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Masters of Scale

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

Masters of Scale

WaitWhat

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

4.64.4K Ratings

🗓️ 24 May 2022

⏱️ 38 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, it's Bob Safian. You've been hearing me as the host of rapid response in this feed for a few years now,

0:07.8

with short newsy interviews alongside the deeper dives of Masters of Scale. Well, I'm excited to share that rapid response is expanding into its own feed.

0:17.0

We'll be putting out shows twice a week, focusing on the urgent issues that business leaders are dealing with in real time.

0:24.7

So search for rapid response in your podcast player

0:28.0

and subscribe to make sure you get all our episodes.

0:31.2

I'll see you on the other side.

0:33.8

It's like going to Vegas, you know.

0:38.8

If you are lucky, you win the lottery.

0:41.8

If you're not, then you have zero and so because I'm not a gambler personally

0:48.6

I'm like yeah no thank you no thank you it has 5% chance are working, but if it's changed, it's going to change the world forever.

0:55.2

For every human being on the planet forever. Not in five or ten others forever.

0:58.8

And in business, forever is a pretty good time frame. That's Stefan Bonsel, CEO of Moderna, and he's talking about a much bigger gamble than throwing a few dollars at the crap tables in Vegas.

1:16.0

The risk he's describing is the one he took when he accepted his current job and agreed to try against the odds to develop a vaccine based on MRNA.

1:26.2

He was recruited to Moderna by Newbar Uphian from VC firm flagship pioneering.

1:31.8

He approached Stephan with his tantalizing possibility in 2011.

1:35.4

Here's how he pulled Stefan in.

1:38.0

And we were contacted me, is like, come over, I have something crazy to show you.

1:45.0

So I go to flagship's office one night, and he has one piece of paper on his desk as I walk in.

1:57.0

And he's like, take a look.

1:59.0

And so I look at it and I totally meet him possible.

2:02.0

Cefan's disbelief was well. And so I look at this and it's impossible.

2:03.3

Cefan's disbelief was well founded.

...

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