Extending human life, with Humanity Co-Founder and CEO Pete Ward

4 Apr 2023 · 59 min

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Podcast Summary: Secret Leaders - Episode with Pete Ward

Overview Podcast Title: Secret Leaders Episode Title: Extending Human Life, with Humanity Co-Founder and CEO Pete Ward Hosts: Dan Murray-Serter and Chris Donnelly Guest: Pete Ward, Co-Founder and CEO of Humanity Release Date: [Insert Date]

Episode Description In this episode, Pete Ward shares insights on his journey as an entrepreneur and the mission of his company, Humanity, which aims to slow down or even reverse aging using technology and personal health data.

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Key Themes and Discussions

  1. Mission of Humanity
  2. Goal: To use readily available technology to change perceptions about aging.
  3. Personalization: Humanity recognizes that health improvements cannot follow a one-size-fits-all strategy. Their app tracks individual nutrition, movement, and mind, allowing users to compare their data against global datasets for tailored health recommendations.
  1. Entrepreneurial Journey of Pete Ward
  2. Background:
  3. Co-founded WAYN.com, a successful social travel network, which was sold to lastminute.com in 2016.
  4. His entrepreneurial journey has been marked by both successes and failures, providing him with valuable insights.
  1. Mentorship
  2. Ward emphasizes the importance of mentorship throughout his life, from his first teacher to business mentors that guided him during critical decisions.
  1. Behavior Change
  2. Holy Grail of Health: The episode discusses the difficulty of changing human behavior in health, drawing a parallel to insights from Astro Teller, who believes that solving behavior change could transform health interventions.
  1. Challenges and Resilience
  2. Entrepreneurial Struggles: Ward shares personal experiences of nearing bankruptcy multiple times, illustrating the resilience required to navigate the entrepreneurial landscape.
  3. Lessons Learned: Importance of perseverance, being open to advice, and recognizing the leverage entrepreneurs have, even in tough situations.
  1. The Concept of Biological Age
  2. Definition: Biological age measures a person’s functional health and risk of disease, which can differ from chronological age (actual age).
  3. Health Interventions: The app aims to provide users insights into how lifestyle changes can impact their biological age.
  1. Data-Driven Health Solutions
  2. User Engagement: The app’s concept is similar to navigation tools like Waze, providing personalized health pathways based on user activity and biological data.
  3. Inclusivity: Humanity aims to make its services accessible to a broad audience, offering free access to essential health monitoring.
  1. Community and Social Connections
  2. Ward highlights research indicating that social connections significantly impact health outcomes, emphasizing the role of community in longevity.
  1. Advice for Aspiring Entrepreneurs
  2. Get Started: Encouragement to take the initiative and begin the entrepreneurial journey.
  3. Stay Curious: Approach challenges with a scientific mindset, viewing difficulties as experiments to learn from.

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Key Takeaways

  • Personalization in Health: There is no universal solution for health improvement; individual data is crucial.
  • Resilience in Entrepreneurship: Entrepreneurs often face near-failure situations but can learn and grow from these experiences.
  • Behavior Change is Critical: Understanding how to motivate health behavior change is essential for long-term success in health interventions.
  • Community Matters: Social connections can greatly influence health, highlighting the human aspect of well-being.

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Closing Thoughts This episode blends personal anecdotes from Pete Ward with broader themes on entrepreneurship, health, and the role of technology in enhancing human life. The discussion serves as an inspiration for both aspiring entrepreneurs and those interested in health innovation, underlining the importance of resilience, mentorship, and community engagement.

For more insights and to listen to the full episode, visit [Secret Leaders](https://www.secretleaders.com/episodes).

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Transcript

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0:05I remember when we met Astro Teller and he literally said to us almost like tongue in cheek we're wasting our time but also here's a bit of advice if you can crack behavior change then you have the holy grail of hell we tried to do it at google and we couldn't do it and so we made a point of going great that's really helpful we're going to crack behavior change

0:29meet pete ward co-founder and ceo of humanity now we've had some big thinking guests on the show but this time i'm speaking to someone who's trying to change the very nature of what it is to be human. Pete's company, Humanity, is on a mission to give people life. By embracing technology that's readily available to everyone, they say they found a way to slow down or even reverse the aging process. Pete's story is motivating. His experience of building success and failure has led to loads of useful insights which we're going to dive into today. Now, full disclosure, as I mentioned later in this episode, I am actually an investor in Humanity, but this is not sponsored content.

1:08I just think Pete is the kind of guy we can all learn from. Pete's been an entrepreneur for a while. Among other things, he was also the co-founder and CEO of Wayne.com, the larger social travel network for over 13 years. He sold it to lastminute.com in 2016. Something that's been very important for Pete throughout his life and career has been mentorship, which goes all the way back to childhood. If I were to chart it back, and everyone has a similar sort of inflection, I think I think my earliest mentor was was interestingly a teacher and and he just really mentored us in terms of like being able to you know believe in ourselves and do good things and so he helped us set up a tuck shop stroke video club which was I think illegal because we were showing recorded videos from the blockbusters of the time and and then charging kids to come into the classroom and then making money on the fun size Mars and Snickers or marathons as they probably were called at the time.

2:08And we did that on the basis that as long as we put the money back into the school, and actually we did that, we raised money for the first real computer, you know, not the kind of acorn computers that, you know, you can play Chuckie Egg on. And that was a really interesting experience because it just made me realize that, you know, you can just put a little bit of effort in and you can create something out of nothing. So fast forward to at uni, the first thing I did was set up the first entrepreneurship society at the university. And then through that, I actually received a fellowship to do entrepreneurship summer school at Cambridge University Judge School of Business.

2:39And that was great because it really made me feel like, oh, wow, this, you know, this is actually already starting to have an effect in that I'm starting to meet these really incredible entrepreneurs, seeing the future of technology and innovation. And so I kind of got, you know, drinking the Kool-Aid, I started to get a little bit addicted to this idea of learning entrepreneurship in and of itself. And so that carried forward to me doing entrepreneurship summer school at Sloan School of Business, MIT, which I got a fellowship for, and also London Business School, which I also got a fellowship in association with MIT.

3:11And I got Accenture to essentially part fund that for me as well, which was the graduate trainee job that I took after university. And so really what happened then is I took a year out traveling on my own, which of course is never on your own, and had a graduate trainee position waiting for me when I got back. And it was interesting because that was right at the time of the dot-com bubble bursting. And so a lot of people who were in my cohort, their jobs suddenly fell away. Thankfully, Accenture didn't cancel ours because I was already building up a huge debt pile. I think I was about£35 ,000 in debt by the time I got back from traveling.

3:46But I was a change person. And in that whole life experience of traveling, I saw my first idea, which was this travel social network because in those days people and this is literally showing my age down in those days people would say you know i'm scruffy beggars at yahoo.com you know let's keep in touch and you have these like life-changing experiences like hanging out with these people for you know days or weeks where they you feel like you know them immediately after a few hours because you're so unencumbered and vulnerable and the next thing you know i'm like scruffy beggars i have no idea who that is as soon as i got back i was already raring to go to go, right, I'm going to set up this first business.

4:25And I set it up in my spare time whilst taking my graduate job with Accenture. Totally. I mean, I do, I reflect on this a lot, but you're always basically just one idea or one person or one conversation away from having your entire life changed. Yeah, absolutely right. And I couldn't agree more based on my own life experience. And actually the things that probably have been most surprising in that sense is when you are less saying this is what I'm going to have happen rather you're open and present to the current situation and then somehow the this thing miraculously happens in front of you that takes you on that path and I think that actually happens a lot more than the very thing that I was seeking it's almost like the byproduct of just being open and present to you know what's in front of you 100 % you know if I think about how I started Heights I never wanted to start Heights it was never an inkling I never you've known me for years I never ever talked about this grand master plan to be in this category building this business or doing anything like this I just happen to have personal experiences and I lent into what I was learning from them and here I am so as long as you're open-minded and listening to what the universe is telling you yeah absolutely I think you have to show up and you know if you put yourself a little bit out of your comfort zone and just even if you don't fully know what to expect something will come from that and I definitely didn't go traveling with the intention of setting up a travel social network and i certainly didn't think right my next business is going to be a business focused on extending health span and longevity it was it was absolutely the opposite it was more that it came to me and i just immediately could see this is something that i really want to be part of and that and it so essentially it was a calling that then led me led me to lean in and say we should do this because i'm And, you know, I'm really excited by that idea.

6:11So listeners of a certain age might well know Wayne and might be really familiar because obviously it was a massive, massive global success back in the day pre Facebook. Right. So you were the original go viral business. So talk to us a little bit about for those that don't know what was Wayne and give us some of the highlights as well. Yeah. So we started Wayne. Where are you now? This is what it stands for. And in Arabic, it means where we didn't plan that. It was just what we were told. So we were quite big in the Middle East and that part of the world. But actually, it was two years of hard graft working weekends, evenings in London Business School, sort of seminar rooms, just trying to come up with this product.

6:50It was backed by the co-founder of Friends Reunited, Steve Pankhurst. And so he gave us the first, he actually gave us the first 10 ,000 and that was what we needed to get going. And we were super excited. It was right coinciding with my start, starting job with Accenture. So I was already sort of one foot out the door. And then we literally felt we had something that could be big, which was around this viral. And we asked Steve if he would lend us something really specific, like£27 ,000. And that's what he did. And we literally paid it back. And, you know, and then some because we reverse engineered viral marketing.

7:32It took us two years to get to 48 ,000 users. And then it took us literally a week to get 10 ,000 a day. So we went to a million in a matter of months. And actually, the real sort of hold on for dear life experience there was we didn't quite realize how fast viral growth can be when you're not expecting it. Because when we actually went viral, you know, this is back in the day where, you know, AWS cloud computing didn't exist. and it was that we had a we had a a good server ibm server in the data center that within a few days crashed and we were in the data center 4am calling up the the engineers to try and put it back live but they were saying well there's there's just no way we can this can handle that kind of level of traffic and we went we went from like zero to pretty much all of singapore being covered in a couple of days that's how fast it was going but we weren't making any money and this was way before we realized there was such a thing even though I did all these entrepreneurial summer school programs I didn't really think I need to raise money like venture capital money I was thinking how do we survive and how do we make money and so what we ended up doing which was probably one of the worst things I could have done at the time because I would have perhaps been a Mark Zuckerberg equivalent if I did something different but what we ended up deciding to do is let's turn the site off to every single country other than the UK and the US and make it chargeable via credit card because at least that way we know that the conversion to pay because in those days not many people were using credit cards to pay online it wasn't so secure and we went overnight from you know being you know not live to you know we're highly profitable and so within a year of that we we had you know six million users we we went to the venture catalysts and we we didn't need the money because we were profitable so it was a great place to be you know we were very much in control of our destiny.

9:25And we decided, and this was literally off the back of an envelope, okay, well, if we were to raise money, how much would we raise and why? And we said, well, a million quid each would be nice. So what's that in dollars? Well, at the moment, current exchange rate, that's like really two to one. So that's$2 million each. There's three co-founders. So that's 6 million. We should probably raise a bit more for the business too, because we could probably invest in some stuff. So let's round it up to 10. And then how much of the business do we want to give away? And we thought, well, you know, no more than 25%.

9:57Okay, great. So we know what we're willing to do an investment on. We say to any investor that we talk to, 10 million for less than 25%. And so we literally went to one of those dinners. It was a guy called Robert Locke, who used to organize these early sort of doors, network dinners for the tech entrepreneurs at the time. And we tried it on. We said exactly that line. And one of the investors around the table said okay i'm interested let's have a chat and within you know within a week we had a term sheet and we had other term sheets for less but we turned them down this one we we took and it was literally i think quite unique at the time because of that you know it was 11 we ended up doing 11 million dollars because we had quite a lot of interest from like real real impactful angels at the time including the likes of brent hoedman who became our chairman and we we took six million off the table.

10:45And at the age of 29, that was a pretty life-changing event where I had, you know, a few years earlier, been 35 grand in debt, you know, paid that off, you know, you know, by partly living at home with my parents, but I hadn't, you know, I was still living at home with my parents at the time where we just did this deal. So finally I can like buy a house and everything felt different because I had money in the bank and I could earn interest. That was in the days like now where you can earn interest. Fast forward to what happened next. So, you know, sitting high just raised 11 million dollars um you know we were a profitable business and one of the first things that the vcs and brent you know quite rightly i think said at the time if we wanted to be big because sites like myspace were coming out of the woodwork and people were hearing about this thing called facebook but it was private network at the time and they said we need to be free you know we need to stop charging a subscription and that way we can really grow uh even more you know our monthly uniques could go really high.

11:44And so we went literally overnight from being highly profitable to loss making. But that became the sort of the path that made sense, particularly when Sequoia were releasing reports at the time saying, you know, one unique is worth$30. So if you have like 8 million uniques, you're worth$240 million. And congratulations, your valuation has just gone up by$50 million month for month. This is what the advisors were telling us. so we're like thinking great we're on our path to a billion you know everything's going rosy doesn't matter that we're losing 100 000 then 200 000 a month in burn because you know we can follow that path and so fast forward to 2008 when we were you know going back to the market raising our next round we met with a fund that had just come to europe called highland capital partners and they um they gave us a term sheet you know the guy there you know fergal really nice guy in the actual uh it was a it was a polish restaurant in uh southwark called the baltic which is no longer there but it was a great place and literally on the back of a menu he wrote out the term sheet 20 million 60 million pre you know one time liquidation and he kind of gave me his word so we went down the process of doing dd they've already got back to us saying this is the best DD we've ever seen you know really like high quality it's pretty much a done deal.

13:07DD being due diligence not done deal for anyone that doesn't. Yeah not a yeah not done deal it certainly wasn't a done deal because you'll hear what happened next and this was a good a good learning in life no it's not a deal until it's a done deal because I actually went on holiday I had a obviously a booked holiday with my wife and my co-founder was going to kind of finish the the last little bits and bobs. And I get an email and a phone call from my co-founder saying the managing partner of the fund wants to have a call before finalizing the deal. I was like, OK, sure. I was in Playa del Carmen at the time.

13:43So I, you know, picked a time, booked in my spot in the internet cafe with my Skype headset on and literally had this call. And you know that moment when you just know this ain't going to happen. You know, the way they were asking the questions they were asking questions about churn and about things that were like the pain points of our business but it was very much like hmm yeah we don't think this is actually as good as we think it should be and so I left that call feeling like the emptiest of stomach and then within within a couple of days by the time I got to LA I got the news that they decided not to do the deal and I've never felt so broken as I did on that day because it just felt like the whole wind and life had come out of me because I figured, what are we going to do now?

14:28Every European fund had pretty much said, that's a good deal. You did well. We can't compete with that. And so we then went on a bit of a death spiral. We went from having this plan to grow internationally, international expansion, do all these great things with 20 million in the bank, to we're burning 200 grand a month in cash and we've got a million left in the bank. That's not going to last that long. So what did we do? We drew down on a convertible low note that was part of the previous deal, which we agreed with the investors, our investors at the time were Draper Esprit. And we essentially tried to turn the business around, but it wasn't working.

15:08We were literally starting to feel that without investing, we'd miss that window. And then one week after the deal falling through, the credit crunch, 2008 credit crunch hit. And suddenly all the market just disappeared. And that's why we, you know we had no choice but to draw down on the loan and and see if we can turn it around so then fast forward to the last literally six weeks or so of like when the conversion of that note is supposed to happen uh we get a we get a an email saying we need to discuss the loan note from our board member at the time and you know okay probably just a formality turns out that the investors didn't think the business was worth what it was when they invested and that they think that we should sell the business and we'll lose two thirds of the ownership and they'll drag us into a quick sale.

15:59And this was probably one of the biggest lessons in my entrepreneurial career because that really was the first time where the rug had been pulled from underneath me. And I felt very much betrayed at the time. And I think this is a bit of my own naivete if I'm completely honest, because whilst I didn't take it as badly as one of my co-founders, it did feel like a punch in the stomach and like a gun to my head. It would have been nicer for them to let us know six months earlier, look guys, if we don't achieve X by when, then we're going to have to do this because then I would have had a chance to do something about it.

16:36So if it wasn't for another great mentor of mine, a guy called Chris Grew from Oric, who a friend of mine at the time, Colvin Stone, who was another lawyer, said, you should talk to Chris. Because my existing lawyers at the time were saying, yeah, there's nothing you can do. You're screwed. You know, you're going to have to do this deal. And I was like, no, I don't like that. I don't like that advice. I'm going to get different advice. And I spoke with Chris and Chris was literally, well, there is one thing you can do, but you have to be willing to go all in. And I was like, I like the sound of that.

17:06What's that? He said, well, you have to be willing to go bust, but then you're playing their bluff. Because if you go bust or you say fine let's take the business into administration then they lose all of their investment pretty baller move and they're not going to like it but that is one way to get some leverage and I and we spoke about it with my co-founders and we're like no we're doing that and it was more out of principle that we did it because we felt that we didn't have the chance together as a team to sort of turn things around and so that's what we did and we it's the best lesson in life sometimes when your back is really against the wall because what we had negotiated as part of that in other words we actually did have a negotiation out of it was that if we can turn the business around in six months with some pretty hefty targets so the targets were we had to double the traffic we had to return to profitability and double the revenues in six months we trebled the traffic and we achieved the other two oh the other thing we had to do they made us do was to hire a COO.

18:12And so that was a bit of a surprise that you'll become apparent shortly, because we could collectively choose who that person would be. And I felt the right person, the number one person for me was this guy called Michael Gere, who I'd met over a coffee in Chancery Lane. There's this really nice American fellow who had just come over from Moscow. And he was telling me about what's about to be launched this this new dating site called Badoo and this was literally before it it went live and he's telling me about it and giving me a sense of how it's going to have all these like viral mechanics and social gaming aspects to it and I could just tell by the way he was talking that a he really knew his stuff and b this was actually going to be quite quite huge as we all know Badoo went on to become one of the world's if not largest dating site in the world Product Powers Bumble, sold to Blackstone for 3 billion.

19:03And he, at that time, had just helped Badoo get to about 70 million users, but he wasn't vested. So, you know, he was on the founding team, but he wasn't part of the ownership. So I was able to convince him to come on and join me because that was, you know, a great opportunity for us to work together. And so in that time, we focused on one thing. we did one product that was you know based on some of the experiences he had at badu called meet people with a travel angle to it and it worked and it was a great lesson to know if you focus on one thing you get the entire team to down tools forget what we were doing before the make or break opportunity and that turned the business around and we went on to live another day and then pass you know fast forward to a couple of years on we we ended up selling to lastminute.com where it all started i think the thing that struck me here with you um sharing this story is you didn't just accept that to be the truth.

19:58You could have taken it at gospel and you went to a pretty respected first person and second person and third person, etc. and heard the same thing, which wasn't what you wanted to hear over and over and over again. So you stayed curious. If you'd have stopped, if you'd have taken the first, second or third bit of advice that you were given and you weren't relentless about trying to seek a better way or a different potential answer, you wouldn't be in this position. You wouldn't have sold the business. You would have gone down instead of up. And I think that's really something in there, right?

20:29Because how do you ever know? Like, this is the problem with entrepreneurs. You know, we are stubborn, we are resourceful, and we are relentless. But how do you think you know sometimes if it's the right move or the wrong move, right? Because at the end of the day, you can keep banging your head against the wall for such a long time, getting the wrong answers be one right answer or one wrong answer away from the right one. But at the same time, you can also cause yourself quite a lot of anguish by doing this and not accepting fate for what it is. So how do you think you can possibly learn to get this right?

20:58Well, I mean, I think the first thing which I took from that whole experience that really stuck with me was, you know, the importance of never giving up and perseverance, because it got to the point where I felt I literally what's the worst thing that can happen. And I think we all fall into this, you know, fear factor of like, it's going to be my world is going to crumble if you know if the business goes under then my reputation is in tatters and i'm never going to get a job and then you kind of take a step moment you think well actually what will really happen you know i've got money in the bank i've had a huge amount of experience from what i'm doing you know i can do this again and and there there will be other opportunities so you don't actually have as much to lose as you think and the other big lesson which chris would really drill into me from auric would be that you have a lot more leverage than you realize.

21:44And it was when I started to believe in that and started to think, you know what, I'm going to test this theory out. I'm going to see just how much leverage we really have and to really push it to the point where, you know what, I am prepared to lose everything because that losing everything is actually not as much as, it doesn't scare me as much as I thought it did initially. And maybe what I'm standing to lose is not as much as what, you know, our investors at the time would stand to lose. So this is worth a gamble. and I think the other thing was to you know to sort of accompany that is that the amount of times we almost went bust you know both before and after that frankly for various reasons you know a few days from running out of cash or having to let go of most of my team and somehow not doing so and coming up with some rabbit out of a hat you know a few days before which I didn't even know it was almost like I had this and maybe this is almost unhealthy but I had this sort of feeling of like oh we'll find a way we always have we always will we're going to find a way and my staff would be in on this.

22:40They would know that they might not get paid in a few days. And then suddenly, miraculously, almost we would find a way. And that continued in those sensitive times to the point where, you know, we managed to sell the company, not for hundreds of millions, which is what I would have obviously liked to have done, but nonetheless in six figures with the team intact. And the moment that really hit me on that was I went to Poland where most of my team were to let them go because I was essentially mandated by my then investors at the time we had Scottish equity partners in who did a buyback recap when we turned the business around and I was sort of mandated to let them go because that's what we'd agreed you know in the board meeting and I literally sat there and I saw my team members start crying and it really hit me because I was like what are we doing this for what what is what is this what you know what is this all about and you know what I remember saying like no I'm not going to do this today I'm going to go back to the UK I'm not going to let anyone go I'm going to renegotiate with my investors and they they they actually gave us more funding you know credit to Scottish Equity Partners for that they they go okay that actually makes a lot of sense you know we've got some acquisitive interest we can sort of fund you because we were profitable but we were like on a very thin cash line and so that that made it harder but they were helping us if you know to to go through that time and and ended up almost selling to another company.

24:04And then even after that, when that kind of didn't happen because they had an existential event as a company, which is often what happens when you try to sell the company, you're just about to sell and then suddenly something left field happens and you're back to square one. But it was a blessing in disguise because I can't think of a better company to have sold to in the end, which other than last minute. How many times do you reckon you almost went bust? I counted at the time, and I can't verify this because it was based on then just working out those it was much closer to me at the time but I wanted to hit the number 15 because it was a really nice round number but I basically worked out it was 14 times.

24:40Blimey. I mean that is it's amazing actually I've never asked that question before and I wasn't expecting you to have such a high number let alone recollection of the specific number but that says a lot doesn't it says so much in someone's story to have gone almost bust so close like that 14 times and still have sold the company what is the key lesson that you want to share with entrepreneurs that are listening to that mean feat of resilience i mean first of all whatever when you're so close to the line you need to get advice insolvency advice and everything else you don't want to be done for wrongful trading so you know don't be naively thinking oh it's all good i can just like pretend everything is fine like make sure that you're always just on the right side of the line but at the same time be open and present to creative thinking in the very sort of you know when your back is against the wall because invariably things come out the woodwork that you don't expect that and it brings out the best in you and your team when that happens it's amazing how we get so you know we you know we let the team become you know inefficient you know we don't really focus on one thing we focus on too many things when we've got loads of money in the bank and no real time pressure but suddenly when you have no choice somehow you just become extraordinary in the way that you do things and so I think that whilst I wouldn't recommend anyone to get into that sort of struggle from month to month sometimes scenario I think when you find yourself there the number one thing is don't give up and just be open and present to opportunity and be creative in your thinking and usually invariably something comes up that gives you that second opportunity to keep going.

26:16I think it's really important to highlight something that you've said as well, which is staying the right side. Yes. Like it is super important that we, we don't act naively. Like I think you perfectly said it right. You're making sure that you're getting advice, making sure that you're not just hoping for the best. You are actually hoping for the best as a fucking responsible adult. You are still, you still have fiduciary duties. You still are a director of a company. Yeah. It's not a badge of honor. Well, it's not a badge of honour, but I think also, you know, people do go to jail for getting this stuff wrong, right?

26:51Exactly. I remember a time when I was going through something very similar in my last company, and I went to you, and you sent me to an insolvency lawyer. And I sat there in that insolvency lawyer's office. And I was like, honestly, so grateful that you told me to go there, because I was probably two weeks away from breaking the law, ultimately, without knowing. and we got out of it, but we got out of it on the right side of the law. And it's pretty important stuff. Yeah. And I think that's also about not being too proud or egocentric in this because a lot of people wouldn't want even people to know that they're talking to an insolvency practitioner because that surely sounds like you're failing.

27:27But it's just like seeing a therapist when you think something's not going quite right for your personal life or your family life. It's just very healthy, I think, to lean into that and just make sure that, you know you're doing everything you possibly can how do you feel to have almost built an enormous business and not to have i think it really became quite uh you know i never really confronted it until i saw the film social network because i watched that film and i in the cinema and i just couldn't help but thinking man that could have been us that was so close like i like chart the early stages and it's like you know if i didn't have if i had a sean parker like tap me on the shoulder and say, hey, let me introduce you to someone right now who can really help you like the next stage.

28:12And like, this is what you should do. Like, again, a mentor at the moment. I think maybe it would have been different. But, you know, the funny thing is I've had, you know, and I think the part of this is cognitive dissonance. But I think it's also genuinely being grateful for, in so many ways, my life experience today, because that I really cut my teeth on that experience. And if it wasn't for that, I wouldn't have humbled myself, which I think a lot of entrepreneurs who've never had any form of failure because they've just been fortunate to go through to, you know, scaling and then exiting can get into a little bit of the mindset.

28:44Well, you know, you just have to be really smart and work hard and do this and then everything's just going to sort itself out. And the reality is not that, you know, that's the 1 % that you see in the headlines. And even those, frankly, will probably go through some struggles before, you know, they go there. Like how many of us do, you know, do you speak to who almost run out of money and then, you know, they just kept going and they found a way through. So I think that that sort of journey, the entrepreneur's journey, that struggle that we go through is a really humbling experience, which is hard to explain to anyone who hasn't done it before.

29:14You know, your listeners who are in the midst of it or about to go into it should be really aware of that. But again, it's the biggest growth opportunity for you personally to sort of learn what you're made of. Yeah. One of the things you shared as well, I just want to reflect on before we move off this topic and onto humanity is this. You have leverage. And I think those three words are maybe the most underappreciated, unrecognized realities of being certainly a funded business. When it comes to an investor-entrepreneur relationship, the understanding of who has leverage always feels one way.

29:57It always feels like the investors who have the board seat, who have the say, who you go to for advice, who have a lot more expertise than you, broadly speaking, because they speak to lots of different companies and use that against you. And they have a lot of very specific knowledge that you don't have because, and they use that to their advantage. All of this stuff just plays into a very one-way behavior cycle of you feeling like you need to perform for them what you did to call their bluff is actually fundamentally the one thing that i'm certain almost every entrepreneur could do but does not do and it's so important and i say this because i did this too i know the story of yours and i found it super inspiring and i also went as you know to a former guest and friend of ours michael acton smith of calm and i got his story And I got his, when this happened to me at Grable in my last company before Heights, and I needed to know how to turn the situation that I was in around, I went to Michael and understood how he got leverage and how he understood that actually every founder with investors in their business has leverage and how to hold your own and make sure you're calling a bluff and saying, if that's how it is, I'm going to just run it into the ground or I'm just going to, this doesn't have to be torpedoing a business.

31:18But in these times where the whole economy is tanking and businesses are going to be in trouble, it's worth remembering that. Yes. And I'm glad you mentioned Michael Acton-Smith because he's, to me, the archetypal example of someone who has been through some of those tough times, has maintained a real air of humility and niceness as a person, as a human being. you know i couldn't be more delighted about what he's done and you know it makes sense given he's also gone on his own journey with with calm and beyond totally so perfect example because and i suppose this is disclaimer michael and i are both investors in humanity yep so which is your new business so i'd love you to talk to us a little bit about what humanity is and why you wanted to start that and like frankly why you wanted to go at it again after a journey like that you know almost going bust 14 times, finally making money out of it.

32:14You know, what the fuck's the point? Why don't you just retire and chill out? Well, it all started, as a lot of these things do, at Web Summit. Funnily enough, when it was in Dublin, I was having a pint of Guinness with my good friend Michael Gere, who had helped get me out of the mess that I was in with Wayne. We were both wearing coloured ponytail plaits in our hair. No idea why, but the photo says it, so it's true. he literally said to me and i remember it really vividly because it's not the sort of thing that most people say to you what if i told you we could end aging and i literally looked at him i said okay and i say i'd tell you i think you've had a few too many pints of guinness yeah and also that i imagine i imagine that more pints of guinness is not the answer to end asia no it might they might like to say they have a lot of iron in there but that's a very fractional and actually too much iron is not a good thing but that's another story but no it was very much that sort of moment in life that we were talking about earlier, which comes to you and you, I was taken by surprise, but very intrigued.

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33:18And he said, no, but seriously, I've been hanging out as you do in a bunch of labs in the US, you know, in the valley and talking to a bunch of scientists. And Mike was just telling me that, you know, he thinks there's something there that, you know, we can measure this loss of function that happens in the body, aka aging, and we can productize this and bring it to direct consumers. And because him and I had experience at that point, I was just selling Wayne, he was selling Anchor Free, which went on to have 900 million users. We'd built these platforms that had reached over a billion users. And he literally had a very simple thing to say, which is I just think that we could use our skillsets to have huge impact to help millions of people slow their aging.

34:01And so I was like, okay, well, you definitely have my intention, but I don't know if this is really true. Like, can we really slow aging? You know, it's the first I'd really heard of it. And so he told me a little bit about his story and what led him to that. You know, and so he had a couple of family, a family member and high school friend who got diagnosed with late stage breast cancer. They died within a year of diagnosis. And that just left him feeling completely helpless as to how to help them, how to help his family, himself and others. And so he started to, you know, at the height of his career, he was starting to ask all these top scientists, people like George Church, who helped map the human genome.

34:36Aubrey de Grey, who is like the founder of the longevity movement. And they would be, you know, kind enough to answer his silly questions. And that's what really led him into this rabbit hole of what's better than early detection is prevention. And we can use this, this longevity science is data science AI to really understand what's working. So we decided to do what we called a science fantasy camp. Sounds really cool. Not, but nonetheless, we decided to, you know, pack our suitcases take a holiday from our day jobs i was doing my urn out at last minute and get our whole genome sequenced and meet some of the who's who in the genetics movement because he was like you've got to come to this this is like where you're going to meet some of these folks like george church and then i got to ask all the same stupid questions can aging slow down or reverse can it be done not just by taking a drug or or some therapy but you can do it through lifestyle you know environmental factors absolutely i was so surprised in fact how confidently emphatically they were saying absolutely almost like that's obvious um and then okay so we can we can build a product that can you know measure this and slow it down so that was the moment that was the moment where we met and we we came up with the name you know humanity you know we wanted to create something that would have impact across the entire species not just for us, but how do we propagate this breakthrough science and technology to hundreds of millions, if not billions of people and make it available to everybody rather than just the rich and famous and those who can afford to have all these treatments.

36:13And so began the decision that we were going to create this company. And kudos to Mike for even suggesting that we'd be co-founders and I'll be the CEO. He'd worked with me at Wayne and he said, look, you're just great at building teams and strong culture. And I think that it makes more sense for you to be the CEO. And I was very happy and humbled that he felt that. And I couldn't have found a better co-partner in crime because literally he is also my hero and my inspiration. And so what is humanity? It's a platform direct to consumer initially that essentially does two things. Number one, it monitors your rate of aging and biological age.

36:52and secondly it guides you to slow it down or even reverse it. So the best way to think about this is a little bit like a Waze the traffic app you know before they were sold to Google and now in powering Google Maps where it would know where you are on your journey and based on other people who took a similar journey before you would create that feedback loop to let the you know others know and also the algorithms know that the best route right now is to take the second left and get there in 17 minutes. And we don't know how that works on the sort of technical sense as a consumer, but we know that if it gets us there in 17 minutes, give or take a minute or so, it's pretty darn good.

37:31So I'm going to trust it. There's no health navigation system out there. The way that health is propagated to the masses right now, the gold standard is double blind placebo clinical trials where they take one variant and that variant can be omega-3 and And they try to basically see whether it's working for everyone who takes that versus they don't. Or, you know, does that high intensity interval training every week or three times a week for X number of weeks? Does it have an effect on their health span and lifespan? And what they would continually find is that they can't repeat the same results with a different cohort.

38:07Sometimes they contradicted each other. And that's partly because you can never really control for all the other variables that are happening at the same time. You know, we're all different. and the twin studies show that. So what we're building really is a system that enables you to see what's working to increase your health span based on other people who are doing similar actions but slightly different who have a lower biological age or are slowly reversing their aging and then we map you to that healthiest version of yourself cohort so that you can become healthier for longer. Okay so quite a big vision how are you doing against your vision so far?

38:51So our mission is to get a billion years of health back to humanity by the end of this decade and I think a great analogy of this is when they map the human genome which they did like less than one percent in the first year over a few years and then exponentially obviously they they were able to achieve it. And so we've got 150 ,000 plus users today, billions of health data points, and we've already yielded over 40 ,000 years of health back to humanity. And so this is our North Star. This is the metric that we communicate on our all hands and measure. And it's essentially the difference between your biological age and your chronological age or your actual age based on your date of birth.

39:32And we essentially look at that when you sign up and look at what happened since. And so behavior change, the holy grail of any health intervention. I remember when we met Astro Teller and he literally said to us, almost like tongue in cheek, if you can crack behavior change, then you have the holy grail of health. We tried to do it at Google and we couldn't do it. And so we made a point of going, great, that's really helpful. We're going to crack behavior change. And so we did this metric, which is the nearest thing to a trial where you can see what movement people did before they signed up to the app and what happened afterwards.

40:03And we saw that we could get an average of 15.5 % median increase in movement for the next 40 days after signing up compared to the previous 40 days. So it's not just something that happened for the first day, but something that was sustained for 40 days, and it was stark, the increase. And what's even more interesting, and we didn't realize this until we ran the data, is that the clinically obese, those who had a BMI over 25, increased it by 18%. We could actually see that we weren't just having an impact on those who are already healthy and focusing on how they can get that extra five percent improvement in performance this was about everyone you you know your your joe blogs your you know your mom and dad you know your your friends uh whether you're a couch potato or you're a fitness fanatic this is something that can help you and guide you to a healthier version of yourself and it's something really you know quite provoking in a good way i think to have that awareness of how you are aging you know on the inside but your biological age compared to your date of birth age because we're all blinkered or we don't want to know sometimes because we're worried to know but once you find out and more importantly once you realize that it's in our control that we can actually affect this and not just affect it in a small way but in a big way to the extent that there was a study that came out in 2021 where they did a four-month uh sort interventional trial where it was essentially a combination of you know some exercise good sleep low stress taking probiotics and and a combination of different relatively simple interventions and it had a profound impact on the ostensibly healthy population in slowing their biological age and improving their health biomarkers but not just by a few months we're talking about years a year of health gained and there was a couple of great scientists and economists you know Andrew J.

41:52Scott not the Andrew J. Scott we know but an Andrew J. Scott in London Business School, David Sinclair, Harvard's sort of scientific professor focused on longevity and a guy called Martin Ellison, they actually for the first time calculated the economic and societal impact of giving a year of health back to humanity and it was calculated to be worth 38 trillion and 368 trillion over 10 years. So this longevity dividend is something that if you were to assume everyone's valued equally is$27 ,000 per person. So that's obviously not the number you care about, because actually giving your loved one an extra year of health on this planet is priceless.

42:32But it gives you a sense of the impact that you can have if you not only help yourself increase healthspan, but you give that gift of life to your loved ones. And for those that don't actually understand exactly, what does it mean when you talk about biological age? How does that differ to chronological age? So your biological age is essentially measuring your loss of function or risk of disease and or risk of death. So in scientific terms, it's called all-cause morbidity, risk of any kind of disease and all-cause mortality. And so it's thanks to these incredible data sets that we, you know, if it wasn't for them, a lot of the breakthroughs that you read about, you know, often day in, day out, actually, in the news.

43:18if it wasn't for these longitudinal data sets like the UK Biobank here in the UK, NHANES in the US, we wouldn't be able to really run now these machine learning algorithms and use AI to see what the patterns are in the data. Because we could see, in our case, in the UK Biobank, they had these accelerometers tracking them for up to six months, second by second. And they also had the heart rate monitors tracking them second by second. Fast forward to today, we have that technology in our pocket or on our wrist or even on our finger where we can measure our heart rate second by second our movement patterns and there's a huge amount of richness in that data now we're not talking about the number of steps or how fast you walk although those are part of the equation we're talking about the patterns because the pattern is what the ai can pick up on and say okay that pattern matches this trajectory and so that feedback loop enables us today to compare your pattern to those hundreds of thousands of people that had those patterns 20 years ago.

44:14And we can fast forward to see who got sick, who died, who got cardiovascular disease, who died at 67 and so on, and therefore give you that sort of feedback loop to know whether you're heading in the right direction. Yeah, that's a lot clearer. Because I think one of the challenges, obviously, with getting people involved in the mission of humanity and more interest in longevity is trying to break down, you know, not just like complex science, but trying to break down that this really is for everyone. Yeah. There are changes that we can all make, and they don't have to be massive, and they don't need to be complicated at all.

44:49I mean, essentially, what you're offering is an app connected to some smart devices you might already be carrying in your pocket or on your person. There are things and behaviors that we make, choices, ultimately, we make every single day that will make that number go up or down. And And once you can see whether the number is going up or down, your hope is that that creates the behavior change, right? Exactly. There's only two things that people really want to know. What is it that I should be doing to be healthier? And two, is it working? And the problem is that we are confused by all of these contradictory reports of general population guidance telling us this is good for us, this is bad for us.

45:29When in reality, when you look at it on a scatter graph of what's good and bad for you, it's all over the map. Because the real answer is it depends on, you know, on you and what your makeup is. And so when people ask me, what's the one thing you can do to slow your aging? And they're expecting me to say exercise more, you know, do this or that. The actual answer is to monitor yourself because by monitoring yourself, you can start to understand what your biomarkers are, how they differ when you start changing your behavior. One of the things that's really important to us, you know, I'd like to add is that, you know, we wanted to be radically inclusive in this.

46:03We didn't want this to be something that you have to pay a lot of money to get access to because, you know, that is not going to have a huge impact if we do it that way. So instead, we wanted to create the app, as you mentioned, direct to consumer that was initially, at least for a big part of the experience, free. So you get your rate of aging for free. You've got the guidance for free. It's like having the compass that tells you if you're heading north. It just doesn't give you the geo coordinates unless you become premium. And that's just the flywheel that enables us to create a scalable business.

46:30But not only that, we realized that, you know, for some people, it's hard to believe that AI can solve this using your heart rate and your movement. You know, people feel a little bit what some people do. In fact, interestingly, people that use the app are quite trusting. But nonetheless, some people feel this is not real. If they see a number, they don't like, that's just not real. That's not true. You know, unless you get your bloods done or your DNA methylated or something like that. Well, we thought, well, why don't we try and look at this from a biomedical point of view as well, just to see what the same principle of approach in terms of looking at the longitudinal data and using machine learning to solve this for blood markers could accomplish.

47:10And so we recently published a scientific paper that's in peer review. And it's just been picked up, funnily enough, by the leading journal in longevity area called Longevity Technology. and they were saying this is huge because what we actually did was we ran the data on the uk biobank data set over 300 000 participants so all publicly available data so anyone can run this it's not like you know we had this confounding factors that we've sorted out that you will never know about this is real public data that you can get a license to and we ran the the ai and the ml on it and we basically were able to come up with a blood biomarker model that's nine percent more predictive than the most well-known blood biomarker out there more importantly though we worked out that we could do this with a handful of blood biomarkers like four five six blood biomarkers from a panel of 60 common markers and we can pretty much get the same level of prediction give or take a few decimal places of percent which for us was much much more interesting because it's a lot less expensive to get four or five blood analytes than it is to get 2030 and so you know to make it as radically inclusive as possible that's something that not only did we want to incorporate in our app which is coming soon but we wanted to publish it and have it open and available for anyone so that frankly anyone can do this at home if they want and they can you know they can monitor their their aging for a fraction of the cost earlier um you use words like exercise and drinking less and eating less and how that's going to help us lower aging but that's obvious stuff like we know that and everyone knows that whether they do anything about it is very different to knowing it we all know it what is the most surprising action to reverse aging that you've discovered is there anything that we wouldn't necessarily have thought of like is this where you tell us we should be drinking tons of whiskey well i'd like to believe that that's good for you because it makes you you know happy in social settings and and that actually does link to interestingly what the largest longitudinal study in the world uh longest longitudinal study in the world has revealed to us, which is called the Harvard study, where they actually monitored a bunch of people in Boston, one cohort that went to community colleges, and one that went to Ivy League schools.

49:18And so they thought this socioeconomic effect was going to have obviously one of the biggest impacts. And they've been monitoring this over, you know, across generations for, I believe, about 100 years now. And the thing that was most astonishing for the researchers, and frankly anyone who hears about it is it wasn't cigarette smoking it wasn't your poor diet or a lack of exercise that had the biggest effect on your aging it was the quantity and quality of your social connections how rich your your your family and your friendship life is you know especially in your older age age sort of periods because you know loneliness is a killer and and so actually we introduced an action recently in the app which is message a friend you know it's something so simple where it's just about checking in with someone that you haven't spoken to recently and saying how how are you in this day and age especially post-covid we don't know what people are going through and that little connection engagement can really make a difference to answer your question more specifically from from humanity the thing that's been most surprising to me is how different the impact of actions are for different groups of people so instead of saying this is good for you and this is bad for you.

50:27We've now stratified the effect of multivariant actions, everything from an extra 10 minutes of high intensity activity to one less snack to an extra hour of sleep to 10 minutes of meditation, etc. And we can literally see a little bit like a synthesizer of data to an over 95 % confidence interval. What impact on your aging would an extra element of each of these actions have on you, some positive and some negative, right? And the thing that was most exciting, I guess, for us was to see that for, say, women with a BMI of, say, below 25 in their 20s versus, say, a male with a BMI over 25 who's in his 50s, the difference in impact on these things were completely different.

51:11There is no, this is the right thing for you. Because, you know, maybe if you're really fit and healthy and you're in your mid-20s and you're already doing a lot of exercise and you start doing HIIT training three times a week, it's great. It's optimizing your performance. maybe if you're not that healthy i mean this is just an anecdotal conjecture but maybe if you're not that healthy and you suddenly start doing HIIT activity when you haven't been doing anything for ages it could be more risky for you than healthy it could cause you a heart attack and it's the same with like fasting you know if you have a if you or rather i should say keto for people that really believe in keto if you don't have a certain protein that allows you to absorb the fat it can be really damaging and you know we're hearing that a lot of the studies on fasting are done on men.

51:54So we so there's what about when a woman is going for is pregnant, you know, and it and or is in general looking to get to get pregnant or breastfeeding, even just when they're not, is it is it actually net positive or net negative? And I think some of these questions haven't really been fully answered yet because of this like general population, it's good or bad for you answer. That's what we hope to have a huge contribution towards. Love it. And you're already having a massive impact on the world, but certainly your users and at the very least our listeners already. So I want to know, looking back, do you have any regrets?

52:29Is there anything you wish you'd do differently? In all sincerity, I frankly don't. I'm doing something that I feel can have a tremendous impact on society. And it just gives me a lot of purpose having lost, you know, my dad to a severe stroke when I was in my 20s and my mum last year to COPD from smoking all of her life it's just not necessary because what's better than being around for your grandkids or even great grandkids um in many years to come amazing p i'm gonna ask one final question the one i always ask everyone as the last one which is what advice are you going to give to aspiring entrepreneurs who are looking to start their own business similar advice to what you would give dan just start now just do it it's amazing how momentum has a part to play so just put your step your foot in front of the other and before you know it you're doing something my wife's on this journey now you know she's a been a stay-at-home mum for many years a homemaker before that and and she's literally you know i don't want to jinx it but about to set up a business potentially with two of the mums that she's met through forest school and it literally went from an idea to now they're like negotiating a lease for in a local establishment and it's just i feel so excited for her and and And it's just incredible to watch that immediate momentum.

53:45Suddenly something from nothing is something. You know, people are talking about it. We can imagine it. And I would just, for anyone who's thinking about becoming an entrepreneur, just do something. Just start the process and amazing things will happen. I guess the other thing is when you're in that journey and once the chips are down and when things are really tough, don't give up. Remember you have leverage. And ultimately, you know, just be curious. almost watch yourself i think now i can say this almost with hindsight but i try to do this and catch myself doing this but imagine you're in an experiment like a scientific experiment and when you have this situation that's really tough almost take a step out of yourself and go oh this is an interesting experiment i wonder what would happen if this happens in this way and just be super curious and i think if you're open-minded and present and have presence in what you do i think that you will get all the presence in the world from life and from the love and the connections that you get from the people around you, because things will manifest for you.

54:45Just believe in yourself. Thanks to Pete and his optimism, I'm leaving this episode excited for what the future holds, even more so than normal. Thanks for listening to this episode of Secret Leaders. I've been your host, Dan Murray-Surter. The episode was produced by Ruth Edwards and Sol Harris, and it was brought together by our head of podcast, Will Stollerman. See you next time. Thank you.

From the publisher

We’re talking to Pete Ward, the Co-Founder and CEO of Humanity. Until now, the thought of slowing or even reversing the ageing process has been pure science fiction. But using readily available technology, Humanity are out to change that. 
As a society, we’ve fallen prey to the idea that there’s a one size-fits-all methodology that will improve people’s health -exercise more, eat healthier, drink less - you’ve heard it all before. But Humanity, have recognised that everyone is built differently. By using their app to track your nutrition, movement and mind, Humanity say you can compare yourself against the global datasets, revealing what you, specifically, should do to improve your personal health.
Before Humanity, Pete had several successes behind him.One of his earliest was WAYN.com, which he also Co-Founded. They were the largest social travel network for over 13 years before he sold it to to lastminute.com in 2016. And now, with Humanity, he wants to have a more meaningful impact on the world. 
Pete’s story is fascinating, and he’s got advice on mentorships, why you probably have more leverage than you realise and how you should always think twice before giving up in the face of adversity. 
You can’t change your chronological age, but can you really change your biological one?
Listen to find out.
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