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The Indicator from Planet Money

Replacing the cult of the entrepreneur

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 14 April 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

The development of the Moderna vaccine was the culmination of decades of scientific research. This research was able to flourish thanks in large part to Flagship Pioneering and its founder, Noubar Afeyan. Today, the innovative way Flagship created one of the most successful COVID-19 vaccine makers in the world.

Transcript

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0:00.0

NPR.

0:07.0

When Nubar Afein got out of grad school in the 1980s, he started his first company.

0:17.2

And before long, he realized that people thought about entrepreneurship in almost mythical

0:21.8

terms.

0:23.8

It was this kind of mystical activity.

0:26.5

And you had certain personalities that were able to raise money and create teams.

0:35.8

But over time, as he learned more about how businesses really work, he started to doubt

0:40.7

the cult of the entrepreneur.

0:42.7

There's a lot of kind of almost a romantic side to it.

0:47.4

There is chaos.

0:50.0

And there is this struggle to survive.

0:52.9

One thing you don't hear so much about in the entrepreneurship stories, actually making

0:57.6

a thing, actually creating a product.

1:00.2

This kind of thinking made Nubar want to try something different.

1:03.4

He imagined a company that would stand in direct opposition to the cult of the entrepreneur.

1:08.6

So 20 years ago, he started a company that starts other companies.

1:12.8

The company he started is called Flagship Pioneering.

1:15.8

And it has created dozens of companies, including most famously, Moderna.

1:20.8

The company that has made one of the most effective COVID vaccines in the world.

1:26.2

This is the indicator from Planet Money.

1:27.7

I'm Whalen Wong.

1:28.9

And I'm Jacob Goldstein.

...

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