importance of continuously learning, evolving, and looking ahead to future opportunities is highlighted as vital for personal and professional growth.
Personal and Family Background
Growing up in an achievement-oriented family, the speaker shared experiences of high expectations and success. With siblings involved in diverse paths, from entrepreneurship to glassblowing and neuroscience, family achievements were varied. Highlighting the importance of a strong partner at home, the speaker discussed their divorce and the impact on family dynamics. Emphasizing the significance of values and prioritizing family over work, the speaker underscored the value of work-life prioritization.
Leadership and Work Ethics
The conversation delved into leadership qualities and the toll it can take, including sacrifices in personal life. Stressing the importance of grit in overcoming challenges, the speaker reflected on successful individuals needing resilience and supportive partners. The theme of time management and trade-offs emerged, with an example about trading money for time in business decisions. Balance between work, personal life, and community involvement was highlighted as crucial for effective leadership and impact.
Before he was CEO of Transcarent, Glen Tullman presided over the biggest digital health merger of all time: His previous company Livongo was acquired in 2020 by Teledoc for $18.5 billion. Over his decades of experience in health tech, he has developed saying: Hire low, fire high. When one of his friends was offered a job and said he wanted to consider another offer, Glen withdrew Transcarent’s offer because he didn’t want to be the highest bidder — in other words, hire low. But whenever he has to let someone go, he sees it as his responsibility to “help them go off and do something else that’s great, and be successful.” Firing and replacing executives, he said, is “just part of growing ... it doesn’t have to be ugly.”
In this episode, Glen and Joubin discuss conservative values, John Doerr, Teledoc, failures of leadership, Steve Case, Bill Gates, changing expectations, Travis Kalanick, incentive bonuses, Bucknell University, massive layoffs, criticizing in public, anonymous charity, cycling events, Michael Jordan, Bill McDermott, Barack Obama, private jets, and hiring without titles.
