By Guest Author Marylene Delbourg-Delphis
We all know about the natural tendency of systems toward their degradation. It’s called entropy. In her new book, Everybody Wants to Love Their Job: Rebuilding Trust and Culture, Marylene Delbourg-Delphis discusses the various ways organizations can fight that entropy, and instead, generate the negative entropy that Nobel laureate Erwin Schrodinger ended up naming “negentropy.” Thwarting entropy ultimately means breeding creative energy within the company non-stop by nurturing an environment that doesn’t inhibit imagination from the get-go and paying attention to all the sources of regenerative energy. What Delbourg-Delphis calls “kaizen feedback” is one of them. >>>
Sramana Mitra: What is the competitive landscape around you?
Mark Redlus: We’re in a really interesting space. We’re in a convergent space of a bunch of different tech players and competitors. I wouldn’t say we have a direct competitor. I would say we have some really interesting adjacencies. Those adjacencies are folks who are doing pure big data plays that are mining through payor data looking for high-risk individuals. They are firmly backed in the back office.
Then you’ve got folks who are spending more time directing actual treatment or health coaching support through tele-based products and platforms. We sit dead in the middle of that and supporting this idea of using big data. That starts at the patient level, aggregating that data up, and >>>
Sramana Mitra: How many companies have you invested in so far?
Ray Chan: Over the last seven years, we have invested in over a hundred companies. Of course, a lot of them disappeared. Some of them are still going on.
Sramana Mitra: Where I’m going with the question is what have you learned from investing in these hundred companies? How long does it take to get to FDA and get to a milestone where you can exit? How many of these hundred have you gone through with that cycle?
Ray Chan: Usually, the milestone cannot go beyond a year or a year and a half. The money we invest is not a lot. We don’t usually look beyond a >>>
Sramana Mitra: There are a couple of trends questions that I want to ask you. What are the adoption trends in your hospital system customer base? What percentage of the hospitals are doing something like this with you right now?
Mark Redlus: Adoption rate is woefully small. We’re in the early adopter phase. We’re not at the bleeding edge, but it’s certainly in the front side of the wave. Intellectually, they know that behavioral health is a lever they can pull in cost of care. I don’t think, practically, they have a way to embrace that.
A lot of the workflow processes that you would just naturally assume are present in health systems are impediments to bringing in >>>
According to a recent report, the global supply chain management (SCM) market size is expected to have grown 14% to $12.2 billion in 2017. The market is dominated by SAP which accounts for nearly 27% of the market share, followed by Oracle with 14% share. The growth in the industry will continue to be driven by organizations wanting to adopt cloud-based SCM offerings. Tradeshift is one such cloud offering that has recently joined to the Billion Dollar Unicorn club.
Sramana Mitra: How big is the team in Detroit?
Amjad Hussain: Our total team size, including engineering, data science, and implementations, is a little over 50 people. We do not have any subcontracting or offshoring going on. Since we live in a very competitive and global landscape, we have to work in a very efficient manner. We have found several recipes of how to work together effectively so that we can compete globally.
Sramana Mitra: I have a couple of questions on that. How many customers do you have today?
Amjad Hussain: Because we go deep and wide and have these very long-term customer relationships, total number of customers is not a big list. We have around 20. >>>
Sramana Mitra: You said you have a very big geographical focus? How do you define that geography? How do you constrain that geography?
Ray Chan: We do touch on some investments in Canada. We have maybe 10% of our investment outside of California all the way to Midwest or East Coast. Most of our investments are focused within California. We invest very much into Northern California and Southern California companies.
Sramana Mitra: Could you talk a little bit about some of the highlights of your portfolio? Give us a sense of when you encountered this company, what did they have by way of proof points? Why did you choose to go into these companies? >>>