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. Cremieux - Half of America could be on GLP-1s by 2030 (and why peptides are probably overhyped)

    3d ago

    Cremieux - Half of America could be on GLP-1s by 2030 (and why peptides are probably overhyped)

    In episode 69 of Hims House, Jonathan Stern welcomes back researcher and data analyst Cremieux to take stock of the GLP-1 and peptides market. Cremieux points to Epic's new EHR dashboard as the best live read on adoption, backing estimates that roughly one in eight adults are on GLP-1s and one in five have tried them -- with cost and stigma holding back uptake until semaglutide generics arrive around 2031. They also dig into the next wave of GLP-1s, spotlighting glucagon combos like servadutide and mazdutide for dramatic liver-fat reductions, plus retatrutide's standout weight-loss numbers. Cremieux pushes back on the claim that retatrutide preserves muscle and throws cold water on peptide hype, especially BPC-157, while flagging thymosin alpha-1 as the one with the most real clinical support. They close on why wearables rarely change behavior, and whether Ro will ever go public. 00:00 - Sponsor: Superpower 01:37 - What America looks like in 2030 03:58 - How many Americans are on GLP-1s today? 05:46 - Why price still keeps people off GLP-1s 06:32 - Generic GLP-1s in 2031 09:30 - The next-generation of GLP-1s 11:02 - GLP-1 effect on fatty liver disease 15:48 - Could the FDA fast-track retatrutide? 17:15 - The oral GLP-1 war: Wegovy Pill vs Foundayo 21:04 - Is it a myth that reta preserves muscle? 25:05 - ADA conference takeaways 27:23 - Why GLP-1s are likely safe over the long term 31:55 - BPC-157's thin evidence + cancer risk 35:12 - Which peptides actually have the most evidence 38:20 - Peptides market dynamics 41:29 - Why wearables usually don't change behavior 46:10 - Will Ro go public? 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.

    48 min
  2. Sagar & Sahil Chopra - Founders of Empower Sleep on AI-powered sleep care and the Hims opportunity

    May 26

    Sagar & Sahil Chopra - Founders of Empower Sleep on AI-powered sleep care and the Hims opportunity

    In episode 68, Jonathan Stern hosts Sagar and Sahil Chopra, founders of Empower Sleep, to unpack why sleep care is still fragmented, slow, and overly dependent on single-night testing. They explain how Empower uses multi-night diagnostics, wearable integrations, coaches, and clinicians to build a fuller picture of what is actually driving poor sleep. They also discuss how weight loss, GLP-1s, alcohol, congestion, and physiology changes can alter sleep therapy over time. Finally, they explore how Hims could enter sleep through diagnostics, targeted treatments, cash-pay CPAP, and AI-enabled longitudinal care. 00:59 - Background on Empower Sleep 07:41 - Why sleep care is broken 11:12 - The single-night testing flaw 15:02 - Medical-grade sensors vs wearables 20:08 - Empower’s patient journey 28:29 - The sleep market opportunity 36:29 - How Hims could enter sleep 46:02 - Future of sleep tech 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
  3. Eli Dorf (Bask Health) - What is Hims’ moat if anyone can launch a telehealth startup overnight?

    May 19

    Eli Dorf (Bask Health) - What is Hims’ moat if anyone can launch a telehealth startup overnight?

    In episode 67 of Hims House, Jonathan Stern hosts Eli Dorf, founder and president of Bask Health. Bask provides the operating infrastructure for telehealth brands to launch quickly, choose pharmacy and clinical partners, route patients, process payments, and fulfill medications. Eli explains why outsourced infrastructure can let small teams scale fast, what Medvi’s rise reveals about the telehealth stack, and why he sees Hims’ strongest moat as brand trust and customer scale rather than pure technology. They also discuss pricing pressure in compounded GLP-1s, FDA enforcement, 503A compounding latitude, and why fragmentation could keep compressing margins. The conversation closes with peptides, LegitScript and payments hurdles, trusted brands, wearables, the health super app race, and whether Ro could go public. 00:00 - Sponsor: Superpower 02:18 - What Bask Health does 03:19 - Launching a telehealth brand overnight 07:21 - Can anyone copy Hims? 14:28 - Bask's business model 16:28 - Fragmentation hits telehealth margins 19:48 - Medvi’s cautionary tale 21:56 - What are Hims’ real moats 25:29 - Data, AI, and wearables 26:39 - Should Hims sell hardware? 30:15 - FDA pressure on GLP-1s 33:44 - Peptides as the next GLP-1 moment 36:48 - Payment processing and LegitScript 41:05 - Why peptide trust matters 43:52 - The health super-app race 47:44 - Ro vs Hims 50:45 - Will Ro go public? 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.

    56 min
  4. Brian Birnbaum - Hims & Hers Q1 earnings breakdown and the long-term bull case for Hims

    May 13

    Brian Birnbaum - Hims & Hers Q1 earnings breakdown and the long-term bull case for Hims

    Thanks to our partner: Superpower - https://superpower.com Subscribe to Hims House: https://himshouse.com Brian's excellent essay on Hims: https://thepsychoanalyst.substack.com/p/protect-this-hims-house Follow us: https://x.com/himshouse https://x.com/jonathanrstern https://x.com/therealbirnbaum In episode 66 of Hims House, Jonathan Stern hosts Brian Birnbaum, “The Psycho Analyst,” for a post-earnings breakdown of Hims & Hers’ Q1. They unpack the transition to branded GLP-1s, the $608M in revenue (and y/y U.S. revenue decline), lower gross margins, subscriber net new adds, and why guidance matters more than the headline numbers. Brian argues Hims is still a venture-style bet, as they discuss all of the factors that will shape the next phase. They also discuss Ro’s momentum, peptides, Hims as an AI doctor / healthcare "operating system", wearables, insider selling, and valuation. The episode closes with Brian’s broader market outlook and why he remains bullish despite volatility, short pressure, and execution risk. 00:56 - Meet Brian Birnbaum 01:51 - Why “The Psycho Analyst” 03:03 - Market psychology and Hims 04:38 - Q1 numbers that actually matter 07:07 - Bullish revenue guidance 07:56 - Gross margins 10:17 - Testosterone and Wegovy scale 13:26 - Branded GLPs 14:30 - Subscribers, churn, and Q2 guidance 19:02 - Novo lawsuit aftermath 21:41 - Volatility and conviction 23:53 - Why Brian trusts Andrew 25:25 - International risk and Ro pressure 28:22 - Ro’s domestic momentum 31:08 - Is Ro preparing to IPO? 32:14 - Peptides 34:39 - Why best beats first 36:34 - Speed 40:40 - The AI doctor thesis 41:19 - Wearables 46:59 - Insider selling 50:30 - Valuing a venture-stage public company 52:35 - Broader market outlook 58:33 - Final takeaways 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 #hims #peptides #glp1 #retatrutide #tirzepatide #semaglutide

    59 min
  5. Mansi Hukmani - The #1 peptide Substacker on peptide culture, supply-chain race & coming gold rush

    Apr 30

    Mansi Hukmani - The #1 peptide Substacker on peptide culture, supply-chain race & coming gold rush

    In episode 65 of Hims House, Jonathan Stern talks with Mansi Hukmani, founder of Chief Longevity Officer, about how peptide culture moved from biohacker circles into the next big frontier for telehealth. Mansi explains how New York, San Francisco, London, and Dubai each approach longevity culture differently, and why distrust in traditional healthcare has helped peptides feel more like a movement than a product category. They discuss her own experience with retatrutide, the coming FDA regulatory milestones, and why reclassification could unleash a wave of clinics, compounders, and telehealth players. The conversation then turns to the real bottleneck: supply chain control, especially China’s dominance in protected amino acids and peptide synthesis. Mansi argues the winners may not be first to market, but first to secure manufacturing, data, and trust at scale. 02:09 - The #1 peptide substacker 03:45 - Inside peptide culture 06:30 - NAD+ shots and different form factors 08:20 - Peptide culture across cities 10:54 - Dubai’s longevity gold rush 12:21 - Why peptides feel a little like crypto 16:41 - Mansi’s peptide experiments 19:50 - FDA timeline for peptide reclassification 24:46 - Why supply chain wins 26:11 - The synthesis bottleneck 28:15 - China’s scale advantage 30:29 - Why Hims bought CS Bio 31:39 - State laws 33:57 - Who wins the peptide rush 36:51 - Pricing power, tariffs, and trust 41:53 - Why gray markets persist 45:01 - Peptides with real LTV 47:51 - The Flatiron Health for peptides 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.

    50 min
  6. Enhanced Games - "We're ready to go" on peptides, prepping $1.2B SPAC in May

    Apr 27

    Enhanced Games - "We're ready to go" on peptides, prepping $1.2B SPAC in May

    In Hims House episode 64, Jonathan Stern hosts Max Martin & Christian Angermayer, co-founders of Enhanced, ahead of their inaugural May 24 Las Vegas games featuring track, swimming, weightlifting, and a deadlift showdown between Thor Björnsson and Mitchell Hooper. They argue that banning PEDs drives unsafe, hidden use and that openly allowing FDA-approved substances under medical supervision, paired with an IRB-approved clinical study of about 40 athletes at a top Abu Dhabi longevity hospital, is both safer and more honest. Enhanced is also building a consumer health and longevity brand selling supplements (Longer+ and Stronger+), hormone therapy, compounded GLP-1s, and approved peptides, with plans to launch more peptides immediately once the FDA reclassifies them in July. Angermayer also discusses his family office Apeiron, his psychedelics company atai Life Sciences, and the recent White House endorsement of psychedelic therapeutics. The company is going public via SPAC in early-to-mid May at a $1.2B valuation under the ticker ENHA, with founders arguing now is the right time to bring fans along as shareholders. 02:40 - The case for allowing PEDs in sports 06:19 - Prize money and equal pay 10:40 - Humans vs robots? 🤯 15:32 - Inside the Abu Dhabi clinical trial 20:07 - Why Abu Dhabi 24:04 - Launching the consumer health line 29:40 - Peptides ready to go 32:32 - Sizing the peptide market 35:42 - The shift to preventative medicine 39:56 - Double digit peptide adoption forecast 43:21 - Apeiron and the next human agenda 47:53 - Psychedelics x White House boost 51:50 - Going public to include fans 55:24 - Telehealth megacycle just starting 58:15 - Sports as customer acquisition engine 01:08:17 - Enhanced’s Longer+ formulation 01:10:57 - Biohacking roots and wrap up 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 14m
  7. David Maris - The billion-dollar opportunity for Hims that Wall Street is "sleeping" on

    Apr 22

    David Maris - The billion-dollar opportunity for Hims that Wall Street is "sleeping" on

    In this episode of Hims House, Jonathan Stern welcomes back six-time #1 ranked healthcare analyst David Maris to unpack everything that's happened at Hims since last July. They walk through the wild GLP-1 timeline -- the compounded semaglutide pill launch, Novo's lawsuit, FDA/DOJ referral, and surprise Novo partnership -- debating margins, the missing Lilly deal, and what the MEDVi scandal means for the broader compounding market. Maris shares mixed feelings on peptides ahead of the July FDA meeting, and makes the case that TRT and especially sleep are billion-dollar opportunities analysts are ignoring. He also critiques Hims' voting structure and insider selling, weighs in on the stubborn 34% short interest, and closes by revealing he's long Hims as of April 17, 2026, despite worries about what Q1 data is signaling. 02:56 - Compounded semaglutide pill saga 05:49 - The "steelman" for why Hims launched the pill 07:29 - Novo deal economics 14:29 - MEDVi scandal and wild west of GLP-1s 18:19 - Peptides going mainstream 25:57 - July FDA meeting 31:27 - TRT = billion-dollar opportunity 35:31 - Sleep Sleep Sleep Sleep 37:26 - Friction in getting diagnosed 38:04 - The CPAP supply chain problem 39:17 - How Hims could revolutionize sleep 43:04 - Eucalyptus and going global 46:16 - Cruise engineers (wtf are they building?!) 50:25 - Short interest still out of control 55:05 - Voting control and insider selling 59:46 - Valuation and Q1 warning signs 01:03:48 - Should Hims buy a teletherapy? 01:07:12 - Why Maris is long Hims 🔥 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 10m
  8. Jonah Lupton - Why peptides are so bullish for Hims & Hers

    Apr 17

    Jonah Lupton - Why peptides are so bullish for Hims & Hers

    In this episode of Hims House, Jonathan Stern sits down with Jonah Lupton, founder and CIO of FirstWave Capital and one of the largest Hims shareholders to appear on the show, to break down his bull case around peptides. Lupton argues peptides, GLPs, and testosterone make up roughly 80% of his Hims thesis, with AI as the remaining upside. They dig into the FDA's July 23-24 advisory meeting, what reclassification could mean for the gray market, and why a Lilly partnership could be bigger than Novo. Lupton also shares his personal stack, BPC-157, TB-500, NAD+, TRT, and microdosed GLPs, plus the roughly $1,500 - $2,000 a month he spends on all of it. He closes with a long-term model projecting Hims at $15B in revenue by 2035, and flags Bachem as one of the few other public ways to play peptides. 02:34 - How Jonah got into peptides 03:39 - Current Hims position 05:04 - Original Hims thesis in the teens 09:12 - FDA peptide timeline & July meeting 15:03 - Peptides are "80% of the thesis" 18:37 - Jonah's personal peptide stack 26:00 - Spending $30K a year on peptides 28:47 - Black market and WhatsApp China 30:25 - Gray market and the COA problem 31:05 - Why Hims wins on legitimacy 32:36 - Best, not first 32:54 - Frustration with Hims transparency 35:28 - Speed vs the Apple approach 37:45 - Surviving the Novo scare 42:46 - Branded vs compounded future 44:41 - Why Lilly matters more than Novo 50:18 - Valuation and the 2035 model 57:04 - Wrap up and other peptide plays 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.

    59 min
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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
    69
  • Rating
    Explicit
  • Copyright
    © Jonathan Stern
  • Show Website
    Hims House

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