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Telehealth exploded during the pandemic, and the shift wasn’t temporary. According to research from McKinsey, virtual care usage remains 38 times higher than pre-pandemic levels, and telehealth is projected to grow from $186.41 billion in 2025 to $791.04 billion by 2032. Breaking into a complex market isn’t about being first. It takes the courage to start, a network of specialized expertise, and a vision bold enough to sustain the journey. On a recent episode of The Big Idea from Yahoo Finance, I sat down with Joe Spector—co-founder of telehealth service Hims & Hers and founder of tele-veterinarian Dutch—to discuss what it really takes to break into highly regulated industries. Yes—Viagra and pets. Spector’s perspective on navigating difficult systems comes from more than business. He immigrated to the United States from the Soviet Union at age 10. His family is Jewish and fled due to religious persecution. They spent time in a refugee camp in Italy and arrived in America with no money and only the clothes they carried. From there, he went on to attend UC Berkeley, work on Wall Street, earn his MBA, and ultimately become an entrepreneur. His path into entrepreneurship was not built on advantage, but on moving through barriers long before he entered health care. With that foundation, Spector turned to the lessons that carried him through some of the most challenging industries to enter. Featured Video An Inc.com Featured Presentation Jump in For founders in complex markets, momentum begins with movement. Research is important, but at some point, progress depends on making decisions without complete certainty. Experience is how you move forward. “You just have to do it, and then you have to do it again, and again and again,” Spector said. “The only way you’ll learn is by executing.” Build your network Spector recommends that you surround yourself with smart people. “One of the first lessons learned when I started is I didn’t have enough of a network of people around me for the things I wasn’t good at,” he explained. “At this point, I have such a solid network and that’s what’s allowed me to build this incredible team here at Dutch.” An entrepreneur’s network extends across disciplines, including marketing mavens, engineers, clinicians, and legal experts, each essential in a field where the product must be both trusted and technically sound. In regulated industries, expertise is not optional. Instead, it’s what makes growth possible. Dream big Ambition alone does not guarantee entry into a complex market, but you need a vision large enough to justify the work. “I love what I do. With Dutch, when we have people who otherwise have no care for their dog and now for $10 a month have access to care, it’s the best feeling ever,” Spector said. “You have to dream bigger than yourself, bigger than you ever imagined.” Breaking into a complex market is not about disruption for its own sake. It is about proving you can operate with responsibility, credibility, and endurance. The founders who win in these industries are not the loudest. They are the ones who dream big and do the work, learn the rules, and build something strong enough to outlast them.
