280: Cindy Eckert on Making Women Really Rich

— Cindy Eckert built and sold two pharmaceutical companies: Slate (testosterone product) and Sprout Pharmaceuticals (female sexual desire medication), the latter for $1 billion in cash upfront.

— She fought the FDA after an initial rejection, disputed the decision through the agency's appeals process, won overwhelming panel approval, and announced the $1 billion acquisition two days later.

— The acquirer ran into legal trouble, deprioritized Sprout, shelved the drug, and dismantled her team; Eckert later sued in Delaware court and recovered the company and drug while keeping the $1 billion.

— She has since invested in women-focused businesses through Pinkubator and the Pink Ceiling, focusing on disrupting the mindset of who receives venture capital and launching companies aimed at women's health and wealth.

— Eckert emphasizes company culture built on ownership mentality, hiring "misfits," and six core values: quirky, bold, ownership-minded, learner, family, and appreciative.

— She relaunched Sprout with a telemedicine model allowing women to consult doctors via video from home, with prescriptions shipped directly, ahead of industry trends accelerated by COVID-19.

— Focus on building genuine company culture around ownership: treat all employees as owners with equity and skin in the game, which drives accountability and long-term commitment across leadership transitions and multiple ventures.

— Be willing to dispute unfavorable decisions when you have strong data; Eckert's willingness to challenge the FDA's rejection and pursue a formal appeal resulted in overwhelming approval and validated her scientific claims.

— Telemedicine and direct-to-consumer models remove friction from regulated industries; Eckert's shift to at-home consultations with home delivery mirrors successful models (Dollar Shave Club, Warby Parker) and aligns with consumer behavior and regulatory evolution.