E20: Martin Shkreli on Public Vilification, Lessons from Prison, and Getting Back in the Arena

Biotech founder and investor Martin Shkreli joins Erik Torenberg and his co-host Jesse Genet on In The Arena podcast to dissect his controversies and crises through the lens of leadership. Martin goes deep into the leadership decisions and regulatory environment that led to him serving time in prison, the lessons he took away about tech and founding startups, and how he believes there is a hero’s journey arc up ahead. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/upstream

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Every week investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Subscribe to “The Riff” with Byrne Hobart and Erik Torenberg: https://link.chtbl.com/theriff

TIMESTAMPS:

(00:00) Episode Preview

(01:52) Reliving Martin's most stressful moment

(06:09) How the lawsuit impacted Martin's team

(09:52) How the government handled Shkreli’s case

(11:22) The day Martin was taken by authorities

(14:28) Sponsor: NetSuite

(19:10) Hedge funds’ relationships with the law compared with venture

(25:57) The price hike and pharma industry norms

(32:22) Explanation of charges

(41:15) The new CEO

(44:36) New trope of private equity pharma

(48:57) The demise of trust in the media and Pharma Bro

(57:11) Regrets and anger

(59:45) The epidemic of criminal injustice

(01:02:58) Being sued by the FTC under the Sherman Act (monopoly law)

(01:06:03) Shkreli and Silicon Valley

(01:08:31) Entrepreneurship post-indictment

(01:15:40) Martin’s time in prison

(01:21:48) Martin reflects on being a repeat founder, and where his passions lie now.

X / TWITTER:

@wagieeacc (Martin)

@jessegenet (Jesse)

@eriktorenberg (Erik)

@inthearena_pod

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