Tech and innovation journalist Kara Swisher interviews Reed Jobs about this work with the YOSEMITE innovation fund, touching also on his work with Emerson Collective. Early 2024.
https://podcasts.apple.com/au/podcast/on-with-kara-swisher/id1643307527?i=1000648332776
Report on the Interview Between Kara Swisher and Reed Jobs
Introduction
The interview,
hosted by journalist Kara Swisher, featured Reed Jobs, head of the biotech
investment firm Yosemite. The discussion revolved around the mission and
strategies of Yosemite, Jobs' motivations and experiences, and the broader
implications of advancements in cancer research and biotech.
Background on
Yosemite and its Mission
Yosemite, a venture
capital fund, was founded by Reed Jobs with the mission to make cancer
non-lethal within our lifetimes. This objective stems from a personal
commitment, as Jobs' father, Steve Jobs, succumbed to pancreatic cancer.
Yosemite is an offshoot of Reed’s work as Managing Director of Health at
Emerson Collective, founded by his mother, Laurene Powell Jobs. The fund aims
to bridge the gap between early-stage cancer research and practical therapies,
leveraging investments in cutting-edge diagnostics, therapeutics, and digital
health.
Key Themes from the
Interview
- Differentiating Cure from
Non-Lethal Treatment: Jobs emphasized the distinction
between finding a cure for cancer and making cancer non-lethal. He noted
that the term "cure" can be misleading and overused. Instead,
Yosemite focuses on systematic elimination of mortality through early
detection and precise, patient-based approaches.
- Early Detection and
Immunotherapy: Jobs discussed the parallels between cardiovascular disease and
cancer, highlighting how early intervention and monitoring can transform
cancer treatment. Yosemite invests heavily in next-generation
immunotherapy, which harnesses the body's natural defenses against cancer.
Jobs praised the advancements made by researchers like Jim Allison, whose
work on T-cell receptors has been pivotal.
- Philanthropy and Investment: Yosemite
employs a dual approach, combining philanthropic funding with venture
investments. This model, inherited from Emerson Collective, allows the
firm to support ambitious, high-risk research that might otherwise
struggle to secure funding. Jobs stressed the importance of supporting
early-stage academic research and facilitating the transition from
academic innovation to clinical application.
- Digital Health and Remote Care: The interview
highlighted the role of digital health in improving cancer treatment. Jobs
pointed out the inefficiencies in the current healthcare system, where
physicians often lack access to the latest data. By investing in digital
health solutions, Yosemite aims to integrate real-time data into patient
care, enhancing treatment outcomes.
- Challenges in Cancer Research: Jobs
acknowledged the complexities of treating different types of cancer. He
pointed out that while some cancers, like melanoma, respond well to
immunotherapy, others, such as pancreatic and brain cancers, pose
significant challenges. Despite these obstacles, advancements in genetic
and epigenetic editing offer promising avenues for future treatments.
- Influence of Personal Experience: Jobs’ personal
journey, including his early exposure to oncology labs and his father's
battle with cancer, has profoundly influenced his career. He shared
insights from his time at Stanford and his decision to steer Yosemite
towards impactful cancer research.
- The Role of AI in Biotech: The discussion
also covered the transformative potential of AI in diagnostics and drug
discovery. AI can accelerate the identification of early-stage cancers and
streamline the drug development process. However, Jobs cautioned against
the assumption that technological advancements alone would reduce
healthcare costs, emphasizing the need for systemic changes.
- Legacy and Future Aspirations: Jobs expressed
his hope that Yosemite would play a pivotal role in changing the paradigm
of cancer treatment. He aspires for Yosemite to be part of groundbreaking
companies that significantly improve patient outcomes.
Conclusion
The interview
provided a comprehensive overview of Reed Jobs' vision and the strategic
direction of Yosemite. By focusing on making cancer non-lethal, leveraging
early detection, and integrating advanced technologies, Yosemite aims to
revolutionize cancer treatment. Jobs' personal commitment and strategic
insights underscore the potential impact of Yosemite’s work in the fight
against cancer.
4o
· What are some of the
most distinctive viewpoints expressed by Reed Jobs in this interview? Or most
surprising?
ChatGPT
In the interview,
Reed Jobs articulated several distinctive and surprising viewpoints:
- Focus on Making Cancer Non-Lethal
Rather Than Curing It: Jobs emphasized the goal of
making cancer non-lethal within our lifetimes instead of curing it. This
approach is based on the understanding that cancer, due to its complex
nature and the fact that it can arise from normal cellular processes, may
never be completely eradicated. Instead, the focus should be on early
detection, systematic treatment, and managing the disease so that it does
not lead to mortality.
- Philanthropy and Investment
Synergy: Yosemite employs a dual strategy that combines philanthropic
efforts with venture capital investment. This approach is relatively
unique, especially in the biotech space, and allows the fund to support
high-risk, early-stage research that may not immediately attract
traditional investment. This synergy aims to accelerate the translation of
academic research into clinical applications.
- Critique of the "Cure"
Narrative: Jobs critiqued the prevalent use of the term "cure" in
oncology, arguing that it can be misleading and overly simplistic. He
stressed the importance of being realistic about scientific progress and
focusing on reducing mortality through a combination of therapies and
early interventions.
- Importance of Early Detection and
Monitoring: Drawing parallels with cardiovascular disease, Jobs highlighted the
importance of early detection and continuous monitoring in cancer
treatment. He envisions a future where cancer is detected and treated much
earlier, significantly improving patient outcomes.
- Engagement with Universities and
No-Strings-Attached Funding: Yosemite's engagement with
universities and its approach to funding research without strings attached
is notable. Jobs emphasized the importance of supporting ambitious and
innovative ideas in academia, even those that may not have immediate
commercial applications.
- Personal Influence and
Motivation: Jobs' personal connection to cancer, stemming from his father's
battle with pancreatic cancer, profoundly shapes his work. His early
exposure to oncology labs and participation in tumor boards during his
father's illness provided him with a unique perspective and a deep
commitment to the cause.
- Advancements in Immunotherapy: Jobs discussed
the exciting developments in immunotherapy, likening it to a software
approach in its potential to be tailored and optimized. He pointed out
that while immunotherapy has shown incredible success in some cancers, the
challenge lies in making it effective for a broader range of cancers.
- AI's Role in Biotech: Jobs
acknowledged the significant potential of AI in diagnostics and drug
discovery. He noted how AI could enhance early detection and accelerate
drug development but also expressed concern that these advancements might
not necessarily lead to reduced healthcare costs.
- Concerns About Equitable Access
to Clinical Trials: He highlighted the inequities in
access to clinical trials, pointing out that logistical and financial
barriers often prevent diverse participation. Jobs mentioned the shift
during the COVID-19 pandemic, where remote care delivery became more
common, as a positive development that could improve accessibility.
- Long-Term Institutional Backing: Jobs
emphasized the importance of having backing from long-term institutional
investors, such as university endowments, which align with Yosemite's
scientific and temporal goals. This support is crucial for sustaining
long-term research efforts that may not yield immediate returns.
These viewpoints
collectively paint a picture of a thoughtful and strategic approach to cancer
research, influenced by personal experiences and driven by a desire to make a
tangible impact on patient outcomes.
4o
· I realize Reed's talk
was pretty enthusiastic, optimistic, and upbeat. But did he suggest or infer
any areas that were particularly frustrating, challenging, or difficult?
ChatGPT
Yes, Reed Jobs did
suggest several areas that are particularly frustrating, challenging, or
difficult:
- Pancreatic Cancer and Other
Hard-to-Treat Cancers: Jobs highlighted pancreatic
cancer as one of the most challenging cancers to treat. He explained that
pancreatic cancer has very few mutations, and those mutations are
particularly difficult to target. Additionally, the cancer often forms a
protective barrier of scar tissue around itself, making it difficult to
detect until it is in an advanced, often untreatable stage. He mentioned
that pancreatic, brain, and ovarian cancers are likely to be among the
last to see significant improvements in treatment.
- The Limitations of Immunotherapy: While Jobs is
optimistic about the potential of immunotherapy, he acknowledged that it
currently works well for only a minority of cancers. He pointed out that
achieving broader efficacy is a significant challenge and will require
considerable time and effort to optimize treatments so that they are
effective for a larger percentage of patients.
- Challenges with Cancer Vaccines: Jobs discussed
the tantalizing idea of cancer vaccines, which aim to prime the immune
system to prevent cancer. However, he noted that this approach has not
been successful thus far for most cancers, and achieving this goal
requires incredible precision and understanding of when and how to
activate the immune system against cancer cells.
- Delivery Issues in Gene Editing: One of the
major challenges in the field of gene editing, according to Jobs, is the
delivery of therapies to specific organs or cells. Current technologies
often lack the ability to target gene edits precisely, which is a critical
safety concern. Developing delivery methods that can accurately and safely
target specific cells remains a significant hurdle.
- Equitable Access to Clinical
Trials: Jobs pointed out the logistical and financial barriers that prevent
many people from participating in clinical trials. The requirement to live
near an academic medical center and the inability to reimburse
participants for costs related to trial participation create inequities.
This is a structural issue that makes it difficult to obtain diverse and
representative data in clinical research.
- Integration of Data in
Healthcare: Jobs expressed frustration with the lack of integration of outcomes
data in the healthcare system. He mentioned that physicians often do not
have access to the latest data to inform their decisions, leading to
suboptimal patient outcomes. The sheer volume of scientific literature
being published makes it impossible for physicians to stay up-to-date,
which further complicates effective patient care.
- Economic Barriers to Innovation: Jobs
acknowledged that the high cost of developing new therapies, especially in
the context of clinical trials, is a major barrier. He noted that phase
three clinical trials can cost a billion dollars, and only one out of
three trials is likely to succeed. This high risk and high cost
environment make it difficult for private companies to underwrite new
innovations.
- Potential Disconnect Between
Technological Advances and Cost Reduction: Jobs expressed
concern that even if technological advancements dramatically accelerate
drug development and discovery, these advances might not translate into
lower costs for patients. This disconnect could limit the accessibility
and practical benefits of new therapies.
Overall, while Jobs
maintains an optimistic and enthusiastic outlook, he clearly acknowledges and
addresses the substantial challenges and frustrations within the field of
cancer research and treatment.
4o
4o
Very good summary! Could you review the interview again, and this time,
cast the summary in the form of five questions, and answers. The resulting
essay should capture most all the material above (including your later
"surprises" section and "pessimism" section). open by
saying, 'I heard a very interesting interview this week, with Reed Jobs, head
of Yosemite venture fund for oncology biotech. Here's my take on what i heard,
presented in Q&A format."
ChatGPT
I heard a very
interesting interview this week with Reed Jobs, head of Yosemite venture fund
for oncology biotech. Here's my take on what I heard, presented in Q&A
format:
1. What is the
mission of Yosemite, and how does it differentiate itself from other cancer
research initiatives?
Reed Jobs emphasized
that Yosemite aims to make cancer non-lethal within our lifetimes, rather than
focusing on the elusive goal of curing it. He noted that the term
"cure" can be misleading and overused in oncology. Yosemite's
approach is to eliminate cancer mortality through early detection, systematic
treatment, and managing the disease, similar to how cardiovascular disease is
managed today. This strategy includes investing heavily in next-generation
immunotherapy, digital health, and precise patient-based approaches.
2. What are some of
the most distinctive and surprising viewpoints expressed by Reed Jobs during
the interview?
Reed Jobs
articulated several distinctive viewpoints:
- He critiqued the prevalent use of
the term "cure" in oncology, arguing for a more realistic focus
on making cancer non-lethal.
- He highlighted the importance of
supporting ambitious and innovative ideas in academia, even those that may
not have immediate commercial applications.
- Jobs emphasized the critical role
of early detection and continuous monitoring in transforming cancer
treatment.
- Yosemite's dual strategy of
combining philanthropic funding with venture investments is relatively
unique and aims to support high-risk, early-stage research.
- Personal experiences,
particularly his father's battle with pancreatic cancer, profoundly
influence Jobs' work and commitment to cancer research.
3. What challenges
and frustrations did Reed Jobs highlight regarding cancer research and
treatment?
Reed Jobs
acknowledged several significant challenges and frustrations:
- Pancreatic cancer and other
hard-to-treat cancers pose significant difficulties due to their
biological characteristics, making them resistant to current treatments.
- While immunotherapy holds
promise, it currently works well for only a minority of cancers, and
achieving broader efficacy is a major challenge.
- The concept of cancer vaccines is
still in its early stages, with many obstacles to overcome before they can
be effective.
- Delivering gene editing therapies
to specific organs or cells with precision remains a significant hurdle.
- Equitable access to clinical
trials is limited by logistical and financial barriers, preventing diverse
and representative participation.
- The healthcare system's lack of
integration of outcomes data leads to suboptimal patient care.
- The high cost and risk associated
with developing new therapies, particularly in the context of clinical
trials, present economic barriers to innovation.
- Technological advancements may
not necessarily lead to reduced healthcare costs, potentially limiting the
accessibility of new therapies.
4. How does Reed
Jobs view the role of AI and digital health in the future of cancer research
and treatment?
Reed Jobs is
optimistic about the potential of AI and digital health in cancer research and
treatment. He discussed three key areas where AI can have a significant impact:
- Diagnostics: AI can enhance
early detection by identifying micro metastases or early tumors that may
be obscure to the human eye, thus improving the accuracy of radiology and
pathology.
- Drug Discovery: AI can
accelerate the pace of innovation by modeling proteins and identifying
druggable niches without expensive and time-consuming processes. This
could lead to the discovery of new treatments for previously untreatable
oncogenes.
- Treatment Optimization: AI can be used
to model patient outcomes and optimize clinical trials, potentially
reducing the need for large-scale patient recruitment and improving the
efficiency of trials.
5. What are Reed
Jobs' long-term aspirations for Yosemite, and how does he view the broader
landscape of cancer research and the biotech industry?
Reed Jobs aspires for Yosemite to play a pivotal role in changing the paradigm of cancer treatment by being part of groundbreaking companies that significantly improve patient outcomes. He aims to focus on diagnostics, therapeutics, and digital health to achieve this goal. Jobs believes that the integration of biology and technology will be one of the most important innovations of the 21st century, with significant implications for patient care and the biotech industry. He also expressed a desire to maintain an old-school focus on creating a few great things that can unambiguously change the world for the better, despite the changing incentives in Silicon Valley.
