The Man With The Midas Touch
Eric Lefkofsky is one of the world’s most successful businessmen. From his college days onward, just about every startup he creates or invests in has achieved success. Just taking a brief glance at some examples of his startups provides overwhelming evidence of his ingenuity. Groupon, founded in 2010, broke records and reached $1 billion in revenue faster than any other business in history. Similar success stories happened with Lightbank, Brandon Apparel, and so on.
Tackling Real World Issues
Lefkofsky’s entrepreneurship hasn’t blinded him to conditions of those with less than him. Philanthropic work is found throughout his career and he continues to support charitable causes as his fortune grows. Most of his philanthropy centers around the Lefkofsky Family Foundation. Working together with his wife, Lefkofsky uses the foundation to support charities across the world involved in just about every cause imaginable.
Some of the charities work to promote scientific research while others improve conditions in developing countries. The main focus of his charity is on improving the lives of children through better access to education and healthcare. Another area of philanthropy for Lefkofsky is the Giving Pledge. Like many other billionaires such as Bill Gates and Warren Buffet, Lefkofsky has pledged to use his wealth for the improvement of mankind. He has the ability to help others around him and he isn’t afraid to spend millions in the process.
Cancer Is In His Sight
Recently, Lefkofsky decided to merge his entrepreneurship with his philanthropy to start up a new company called Tempus. Centered around the idea of personalized medicine, Tempus uses the genetic profile of patients to come up with therapy plans tailored to each specific patient. With the DNA sequence of each patient in their databases, Tempus can determine exactly how each medication will affect the patient. Certain medications may have unwanted side effects or lower effectiveness depending on the patient’s genetic makeup, but other patients may have genes that work well with that particular plan. Personalized medicine is still in its infancy, but the work of Lefkofsky could bring it into the forefront.
The Future Of Medicine?
Eric Lefkofsky understands how to pick winners in the free market. He is taking this understanding and applying it to the practice of medicine. Medical startups, especially one dealing with something as specific as cancer, usually carry risks with them. However, his approach, using Big Data to find cures, may give us the breakthroughs needed to finally defeat cancer. As a billionaire, he is able to take these sort of risks without worrying because he can protect himself from the potential loss. A big reward always requires a big risk.