Everything Brian Lindstrom said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Lindstrom: Enterprise startups outgrow founder-led sales around $8M to $10M revenue
“We say it needs to, these enterprise sales at, when you're selling a 100,000 dollar ACV deals, 250,000 ACV deals, around ten million, maybe eight to ten million, seems to be where it is, but there is definitely some art to picking that up, but the playbook see…”
Lindstrom: Entering digital health requires going through Epic Systems
“Nowadays, if you want to get into digital health, you really need to go to Epic.”
Lindstrom: Epic Systems has roughly 100 internal AI projects currently underway
“We've heard that they have a hundred individual AI projects going on right now. Right. But certain in skunk works in various shape, manner, and forms, and some are public and some are not”
Lindstrom: Startup financial models serve as truth serum on founder thinking
“But when I come in, I look at, I do look at the numbers and I really look at, really what I look at is the three to five year model. And to me, that model is truth serum. Now it doesn't need to be perfect. Most of our founders do not come up from a financial b…”
Lindstrom: 110% NRR and 90% GRR are strong startup retention benchmarks
“So as a benchmark, I think about a 110% net revenue retention, give or take is solid. And I also think about 90% or better gross revenue retention, also solid.”
Lindstrom: Managed services startups must exceed 40% gross margin
“A managed service company better be more than 40% gross margin, right?”
Lindstrom: Standardized pipeline velocity proves product-market fit and proper pricing
“As product market fit happens and they get their sales cadence, those start to standardize more. And the more standardization as I, as the snake or as the mouse moves through the snake, the more standardization that tells me, Hey, they know the product does wh…”
Lindstrom: Past sales success does not predict future performance
“Sales, to me, and I think to a lot of people, it's the hardest role to hire for in an organization, right? Finance is arguably hard. Every role is hard. Sales, prior Experience prior success is not necessarily indicative of future success.”
Lindstrom: Roughly 40% of healthcare investments involve AI
“And it's been arguably a 40% of healthcare investments and startups have AI associated with them.”
Lindstrom: Healthcare founders should avoid competing directly with Epic's AI roadmap
“As a founder, you just need to make sure that you survey the environment. You talk, how healthcare is very insular, but it, but it's very connected. Talk to people about what they're seeing, what they're hearing, what health systems are, what are they adopting…”
HealthX Ventures writes $0.5M-$5M checks out of $100M Fund III
“We had our first fund for about twenty two million and a second fund for about 55. So now fund three is about a hundred million dollar. We invest In seed round, typically, some early A, so we call ourselves seed plus, typically take 10 to 20% of the company's …”
Lindstrom: Startups cannot outsell high churn
“You cannot outsell high churn, right?”
Lindstrom: Selling to health systems requires consensus across multiple executive stakeholders
“Healthcare is extremely difficult to make a sale, and why is that? It's because a lot of people have to say yes to a sale in a health system. Health systems tend to be a hierarchical, a little bureaucratic, and the groups that need to opine typically happen to…”
Lindstrom: Health systems typically operate on 1% to 5% margins
“Health systems, they typically are operating on one to five percent margins.”
HealthX Ventures always leads investment rounds and takes board seats
“Our standard approach, again, we lead, we always take a board seat at HealthX.”
Lindstrom: Bento reached $25M in revenue addressing California food insecurity
“Another one is Bento. As in bento box. They're in California. Basically they're serving or they're solving food insecurity in Southern California. And while now all of the state of California grew 10 X over the last year, be a twenty-five million dollar revenu…”
Lindstrom: Very few HealthX portfolio companies expand internationally
“Healthcare is obviously globally a problem, but the US healthcare system is so specific that very few of our companies cross borders, right?”
Lindstrom: HealthX Ventures evaluates 2,000 startup deals annually
“And we see three deals a day. We see, we do 2000, we see 2000 deals a year.”
Lindstrom: Most HealthX Ventures staff are former Epic Systems operators
“Most of the staff here were operators at Epic.”