Hims House

Jonathan Stern
  • 5.0 (8)
  • 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. 3d ago

    Brazil's 2nd-largest telehealth CEO on how Hims & Hers should enter Brazil 🇧🇷

    Thanks to our partner: Superpower - https://superpower.com In episode 82, Jonathan Stern talks with Abrahão Fecury, co-founder and CEO of Eles & Elas, a Brazilian telehealth company built on the Hims playbook and now at about R$4.5 million (~$1 million USD) in annual revenue, growing about +10% a month. Weight loss is about 70% of that (compounded tirzepatide) at a 54% gross margin, with hair loss and mental health smaller and more profitable. Fecury walks through cash-pay pharmacies, Meta and WhatsApp customer acquisition, and how ANVISA's summer ban on Voy changed the category. We close with a discussion about Hims & Hers - where he says, if Hims wants to expand into Brazil, it should "absolutely buy" a telehealth in Brazil (like Voy or Eles & Elas) vs building everything itself. 00:00 - Sponsor: Superpower 04:51 - Revenue of R$4.5 million (~$1 million USD) 10:25 - Margins of each category 13:35 - Brazil healthcare 101 16:43 - 1 in 4 adults in Brazil has obesity 19:22 - Meta Ads brings in 80% of customers 24:30 - Why ANVISA banned Voy, then reversed it on August 5 28:32 - Voy "more than 10x Eles & Elas' revenue" 30:57 - Generic semaglutide margin is only 5-10% 34:26 - Lilly suing in Brazil too 35:30 - Paraguay shenanigans 40:38 - Hims should buy a telehealth to expand into Brazil 48:34 - Other countries in LatAm 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.

    Brazil's 2nd-largest telehealth CEO on how Hims & Hers should enter Brazil 🇧🇷

  2. Oct 1

    Finnrick CEO on gray market peptides, fake bodega vials, and China's manufacturing prowess

    Thanks to our partner:Superpower - https://superpower.com

    Finnrick CEO on gray market peptides, fake bodega vials, and China's manufacturing prowess

  3. Sep 16

    OpenLoop CEO: the peptide gray market is 2-3x bigger than analyst estimates, likely $6-8 billion

    Thanks to our partner:Superpower - https://superpower.com In episode 80 of Hims House, Jonathan Stern talks with Dr. Jon Lensing, co-founder and CEO of OpenLoop, the white-label company that runs telehealth behind the scenes for other brands. Lensing started OpenLoop out of the University of Iowa's medical school and says the platform will see more than 8 million patients this year and treat more than a million a month, across 400-plus brands from telehealth companies to grocery stores, dating apps, and gyms. He said he thinks GLP-1s will become a default medication the way statins did for cholesterol: he expects 80% of people over 30 could be on them by 2035, and he thinks Andrew Dudum's path to $40-$50 a month cash-pay is directionally right, maybe lower. On peptides he thinks some could be legal to compound before year-end, but not all at once. And he sizes today's gray market at $6 to $8 billion. 00:00 - Sponsor: Superpower 01:37 - The Shopify of virtual healthcare 04:32 - OpenLoop serving 8M patients this year 05:33 - MEDVi 07:08 - OpenLoop's January data breach 08:13 - Consumerism in healthcare 10:38 - 80% of people over 30 will be on GLP-1s 16:22 - Peptides likely this year, but not all at once 18:46 - Ready to launch peptides the day FDA allows 21:17 - Peptide API from FDA green-listed vendors 22:51 - Peptide gray market is $6 to $8 billion 27:01 - AI data moats 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.

    OpenLoop CEO: the peptide gray market is 2-3x bigger than analyst estimates, likely $6-8 billion

  4. Sep 3

    HIMS stock token hit $132 on Robinhood over the weekend due to ... $BONER coin?! 😳

    Thanks to our partner:Superpower - https://superpower.com 🚨 WARNING: This is not a typical Hims House podcast! I wanted to do this interview because what happened on Robinhood Chain this weekend directly affected $HIMS -- and I think Hims investors should at minimum understand what happened. Jonathan Stern talks with Eric, an Ethereum OG and the world's largest $BONER holder, and Yoni, co-founder of Long.xyz, about BONER — a memecoin on Robinhood Chain paired with the $HIMS stock token. BONER reached roughly 12,000 holders in five days and helped make Hims a top-15 Robinhood stock token. Then, with the NYSE closed and limited Hims tokens available on-chain, $HIMS briefly traded at $132 versus a $28.75 NYSE close. Token supply jumped from roughly 20,000 to 80,000 in 72 hours. Eric and Yoni both stress that BONER is highly speculative and could go to zero. But Eric's longer-term thesis is that every major tokenized stock could eventually develop its own memecoin community. 00:00 - Sponsor: Superpower 01:27 - Why should Hims investors care? 03:35 - 12K Boner holders in five days 06:00 - Why buy Boner instead of the stock token 14:31 - 99% of meme coins go to zero 19:00 - Open pairing: Boner-Hims 22:27 - $132 on chain vs $28.75 on the NYSE 26:44 - Could this trigger a short squeeze? 34:06 - Has anyone at Hims called? 36:25 - Every major stock gets a meme coin community 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.

    HIMS stock token hit $132 on Robinhood over the weekend due to ... $BONER coin?! 😳

  5. Sep 2

    🚨 THE FTC SUES HIMS & HERS -- Full breakdown with Gaston Kroub

    Thanks to our partner:Superpower - https://superpower.com Jonathan Stern talks with Gaston Kroub, founding partner of K2K Law, registered patent attorney, and Hims House's resident legal expert on his third appearance, about the FTC's July 29 federal complaint against Hims & Hers. Kroub calls the filing a public "marketing document" aimed at a quick settlement and ranks three allegation buckets: health data sharing with Meta and Snap as the most exposure, hard cancellation under ROSCA (Restore Online Shoppers' Confidence Act) second, charging before a real consultation as the least dangerous. The case is in the Northern District of California before Judge Vince Chhabria; an overbroad sealing request triggered an order to show cause that was later lifted with a warning, and Hims' response is due Sept. 28 with an initial case management conference Oct. 30. They walk through Hims' defense lineup at BakerHostetler and Keker Van Nest & Peters, treat the $62.5M legal accrual as likely the low end of a settlement, and cover co-plaintiffs Utah and LA County. His likely path is a payment plus operational changes; absent a deal, litigation could run years, and he treats the Visa chargeback spike as a minor narrative risk. 00:00 - Sponsor: Superpower 01:35 - Complaint is a "marketing document" 03:52 - He ranks the three buckets 08:15 - Amazon Prime and Uber first 11:53 - ROSCA stretched to health data 17:12 - Northern District of California and Judge Chhabria 19:44 - Overbroad sealing nearly got sanctions 23:57 - BakerHostetler and Keker 26:12 - The $62.5M legal accrual 27:32 - A Motion to Dismiss costs six figures 28:51 - $50M floor, nine-figure ceiling? 30:31 - Utah and LA County 33:06 - Pay, plus changes to the flows 35:46 - Would Ro and Noom have to follow? 38:00 - Why Hims, not Ro 39:42 - Visa's chargeback watchlist 43:03 - Worst case vs most likely scenarios 48:41 - Next steps in the case 51:23 - Change the flows now, or wait? 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.

    🚨 THE FTC SUES HIMS & HERS -- Full breakdown with Gaston Kroub

  6. Aug 26

    Bijan Salehizadeh - Eli Lilly's War on Compounded GLP-1s, Peptides, Retatrutide, and Hims vs Ro

    Thanks to our partner:Superpower - https://superpower.com In episode 77, Jonathan Stern talks with Dr. Bijan Salehizadeh -- physician and managing director of NaviMed Capital, former pharma venture investor, founding investor in Auris Health. Bijan holds no position in HIMS. The conversation opens on the FDA: why Heidi Overton is "moldable clay," her 30-40% confirmation odds, and why pharma prefers interim commissioner Kyle Diamantis. They then move to Eli Lilly's multi-front war on compounded GLP-1s, the ReviveRx suit, the effort to pull semaglutide and tirzepatide off the 503B bulks list, and Bijan's theory of a "grand bargain" trading compounding restrictions for Medicare pricing cooperation. He walks through the retatrutide biologic fight ahead of the September 24th appellate argument in Chicago, and why Hims' 76% gross margins are gone for good as branded dispensing grows. They close on peptides: Bijan has heard Category 1 rulemaking *could* come as soon as November, and he thinks the market could be 10x bigger than current estimates. 00:00 - Sponsor: Superpower 01:16 - No one knows anything about Heidi Overton (FDA nominee) 06:29 - Eli Lilly's war on 503A pharmacies 08:47 - The Lilly "grand bargain" 13:49 - When compounding becomes a "new drug" 17:34 - Branded drugs crush margins 21:51 - Hims management scorecard 26:29 - Retatrutide reclassification fight 35:10 - Suing the reta gray market vendors 37:06 - Why the Wegovy pill is beating Foundayo 40:56 - Europe is a second-tier market 42:15 - Can LillyDirect beat telehealth? 46:14 - Peptides Wild West 50:51 - Category 1 by November? 52:40 - Peptides market 10x bigger than estimates 55:56 - Will Ro go public? 58:34 - Bullish $HIMS long term 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.

    Bijan Salehizadeh - Eli Lilly's War on Compounded GLP-1s, Peptides, Retatrutide, and Hims vs Ro

  7. Aug 7

    Enhanced Group CEO: Hot peptide summer is coming — but likely not till 2027

    Thanks to our partner:Superpower - https://superpower.com Max's recent essays on peptides: https://maximilianbmartin.substack.com/p/six-peptides-one-signal-washington https://maximilianbmartin.substack.com/p/the-peptide-moment-is-here-enhanced In episode 76 of Hims House, Jonathan Stern hosts Maximilian Martin, CEO of Enhanced Group ( $ENHA ), the newly public company behind the Enhanced Games and the Live Enhanced telehealth platform. Martin grades the inaugural games ten weeks out — 42 athletes, 21 personal bests, one world record, and $32M in contracted sponsorship — and argues the 40% stock price selloff that occurred after the Games is misplaced. He recounts his week in Washington D.C., around the FDA compounding advisory committee, where six of seven peptides were recommended, and explains why Enhanced will wait on FDA’s formal rulemaking to start selling peptides. He concedes peptides are essentially a “commodity”, so the edge has to come from brand and personalized protocols. Also covered: whether big pharma is quietly slowing things down, how big the market for peptides could be, and Enhanced’s recent supplements launch in 33 new countries. 00:00 - Sponsor: Superpower 
 01:38 - The Enhanced Games: an honest scorecard
 06:35 - Why $ENHA stock fell 40%
 10:13 - The athlete-led flywheel
 11:52 - Why he flew to Washington for peptides
 18:07 - Six of seven peptides recommended
 20:21 - How long will FDA rulemaking take? 
 22:51 - Where the peptide moat actually is
 30:16 - Is big pharma slowing down peptide approval? 32:14 - Being first vs being best
 40:33 - Could peptides be a $10B market in 2027? 
 46:00 - Enhanced now live in 33 new markets
 50:25 - Life as a public company CEO 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.

    Enhanced Group CEO: Hot peptide summer is coming — but likely not till 2027

  8. Jul 27

    🚨 FDA committee votes "YES" on 6 of 7 peptides — here's what happens next, with Dr. Alex Tatem

    Thanks to our partner:Superpower - https://superpower.com In episode 75 of Hims House, Jonathan Stern talks with Dr. Alex Tatem, a board-certified urologist who has worked with peptides for 12 years and paid his own way to Silver Spring, MD, to testify on all 7 peptides before the FDA's Pharmacy Compounding Advisory Committee. The panel overruled the FDA's own scientists and recommended six of seven for the 503A Bulks List — DSIP the lone no — and Tatem describes what the national media coverage missed: specifically, briefing documents that omitted the peptide data entirely. He explains why the recommendation isn't binding, why a final rule could take months or years, and how limits on route of administration could hollow out the win. On the business side: why Hims and Noom will wait for final rulemaking while smaller players roll the dice, the API landscape, and the market dynamics of BPC-157 once approved. 00:00 - Sponsor: Superpower 01:37 - What it was like in the room of the FDA 05:53 - Briefing documents OMITTED the data 11:33 - The one "NO" vote 17:33 - Why the win isn't binding 21:33 - Rulemaking timeline: likely months or years 24:19 - RFK vs the FDA bureaucracy 28:06 - Who will sell peptides before final rulemaking 31:34 - Hims likely won't 34:43 - Peptide marketing claims 40:18 - Every raw material (API) comes from China 45:23 - BPC under $100 a month? 48:29 - Where was Ro? 50:08 - The best argument *against* peptides 55:12 - Peptides will be an economic gold rush 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.

    🚨 FDA committee votes "YES" on 6 of 7 peptides — here's what happens next, with Dr. Alex Tatem
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Ratings & Reviews

5
out of 5
8 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
    82
  • Rating
    Clean
  • Copyright
    © Jonathan Stern
  • Show Website
    Hims House

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