Title: What My Latest IVF Consultation Taught Me About Compassionate Investing
Last Tuesday, I found myself in a familiar setting, the comforting yet charged atmosphere of my IVF clinic. The air was thick with a blend of hope and anxiety, a mix I’m intimately familiar with. As I prepared for another day of consultations, I had no inkling that an unexpected conversation with a patient would offer profound insights into my other passion—angel investing.
The patient, a resilient woman in her late thirties, had endured multiple rounds of IVF, each unsuccessful attempt leaving its mark. Her journey had been fraught with physical, emotional, and financial challenges. Yet, as she sat across from me, her demeanor was one of quiet determination. She spoke with candor about her setbacks, her undeterred resolve to try once more, and I couldn’t help but draw parallels between her journey and the path of an entrepreneur.
As an angel investor, my decisions are often influenced by my experiences as an IVF specialist. It might sound surprising, but the two fields have more in common than one might think. Both demand resilience in the face of daunting odds. In IVF, success rates vary widely, influenced by a myriad of factors. Similarly, startups are notorious for their high failure rates, with many ventures never reaching their full potential despite the best intentions and tireless efforts.
What struck me most about this patient was her resilience. It mirrored the kind of grit I seek in founders. The ability to persist despite adversity, to continue moving forward when the odds seem insurmountable—this is the essence of both successful IVF journeys and entrepreneurial ventures. This encounter prompted me to reflect on what truly drives my investment decisions. Often, we get entangled in metrics and projections, but what truly matters is the human element. Just as each patient in my clinic has a unique story, every startup founder brings their own narrative to the table. Numbers are important, but they’re only part of the picture.
In my experience, the best investments are those that resonate on a personal level. They are not just about the product or service, but about the person behind it. This is a lesson I’ve carried from my medical practice into my investing: the importance of intuition and recognizing resilience as a key indicator of potential success. It’s something I’ve written about before in Why I Trust a Gut Feeling Over Algorithms in Both IVF and Investment Decisions.
This realization has tangible implications for how I evaluate potential investments. It shifts the focus from financial metrics alone to a broader assessment of character and perseverance. It also underscores the importance of empathy, of understanding the journey that each founder is on. In both IVF and investing, it’s not just about the end result but about the journey. The struggles, the setbacks, and the small victories along the way make the eventual success so rewarding. This is why I advocate for a more humane approach in both fields, one that values the individual story and recognizes the unique challenges each person faces.
Consider the statistics: in IVF, success rates can be as low as 30-40% per cycle, depending on various factors. In the startup world, roughly 90% of startups fail. Yet, in both arenas, the journey is what defines the outcome. It’s about persistence, learning from failures, and the relentless pursuit of a dream. This encounter with my patient reaffirmed that resilience is a universal currency. Whether you’re a patient hoping for a miracle or a founder seeking to change the world, the ability to persist despite adversity sets you apart. It’s what makes the journey worthwhile, regardless of the outcome.
As I continue to navigate the worlds of IVF and angel investing, I remain committed to looking beyond the numbers. I will seek out those stories of resilience, those individuals who inspire with their determination and grit. Because, in the end, it’s the human spirit that drives true innovation and success. Sometimes, it’s the quiet strength of a patient in a clinic that can inspire an investment decision, reminding me of the interconnectedness of all the roles I play.
This experience also prompts me to consider the broader implications for the systems we operate within. Just as the healthcare system must recognize each patient’s unique narrative, the investment ecosystem should do the same for founders. It’s a perspective that I believe is crucial for fostering both medical and entrepreneurial innovation.
In both spaces, we must champion those who persevere, who defy the odds, and who continue to pursue their dreams with unwavering resolve. It’s a lesson that transcends industries and speaks to a deeper truth about human potential. And it’s one that I am grateful to have been reminded of by a remarkable patient on an otherwise ordinary day at the clinic.
Reflecting on this, I am reminded of the importance of empathy and understanding in both medicine and investing. As doctors, we are trained to be compassionate and supportive, skills that are particularly useful when counseling entrepreneurs during difficult times or after a startup failure. We can help them navigate the emotional rollercoaster of entrepreneurship, much like we support IVF patients through their ups and downs. For more on this, you might find it enlightening to read How Investing Taught Me to Listen Better in the IVF Consultation Room.
It’s important to remember that most IVF cycles and startups will fail, despite advanced technology, the best care, hard work, good intention, and high-quality embryos. As an IVF doctor who helps his patients deal regularly with the bitter reality of IVF failure, this experience enables me to be more supportive as an angel investor as well.
Lastly, I must mention the “magic sauce”—my wife, Dr. Anjali Malpani. She is an exceptional IVF doctor who runs the clinic while I balance taking care of my patients with angel investing. This partnership allows me to excel both as an investor and a compassionate physician—truly a blessing in my life.
While the paths of IVF and entrepreneurship may seem worlds apart, they share a common thread of resilience, determination, and the pursuit of dreams against all odds. This is the cornerstone of my approach, both as a doctor and as an investor. It’s about recognizing the human element, valuing the journey, and championing those who continue to strive for their dreams with unwavering resolve.