Investing in product-obsessed founders building world historic companies.
California, USA
Joined October 2016
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Finally upgrading from group chat to cap table. Let's go @kevinweil
Chapter One retweeted
My conversation with Zach Reitano (@ZReitano), co-founder and CEO of Ro
In four years he took Ro from a $250M run rate to over $3B, with about a third fewer people
Zach rarely does long conversations like this, so it was fun to talk about the details of what that took and everything happening in healthcare
Plus, his answer to the closing question is amazing
We discuss:
- the state of the US healthcare system
- refounding Ro
- strong attract, strong repel culture
- the notion of jobs over lives
- the power of celebrities in marketing
- the importance of tailwinds (AI, GLP-1s)
- trying to recreate his dad in software
Enjoy!
TIMESTAMPS
0:34 How Much Should We Spend on Health
4:59 The Patient Is Not the Customer
10:24 Inside Ro's Business
18:28 The Future of GLP-1s
25:46 Jobs Over Lives
30:02 The Turnaround
47:43 Where Healthcare Goes Next
1:00:27 Recreating His Dad in Software
1:06:33 Marketing Into Stigma
1:19:06 Zach's Hottest Take
1:20:58 The Kindest Thing
Chapter One retweeted
We built a Chapter One scrapbook to keep our memories as a firm.
Palmer picking up Erebor's bank charter at the NYSE. Playing with lasers at Bohr Systems. Duckweed becoming ethanol in a parking lot.
Thank you to everyone who's been part of it.
Chapter One retweeted
Opportunity of a lifetime:
Join @ether_fi as our ether.fi for Business CEO.
You will have your own team, control the product, the go-to-market, and it will be your job to make this into a billion dollar business unit.
We're looking for someone with founder chops, or a would-be founder with a technical/PM background. You will have the opportunity to have a large founder-sized pay-day if you succeed.
If you're interested please dm me. If you refer someone who we hire we'll pay you a $10k referral reward.
ether.fi/business
Chapter One retweeted
Love this from @jmj. Some of the most low-hanging fruit is at the intersection of multiple fields, because people tend to go deep rather than broad. Both are important!
I also like his analogy of "rock band" teams as the way to attack problems like ours at @warpsciences.
newinternet.tech/p/investing…
Chapter One retweeted
Sharp read from @jmj. Some of the hardest national security problems sit where fields meet, and the working dog and handler team is one of them. Grateful to have Chapter One building with us, and love the poster, Jeff. Back to work. 🇺🇸
I wrote an essay on a thesis we’ve been developing called Intersections.
Venture has always invested at the edges of a field. The edges have started touching, and the most interesting companies now sit where two or three of them meet.
newinternet.tech/p/investing…
Chapter One retweeted
I wrote an essay on a thesis we’ve been developing called Intersections.
Venture has always invested at the edges of a field. The edges have started touching, and the most interesting companies now sit where two or three of them meet.
newinternet.tech/p/investing…
Chapter One retweeted
Thrilled to share that @HaillieLower officially joined Chapter One this week after years as a Materials Engineer at @SpaceX.
Her first day might have been the most fun onboarding we've ever done. We spent it in El Segundo and Hawthorne with so many of our favorite founders and friends.
@rsgharat, @tfeldmann, @jared_western 🇺🇸
Chapter One retweeted
Q3 was Flex’s strongest quarter yet as we build the global financial home for HNW business owners.
A few highlights:
- Revenue grew 2.5x YoY at scale
- $20B+ annualized TPV
- Revenue outside business cards grew 7x YoY
- Accounts Payable now accounts for ~39% of revenue
- Texas and Florida are our largest markets, with customers across construction, wholesale, healthcare, ecommerce brands, local government, and more
- 98% gross logo retention
- Global banking now represents 12% of revenue, up from just 0.4% at the start of the year, fueled by spend management, stablecoin, and multi-currency accounts
- Canada is our largest market outside the US, followed by the UAE
- Cross-border payments revenue grew 5.5x YoY
On the consumer side, thousands of HNW individuals have joined the waitlist for Flex Elite, our new personal credit card offering up to 5% cashback on everything.
We're onboarding members in phases. DM us for priority.
Our ambition is simple: build the full financial home for founders, across both their businesses and personal lives. And every quarter reminds me of how underserved traditional businesses are globally.
I joined Gstaad Guy's podcast to share what we've been up to. Watch below.
Chapter One retweeted
“We engineer biology the way we engineer code”
Couldn’t be more aligned, huge congrats @jmj & the whole @chapterone team!!
Chapter One retweeted
Today, we're announcing Fund III.
This is such a special moment in technology - and I couldn't be more excited about what we're building at @chapterone. Grateful to all our partners.
To the founders shaping the future, we're ready 🚀
@jmj
@TheFundCFO
@HaillieLower
@karolina_dubiel
Chapter One retweeted
Seven years ago Chapter One was a blank page and a small first fund. Today we’re announcing Fund III.
We name every fund like a book. This one is a question. What if it all works?
Chapter One retweeted
My first Warhound interview 🐕
Warhound
30 Days of Hard Tech: Day 15 🐕
Jeff Morris (GP at Chapter One):
"If you follow Colossal and Anduril, imagine a company that's like a baby of both companies, the companies coming together to build an amazing new product."
"Working dogs are, like, the 0.001%, almost like the LeBron James of working dogs. And you want the LeBrons to be on the battlefield."
"The biggest mistake that investors make at the early stages is taking the initial idea too literally. Like, you know, at face value, not imagining the world that the best founders can build. We think about founders really being world builders."
Chapter One retweeted
Adding more GPUs is only part of the answer. The bigger opportunity is making the compute we already have easier to use, orchestrate, and trade.
Thanks @Geoff_Weiss and @BusinessInsider for the conversation.
Thanks @BusinessInsider and @Geoff_Weiss for covering our $30M Series A1 led by @walden_catalyst.
GPU capacity is fragmented across hundreds of providers. @zjasper on how we're making compute easier to use and easier to trade.
Chapter One retweeted
Grateful to @MorganBarrettX for the feature, and to @jmj and @chapterone for believing early. The best working dogs are rare, and our warfighters deserve more of them. Credit to @BenLamm and @colossal for the science. 🇺🇸🐾 xitter.twitterapi.xyz/MorganBarrettX/status/…
Warhound
30 Days of Hard Tech: Day 15 🐕
Jeff Morris (GP at Chapter One):
"If you follow Colossal and Anduril, imagine a company that's like a baby of both companies, the companies coming together to build an amazing new product."
"Working dogs are, like, the 0.001%, almost like the LeBron James of working dogs. And you want the LeBrons to be on the battlefield."
"The biggest mistake that investors make at the early stages is taking the initial idea too literally. Like, you know, at face value, not imagining the world that the best founders can build. We think about founders really being world builders."
Chapter One retweeted
Warhound
30 Days of Hard Tech: Day 15 🐕
Jeff Morris (GP at Chapter One):
"If you follow Colossal and Anduril, imagine a company that's like a baby of both companies, the companies coming together to build an amazing new product."
"Working dogs are, like, the 0.001%, almost like the LeBron James of working dogs. And you want the LeBrons to be on the battlefield."
"The biggest mistake that investors make at the early stages is taking the initial idea too literally. Like, you know, at face value, not imagining the world that the best founders can build. We think about founders really being world builders."
Chapter One retweeted
Sometimes I see other firms' portfolios and get fomo.
This is a small set of the investments we've done at @chapterone this year.
At some point soon, it will become clear.
Chapter One retweeted
Once upon a time, Los Angeles was a farm town. Then it was Hollywood. Now it’s the hard tech capital of the United States.
I wrote a novella about how El Segundo & Southern California got here & the future legends building here.
Sequel in a few years. substack.com/home/post/p-196…
Chapter One retweeted
A really great perspective from a journalist who was actually part of the working dog program on various problems that have existed for decades and how WARHOUND can help solve these problems while also helping the animal health aspects of the programs while ensuring less dogs washout.
As someone who spent nearly a decade training and handling police K9s, I can tell you that most people criticizing the idea of bioengineering police and military working dogs have no clue what they're talking about.
I do. And here's why I think it's a great idea. 👇 @BenLamm @PalmerLuckey
thedebrief.org/i-spent-over-…
