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    E360: The Hardest Lessons I Learned from Building 4 Unicorns

    How I Invest with David Weisburd

    David Weisburd

    May 1, 2026

    Show Notes

    What if the biggest breakthroughs in biotech don’t come from more capital—but from building better systems for innovation? In this episode, I sit down with Errik Anderson, biotech entrepreneur and founder behind multiple billion-dollar companies, to discuss how building infrastructure, not just drugs, is reshaping the future of healthcare. Errik explains why most biotech companies fail the same way, how reducing the cost and time of experimentation unlocks more innovation, and why staying private longer enables better long-term decision making. We also explore compounding in biotech, the limits of scaling creativity, and how conviction, mission, and talent ultimately determine which companies change the world.

    Highlights:

    • Why most biotech companies fail the same way
    • How lowering experiment costs increases innovation
    • The difference between building drugs vs building infrastructure
    • Why great companies stay private longer than expected
    • How compounding works in biotech beyond capital
    • Why you can’t scale creativity by adding more money
    • The real bottleneck in drug discovery today
    • Why mission-driven teams outperform over long time horizons

    Guest Bio:

    Errik Anderson is a biotech and technology entrepreneur, investor, and founder of multiple billion-dollar companies, including Alloy Therapeutics. He focuses on building platforms that accelerate drug discovery and innovation across the healthcare ecosystem. In addition to founding and scaling companies, he is an active mentor and investor, driven by a long-term mission to create transformative solutions in health and science for future generations.

    Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com.

    We’d like to thank AlphaSense for sponsoring this episode!

    Sponsor:

    AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

    Stay Connected with David Weisburd:

    X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/

    Stay Connected with Errik Anderson:

    LinkedIn: https://www.linkedin.com/in/errikanderson/

    Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

    Disclaimer:

    This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

    (0:00) How He Built His Fourth Unicorn (And Why This One Is Different) (1:20) The Strategy Behind Building a “Biotech Infrastructure” Giant (3:30) Why You Should Build the Company You’d Never Want to Leave (6:00) The Real Test of Conviction: Would You Ever Sell? ()Why Most Great Companies Should Stay Private Much Longer ()The Hidden Advantage Private Companies Have Over Public Markets ()Why Innovation Can’t Be Scaled Just by Adding Money ()The Brutal Truth: Every Company Fails the Same Way ()Why So Few People Actually Do the Hard Things ()The Counterintuitive Rule: Quantity Creates Quality
    E360: The Hardest Lessons I Learned from Building 4 Unicorns — Podcst