Michael Bankowski on Purpose, Entrepreneurship & the Future of Healthcare | Beyond Money

What happens when you realize that money isn't the only measure of a successful life? In the first episode of Beyond Money with Adam Cox, Adam sits down with longtime friend and entrepreneur Michael Bankowski to explore a career journey that took him from economics and financial advising to caregiving, healthcare entrepreneurship, and ultimately robotics and AI. Michael shares the experiences that changed his perspective on wealth, health, and purpose—including caring for his mother, losing his brother, and realizing that his calling was to help people regain independence and dignity. That mission eventually led him to create the concept for Rose, an assisted robotic walker designed to work alongside people with mobility limitations. Michael discusses how an idea born at a patient's bedside evolved into a patented technology, prototypes, federal grant efforts, collaborations with leading universities, and the formation of Prosperous Robotics. The conversation also goes beyond the business itself. Michael and Adam discuss: • Why Michael left a career in finance for healthcare • The life experiences that shaped his sense of purpose • How caregiving led to the idea for Rose • Building a company around a problem he experienced firsthand • Patents, prototypes, grants, and the challenges of medical innovation • Working with researchers and institutions including MIT • Why entrepreneurs need to understand their own strengths and weaknesses • The importance of mentors, advisors, and surrounding yourself with the right people • How Michael's relationship with risk has changed over time • Failure, resilience, gratitude, and the entrepreneurial journey • Why Michael believes health is a form of wealth • His vision for the future of healthcare robotics and human independence Beyond Money with Adam Cox explores the ideas, experiences, and perspectives that shape a meaningful life—not just a financially successful one. Subscribe for more conversations about money, entrepreneurship, purpose, health, investing, and what it really means to build a prosperous life. 00:00 – Intro: Meet Michael Bankowski 01:29 – From the Air Force Academy to Finance 05:18 – A Life-Changing Shift Toward Healthcare 07:30 – Learning Healthcare From the Ground Up 10:06 – Discovering a Better Way to Help Patients Recover 12:29 – 10,000 Hours of Caregiving 13:37 – The Patient Who Inspired Rose 16:05 – What Makes Rose Different From Other Robots 19:00 – Patenting the Idea 20:13 – Building a Healthcare Business Around Innovation 22:16 – From South Dakota to the World of Robotics 24:28 – The Pivot to LightRun 25:15 – A Call From MIT 26:38 – Michael's First Experience at MIT 28:15 – Finding the Right Technical Co-Founders 30:03 – Building the Team Behind Rose 32:38 – Why South Dakota? 34:05 – The Reality of Becoming an Entrepreneur 36:49 – Surviving the Highs and Lows 38:38 – Finding Gratitude in the Hard Times 40:47 – Mentorship, Relationships & Personal Growth 42:18 – Overcoming the Darker Chapters 43:13 – The Role of Inner Work and Faith 45:23 – How Michael's View of Risk Has Changed 47:00 – Michael's Vision for the Future 48:23 – Knowing Your Strengths as an Entrepreneur 49:32 – From One Rose to Millions 51:01 – Solving the Global Caregiving Crisis 52:05 – What Comes Next for Prosperous Robotics? 52:38 – The Basketball Story 55:28 – Closing Thoughts