The Next Unicorns: Alto Pharmacy CEO & Co-founder Mattieu Gamache-Asselin is working to fix the broken US pharmacy system by removing friction & aligning incentives among patients, doctors & insurers, shares insights on trading short-term profits for long-term success, combating the opioid crisis, early days meeting Justin Kan, & innovating in a difficult market – E4 of 10-ep miniseries

0:51 Jason intros Mattieu Gamache-Asselin
2:52 Changing from ScriptDash to Alto Pharmacy
4:19 Meeting and working with Twitch founder Justin Kan in the early days of Alto
6:51 Message to HBO’s Silicon Valley writing room
7:26 Working out of Justin Kan’s house
8:15 Why are pharmacies broken? How is Alto fixing them?
14:25 How did Alto’s team architect a 1.0 version of their pharmacy?
21:44 US Healthcare is broken due to bad incentive structures
28:23 Does Alto compare to Hims and Roman?
32:24 What are Alto’s profit margins?
35:00 This Week in Cinema: It’s a Wonderful Life
39:07 Maintaining balance between being scrappy/aggressive while also abiding by all medical regulations
39:54 How has Alto scaled so far?
45:55 Who is responsible for the opioid crisis?
51:24 What is Alto building to combat the crisis?
53:27 Trading short-term gain for long-term gain
56:56 How Alto was initially received among investors
1:01:03 This Week in Cinema: The Mission
1:04:30 What skill does Matt think many founders lack?
1:07:02 Operational excellence in former Amazon executives
1:13:49 #1 Lesson that Matt has learned since becoming a founder

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How many investments should you hold in early-stage / startup companies? and how can you easily, passively diversify your portfolio?

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They say diversification is the only free lunch in finance but diversification is difficult. Why? because you need to know your sector as well as diversify your portfolio and these are two competing requirements. So what level of diversification is needed? How many investments need to be made?

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Bryan Underwood is the founding Principal of Responsible Residential (“ RR”) and President of Responsible Real Estate, Inc. (“ RRE” ), a San Diego based real estate investment company. Mr. Underwood started RR & RRE after spending more than ten years in his family business, A-l Self Storage/Caster Properties, Inc. Responsible Residential is a San Diego based residential development company focused on middle income housing. Prior to launching RR & RRE, Mr. Underwood worked as the Acquisitions Manager for Caster Properties, Inc./ A- 1 Self Storage. Since joining Caster Properties in 2007, Mr. Underwood has played a key role in the acquisition and entitlement of over 1.5MM square feet of Self Storage space with a market value of $200MM. His primary responsibility was to achieve the Caster family’s investment goals. To do this, he led the acquisition team in their efforts to uncover new Self Storage opportunities and negotiate transactions. He worked closely with the construction and development department for initial project cost estimating, site planning, and entitlements. He was the lead underwriter for each project and facilitated escrows and the completion of all due diligence items.

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We also examine how a potential shift in the gig economy could affect Uber, Lyft, and DoorDash.

In today’s episode, Ali Mogharabi, a senior equity analyst for Morningstar Research Services, explains the Labor Department’s proposed rule about worker classification. And he reveals whether he thinks Uber, Lyft, and DoorDash stocks are a buy.

Investing Insights is bringing you a mix of market news, insights from analysts, and personal finance tips.

0:00 Introduction
0:38 Stocks for a recession
1:44 Wells Fargo missed the mark for third quarter earnings.
2:29 Delta airlines reported a strong third quarter.
3:51 Should gig workers be considered employees?
5:42 What is the main risk of the Biden administration’s new proposal?
8:31 What is the reaction from Uber, Lyft, and DoorDash?
9:17 What does Uber, Lyft, and DoorDash stocks look like today?
10:17 How to Make Your Cash Work Harder as Interest Rates Rise

Read about topics from this episode.

10 Stocks for a Recession https://www.morningstar.com/articles/1106498

Risk of DOL’s Proposal and Reactions of Uber, Lyft, and DoorDash Stocks Exaggerated https://www.morningstar.com/articles/1117314

Opportunities Seen in the Industrial Sector Amid Economic Headwinds https://www.morningstar.com/articles/1117232

Looking Past Volatile Operating Losses, Wells Fargo Remains on Track in Q3 https://www.morningstar.com/articles/1117661

Best Financial-Services Companies to Own: 2022 Edition https://www.morningstar.com/articles/1076464

3 Recession-Resistant Stocks https://www.morningstar.com/articles/1116934

What Is a Recession? https://www.morningstar.com/articles/1105761

What to watch from Morningstar.

Markets are Undervalued, and We Highlight Some Cheap Stocks! https://youtu.be/J2VjiR8nKLc

We Examine Tesla’s Stock and the Risks of a Strong Dollar https://youtu.be/8mZ97cWq7D8

When’s the Best Time for a Roth IRA Conversion? https://youtu.be/uzFvCYuaJMI

Will Investors Ready, Set, Go for the Porsche IPO? https://youtu.be/MYm6W7FFHcw

Read what our team is writing:

Susan Dziubinski https://www.morningstar.com/authors/12/susan-dziubinski

Christine Benz https://www.morningstar.com/authors/30/christine-benz

Ali Mogharabi https://www.morningstar.com/authors/2027/ali-mogharabi

Ivanna Hampton https://www.morningstar.com/authors/2399/ivanna-hampton

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