Hims House

Jonathan Stern
  • 5.0 (7)
  • INVESTING
  • UPDATED SEMIWEEKLY

Hims House is the ultimate podcast for Hims & Hers investors. Hosted by Jonathan Stern and Patrick Lester, Hims House breaks down all the key questions shaping $HIMS — from telehealth and pharma to GLP-1s, compounding, and the future of healthcare. New episodes every week. himshouse.substack.com

  1. Ep 57 - Former quant Annanay Kapila on why Hims is the most-shorted stock in the S&P MidCap 400 🤯

    4H AGO

    Ep 57 - Former quant Annanay Kapila on why Hims is the most-shorted stock in the S&P MidCap 400 🤯

    In Hims House episode 57, former quant Annanay Kapila (ex–Tower Research, Cambridge math) breaks down how high-frequency trading actually works and why retail investors shouldn't try to beat HFT firms at their own game. He breaks down QFEX, his new 24/7 exchange built with crypto-style efficiency for traditional markets, and the core case for nonstop trading. The conversation then turns to Hims' extraordinary short interest — roughly 76 million shares, around 44% of float — with Annanay pointing out that theoretically much of it *could* stem from long/short hedge fund mandates, risk-model offsets, and institutional groupthink rather than fundamental bets against the business. They also unpack what large disclosed stakes from firms like Jane Street and JP Morgan actually signal. The episode closes on Annanay’s essay “Prediction Market Paradox” - a dimmer view on prediction markets. 00:00 Sponsor: Mochi Health 02:10 High-frequency trading 03:59 Background of a quant 12:47 Why Annanay left Tower to build QFEX 15:28 The case for 24/7 trading 18:56 Does HFT “rig” the market? 25:45 Why Is Hims so heavily shorted? 34:25 How to read short disclosures correctly 37:14 What might trigger shorts to cover? 40:15 Hims down 17 out of 18 weeks 🤯 41:41 Convertible notes and the anti-squeeze 45:52 What a Jane Street stake really means 52:11 Prediction markets Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.

    1h 2m
  2. Ep 56 - Myra Ahmad (founder & CEO of Mochi Health) on the future of GLP-1s

    6D AGO

    Ep 56 - Myra Ahmad (founder & CEO of Mochi Health) on the future of GLP-1s

    In Episode 56 of Hims House, Jonathan Stern sits down with Myra Ahmad, founder and CEO of Mochi Health, to unpack where GLP-1s are headed - and how Mochi is building a broader telehealth marketplace around metabolic care. Myra explains Mochi’s pharmacy “marketplace” model and how she thinks about staying compliant with compounded GLP-1 pills amid increasing FDA scrutiny. They discuss oral vs. injectable GLP-1s, why pills may be an on-ramp but not a long-term winner for most patients, and what the Hims GLP-1 pill episode signals about enforcement and risk. Myra also outlines Mochi’s expansion beyond weight loss, including longevity and labs, and where AI can (and can’t) meaningfully replace humans in healthcare. The conversation closes with predictions on the next wave of GLP-1s. 00:00 - Sponsor: Mochi Health 01:56 - Mochi's compounded semaglutide pill 04:27 - Oral vs. injectable GLP-1s 11:25 - $HIMS GLP-1 pill blowback 17:19 - FDA enforcement risk and what could change 22:27 - Patents, “personalization,” and where compounders may get exposed 24:05 - Mochi's growth story 24:47 - Retatrutide 31:32 - Why the U.S. could resemble Canada's system 34:09 - AI in healthcare 37:40 - Labs, GRAIL, and prevention 41:01 - The next era of GLP-1s Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.

    44 min
  3. 🚨 Ep 55 - NOVO NORDISK SUES HIMS & HERS — Patent attorney Gaston Kroub breaks it down

    FEB 10

    🚨 Ep 55 - NOVO NORDISK SUES HIMS & HERS — Patent attorney Gaston Kroub breaks it down

    Thanks to our partner, Mochi Health! https://JoinMochi.com In this episode of Hims House, Jonathan Stern is joined by patent attorney Gaston Kroub to break down Novo Nordisk’s Delaware lawsuit accusing Hims of infringing the semaglutide “343” patent (U.S. Patent No. 8,129,343). They discuss what Novo is actually asking the court for (a reasonable royalty, damages, and a permanent injunction), what Novo has to prove, and what levers Hims has to fight back. Gaston explains why Novo didn’t seek a preliminary injunction at filing, why that may be intentional, and how venue, jury dynamics, and Delaware court congestion may shape the case timeline. They also get into the downside scenarios for Hims, possible defenses and mitigation strategies (invalidity, damages limitations, indemnification), and how parallel FDA and DOJ pressure could influence the broader future of compounded GLP-1s. 02:25 The lawsuit and what Novo is seeking: royalties, damages, injunction 07:41 Why no preliminary injunction filed 12:31 Why did Novo file now vs. 8-9 months ago? 24:04 Why did Novo file in Delaware? 29:21 Likely timelines, chances of settlement or dismissal 33:20 Worst-case scenarios 36:48 Indemnification and supplier liability? 45:01 FDA & DOJ pressure on compounded GLP-1s 49:46 How Hims miscalculated the oral launch 55:00 What to watch next Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.

    55 min
  4. Ep 53 - Max Marchione on Pharma 2.0, Peptides, and why Hims could 10x or even 100x 🤯

    FEB 6

    Ep 53 - Max Marchione on Pharma 2.0, Peptides, and why Hims could 10x or even 100x 🤯

    Thanks to our partner, Mochi Health! https://JoinMochi.com Subscribe to Hims House: https://himshouse.com/subscribe Follow us: https://x.com/himshouse https://x.com/jonathanrstern https://x.com/maxmarchione Join the Discord: https://discord.gg/tJqGgVhkEt In this episode of Hims House, Jonathan Stern sits down with Max Marchione (Founder/CEO of Superpower) to break down what Hims' “rich people live longer” Super Bowl ad signals about the company’s ambitions beyond GLP-1s. They debate the path from DTC e-commerce to a true health platform -- membership, verticalized manufacturing, and “Pharma 2.0” wellness therapeutics -- then widen to the peptide boom, gray-market demand, and the “health super app” race. They close on labs pricing dynamics, AI hiring, and what could re-rate Hims’ valuation. 00:00 – Sponsor: Mochi Health 01:58 – Why Hims' Super Bowl ad works 03:52 – Membership + manufacturing + pharma 2.0 06:33 – Superpower's approach 10:19 – The peptide market explosion + retatrutide 16:13 – Health "super-app" race: Hims, Whoop, Oura, Superpower 19:50 – Deep dive into peptides and regulatory outlook 27:50 – Superpower's product roadmap 28:39 – Pharma 2.0 and consumer-driven wellness 30:25 – Labs pricing strategies and market dynamics 36:51 – AI and engineering: what is Hims building?!  42:25 – Hims valuation: 10x (or even 100x) potential 🤯 47:27 – Future of GLP-1s   Not financial, legal, or medical advice

    50 min
  5. 🚨 Ep 54 - EMERGENCY POD: Hims launches GLP-1 pill, Novo Nordisk threatens to sue!

    FEB 5

    🚨 Ep 54 - EMERGENCY POD: Hims launches GLP-1 pill, Novo Nordisk threatens to sue!

    EMERGENCY EPISODE!!! Hims has launched a compounded oral semaglutide (GLP-1) pill, immediately triggering legal threats from Novo Nordisk. Jonathan Stern is joined by Cremieux, a bioinformatician and leading GLP-1 researcher, to break down what Hims actually released and why the drug-delivery mechanism matters. The conversation examines liposomal delivery vs. Novo’s proprietary SNAC technology, whether Hims’ product will work at all, and whether Novo will sue / how things might shake out if they do. The episode closes with a look at unit economics, next-gen GLP-1s, and what this gambit means for Hims, Novo, and the broader obesity drug market. 00:00 Sponsor: Mochi Health 02:24 Initial reaction to the news 03:56 Science deep dive: liposomal delivery vs. SNAC 06:02 Legal implications and possible lawsuit 18:38 Future of the GLP-1 market (retatrutide, Viking, orforglipron) 25:03 Final risk assessment and conclusions Not financial, legal, or medical advice

    28 min
  6. Ep 52 - Sabina Hemmi on the GLP-1 Wars: Big Pharma vs. Compounders, Tirz vs. Sema, Pills vs. Shots

    FEB 3

    Ep 52 - Sabina Hemmi on the GLP-1 Wars: Big Pharma vs. Compounders, Tirz vs. Sema, Pills vs. Shots

    Thanks to our partner, Mochi Health! https://JoinMochi.com In this episode of Hims House, Jonathan Stern sits down with Sabina Hemmi (founder of GLP Winner), for the most comprehensive episode on GLP-1s that Hims House has done. They cover the compounding wars -- federal legislation, state-level crackdowns, and the lawsuits -- before diving into why tirzepatide dominates patient demand and what might be holding Hims back from offering it. The discussion spans oral GLP-1s, microdosing trends, and concludes with Sabina's skeptical take on peptides. 00:00 - Sponsor: Mochi Health 02:59 - Video games → GLP-1s 04:56 - GLP Winner Overview 10:28 - Who does Hims actually compete with? 16:43 - Hims x Novo Relationship 23:17 - Why tirzepatide is superior 29:30 - The SAFE Drugs Act 32:23 - State Bills: Indiana, Florida, Virginia 40:43 - Adverse events 43:09 - GLP-1 pill vs. injectables 50:57 - Over-the-Counter GLP-1 coming soon? 52:55 - Peptides Not financial, legal, or medical advice Subscribe to Hims House: https://himshouse.com/subscribe Follow Sabina: Tiktok: https://www.tiktok.com/@lawliepop Instagram: https://www.instagram.com/lawliepops Youtube: https://www.youtube.com/@lawliepop X/Twitter: https://x.com/lawliepop Substack: https://substack.com/@lawliepop Linkedin: https://www.linkedin.com/in/sabina-hemmi Follow us: https://x.com/himshouse https://x.com/jonathanrstern Join the Discord: https://discord.gg/tJqGgVhkEt

    59 min

  7. JAN 21

    Ep 51 - Hims 2025 Recap + 2026 Predictions

    In episode 51 of Hims House, Bayside returns to the podcast to for year-end recap + 2026 predictions. The conversation covers Hims & Hers’ eventful 2025—international expansion, acquisitions, new product categories, partnerships and breakups—before pivoting to what investors should watch for in 2026. Bayside, who shifted to a more cautious stance mid-2025, explains his current thinking on valuation, growth rates, and the catalysts that could change the narrative. The episode closes with bold predictions about tirzepatide, a potential Super Bowl ad, and where the stock might trade heading into earnings. 00:00 - Welcome back to Bayside 01:10 - 2025 Recap: Labs, testosterone, menopause, international, acquisitions (Livewell, YourBio), $250M buyback, Deb Autor as Chief Policy Officer 03:21 - Revenue concerns 08:45 - Valuation framework 11:30 - Is compounding still at risk? 16:51 - The competitive landscape 20:22 - Super Bowl Ad Speculation 24:15 - Tirzepatide?! 29:32 - Peptides Opportunity 32:13 - Novo partnership “active talks” 38:13 - 2026 predictions 45:30 - Wearables? 50:10 - Celebrity partnership gap Get full access to Hims House at himshouse.substack.com/subscribe

    57 min

  8. 11/10/2025

    Ep 50 - Shalin Shah (CEO of Marius Pharmaceuticals) on the oral TRT partnership with Hims

    Shalin Shah is the founder & CEO of Marius Pharmaceuticals, the company that partnered with $HIMS to launch oral testosterone (KYZATREX). We discuss how the partnership came about, the benefits of teaming up with $HIMS, and the future of TRT. (00:41) Origin of the partnership (02:55) Benefits of partnering with $HIMS (04:14) Deal shape and exclusivity (06:51) How KYZATREX will sit alongside compounded meds on the $HIMS platform (09:22) Will KYZATREX be personalized? (16:07) TRT as a schedule 3 substance (21:39) Gearing up for 2026 launch of KYZATREX (22:40) Future of TRT market (27:29) Peptides (29:44) Testosterone for females Get full access to Hims House at himshouse.substack.com/subscribe

    33 min
See All (57)

Ratings & Reviews

5
out of 5
7 Ratings

About

Hims House is the ultimate podcast for Hims & Hers investors. Hosted by Jonathan Stern and Patrick Lester, Hims House breaks down all the key questions shaping $HIMS — from telehealth and pharma to GLP-1s, compounding, and the future of healthcare. New episodes every week. himshouse.substack.com

Information

  • Creator
    Jonathan Stern
  • Years Active
    2024 - 2026
  • Episodes
    57
  • Rating
    Clean
  • Copyright
    © Jonathan Stern
  • Show Website
    Hims House

You Might Also Like