Invest Like The Best
Episode 392 Small Ideas Attract Competition
Invest Like The Best

Episode 392: Small Ideas Attract Competition

Invest Like The Best

Episode 392

Small Ideas Attract Competition

Kareem Zaki is a General Partner at Thrive Capital. We cover why being a generalist allows for more creative investment ideas, how Thrive spotted "category-defining" companies like SpaceX and OpenAI early, and how to solve some of the biggest problems in the healthcare industry.

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Show Notes:

(00:00:00) Welcome to Invest Like the Best

(00:06:02) Early Days and Consistent Strategy

(00:07:10) Personal Journey and Reconnecting with Josh

(00:08:36) Investing Philosophy and Strategy

(00:11:04) Building a Supportive Structure

(00:12:10) Generalist Approach and Market Trends

(00:13:45) Life Cycle Investing and Concentration

(00:16:16) The Builders Mentality

(00:17:52) Raising a Huge Fund and Its Implications

(00:20:40) Understanding Category Defining Companies

(00:37:48) The Changing Nature of Investment Categories

(00:49:03) Evaluating Business Durability and Market Quality

(00:51:30) Understanding Healthcare Challenges

(00:53:46) Approaching Healthcare Innovation

(00:59:18) The Role of Competition in Healthcare

(01:04:17) AI's Transformative Potential

(01:07:35) Advice for Aspiring Entrepreneurs

(01:09:46) Thrive's Investment Philosophy

(01:22:55) The Kindest Thing Anyone Has Ever Done For Kareem

Small Ideas Attract Competition

Introduction

Patrick
My guest today is Kareem Zaki. Kareem is a general partner at Thrive Capital and has been at the firm for a decade. In an episode last year, Thrive's founder, Josh Kushner, told me that he thinks Kareem is the best healthcare investor in the world. Kareem has co-founded three healthcare businesses worth over $1 billion.

He also has expertise in financial services, where he's led the firm's investments in companies like Ramp and Robinhood. It's a timely moment to have this discussion, with Thrive announcing a new $5 billion fund in August. We talk about how Thrive identifies category-defining companies, what concentration means to them, and how startups should approach the healthcare industry. Please enjoy this great discussion with Kareem Zaki.

Kareem's Investing Journey

Patrick
So I have heard this story a couple times from you—not on the record—from Josh, obviously, and from others here at Thrive—Miles included. Maybe you could just give your long version. Feel free to meander a little bit in your answer here—your version of Thrive's story as a business, and I'd love for you to bake your own motivation and experience in here about, as Thrive has grown, the parts of it that you're most proud of and enjoy the most, because obviously you've been a key part of building it.

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