Scaling to $500M in Revenue: ModMed CEO Daniel Cane (Part 2)

Sramana Mitra: Okay. So that’s one positioning differentiation. What about within the private practice market? Why do your customers pick you and what is special about it? What are the needs of a dermatology private practice or an OB-GYN practice or a plastic surgery practice? What’s special about each of these individual types of practices?

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Scaling to $500M in Revenue: ModMed CEO Daniel Cane (Part 1)

I first spoke with Dan a decade back. Here is the story. This conversation offers insights on his scaling strategy with ModMed.

1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 7)

Sramana Mitra: So this is a question, Ben, time-wise. I know you’re passionate about food and the whole food-oriented lifestyle. What is your view about cooking?

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1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 6)

Sramana Mitra: One of the things that I’m excited about in what’s happening right now is the smaller businesses’ ability to afford technology. For that to be more and more interesting, there will need to be more and more interesting technology available at really low prices that are affordable for the small businesses. That opportunity is still very big.

1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 5)

Sramana Mitra: That is absolutely correct in the examples that you’re giving. There is one thing I want to point out for the audience. Remember when software was being sold by large companies to large enterprises. Back then, this whole category of software companies came in and priced very low SaaS offerings and started selling to SME.

That was a very different business, and their customers are really the no-name customers. That was the strategy that they followed successfully. So that is a valid strategy.

1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 4)

Sramana Mitra: So coming back to what you said about the data not being a long-term defensible mode, my follow-up question on that is, what is in your view and in the portfolio that you are developing in this field, what are you envisioning as a defensible mode?

Benjamin Narasin: So my thesis or hypothesis is that this will be very similar to the early days of the web.

1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 3)

Sramana Mitra: We have a question from the audience. Sanjeev Munjal is asking, “Does this mean that businesses with a lot of historical data can generate LLMs better for sectors like banking, insurance, etc.?”

Benjamin Narasin: Well, that’s somewhat my point—it’s a temporary advantage if a business has historical data.

1Mby1M Virtual Accelerator AI Investor Forum: With Benjamin Narasin, Founder and General Partner at Tenacity Venture Capital (Part 2)

Sramana Mitra: Before we move on to the next example, Ben, what kinds of insights are being tracked by this AI chief of staff?