Brian Kreiter & Alex Karnal
Co-founders, Braidwell
This episode premieres Thursday, May 28 at 7:00pm ET.
We have a shared, very clear common goal, which is: we want to help a billion people live a longer and better life.
Summary
Whenever I get to sit down with Alex and Brian, I inevitably walk away more optimistic than I was before: about the possibilities of science, our ability as a society to collaborate, and the likelihood that we are on the precipice of some major breakthroughs. The two of them have built Braidwell, a $3.5 billion life sciences investment firm, on this kind of scientific optimism. It is not a blind faith that good things are bound to happen on their own, but a confidence that, with the right people and resources pointed at the right problems, we have the means (and increasingly powerful tools) to turn promising ideas into remarkable achievements.
There is a lot to unpack in this episode, but looking back, two bits of wisdom stand out in particular. The first, from Alex, has to do with the tremendous amount of work needed to achieve tremendous breakthroughs. While it may be the case that greatness cannot be planned, it is the product of a lot of time, dedication, and effort that is eventually visited by serendipity. A lot of this episode is dedicated to exploring the systems and institutions that have driven Braidwell’s remarkable success.
The second, from Brian, is to avoid partnerships unless you really need them. Braidwell is itself a fantastically successful partnership, but it is built on the deep investment both leaders have in its central project and a recognition of the natural entropy partnerships produce. Striking that balance requires hard work to make sure the partnership is more than the sum of its parts.
Mentions & Resources
Why Greatness Cannot be Planned: The Myth of the Objective, by Ken Stanley and Joel Lehman
Guest Bios
Alex Karnal, Chief Investment Officer, Partner, Co-Founder, Braidwell
Alex leads the Investment Team of Braidwell. Prior to Braidwell, Alex was a Partner, Managing Director and the Co-Portfolio Manager at Deerfield Management, from 2005 until 2021 where he helped create The Cure, Deerfield's healthcare innovation campus. He co-founded and previously served as chairman of The Institute for Life Changing Medicines, a nonprofit dedicated to developing medicines for people suffering from less common, life-threatening, diseases around the world. Alex previously served on the Board of the Biotechnology Innovation Organization, the Museum of Science, the Children's Health Fund as Vice Chairman, New York Academy of Medicine, Discovery Labs, and Recovery Centers of America, the latter two of which he co-founded. Earlier in his career, he was a member of Merrill Lynch's Global Equity Linked Products Group, as well as its Capital Markets team. He received a B.S. from the Massachusetts Institute of Technology and an M.S. from Johns Hopkins University.
Brian Kreiter, Chief Executive Officer, Partner, Co-Founder
Brian is the Chief Executive Officer of Braidwell. Previously, Brian served as the Chief Operating Officer of Bridgewater Associates, one of the largest investment managers for governments, central banks, pension funds, endowments, and foundations. At Bridgewater, he was a member of the Board of Directors, and held key leadership roles, including Chief of Staff to the firm's founder, Ray Dalio, Department Head of Client Service, and Department Head of Investment Research. Earlier in his career, he was a consultant at McKinsey & Company. Brian co-founded LIFT in 1998, a national organization that helps families break the cycle of poverty—an effort for which he and his co-founder received the 2004 National Jefferson Award for Public Service. In 2020, he co-founded NeighborShare, a technology-driven nonprofit that enables frontline heroes to identify and connect "neighboring" donors with families in need. Brian holds a B.A. from Yale University and an M.B.A. from Harvard Business School.