100% of Nothing is Nothing with Raymond Cohen

Raymond Cohen has spent 40+ years in medtech, never at a big company but always building. After taking Axonics from whiteboard to $500M in revenue and a Boston Scientific exit, he's now chairman of multiple high-growth ventures.In this episode, he breaks down what actually makes a company acquirable, why founders need to get over their fear of dilution, and the immigrant work ethic that's driven his entire career.

Key Topics:

Why Boston Scientific is outpacing every other strategic acquirer right nowThe "go big or go home" fundraising philosophy behind Spyro Medical's $67M Series A

What "having the goods" actually means and why most founders don't know if they have them

Raymond's criteria for joining a board: clinical problem, addressable market, and the right people

How LSI is filling the gap JP Morgan left for private medtech companies

Related Insights:

Neuromodulation as a pharmaceutical replacement: the Spyro asthma thesis

Cuffless ambulatory blood pressure monitoring and the BioBeat opportunity

Why the best people won't work for paper and how to structure equity properly

The "tone from the top" principle and cutting underperformers early

Core Challenges:

Founders are paralysed by dilution fear, leading to undercapitalisation and slow execution.

Raymonds's view: sell 85% on day one if that's what it takes to win.

Too many startups pursue incremental innovation or enter crowded markets "the fifth person in a four-man race."

Strategic acquirers beyond Boston Scientific have been passive, limiting exit options and slowing capital recycling in the ecosystem.

🎧 Tune in now to hear how a 40-year medtech veteran thinks about building, buying, and betting big.