Health Innovators
Health Innovators

Episode 91 · 4 months ago

Old dog, new tricks: Taking innovative technology mainstream w/ Peter T. Bianco


When it comes to innovative technology, the healthcare space has always been notoriously slow, making them the proverbial “old dog.”

But when you have a “new trick” with data backing up its efficacy, sometimes that old dog sits up and takes notice. Just ask Peter Bianco, Founder & Chairman at

Peter’s company took a non-AI proven screening product and enhanced it with artificial intelligence, filling a long-neglected need in the orthopedic space.

The solution proved to be a more convenient and effective option for both the healthcare industry and patients at risk for osteoporosis.

Peter takes the time to highlight his commercialization journey - one that utilized serendipity, strategic steps, and innovative vision on its way to disproving that old saying that you can’t teach an old dog new tricks.

Here are the show highlights:

  • The power of collaboration (5:58)
  • Navigating the gap between pilots (10:16)
  • How to price revolutionary innovations (15:29)
  • When small steps are better (17:53)
  • Education’s role in commercialization (22:47)
  • The benefit of a strategic lead investor (29:08)

Guest Bio

Peter T. Bianco is Founder & Chairman at, a company that provides a novel, cost-effective screening method for early detection of osteoporosis, intervention and fracture prevention.

A serial entrepreneur with nearly 30 years of experience in research and product development, sales, and marketing in the healthcare field, Peter started as a product development engineer and worked his way up to senior marketing director with Johnson & Johnson Orthopedics.

From there, he became CEO of a groundbreaking Venture-backed internet-based eHealth company that was acquired by Medtronic.

Peter is a member of the Orthopedic Research Society (ORS) and holds four U.S. and European patents relating to orthopedic joint reconstruction devices.

He earned an MBA from Suffolk University in Boston, Massachusetts and a bachelor's degree in human physiology from the University of Minnesota.

If you’d like to reach out to Peter, you can find him on LinkedIn at Peter T. Bianco, reach out to the OsteoApp LinkedIn page at, or email him at PTBianco@osteo

You're listening to health, innovators,a podcast and video show about the leaders influencers and early adopterswho are shaping the future of health care in your host doctor roxey movie. Welcome back to the show healthinnovators on today's episode, i'm sitting down with pete bianco, who isthe president and ceo of sto ai, welcome to the show pete thanks doctorroxy, i'm really happy to be here. Thank you for joining me. I'm reallyexcited about today's conversation because i think that you haveaccomplished quite a few milestones, although you are still early in yourjourney, you've had some successes that i think will be so inspiring andencouraging to the health innovation community. So before i get into myquestions that i've prepared for today just tell our audience a little bitabout your background and what you've been innovating these days sure. So istarted out as an engineer. I'm an engineer, an nba and the totality of my career has been inthe muscal skeletal space worth pedi in particular, started out in research andtotal hip, arthur plasty moved into industry. Work for james j for manyyears took on responsibility and marketing,product management for a major total, hip replacement product line and duringthe course of that came up with an idea that was a comspin off that i spent off of jj with ja, development, corp and several venturefirms and sold that to metron in two thousand and two s quite a while ago.Stacom thing it was the first, it was the first forth peak specific patientengagement tool that we brought to the market and put it out there. And thenwe got hammered by the com bubble like everyone else, but it had. But i gotthe bug the startup bug from there and so was early very early and just theni've been at the nexus of early stage, muscalski to technologies and businessdevelopment and in various roles, either an investor or you know, startup. But this new project is one that kindof landed in my lap two years ago, at a confluence of some very excitingdevelopments in the market relative to uncovering undiagnosedpatients, with osteoporosis, with a proventechnology out of europe and combining it with artificial intelligence and now atthe point, where we're ready to scale this into the market place to addressthis horrific disease and chronically under diagnosed sector ofthe market. Well, how exciting to have such aunique opportunity to really transform health care? I i think, that's alsopart of what i'm so excited about in your story and what you guys are doing.You know there's a lot of people out there that are innovating amazingthings. But you know it's really not...

...going to transform the industry as muchas i think something like yours. Well, so just talk a little bit about theproduct that you're bringing to market right, so we're spending a technologyout of a publicly traded packs company from sweden called cetra that they haddeveloped a technology that essentially from a digital etre of the hand,isolates the second third and fourth metacarpal and in thirty sit runs inalgorithm and in thirty seconds comes back with an ostio process, t score anda report now. Her whole process is proprietary, a proprietary system thatimmigrates into the clinical workflow, and we looked at that technology andwhen they launched it in europe, it's in use in europe. Now there's a atremendous body of per reviewed literature behind it and when i, you know kind of in a seredinaway how this all came about was even before i knew about thistechnology. I received a contact from the tech transferred group at theuniversity of rochester here in rochester new york, where i am, and they were working on an artificialintelligence algorithm that was very similar to that. The function of that,and so i started looking at it with dr hammer. I said you know i'll, take alook at this from a commercial standpoint and see if there's legs tothis, and i started realizing with my background in orthopedics that you knowasopios and bone mineral density or, if always been an issue, but nothing thatanybody ever really focused on as being a factor in influencing outcomes oforthopedic procedures. And yet it does tremendously. I mean just talk to anysurgeon about a parpot fracture. What you know hell. It is to repair withsomething like that, so that's caused by assoops and i think we're startingto see literature that supports that. So i looked at it, i thought you know.This is a very important and interesting concept and you know froman artificial intelligend standpoint. The algorithm is the easy part. It'sthe data that start art right, and so i literally talk about sara dipity. Two years ago i was walking down theaisle of the pack vendors at the last orthopedic academy meeting that washeld live, and i thought you know this. This is all x ray based. I bet a packscompany would know something about this and i just happened to walk into thesector, both wow and said blah blah blah blah hand extras blah, blah blah.You know astor process and wait right here and two minutes later, i'mstanding toto to with the co the company and we started talking, and hethought you know their business was taking off. This was becoming somethingi didn't want to focus on any more specifically, i needed specific focus,so we combine the two together and we started working it really a hybridmodel of a non ai proven product in the market already combining it withartificial intelligence to enhance it and expand it to a larger data. So onexprassion, what a incredible jump...

...start to the to the commercialization process. Youknow when you think about other innovators out there that are having tobuild the technology having to go through fda approval having to develop.You know maybe do piloting for years to develop or maybe even longer to be ableto acquire that type of evidence to substantiate the claims that they'remaking- and it sounds like what you're saying is that you know with thiscollaboration between the two entities, melted into one offer that you've beenable to leverage all the great things that they've already done and then pairthat with something very revolutionary to take to the us market. That's rightand i kind of equated to be shot out of a canon. I mean the in the dat way hasway it's like you know, and you know we did get hammered and delayed by the bythe pandemic. Obviously, but it was kind of a blessing in disguise in oneer yeah. I could talk a little bit about that later, but so really havingthis platform and having a major company backing you, we decided topilot this in three medical centers. What they comeon and staggered for him, but the first one is a major medical center on theeast coast. Second, one is a private, large private practice in new england,the largest group private practice in new england worth practice, and theother is an affiliated specialty hand center in the midatlantic in the baltimore area and the first one in boston, largeacademic, center of downtown boston. We've just now finished that pilot andit's been very successful and one of the one of the just by again saran dipity happened tocome across the thought leader in this area and i'll mention dr tamar rosentalat beth. Israel decanus really saw the value in this and that she fixes a lot of distal radius,fractures risk fractures in cation ken and she routinely screens thosepatients if you're fifty year older and you have a risk fracture, you more thanlikely have ostiarius and she started screening her patients years ago by sending them out for a dexas anwhich is the current gold standard. But take six weeks. You know they're old,it's inconvenient and a lot of times. They don't show up and she doesn't getthe data back and we presented an opportunity to to her with a proventechnology to give her an accurate tea score, an astar process. Reading ofthat patient from the diagnostic x ray she's looking at before, she actuallyoperates on the patient so that we ringing her eyes like, like this to hugh gone through a very successfulpilot with her just just looking at just a regis fractures. Our other sitesnow are looking at any patient that is in the zone of requiring screening orshould be screen, whether they factored or not. We're starting to look at thatand we're starting to find our ability... find thousands of patientspotentially that have no idea that they have osteoporosis until they fractureand that's really. The crux of what we're trying to get at is that seventyfive percent of people that are at risk for fracture due to osteoporosis, haveno idea that they they're at risk, and so we have a really unique to tool tofine these people before they do that wish. I went that available for myfriend, i'm as women's group in one of my really good friends, probably aboutfifty seven years old, just walking down the sidewalk tripped over like hershoe broke her wrist and it's been a nightmare for her, so painful soexcruciating and just completely unaware that she was at risk. Well, youknow the problem of walking down that stand. Rispects are at inconvenience intheir painful, but if you've had an ossioro risk, fracture you're at riskfor vertebro or hip fracture your risk for that goes up. Yeah mendous, there'sin the in the literature, there's a very clear line between the twoconnection between the two. So if we can catch them before they fracture orafter they have a risk fracture and prevent that next fracture that couldyou don't can be lethal. In some cases, we've done our job and we think thatwe're going to bend the curve on this horrific disease and it's a globalepidemic now and with the aging population, is just going get worse toor sure. So when i kind of dive deep into the pilot plan of the pilotstrategy. First well, a lot of times when i'm talking to innovators, you'llthink that more pilots are better and then it becomes really difficult tomanage ten or twelve pilots across the country. There's there's a gap between being able to find someone to say yesto pilots right. So there's the challenge there and then, when thepilots are running negotiating sales during that process or after thatprocess, once they demensurate the the claims that they're making to be able to get cash flow coming in.So obviously you or maybe in a different position with having some funding from the parentcompany, but talk a little bit about what that experience was like. Maybesome lessons learned around piloting that you can share with our audiencesure- and you know to be honest with you- we didn't have a plan a we got, pa e. When i showed this toour team, they got it right away. We went frogs, and- and so this wasoriginally deployed in europe and mammography centers as a secondaryimage to having a brest exam and what came out of one site in europe, adoptedthis northed clinic for sorting, finding sorting and intervening inpatience and focusing on the ones that really need to be focused on after theyhad had a fracture and that's the model that we were taking from europe andapplying it in the united states, of course, you're running from asocialized medicine system into a fee...

...for service system. So our realapproach was the technology's proven. That's not the issue and my let'sification, not the issue. The issue is: how do we integrated into workflow mand how do we can pi violating star los blah blah blah right yeah? So we justkind of forgot all that just said: let's just put it in, let's just seewhat happens, and we did that and with some some guide rails, but not many.It's just like here play with it and you know we'll touch base with you nowand then and see what happens and both sites in boston. Almost to the day,simultaneously came back to us and said: don't ever think about taking thisproduct pilot is not ending, but that it was a matter of a unique phenomenon. Came out of this,which is also, i think, a side effect of the pandemic is that actions arewilling to pay out a pocket now for convenience items and things that, likethis, when the surgeon says, hey look, you've had a fracture or i'm concernedabout your bone health. I just took an x ray of your hand for some otherreason. In thirty seconds i can tell you what what your teeth score is andand really like to know, because i think it's important to you and i ithat out of pocket and then boom i mean, and you know it's not universal, youknow, but it emit sees them the hassle of going to get a dexa scan. I meanwe're not trying to eliminate dexo. Let's put that on the table. What ithink we're trying to do here is find patients that would never get to adexia r that really should hand and push them towards that ultimate. Youknow secondary con confirmatory test yeah. However, our sight in boston isnow saying i'm never sending patients to tex again, so you got that, but i think that we're in a pretty goodposition now we're getting pulled like today. Like i told you, i'm meetingwith a surging here, locally who's heard about us wants to do this, andthe model that we're exploring right now is a revenue share with worth petedpractices so that they can actually find new sources of revenue by offeringthe service as well. So it is now. How is that being work? How are younavigating that with so many, so many practices being owned byhospital systems, for are you targeting the private practices specifically forthat revenue share model? I think that's where we'll get the fastest takeup on it? Ah, but honestly, we're seeing even at our big sites academicsites, they're willing to they're willing to do that. They like this idea,they think it's that important. You know before the pandemic. Most of thosesites would have set out to hassle it them want to deal with that. I think, after the pandemic, even largeacademic centers realized that the vulnerabilities of the fefer servicemodel and health care is got them. Rethinking a lot of things i as far asrevenue, sources and and such, and you...

...know we started out thinking. Oh, wegot to get a cept, got to get a cept cut. You know, where kind of not sosure about that anymore, because it's kind of a race to the bottom onpricing, and we think that this is valuable enough and important enoughthat there's revenue there out of pocket and and also some of the othercapabilities we have- are to be able to go into existing data stats of x raysin a hospital or clinic or whatever, and go through three years of x raysand come out with a population health profile of osteoporosis based ondigital ex ray patiens, they've, already seen so yeah. So so part of what i see sinceyou navigating is, you know characteristically when you're bringinga revolutionary or novel innovation to market there're, certain strategicdecisions that just make sense right and when you're thinking about yourpricing strategy. There's typically, a substantial amount of rnd that's goneinto the development of this and so you're charging a premium for that inthe beginning. There's nothing else in the market right. Why not? You can imean not gouging people, but you know you're, recouping those cost up front,so you're charging a premium and if you go to the traditional route with a cpcode, you're completely eliminating that opportunity to be able to chargethat premium price that you would normally for a revolutionary novelsolution. That's right- and you know you hit the nail on the head and but what we're looking at is a volumebusiness here and now in the process of finishing offdistribution agreements that give us global reach right, and this is a huge,huge problem in the world. So we think we're going to have a lot offlexibility on pricing based on volume. That's one theory. We don't know yetyeah, but that's what we're thinking but yeah you're right! It's interesting! You know it's a bitof a difficult story to tell initially, butonce the connections are made, the willingness to pay a premium comes tothe front pretty quickly because they understand how timely this is, howaccurate it is and and their ability to intervene to prevent a devastating andcostly fracture for payers for ids. Everybody involved, especially the patient, is becomingother some real awareness, starting to open up now, as we're seeing in some ofthe communications from the national laity of process foundation, and thingslike that are we're starting to get on to this idea that there are othertechnologies out there. That could really help this problem. Let startlooking at these and embracing them. So very i am tv market right. I mean yeahthey're, definitely for volume or were an you know at some point, but you'vegot those early adopters that see that by that see the vision and want it, because no one else has won it,because they know that it's going to...

...make a difference for their patientsand a really willing to pay that premium. So so, as you kind of just go back tothe pilot, so you're talking a lot about serendipity, but if you just lookback in hindsight, is there anything lessons learned or any recommendationsor guidance that you would have for other in innovators that are in thetrenches that maybe aren't experiencing some of that serendipity? What are someof the things that you think that they need to do to navigate that pilotprocess or plain up front to make sure that they benefit and and the utmostopt them away? Well, i think it's real recognition of how hard it is. I meanyou know it's a steep hill. You know you got to convince them to do it andsince it's an it play you've got to deal with. You know, there's that laterhospital, you know system and it you got to get through. You know you haveto be realistic, i think about the timeline and what you really want toget out and set attainable goals that are not. You know, out of reach orcrazy. I mean stretch goals and a pilot, i think are are a recipe for disaster.In my mit, so it's just you know doctor. We just want you to do this and- andyou know, that's a success and and when you reach that mile still then let's goto the next one and so kind of doing it a little bit incrementally the way wedid it and having the patience, and you know in our case we were lucky. We hadthe ability to have the patients from time. You know yeah, but you know it also, very interestingly enough. The time was forced upon us due ofpandemic, but it allowed us to pivot and think really hard about all ofthese things relative to the pilots of being realistic- and you know, littleincremental successes are big successes. They translate into big successes downthe road, yeah yeah, absolutely hey! It's dr roxy, here with a quick breakfrom the conversation. Are you trying to figure out what moves you need tomake to survive and thrive in the new co vid economy? I want every healthinnovator to find their most viable and profitable pivot strategy, which is whyi created the co. Vid proof, your business pivot kit, the pivot kit, is astep by step framework that helps you find your best pivot strategies. Itwalks you through six categories. You need to examine for a three hundred andsixty degree view of your business. I call them the six critical pivot lenses,as you make your way through this comprehensive kit, you'll be armed withthe tools, tips and strategies you need to make sure you can pivot with speedwithout missing out on critical details and opportunities, learn more at legacy.Hyphen daco backs kit, so you you guys just made anannouncement not too long ago about a...

...partnership around distribution. Solet's talk about your distribution strategy and how that is helping youscale faster and it seems like it's a really earlydecision to make and- and i imagine that that's because you're being shotout at a cannon yeah, there's that so our first real distributionannouncement that i can that, i can say publicly- is oxos medical yeah, whichis a red hot little start up out of atlanta great team. That's come up witha a portable x, ray device and held it's got a plate and a handheld thingthat you click and point at that and pick a handcray right now. I think it's only cleared for use in the upper extremity,but it brings portability to this issue of you know. Right now, our systemworks on any installed x, a system in the world. We can do it anywhere, install it in topacks behind the fire, while at the hospital is the way it kind of works.Right now with this allows us to contain erize it and imbedit on the machine itself, so we don't have to. We can bypass a hospitalnetwork or, if there's unstable, wifi, we don't have to have a directconnection to the cloud in order for it to work,and so that opens up a whole new realm ofpossibilities of delivering this in an asc, ambletsurgery center, an north peda clinic and an easy way. You know another pieceof antery equipment, that's just sitting in the corner of the exam room,but what we're really most excited about is deploying this into communitycenters, nursing homes, wellness clinics, retail clinics and that sortof thing. I really opens up some really big possibilities for this technology. So so it sounds like your part of yourgodomar et strategies, this distribution path, so you're just make sure i got it right. Soyou're going director consumer you're also going direct to the practice andthen you've also got channel partner strategy in place. Yeah, i don't have.The other part of our channel partner strategy is through established. Globalplayers like centra that have two thousand packs installations were like,so we're talking to them about. Why? Notthat's g, you know it's smart well, they've got experience with thistechnology and they know it better than anyone. So you know and they're very excited aboutthis development. They they want this technology just succeed and get intothe market and they're doing everything they can to help us. Do that and that'sopening up their channels to us is one major strategy and it literallyshooting us out of a canon. This puts a rocket on our rear end as well, and youknow so off. We go right, yeah, yeah, yeah, so we've had some conversationsabout the story and you know...

...coming from such a strong marketingbackground. You know i totally value the power of storytelling in the rolethat that plays in commercialization, even though it's maybe a bit softerthan the hardcore sales plan, but help us understand what are some of thethings that maybe you're facing as your crafting and telling the story aroundosteoporosis, the mainstream market versus early adopters and and maybebeing forced to educate the market, not necessarily about the problem, butabout this revoluton revolutionary solution. That's available to them.It's interesting that you put it that way, because the technology spells byitself once the connections are made and it's making those connections thatare hard. The like bold moment, yeah lifeful moment and the end the realchallenge in not only in the united states in europe to we saw the samething in europe. There's no one specialty that owns ostel process.That's the problem right! It's a a it's an orphan disease that you know as a result, because it is,you know, patients. Seventy five percent of the of patients that are atrisk have no idea, and that's largely because nobody has ownership with thisright. So how do you get these patients to where they need to go? If nobodyowns it right? So that's that's! Really the challenge and what we think we'reabout to do is catalyzed a clear clinical pathway enhanced by atechnology that will catalyze ownership and right now is in various centersfracture lies on services that are the catch. All of patients that have had afracture are flag and sent to these internal groups that coordinate amongstmultiple specialties and functions within a hospital or what a treatmentteam. What we like to do is think of this as a pre fracture lies onopportunity and that that i'm waiting for people to fracture we're able tofind them and catalyze them, and we think a couple of different things aregoing to drive that one were able to generate revenues for that institution.By doing this right and so ho, you know, what's a a huge issue: yeah it's a hugeissue and then you know, as you process patience today, fall through every single, conceivablegap and care. You can think of right, and so we are really focused on closingthose gaps and we think that this technology will help catalyze ourability to do that. And so that's the real challenge. It's you know, nobodyowns it. I mean worth the surgeons know that this is a problem. They have alarge effort within the earth community forseveral years now called own the bone. Where you know, we really need to do abetter job of finding these patients, but they're not incentivized to treatthem right and yeah, and if they don't find them, they can't refer them. What we're finding is that there's areal strong willingness to find these patients if it's an automated way bythe way, this all works selous in the...

...workflow, it's out o, they don't haveto do anything and they find these spaces. They go. Oh, mrs jones, here'syour tea score, i'm sending you back to your pc or an i'm, sending you to myend of cronological, ing down the hall. You really need to be looked at and wethink that that alone is going to change the curve on this this disease.So that's you know it is a challenge because of you know underlying all this.Nobody owns this disease. All right to be stands sounds like not. Maybe as much as the story is, theissue is just the target market and kind of how that point of awareness that point ofcreating demand and identifying that most ideal point to be able to drive that right,and i think you know yeah and one thing we're seeing- is that you know patientswhen they're educated are motivated. You've got ossioro, ess right and boomthey suddenly take charge of. This is a lot of, and then let's face it, this you know postmenopausal. Women are theones that suffer from this, the most and and there's a lot of women outthere who want to keep active and they don't want to break a hip, is now atits all ye who does right so just having that piece of information in atimely way given to them by their health care. Professional is gamcha asfar as i disease is concerned, and that's that's kind of what we're seeingin our pilots and that's what we're you know. That's what that's the betreplacing honestly m. All kinds of marketing campaigns arecoming to mine. That's really interesting! Yeah! You know you almost have theopportunity to kind of create the susan norman of breast cancer are around thisfrom a from a consumer standpoint. You know at one point that didn't evenhappen. There was no wareness, no demand and then all of a sudden youknow that's just steam rolled into something. That's ayou know: global phenomenon, yeah. We thought of that and again coming backto practicality, you have to start at the entry point where these patientsare discovered in north of kilak, so otherwise it's very costly right rightright. You know you can have big. You got to have a big vision yeah, but youhave to have tactical steps to get to that vision, and so i agree with youcompletely that this technology could play an important role in a rate raising awareness overall great. I wantto get there, but right now, it's like we got to plant that point to the spireand start getting getting some use cases in some. You know some proof ofconcept of the model so which i'm very, very, very confident in now. I it'sreally great so yeah, but you know again, if there's any lesson in all of this.For me, it's really incremental steps.

Serendipity plays a big role and whenit happens, just go with it and you know small successes become bigsuccesses later on. I think that's really the issue. Okay. So the lastquestion that i have for you before we wrap up here s just about funding, sojust kind of describe your funding journey. Some of the challenges thatyou faced, where you are now and any advice that you also have justregarding the fund for our audience. Well we're kind of in a lot of fun init. I hate raising me. You know everybody wants to focus onbuilding the business, but it's not so o we're raising an eight million seriesa and we're leveraging that off of a five million dollar r and investmentthat sector had already made in the technology. So, as you know, we're nota traditional start up, we have a. We have a c mark five tk clear, but a la,so we hired an outside banker to help us us together and so we're goingthrough the process of. We have plenty of investors. What we're doing is being veryselective about who the lead investor is and because we want something,someone strategic someone who shares the vision, a someone who gets it andthat's just not just a blank check, and you know that sort of thing, but a real. You know it's. Not all money is goodmoney and we've gone through all that too, and so we've been very you know.Fortunately, you know i've been able to find most of this myself and as we'regoing through the process, and i did that intentionally because i wanted tohold it back until we felt until i felt like we had what we needed to go outand raise money. I will say, though we were about to raise money march of last year right in thepandemic and so ora yeah we pulled back. Ithought it was going to be like two thousand eight all over again. I wascompletely wrong about that right, right on thing kept going, but you knowwe started thinking about it going. You know: okay, let's let's, let's pit it,you know and we've done a series of pivots, but the amplitude of the pivotsare getting smaller, but you know we intentionally did that because we could-and so now, when we decided to relaunch our campaign, we were in a really strong position todo that and increasing our value, so we're very, very confident we're comingdown the wire here, but you know we have the benefit of being selective, soi'm doing that as well. Okay, excellent, so anything else that you want to sharewith our audience. You know you are a serial entrepreneur. You know you'vegot so much experience even beyond what you're doing today, as you kind of lookback at that journey. Is there any advice that you have for otherentrepreneurs that are in the market that maybe this is their first time,maybe they're an engineer or a clinician and never really even built abusiness before? Is there any? You know...

...two or three takeaways that you wouldsay hey. You know be aware of this or mindful of this you know. I somebodyasked me this question. A couple weeks ago, at a major major medical institution, a venture amof a major medical, yeah yeah, a young kid who wanted to start his own companyand do all that you know. I love that i love helping young. Did you tell i runto do something else? No, no. What i said was, i said to him, was believe in the vision, but what i do? I have a lot of people approach me all the time.Looking at new technologies, i say your job early on is to find the fatal flatand kill it right. Mind the fatal, flaw and kill it, because you don't want towaste five years of your life chasing something that's going to run into abrick wall later on that you aren't even aware of young people like to getthey get enamored with their technologies. They, you know, they seestars in their eyes, yes, and that what this is about right when you run intoreal investors, that's not what they care about right, yeah. So you have toyou, have to mold yourself to the market that you're going into and beready to pull the plug. If you find the fatal flaw and recognize it when yousee it because you're going to waste a lot of your life on this, if you don'tright, so how do you detach yourself from that? Is there a a you've gonethrough where you're kind of you know a little bit more detached from that flawthat you identify that you might have held on to in previous versions of yourcareer? Well, it comes with experience. You know, i've been i've had morefailures than successes. Let's just put it that way. Right haven't we askthat's part of the dribe told that's part of the journey. If you'reyoung have a good sense to get seasoned advisers around you, that will tell youthe truth right and but when you're older half season advices around you that iwill to tell him it's nothing changes where that'sconcerned. You really need to find people who can help you that have therelevant experience and- and you know, can can really guide you in that andlisten to people. Don't you know, i know it's hard to do, becauseentrepreneurs are generally optimistic people. They see big visions, theirblue sky people. You know they want to make them want to help people. Theywant to do things, but you also have to have a good sense to know when enoughis enough and but on the other side of it you know that can wear you down,which it did for me until this came along, and you also have to have thegood sense to be able to recognize a good thing when you see it and and jumpin with both feet and sometimes just not think about it, just do it. This was one of those uniqueopportunities that an just you know. You know loud speaker, just blaring atme saying you know, you've got to do this one. So you like that's what happened. Yeah,it's your legacy, and i really i really wasn't joking. You know i talk aboutthis statistic. All the time that...

...ninety five percent of innovations thatare brought to market fail, you know- and these are not bad technology- theseare amazing things that go the coming. I don't get in the hands of the peoplethat need them the most so to be part of that five percent. That succeeds andreally leave your mark on the world and know that you're changing quality oflife or maybe even saving lives is just so incredible. I mean it just puts somuch more purpose behind the work that we do and just our lives now. That'swhy we do it right and you know yeah great. We want to do well. We want tosupport our families and do all that. But you know if there really is alarger mission here, that's driving me and my team o viso, but if you don'thave that core philosophy of trying to do something good for the world, you'll,never succeed in anything else right, you know, so it really does have to beat the core of the mission of the company which it is for us for us to pi,yeah, absolutely so. Pete, how can tokes get a hold of you if any anyoneto speak with you after the show go to my linton page? We also have lincolnpage apai on linkedin. They can email me at pt, bianco at ostia, dot, ai andi'm pretty responsive on email. I always open to networking and talkingto entrepreneurs that are going through similar things. I i lean on a lot ofother people in my entrepreneurial network and i'm happy to help people dothat as well as they're, going down the path of trying to figure out how to gettheir products launched or whatever the issue is that they're going a if i canhelp i'm more than happy to sorry fack. Thank you so much for spending timewith us today, sharing your journey and all of the great wisdom and insight,frank, dacor roxy. This has been a lot of fun. I really appreciate it. Thankyou so much for listening. I know you're busy working to bring your lifechanging innovation to market, and i value your time and attention to getthe latest episodes on your mobile device automatically subscribe to theshow on your favorite podcast ap, like apple podcast, spotify and stitcher.Thank you for listening, and i appreciate every one who shared theshow with friends and colleagues, see you on the next episode of healthinnovator, a.

In-Stream Audio Search


Search across all episodes within this podcast

Episodes (107)