Five-time Midas List investor Annie Lamont has seen every healthcare cycle since the genomics revolution. Now, as co-founder of Oak HC/FT and early investor in category-defining companies like One Medical, Athena Health, and Devoted Health, she believes 2025 could mark the return of animal spirits to healthcare investing. In this forward-looking conversation, Annie shares why AI might finally deliver on technology's promise to transform American healthcare, even as she warns entrepreneurs to watch out for the "revenge of the incumbents."

From the return of "historic norms" in funding to the rise of AI and strategic pharma partnerships, 2024 was quite the year for digital health. Rock Health Advisory CEO Megan Zweig joins us on this episode to unpack a year defined by resilience, consolidation, and the 'revenge of the Goliaths.' We look at the funding data, reveal how the industry's unicorns survived their valuation hangovers, and share why 2024 might be remembered as healthcare's boiling point.