Your Answer to this Question Could be the World’s Next Great Company in Healthcare

Peter Thiel, the controversial cofounder of PayPal, and creator of the Thiel Fellows (twenty students each year are paid to leave college and create startups), created the Founder’s Fund, which has had a string of investment successes including being the first outside investor in FaceBook, along with early-stage investments in LinkedIn, Yammer, Yelp, Practice Fusion, Palantir, Quora and more. Founder’s Fund has grown to manage over $2B in assets and Peter has reached #4 on the Forbes Midas List in 2014 with $2.2B in personal assets.

Some have questioned how Peter chooses companies in which to predict potential future success.

Peter’s advice to entrepreneurs is this. “Tell me something that’s true but nobody agrees with.”

Applying this principle to Peter’s investments – one can begin to see how it can sunshine opportunity that might otherwise be ignored.  

Who would have believed that people would spontaneously give up their privacy and share enough information to make a company like FaceBook possible?

CEO Mark Zuckerberg has even coined the “Law of Social Sharing” which states that the amount of information people are sharing is doubling every two years.

Some have argued that the Law of Social sharing must be preposterous as we would need to share our innermost biology. Yet companies like 23andMe thrive on people sharing their personal genomes with others.

Who would have believed that an electronic medical record given away for free and whose revenue model was ads shown to doctors using it could survive in healthcare?  Yet Practice Fusion has managed to not only managed to survive but thrive gaining awards  from KLAS as the #1 EHR for family practice and from Black Book Rankings as the #1 EHR for customer satisfaction.

Peter presents a challenge to all entrepreneurs in healthcare whose answer could be an opportunity to change healthcare forever.

So what do you know to be true in healthcare today but that few in healthcare agree with? It could be the next great company.

Mike Gillam, MD, FACEP  2015

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