The Raz Report – Stories of Inspiration

On this week’s The Raz Report, Jason Raznick speaks with Vivek Garipalli, CEO of Clover Health Investments CLOV +0%(Get Free Alerts for CLOV) on his career path that eventually led his company to go public via Chamath Palihapitiya’s IPOC SPAC.

From early on, Garipalli describes his most hated job as “one where I have an employer.” With the “itch to build something,” Garipalli drops out of college and sets out on a journey that leads him to learn to appreciate failed businesses and the business of medicine. So much so that at age 27, he buys a bankrupt hospital with “youthful naivety” as the only bidder and sets off on turning it around.

Born to doctor parents, Garipalli realizes from an early age the disastrous consequences saddling physicians with administrative duties can bring.

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Chef and Momofuku founder Dave Chang is joined by cofounder and CEO of Clover Health Vivek Garipalli to discuss how he overcame those who underestimated him (16:56), the power of taking risks when you’re young (20:12), and what he learned from buying a hospital and going into the health care business (36:07).

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Vivek Garipalli is co-founder and CEO of Clover Health, which uses data analysis and preventive care to provide better insurance at better prices for Medicare patients. He began his career in finance, and founded Ensemble Health Partners and CarePoint Health, as well as serving as Board Member and Advisor to Flatiron Health since inception, before launching Clover Health in 2014.

What is something you’ve learned that you lean on daily?

I’ve learned to take the long view. Building a business takes a lot of time, and things will go wrong. That’s just the way it is. You have to get used to those undulations and realize you can work through them if you stay focused on what you want to achieve.

Part of that is choosing a business model closely tied to your mission. It’s not just about doing good while making money; it’s about making money by doing good. When I started out as an entrepreneur, I was very focused on economics. Healthcare was a means to an end. But now I can’t imagine being the CEO of a business that doesn’t directly help people. Adding value to the world—that’s the most satisfying thing. It’s what allows you and your team to push through all those short-term challenges.

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