Sometimes, when you are faced with an overwhelming problem with no easy solution, you have to be the one to find and fight for it. This is exactly what Eric Lefkofsky did when he created Tempus after his wife Liz was diagnosed with breast cancer. He was able to see first hand that the healthcare industry was woefully behind in technology compared to other industries despite electronic health records. This problem was not only frustrating, it was deadly. There needed to be a way to collect every last bit of data on a patient and their disease to streamline it into data that was not only accessible, but made sense.
Tempus doesn’t just aim to organize information, it wants to be able to mainstream the collection and use of the human genome by making it more affordable. Lefkofsky wants there to be less of a guessing game when it comes to finding the best medications and treatments for cancer and other daunting diseases. Tempus wants to create an operating system to manage and navigate disease treatment and the human body, this may seem like a lofty goal, but not an impossible one.
Eric Lefkofsky started with the humble beginnings of selling carpet at his alma mater, the University of Michigan, and has recently left his CEO position at Groupon (a company he co-founded) to focus on Tempus and philanthropy work. A video on Tempus’ website states, “We believe we can propel the next breakthrough in healthcare.” Lefkofsky thinks that out of all the changes big data and AI will make to the world, the impact on health technology will be one of the greatest and most rewarding.
In 2006, he and his wife established the Lefkofsky Family Foundation, a charitable organization that focuses on the community in Chicago and its surrounding areas. Eric Lefkofsky has given millions throughout the recent years to cancer research and treatment facilities, along with being a trustee for Lurie’s Children’s Hospital of Chicago. The Lefkofsky’s are so dedicated to their charitable work that they have become part of The Giving Pledge, a group of philanthropists that have pledged to donate at least half of their wealth during their lifetimes.
Details Eric: Facebook.com/eplefkofsky/
Scott Rocklage is part of a company called 5 AM Ventures. The company helps startup life-science companies get off to a solid financial start. He joined the company in 2003 and became a managing partner of the company the following year. He has been a leader in the category of healthcare management for more than thirty years. Read more: Scott Rocklage | Bloomberg and Scott Rocklage | Ideamesch
Leading up to this position at 5 AM Ventures Scott Rocklage earned a Bachelor’s Degree in Chemistry at the University of California at Berkeley.
He earned his Ph.D. in the same subject at the Massachusetts Institute of Technology. In an interview with Ideanmensch. Scoot Rocklage talks about his life and the advice he would give to others.
Scoot Rocklage got the idea for 5 AM Ventures in the hopes that he and others in the field of life science can get their foot in the competitive door. His days are never the same either.
Some days he is intensely studying a new area in the life-science field and other days he is assisting companies with their portfolios. On different days he is usually at a Board Meeting of the company. His schedule is never the same way twice. Learn more about Scott Rocklage: http://chemistry.mit.edu/scott-rocklage-phd-2-and-his-wife-patty-are-celebrated-their-major-gift
When it comes to businesses Scott Rocklage says to keep to a company’s strong points. By making sure that a company knows what it does well it can help the company grow for the future.
One piece of advice that Scott Rocklage would give to other people is to stay prioritized in what you are doing. He knows the meaning of making sure that his time is spent wisely and to the best effect of the company. Staying organized in a business sense can ensure that any company will go far in the future.
These are just a few things that Scott Rocklage has learned over the years. He has also learned that being able to take an occasional risk in life is one way to get ahead in the business world. He says that things will change as a business goes on but knowing a company’s strengths and weaknesses will help in the long run.
Employee benefits have become a very important topic for most corporations some businesses have stopped providing stock options for many reasons. When corporations find themselves perplexed in such matters they turn to business attorney’s like Jeremy L. Goldstein. Learn more: 8
Mr. Goldstein is a New York business attorney that is a graduate of the New York University School of Law. Mr. Goldstein is the founder of Jeremy L. Goldstein & Associates, LLC. and a mental health organization that he founded called The Fountain House. He has more than 15 years of experience in aiding corporations and clients with effectively streamlining compensation practices.
Business attorney’s like Mr. Goldstein encounter corporations wanting to axe stock options benefits to help the bottom line of the company’s finances. The corporations can benefit from the cut by cutting down on accounting errors that can result in increased financial obligations, and eliminating those tax expenses from being reported in case the stocks do become a burden.
Although, these stock options seem to be a possible burden for a corporation many can also see advantages from implementing these benefits. Corporations may see an increase in employee morale and have a sense of urgency in seeing the company’s success grow. Employees and corporations can find themselves in a win-win situation when they implement solutions known as a knockout. These types of stock options limits vesting requirements and employees will lose their share if the value falls under a certain amount, so the excessive cost that corporations found with share options are diminished from on-going expenses and employees see an incentive in having the stock options when they are growing.
Mr. Goldstein and his law firm specialize in advising compensation committees, CEO’s and management teams in executive compensation and aid in the awareness and the needs that benefit all parties involved.