Episode 213

🧬 People Over Place: A Lesson in Career Success | Caleb Appleton (Part 2/4)

"People outweigh challenging environments. A great environment cannot outweigh challenging people." In this episode of The Biotech Startups Podcast, Partner at Bison Ventures, Caleb Appleton returns for Part Two to share how early research experiences in nanotechnology, genome editing, and concussion biomechanics pushed him to question whether engineering could solve problems with poorly defined constraints, ultimately steering him away from academia and toward management consulting. After a transformative summer in Portland sparked his commitment to prioritize lifestyle and location, Caleb landed at Bain by cramming Case in Point in seven days, where he learned to parachute into ambiguous Fortune 500 business problems and rapidly structure high-stakes analyses—skills that now underpin his venture capital work. He reflects on the crucial role of mentors and teammates who reinforced his conviction that people matter more than any opportunity, and recounts the unexpected ten-day whirlwind that pulled him from a clear promotion path in Atlanta to join Eric Schmidt's Innovation Endeavors in San Francisco, embracing serendipity despite tripled rent and an uncertain future.

The Biotech Startups Podcast · Excedr

February 5, 202630m 22s

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Show Notes

"People outweigh challenging environments. A great environment cannot outweigh challenging people."

In this episode of The Biotech Startups Podcast, Partner at Bison Ventures, Caleb Appleton returns for Part Two to share how early research experiences in nanotechnology, genome editing, and concussion biomechanics pushed him to question whether engineering could solve problems with poorly defined constraints, ultimately steering him away from academia and toward management consulting.

After a transformative summer in Portland sparked his commitment to prioritize lifestyle and location, Caleb landed at Bain by cramming Case in Point in seven days, where he learned to parachute into ambiguous Fortune 500 business problems and rapidly structure high-stakes analyses—skills that now underpin his venture capital work. He reflects on the crucial role of mentors and teammates who reinforced his conviction that people matter more than any opportunity, and recounts the unexpected ten-day whirlwind that pulled him from a clear promotion path in Atlanta to join Eric Schmidt's Innovation Endeavors in San Francisco, embracing serendipity despite tripled rent and an uncertain future.

Key topics covered:

Rethinking academia: How hands-on experiences in biology, biomechanics, and concussion research led Caleb to question a PhD-focused career path.
Constraint-driven problem solving: Why poorly defined scientific problems made him rethink engineering as a route to impact.
Discovering consulting and Bain: From last-minute case-interview prep to thriving in a high-caliber, high-expectation environment.
The power of people and mentorship: How managers, peers, and long-term relationships shaped his growth and decision-making.
Jumping into venture capital: Leaving a secure promotion at Bain to join Innovation Endeavors in San Francisco and embrace career serendipity.

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Find our guest, Caleb Appleton at these links:

LinkedIn: https://www.linkedin.com/in/caleb-appleton-86563484/

Website: https://www.bison.vc/

Find our host, Jon Chee, at these links:

LinkedIn: https://www.linkedin.com/in/jonchee

Learn more about Excedr:

LinkedIn: https://www.linkedin.com/company/excedr/

Website: https://www.excedr.com

Intro & Outro Songs Created by OkKyojin, Owned by Excedr:

Website: https://flow.page/kyojin

Resources & Articles:

Case in Point by Marc Cosentino:

https://www.barnesandnoble.com/w/case-in-point-11-marc-patrick-cosentino/1137400320

Venture Deals by Brad Feld and Jason Mendelson:

https://www.shortform.com/blog/venture-deals-book/

CRISPR Genome Editing Basics:

https://www.synthego.com/learn/crispr/

Nanotechnology and Genome Editing: https://www.diversatechnologies.com/how-nanotechnology-can-overcome-current-limitations-in-gene-editing-with-viral-vectors/

Understanding Venture Capital Funding: https://www.investopedia.com/terms/v/venturecapital.asp

Companies, Universities, & People mentioned:

Bain & Company: https://www.bain.com

Innovation Endeavors: https://www.innovationendeavors.com

Georgia Tech (Georgia Institute of Technology): https://www.gatech.edu

Eric Schmidt: https://www.linkedin.com/in/eric-e-schmidt

Brad Feld: https://www.linkedin.com/in/bfeld

Timestamps:

00:00 Intro

02:07 Rethinking the PhD Path Through Undergraduate Research

04:19 Early Machine Learning Project on Horse MRIs

06:25 Summer in Portland Working on Concussion-Reducing Bike Helmets

10:05 Realizing Academic Research Wasn't the Right Long-Term Path

11:51 Falling in Love with the Pacific Northwest and Location Flexibility

13:39 Learning About Consulting and Landing at Bain

17:21 What It's Like Working at Bain as a Junior Consultant

20:29 Mentors and Relationships from Consulting

23:22 The Unexpected Move to Venture Capital

26:30 Making the Big Decision to Move to San Francisco

28:59 Outro

The Biotech Startups Podcast gives you a front-row seat to the business and science of building a biotech. Hosted by Jon Chee, CEO of Excedr, the show features honest conversations with founders, execs, and investors about their work, their companies, and how they got there. From scientific breakthroughs to startup lessons, each episode explores what it really takes to grow a life science company—from pre-seed to IPO.

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