Office Hours Podcast: GoodRx Makes Prescription Drugs More Affordable

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

Office Hours Podcast: GoodRx Makes Prescription Drugs More Affordable
Photo by Isaac Quesada on Unsplash

It became a kind of game.

Doug Hirsch, cofounder and co-CEO of GoodRx, needed to get a prescription filled. His pharmacy said it would cost a whopping $500. On a whim, Doug crossed the street to check out a different drugstore, and found the price offered was half as much. Intrigued, he went to another pharmacy and found yet another price.


In conclusion, there was no clear reason why the drug prices fluctuated so much. Pharmacists could not explain why.

The discovery of unpredictable and opaque prescription drug pricing led Doug to co-found Santa-Monica based GoodRx in 2011. It's a company that compares prescription drug prices and allows members to use free coupons to purchase steeply discounted prescriptions. Doug says GoodRx has saved Americans over $20 billion in prescription drug fees.



On this episode of my Office Hours podcast, hear Doug and I discuss how he built his business slowly and steadily, the ways in which paranoia keeps him on his toes — and why naiveté is an entrepreneurial strength.

dot.LA Sr. Podcast Producer & Editor Laurel Moglen contributed to this post.


Want to hear more of L.A. Venture? Listen on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

https://twitter.com/spencerrascoff
https://www.linkedin.com/in/spencerrascoff/
admin@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

How Real-Time Data Is Helping Physicians Track Their Patients, One Heartbeat at a Time

S.C. Stuart
S.C. Stuart is a foreign correspondent (ELLE China, Esquire Latin America), Contributing Writer at Ziff Davis PCMag, and consults as a futurist for Hollywood Studios. Previously, S.C. was the head of digital at Hearst Magazines International while serving as a Non-Executive Director, UK Trade & Investment (US) and Digital Advisor at The Smithsonian.
How Real-Time Data Is Helping Physicians Track Their Patients, One Heartbeat at a Time

Are you a human node on a health-based digital network?

According to research from Insider Intelligence, the U.S. smart wearable user market is poised to grow 25.5% in 2023. Which is to say, there are an increasing number of Angelenos walking around this city whose vital signs can be tracked day and night via their doctor's digital device. If you've signed up to a health-based portal via a workplace insurance scheme, or through a primary care provider's portal which utilizes Google Fit, you’re one of them.

Do you know your baseline health status and resting heartbeat? Can you track your pulse, and take your own blood pressure? Have you received genetic counseling based on the sequencing of your genome? Do you avoid dairy because it bloats, or because you know you possess the variant that indicates lactose intolerance?

Read moreShow less

Who Will Win LA's E-scooter Wars?

Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
Who Will Win LA's E-scooter Wars?
Evan Xie

Los Angeles — it’s not just beautiful weather, traffic and the Hollywood Walk of Fame — it’s also the largest shared micromobility market in the U.S. with six operators permitted to deploy up to 6,000 vehicles each.

And despite the open market policy, the competition shows no signs of slowing down.

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending