#136 Primetime Partners: AgeTech, The Ripple Effects of Living Longer, and Investing in the Future of How We Age | Abby Miller Levy, Co-Founder & Managing Partner

About Primetime Partners

“I hope we have a society that isn't plagued by obesity and diabetes because people are excited to live longer and are therefore making trade-offs when they're younger to enjoy a longer, healthier life.” – Abby Miller Levy

Abby Miller Levy is Co-founder and Managing Partner of Primetime Partners, which is a new venture capital firm that specializes in AgeTech, or investing in technology around the future of how we age.

As you'll hear in this interview, the latest data and statistics around aging are almost too hard to believe. Here are just two data points. As of 2007, it's expected that about half of all babies born will live to be over 100 or become what are called centenarians. And by 2024, it's expected that workers aged 55 or older will represent a full 25% of the nation's workforce, with the fastest annual growth rates among those aged 65 and older. And yet, before Primetime Partners was founded by Abby Levy and venture legend Alan Patricof of Greycroft and Apax Partners fame, there were no venture firms focused solely on aging and enabling the technologies, products, and businesses we'll need to support an aging population.

For more, explore the transcript of this episode.

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Chapters

This episode is our definitive guide to AgeTech and investing in the future of how we age. In it we cover:

(00:00:00) – Introduction
(00:03:00) – From business building at OXO and SoulCycle to becoming an accidental investor
(00:07:58) – The compelling white space of the senior market
(00:19:22) – Focusing on seed to Series A and launching incubations
(00:22:15) – Consumer behavior and employment opportunities in the aging population
(00:29:16) – Maximizing today vs. planning for tomorrow
(00:37:18) – Housing opportunities for the senior market
(00:43:15) – Ending ageism, focusing on preventative healthcare, and embracing multiple careers

Listen to the episode on Apple Podcasts, Spotify, Overcast, Google Podcasts, Amazon Music, Castbox, Pocket Casts, Player FM, Podcast Addict, iHeartRadio, or on your favorite podcast platform. You can watch the interview on YouTube here.

Our Favorite Quotes

Here are a few ideas we'll be thinking about weeks and months from now:

“Having worked in nonprofit, having been exposed to government, you just really underestimate, particularly in America, how amazing our business sector is. It's where it happens, so I think that's why in some ways it's just a foregone conclusion that I would always work in business.”
“Especially for someone like me who's kind of used to pretty high marks and success rate, you have to just bear with it when you fundraise, that there's just going to be some conversations where it's just not in their investment theme. They don't do venture or now's not the right time, and so you have to be okay with some nos.”
“As we age, we only get more idiosyncratic. So figuring out who the micro segments are within an aging population is really, really important.”
“Our obstetrician gynecologists are trained on fertility and birth. Less than 5% are trained on menopause.”
“The opportunity is in this gap between 55, 60, and death. What are the businesses that support what that experience is? And it's across every aspect of life.”
“As humans we want to maximize today, we don't want to plan for tomorrow. That's just kind of an instinctual reflex that we all have. And the single best thing that we can do as younger people is to maximize our 401(k)s or any retirement plan, because it is the only free money we get.”