Snapshot · The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
In roughly 8 weeks, Curative's Gwen agent signed 3,500 provider contracts — more than the entire human team's output of 2,300 contracts in all of last year.
Where this was said
At 53:30 · chapter starts 48:00
Harry asks whether legacy health insurers are structurally disadvantaged by their inability to rapidly build AI agent capabilities. Fred's answer is blunt: yes, the biggest insurers will struggle. It's not primarily a technology problem — they could hire the engineers. It's an organisational problem. If you have 100,000 employees and AI can replace 50,000 of them, the executives whose fiefdoms just got cut in half will resist at every turn. Change will happen, but over ten years rather than three. Curative, building from a smaller base with a technical culture, can compress that timeline dramatically. The conversation turns to the structural economics of health insurance: 85% of every premium dollar must by law go to care costs, meaning the only way to grow profits is to grow total spending — a perverse incentive Fred traces directly to the ACA's medical loss ratio provision [1] — Fred Turner "Insurance: 85% MLR mandated by law: US law mandates that health insurers spend at least 85% of collected premiums on care, capping their pr…" 49:13 . AI changes this equation: it can deliver better margins within the 15% admin budget rather than requiring increased total spending. Fred then makes his boldest prediction: Anthropic could be worth $10 trillion. His basis is direct — Curative's Anthropic spend has grown 6x every month for the past 6-7 months, from tens of thousands to millions of dollars, as the team keeps discovering new use cases faster than they can deploy them. Gwen, their provider contracting agent, sends 15,000 customised emails every day and follows up relentlessly — the thing Fred says humans can't scale because most salespeople give up after three attempts.
US law requires health insurers to spend 85% of premiums on care. Sounds good. But it means the only way to grow profits is to grow total spending — the exact opposite of what the system should incentivise. Fred Turner calls it one of Obamacare's most damaging second-order consequences.
US law mandates that health insurers spend at least 85% of collected premiums on care, capping their profit margin and incentivizing higher total spending.
Curative's monthly Anthropic spend has been growing 6x every month for the past 6-7 months, from tens of thousands to millions of dollars per month.
Curative's AI agent Gwen finds provider practices, researches them, emails them with personalised outreach, negotiates rates, redlines contracts using AI-generated Python, and signs the final agreement — at a cost of $70 versus $1,500-$2,000 with humans. In 8 weeks, she completed 3,500 contracts. The entire human team did 2,300 in all of last year.
Curative's AI agent Gwen increased provider network contracting speed from ~100 contracts per week to ~100 contracts per day.
With Gwen, the average cost per provider contract fell from $1,500-$2,000 with human teams to about $70 with the AI agent.
PropGPT averaged 20 downloads per day right after launching on the App Store through influencer marketing.
Eyal and Yali shut down all marketing and spent 4 months completely rebuilding PropGPT from scratch.
PropGPT has accumulated over 40,000 total downloads since launch.
PropGPT's large language model (AI) operating costs are just $20 per month, and the cost is continually falling.
Ad-based monetization works well for game apps where users spend extended time in-session, as seen with Grid and Wordle.
Tool-focused apps like PuffCount are poor candidates for ad monetization because users don't stay in-session long enough.
A hard paywall is a screen that blocks all app features unless the user pays or starts a free trial — it cannot be dismissed.
Mobile apps are primarily monetized through either ads (best for games) or in-app purchases/subscriptions (best for tools).
According to the episode, YouTube outperforms every other social platform for building trust and driving SaaS conversions.
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