Eric Lefkofsky’s Input in his Industry

As co-founder of Tempus and its CEO, Eric Lefkofsky is responsible for modernizing treatment through the use of algorithms to come up with a system that helps doctors care for their patients. At Lightbank, a fund that invests in disruptive technology, he is the managing director. Eric is also a co-founder of Groupon, which is an e-commerce hub. He is also a co-founder of Uptake Technologies, which is involved in predictive analysis. Together with his wife, he has a foundation that he co-chairs with her to help advance lives of those in the community. At Lurie Children’s hospital, he is a trustee. Another one of his engagements is chairing Steppenwolf Theatre’s trustee board in Chicago.

 

 

Accelerated Disruption

 

 

In the business world, people come up with better ideas, choices, and services, all at a good price. These kind of businesses that promise better services at great prices and convenience to the customers are referred to as disruptive businesses and are instrumental to the remaking of industries. Accelerated disruption is the development of businesses in tandem with technological advancement. The businesses that are not left behind by technology tend to have a stronghold in the market while those that waiver fail. Lefkofsky, in his book, Accelerated Distribution: Understanding the True Speed of Innovation, deals with certain startup concepts.

 

 

The choice of industry is to innovate, creating competitive advantage by understanding the concept of pain and turning it around. The author also deals with smart automations to help get the best out of people. In his book, he also addresses the mastery of product improvements. Eric also talks about how to promote your idea in the face of industry resistance, how to develop capital strategies to cushion you in the critical times of development. How to turn your customer base to your R&D people is especially smart. Conventional wisdom is not left behind in Eric’s book, as he shows how it is used to investigate disruptive ideas and test them accordingly.

 

 

Lefkofsky’s Education

 

 

Lefkofsky got his degree in education from the University of Michigan. He has a Juris Doctor from the same University’s Law School. At University of Chicago, he is an adjunct professor.

 

 

Philanthropy

 

 

Through the Lefkofsky Family Foundation, Eric and his wife are cheerful givers. In November last year, the foundation gave generously to the Robert H. Lurie Comprehensive Cancer Center. The $1 million was donated just a month after donating $ 500,000 in support of Stanford University’s gastric cancer research. The University of Michigan also received $1.2 million for cancer research. Still in November, the foundation donated an additional $250,000 for breast cancer research to Weill Cornell in New York.

 

 

 

 

What is Tempus

 

 

Lefkofsky’s contribution at Tempus, a health-tech system, is largely in building the basics needed to modernize the treatment of cancer. Using algorithms and statistical analysis, Tempus analyzes a lot of genomic data after collecting the same. All this is in an effort to help doctors provide better care: personalized medicine to patience. With Tempus data, doctors are able to come up with better treatment and care plan for patients.

 

 

The Key to Success

 

 

Eric says there is not one formula to guarantee success.Sometimes fortune has a role to play in one’s successes or failures. Building businesses entirely on the internet during this time of explosive growth has been fortunate according to Eric.

More about Eric Lefkofsky here:

Groupon Founder’s Next Move: Curing Cancer at Tempus