Noom co-founder Saeju Jeong reflects on his entrepreneurial background in South Korea running the heavy metal music e-commerce business Buyhard Production before relocating to New York.
Insight
Noom co-founder: True empathy cannot be recreated by computers
“Empathy cannot be made up. Empathy cannot be recreated by computer.”
Insight
Jeong: Paywalls filter uncommitted users and yield higher-quality behavioral data
“We had a moment that we need to put the price, price wall. That is the way we can weed out who are not ready to commit for adopting healthy behavior, and that is the way also, as we are a product company, we can actually gather, gather higher quality data in o…”
Assertion Partly supported
Jeong: Noom subscriptions can now be canceled online in three clicks
“So matter of fact, we invested a ton into that the opportunity, and now the 100% self-cancellation is right there. You can, you have three clicks, then you can cancel that.”
Insight
Jeong: Traditional healthcare functions merely as reactive "sick care management"
“He always told patients to make sure that they have a healthy lifestyle. But Like, majority of patients develop the conditions, and he has to do, in other words, sick care management. So, he left a very big question to me that, why? Why are the societies point…”
Insight
Jeong: Strict diets fail after two weeks, triggering yo-yo behaviors
“The thing is, if we limit our users, there's enough study in our own, from our experience, if we limit our users, do this, not that, they may work for maybe two weeks, but it Cannot work more than that, and that create, as we know, and which make me sad, yo-yo…”
Disclosure
Noom precursors faced two years of rejections and dwindled to $2,700
“After two years of straight, like getting a no from all the NJ investors or VCs or even friends, It became clear. And the reality was, Guy, that we didn't have much money left in the bank. I remember we had, like, 2700 dollars”