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Masters of Scale

110. Extraordinary leaps need solid foundations, part 1, w/Moderna CEO Stéphane Bancel

Masters of Scale

WaitWhat

Entrepreneurship, Business, Management, Reid Hoffman, Mindset, Diversity & Inclusion, Jeff Berman, Bob Safian, Startups

4.64.4K Ratings

🗓️ 24 May 2022

⏱️ 40 minutes

🧾️ Download transcript

Summary

If you're launching a moonshot, success depends on how you manage the trajectory of risk. When Stéphane Bancel became Moderna's first CEO, the biotech start-up was chasing a way-out idea many experts thought was impossible. Stéphane built a culture of calculated risk-taking to create a platform for extraordinary leaps — one that enabled life-saving mRNA vaccines when Covid-19 struck.

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Transcript

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0:00.0

Hi listeners, it's Reed. If you've ever felt stuck, if you can't get out of a rut or

0:05.1

over a hurdle, well, you're in good company. Every entrepreneur I've spoken to on Master's

0:10.1

scale has faced that moment at some point in their career. And so have most of the world's

0:15.9

greatest artists and creators. In fact, anyone who has ever tried to bring a bold, new

0:21.3

vision of life can probably relate. That's why I want to recommend another podcast that

0:27.1

will help you break out of the mold and cultivate a creative mindset. It's called Spark and Fire,

0:34.0

and it's produced by the same award-winning team that's behind Master's scale. Spark and Fire

0:39.1

is designed to fuel your creativity and innovation with epic stories and memorable takeaways from

0:45.2

creators at the top of their game. So take a quick moment right now to search for Spark and Fire

0:51.6

in your podcast player and follow the show. I've gotten a sneak peek in the sound of their upcoming

0:57.2

episodes and trust me, you won't want to miss what's in store. Is that going to be a gas, you know?

1:07.8

If you are lucky, you win the lottery. If you're not, then you have zero.

1:13.3

And so because I'm not a gambler personally, I'm like, yeah, no, thank you, no, thank you.

1:19.2

It has five percent chance of working, but if it changes, it's going to change the world forever,

1:23.7

for every human being on the planet, forever, not in fiber, it's forever. And in business,

1:28.4

forever is a pretty good time frame.

1:36.9

That Stefan Boncel, CEO of Moderna, and he's talking about a much bigger gamble than throwing

1:41.7

a few dollars at the crap tables in Vegas. The risk he's describing is the one he took when

1:47.1

he accepted his current job and agreed to try against the odds to develop a vaccine based on

1:52.8

MRNA. He was recruited to Moderna by Newbar Afian from VC firm Flagship Pioneering. He approached

2:00.5

Stefan with this tantalizing possibility in 2011. Here's how he pulled Stefan in.

2:09.0

In Newbar Contact, I mean, it's like, come over, I have something crazy to show you.

...

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