Jonathan Lim shares his transition from a surgeon to a biotech entrepreneur, highlighting his journey through various roles, including his time at McKenzie and his leadership at Halozyme. He emphasizes the importance of adaptability and innovation, particularly in the biotech industry, where he has led multiple successful ventures. Lim discusses Arasa's mission to combat cancer, focusing on RAS-driven cancers and the progress in cancer therapies. He also draws parallels between the biotech and film industries, noting the long development times and the need for a portfolio approach to manage risks. Lim's venture into filmmaking with City Hill Arts aims to create inspiring stories that unite people, showcasing his diverse interests and commitment to impactful storytelling.

The discussion focuses on the growing importance of secondary markets as a means for private companies to provide liquidity without going public. Jared Carmel, a secondary market expert, explains that the slow IPO market has led to an increase in secondary transactions, allowing companies to stay private longer. This trend is supported by platforms like EquityZen and Forge Global, which aim to democratize access to private investments. However, Carmel warns of the risks involved, particularly for retail investors who may lack the necessary information to make informed decisions. He emphasizes the need for institutional-grade infrastructure to support this evolving market. Carmel also highlights the challenges faced by companies and investors in the secondary market, such as the complexity of deal terms and the lack of transparency. He notes that while secondary markets offer a pressure relief valve for companies, they also pose risks due to information asymmetry and the potential for retail investors to be misled by hype. The conversation touches on the potential for secondary markets to become a major component of private market finance, especially as the number of unicorns grows and IPOs remain scarce.

The event, hosted by Better Tomorrow Ventures and Greylock, focuses on the intersection of AI and financial services. It features founders from companies like Rogo, Foundation, and Basis, who are leveraging AI to transform financial services. Rogo aims to create human-level AI analysts for Wall Street, Foundation uses AI to automate insurance processes, and Basis provides AI agents to assist accountants. The discussion highlights the challenges and opportunities in building AI products, emphasizing the importance of creating value beyond just useful products. The founders discuss the need for deep integration with clients, the evolving role of AI in automating complex tasks, and the importance of building strong teams with diverse skills. They also touch on the future of AI in fintech, predicting significant changes in job roles and the emergence of high-leverage companies with small teams. The conversation underscores the need for adaptability and strategic thinking in leveraging AI effectively.

The speaker emphasizes that their success in sales is not due to traditional sales techniques but rather an intense focus on understanding and meeting customer needs. This approach is evident in their interactions with both startups and large enterprises, where the personal touch and genuine concern for customer satisfaction stand out. A notable example is a Fortune 10 customer who chose their product not because it was the most feature-rich but because of the founders' commitment to addressing issues promptly. This dedication to customer service creates a positive feedback loop, where customers become more invested in the product because they feel valued and heard.