RP Management, LLC

Is

this what Royalty Pharma does?

Roy Vant.

But is this also what Royalty Pharma does? They'll come in? Yeah,

Royalty's a bit of a different player.

Genius guys, obviously.

It's a great way to make a billion dollars.

It's, uh- Is this what Royalty Pharma does? Royven.

Uh, but is, is this also what Royalty Pharma does? They'll come in- Yeah, Royalty's a bit of a different player.

Genius guys, obviously.

They, they, their big claim to fame was they went to NYU.

He co-founded Bond Street and sold it to Goldman Sachs, helped open A16Z's New York office, and people call him the most connected VC in New York.

He started at Royalty Pharma, a company with about 50 employees and a $25 billion market cap.

Today, I walk with David to talk about what he looks for in founders, why he'd rather back the missionary than the mercenary, and the firmer of funds thesis behind how he invests.

This is The Lyuba Show.

[laughs]

Yeah.

Started this very large, uh, essentially private equity business called Royalty Pharma, which, uh, has become the largest buyers of pharmaceutical royalties in the world.

Um, and it, it, you know, maybe it's not the biggest business in the world, but it's one of the best because I think they have 50 employees with a $25 billion market cap.

Quintessential entrepreneur right there.

And then started this giant, effectively private equity firm called Royalty Pharma, which has become the largest buyer of pharmaceutical royalties in the world.

And he sort of invented this asset class in the mid 90s.

But talk about a firm over fund.

Royalty Pharma is now a publicly traded company.

It has, I think, something like 50 to 100 employees and a $25 billion market cap.

I literally don't know any other business on the planet that has more market cap per person.

than Royalty Pharma.