My guest today is D.A. Wallach, one of the more interesting investors I’ve come across. He is the former lead singer of the group Chester French and the former artist-in-residence at Spotify, where he was also an early investor. While he’s also an early investor in companies like SpaceX, his focus the last 5 years has been on early stage health care investing, which is the topic of this conversation. We discuss the entire life sciences and heath care investing ecosystem. This was recorded in the very early days of the Coronavirus outbreak so while we touch on it briefly it isn’t the primary focus, and I intend on returning to more traditional episodes like this one in the coming weeks, meant to be evergreen conversations. Please enjoy my conversation with D.A. Wallach.For more episodes go to InvestorFieldGuide.com/podcast.Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.Follow Patrick on Twitter at @patrick_oshagShow Notes1:31 – (First question) – Where is interest in healthcare started4:04 – How to categorize health services5:13 – The product of medicine6:56 – How medicine is changing in 202010:17 – What is enabling innovation in medicine12:41 – Manufacturing of solutions, gene therapy example17:16 – Using CRISPR19:47 – Pros and cons, and the morality of gene intervention23:44 – How progress is being made in medical breakthroughs26:51 – What is the business and investment world seeing on the longevity side30:15 – What is next in the wearable medical tracking trend33:04 – The personalization of medical treatments34:31 – How he thinks about all of this from an investing standpoint36:37 – Exiting these companies39:41 – How he thinks about founders in this space42:35 – Drug prices42:46 – The Paradox of Pricing46:45 – What will lead to a change in the pricing of drugs49:05 – The delivery side of healthcare51:09 – Investments that could improve the delivery side of healthcare53:33 – Thoughts on the anti-interventionist line of thinking in the medical world57:50 – Lessons from his health portfolio1:02:33 – Other frontiers that pique his interest, including gut biome1:06:46 – His career in music1:08:20 – Lessons he learned during his time in the music industry1:10:19 – Opportunities in the music industry as an investor1:12:29 – Kindest thing anyone has done for DALearn MoreFor more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclubFollow Patrick on Twitter at @patrick_oshag