Episode Details

In episode 72 of Hims House, Jonathan Stern interviews David Wells, Hims board member and former Netflix CFO, about his recent $1.2 million open-market purchase of Hims shares. Wells explains why he believes the company is at an inflection point after the Novo dispute and why the market may be missing the larger healthcare platform story. He discusses Hims’ mission, the broken cost and access structure of U.S. healthcare, and why he focuses more on longer-term cohorts and customer value than quarter-to-quarter CAC. The conversation covers the GLP-1 transition, peptides, acquisition pace, Andrew Dudum’s leadership, remote culture, AI, wearables, and what Hims can learn from Netflix’s disruption playbook. Wells also breaks down 10b5-1 insider selling plans, the promise of preventative scans, and why poor execution is the bear case that matters most.

00:00 - Sponsor: Superpower

01:07 - Meet David Wells

02:30 - Why he bought $1.2M in shares

05:58 - Building a mission-driven company

09:03 - Why he accepted the offer to join the board

10:45 - Financial metrics David is tracking

12:53 - Novo deal + GLP-1s

15:13 - Peptides: best, not first

19:45 - M&A and execution risk

20:40 - What CEO Andrew Dudum does well

22:30 - Remote impact on company culture

24:22 - AI, tech, and wearables

29:55 - Lessons from Netflix

36:17 - Insider sales 10b5-1 explained

45:37 - Short interest and the bear case

48:23 - Hims in 2030

Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.