First Builders
The First Builders Podcast from The Council dives into the stories of those who go first—founders, funders, and early operators who helped build category-defining companies before they were household names. Hosted by General Partner Amber Illig and Partner Rachel Tsui, each episode brings a candid, practical conversation with someone who has helped shape companies before there was a playbook.
First Builders
IPO-Level Bets: Dan Perez on Building Hinge Health from Zero to $400M ARR
Dan Perez is no stranger to high-stakes decisions. From walking away from an Oxford PhD program to scaling a digital health company through one of the most successful IPOs in recent years, Dan’s story is a masterclass in vision, conviction, and long-term thinking.
In this episode of First Builders, Dan joins Amber and Rachel to unpack the origin story of Hinge Health—a digital MSK care platform now serving over 20 million lives and generating nearly $400M in ARR. They dig into what made Hinge stand out in a noisy category, how he and co-founder Gabriel Mecklenburg kept their partnership strong across a decade of scale, and why Dan believes great leadership is about playing the long game.
They also explore:
– The strategy behind going public in a tough market
– The evolution of AI-powered care models
– The frameworks Dan uses for internal bets and efficiency
– Lessons on co-founder dynamics and intentional leadership
Whether you’re building in digital health or just trying to scale with clarity, Dan’s story is packed with insight.
Follow Dan Perez
LinkedIn: https://www.linkedin.com/in/danielaperez
Company: https://www.hingehealth.com
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Your Hosts:
Amber & Rachel
Instagram: @thecouncilcapital
Twitter/X: @first_builders_
LinkedIn: The Council
TikTok: @firstbuilderspod
Show Notes:
- Hinge Health IPO Coverage (2025): $400M ARR, 81% gross margin, 20M+ lives supported - Hinge Health files for IPO, riding strong ARR and MSK growth (Bloomberg News) (SEC filing)
- Co-founder dynamics and long-term startup partnerships
- Books mentioned:
- Competition Demystified by Bruce Greenwald
- High Output Management by Andrew Grove
- Innovator's Prescription by Clayton Christensen