I often refer to myself half-jokingly as a Master of the Obvious. I say *half* jokingly because I do believe there’s value in curation, the ability to separate the wheat from the chaff.
Time will tell if I have that skill in angel investing, but I occasionally stumble into a startup whose idea is obviously the way of the future (whether the company can execute is another matter). Nines is such a company 👇
Nines does cloud-based radiology. It may not sound sexy but it’s a complete no-brainer business. The number of medical scans being captured is growing much faster than the number of working radiologists, so technology is the *only* way to close the gap.
Nines is much more than just "tele-medicine". The company augments human radiologists with AI. AI-augmented radiology is unquestionably better than human-only radiology in every way: Better, faster, cheaper, more scalable.
This is one of those businesses where scale begets scale. The more scan data that Nines can aggregate, the better the AI, the better the economics, the more distribution, and so on. It's a big enough market for several winners but the #1 player will win BIG.
One of my friends happens to be a med school student and has chosen radiology as her specialty. When I told her about Nines she got so excited that she contacted the CEO (who took a meeting 🙌).
The next generation of docs *wants* to work at the intersection of medicine and tech and is happy to collaborate with AI, so expect many more companies like Nines across all disciplines of medicine.
This is my second Sunday Startup Snapshot. If you enjoy these let me know and I'll keep going.
[DISCLAIMER: These snapshots are based solely on publicly available information and I may be an investor in some of the companies I profile.]
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🤔 “There is no secret to success - there are only strategies.” @drgurner
In my recent thread on home ownership I mentioned the importance of living in a “City on the Rise”. I believe it’s a critical first step toward prosperity for people of all ages.
Here's why 👇
I’ll start with a simple analogy. If you’ve ever been a runner or cyclist then you know that headwinds are the bane of your existence. Even a light headwind makes everything feel so much harder. It’s physically exhausting and mentally demoralizing.
But with a tailwind at your back, everything changes. Progress feels effortless. Your spirits are lifted. You feel like an Olympian!
Locating in a City on the Rise (COTR) is like choosing to live with a tailwind behind you. Everything is easier & there’s a compounding effect.
Home ownership may be the single most misunderstood topic in personal finance.
👉Fact: Owning your home is the single best investment you can make. Nothing else comes close. Let’s follow J’s advice and look at the numbers.👇
I’ve seen many articles and posts suggesting that renting is better than owning, that an index fund or 401k is a better investment, or even that mortgages are a “toxic product”. All dead wrong.
By the numbers, home ownership is the single largest source of wealth in America...
Americans have nearly $20 trillion in home equity and for millions of Americans the home is the sole source of wealth, because – often without knowing it - they made a smart levered investment and sat on it for a long time instead of paying someone else's mortgage (a.k.a. rent).
👉Thread: Why I’m obsessed with disrupting banking.
Starting from the top...
1/ Banking is a government sanctioned oligopoly. Just 4 banks represent *half* of the US banking market, holding about $8 trillion in assets. A huge regulatory moat limits competition.
2/ As a result banking is obscenely profitable. Most banks - and especially the big 4 - have bloated cost structures yet consistently deliver 20-25% net margins.
3/ High margins & regulatory moats breed complacency. Your grandfather’s banking experience in 1960 wasn’t fundamentally different from yours today, except you’ve got an app. The underlying products and fee structures are mostly the same.