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6 episodes with Altimeter
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6 episodes with Altimeter
4 episodes with Altimeter
3 episodes with Altimeter
2 episodes with Altimeter
2 episodes with Altimeter
3 episodes with Altimeter
6 episodes with Altimeter
What does this President Trump's big tariff shift mean for your money? We discuss with Altimeter's Brad Gerstner. Plus, PIMCO's Richard Clarida tells us what this move might mean for the fed. And, Mohamed El-Erian from Allianz tells us how he is navigating the tariff uncertainty.
MRKT Matrix - Thursday, April 3rd Dow nosedives 1,600 points, S&P 500 and Nasdaq drop the most since 2020 after Trump's tariff onslaught (CNBC) US Emerges as Biggest Loser in Markets From Trump's Tariff (Bloomberg) Economists Slash US Growth, Boost Inflation Forecasts on Tariffs (Bloomberg) Traders Bet on More Fed Cuts With 10-Year Yield Headed Toward 4% (Bloomberg) Commerce Secretary Lutnick says Trump's reciprocal tariffs will spur countries to examine their trade policies (CNBC) Macron Suggests Retaliation Against U.S. Tech Services For Trump Tariffs (WSJ) Nvidia positioned to weather Trump tariffs, chip demand ‘off the charts,' says Altimeter's Gerstner (CNBC) Two retailers could end up beneficiaries of tariffs, says Citi in upgrade (CNBC) DOGE-Related Plans to Cut Jobs Top 280,000 in Challenger Report (Bloomberg) Intel, TSMC Tentatively Agree to Form Chipmaking Joint Venture (The Information) --- Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs
Malte Kosub is the cofounder and CEO of Parloa, an AI agent platform for customer service. They raised their $66M Series B led by Altimeter.Malte's favorite book: The Qualified Sales Leader (Author: John McMahon)(00:01) Introduction(00:26) Overview of AI in Customer Support(01:33) The Current Landscape of AI Agents(02:46) Enterprise Adoption of AI Agents(04:16) The Founding Story of Parloa(06:25) Deciding What Goes into V1 of a Product(07:56) Achieving 99.9999% Accuracy in AI Agents(09:29) How to Identify Customer Needs for AI Products(10:55) Scaling from Early Customers to the Next 10(12:41) Growth Experiments: What Worked and What Didn't(14:42) Current State of Parloa: Capabilities and Scale(16:36) Structuring Teams for AI-First Companies(18:49) Technology Stack and Internal AI Use Cases(21:29) How to Pitch an AI Product to Enterprises(23:32) Essential Tools Used Inside the Company(25:41) AI's Role in Daily Life and Workflows(27:54) The Future of AI Agents in Customer Support(28:37) Can AI Agents Fully Replace Human Agents?(29:05) Exciting AI Advancements Impacting Parloa(30:06) Rapid Fire Round--------Where to find Malte Kosub: LinkedIn: https://www.linkedin.com/in/maltekosub/--------Where to find Prateek Joshi: Newsletter: https://prateekjoshi.substack.com Website: https://prateekj.com LinkedIn: https://www.linkedin.com/in/prateek-joshi-infiniteX: https://x.com/prateekvjoshi
Highlights from this week's conversation include:Meghan's Background and Journey (1:18)Capital Formation Insights (7:39)Lessons from Goldman Sachs (9:05)Advice for Emerging Managers (11:11)Importance of Client Experience (17:00)The Competitive Landscape of Venture Capital (19:14)Changing GP and LP Relationships (23:29)Creativity in Investor Relationships (28:19)Insider Segment: Florida's Diverse Venture Ecosystem (31:10)Challenges and Opportunities in Florida Startups (35:40)Talent Access and Flexibility (39:08)Institutional Reporting Challenges (41:02)Trust and Transparency in Fundraising (45:23)Institutional LP Process Advice (49:35)Power Law in Venture Capital (54:35)Understanding Capital Allocation (56:49)Fund Sizes and Venture Capital Dynamics (1:00:12)Final Thoughts and Takeaways (1:05:10)Altimeter Capital Management is a leading investment firm specializing in technology-focused public and private market investments. By integrating insights across markets, Altimeter aims to drive innovation in the financial industry.http://www.altimeter.com/Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world's most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB's parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.
Jordan Tigani is the cofounder and CEO of MotherDuck, a data warehouse platform based on open source database DuckDB. They've raised $100M in funding from amazing investors like Andreessen Horowitz, Felicis, Madrona, and Altimeter. He was previously the CPO at SingleStore and spent 11 years at Google before that. He has a degree in electrical engineering from Harvard. Jordan's favorite book: The Master and Margarita (Author: Mikhail Bulgakov)(00:01) Introduction(00:08) Founding of MotherDuck(01:12) The Philosophy of Shipping Products at MotherDuck(05:02) Founding Story and Identifying the Market Opportunity(10:57) Building the First Version and Overcoming Early Challenges(12:23) Validating Customer Needs and Asking the Right Questions(18:24) Deciding What Features to Prioritize and Exclude(21:30) Positioning a New Product in a Mature Market(27:36) Overcoming Challenges in Scaling MotherDuck(32:29) Measuring Success of New Features in Enterprise Products(36:20) Structuring the Organization for Effective Execution(41:09) Preparing MotherDuck for the AI Native Era(43:28) Rapid Fire Round --------Where to find Jordan Tigani: LinkedIn: https://www.linkedin.com/in/jordantigani/--------Where to find Prateek Joshi: Newsletter: https://prateekjoshi.substack.com Website: https://prateekj.com LinkedIn: https://www.linkedin.com/in/prateek-joshi-91047b19 Twitter: https://twitter.com/prateekvjoshi
The Capitalism and Freedom in the Twenty-First Century Podcast
Jon Hartley and Brad Gerstner discuss Brad's career, free markets, investing in technology, industrial policy, the CHIPS and Science Act, and baby equity investment accounts. Recorded on November 1, 2024. ABOUT THE SPEAKERS: Brad Gerstneris the founder and CEO of Altimeter Capital, a tech investment firm based in Silicon Valley, that manages both public and VC investment portfolios. Started in 2008, Altimeter manages over $15bn of investments across its public equity fund and venture capital funds. Brad is also the founder of Invest America, a non-profit that is spearheading research into the creation of private investment accounts for the 3.7 million children born each year in America, unlocking economic mobility for the next generation. Born in Indiana, he studied at Wabash College, Oxford University, Indiana University School of Law and Harvard Business School. He practiced securities law and served a term as Indiana deputy secretary of state before returning to HBS. Jon Hartley is a Research Assistant at the Hoover Institution and an economics PhD Candidate at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently a Research Fellow at the Foundation for Research on Equal Opportunity (FREOPP) and a Senior Fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists, and serves as chair of the Economic Club of Miami. Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, IMF, Committee on Capital Markets Regulation, US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC, and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper. ABOUT THE SERIES: Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information, visit: capitalismandfreedom.substack.com/
Send us a text[Original air date, October 10, 2023] Miguel Armaza sits down with Josh Reeves, CEO & Co-Founder of Gusto, one of the largest HR & Payroll companies in the US, focused on serving small and medium-sized businesses. In addition to HR, payroll, and benefits, Gusto is a strong player of embedded fintech solutions and in 2023 announced a very large partnership with JPM Chase.Founded in 2011, Gusto now serves over 300,000 businesses in the US and in 2022 Gusto had revenues of more than $500 million dollars. They are backed by General Catalyst, YC, Kleiner Perkins, Obvious Ventures, Felicis, Ribbit, CapitalG, Altimeter, and a very long list of fintech investors.We discuss:Finding Product-market fit in the highly complex SMB sector Becoming a strategic partner and building the people platform for small businessesLessons from building and launching Gusto's embedded fintech strategyHow Gusto built a structured and scalable hiring processInsights and learnings from the evolving role of CEO… and a lot more!Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary? Check out the Fintech Leaders newsletter and join ~70,000+ readers and listeners worldwide!Miguel Armaza is Co-Founder and General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIp
This Week in Startups is brought to you by… LinkedIn Jobs. A business is only as strong as its people, and every hire matters. Go to https://www.linkedin.com/twist to post your first job for free. Terms and conditions apply. Beehiiv. Power your newsletters with AI tools, referral programs, and ad network features—all in one platform. Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist CLA. Innovation takes balance. CLA's CPAs, consultants, and wealth advisors can help you get from startup to where you want to end up. Get started now at https://www.CLAconnect.com/tech * Todays show: Altimeter's Jamin Ball joins Alex Wilhelm to discuss VC-founder dynamics, fund returns, rapid fundraising, and its impact on M&A. They cover public vs. private valuations, startup liquidity, AI's influence, SaaS trends, and Jamin's outlook on IPOs and exits. * Timestamps: (0:00) Jamin joins Alex to kick off the show (6:30) Alignment of incentives between VCs and founders (10:25) LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist (11:54) Venture capital allocation demand and its impact (15:55) Comparison of returns between small and large venture funds (21:54) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist (23:23) Power laws in startups and venture capital's impact (24:19) Effects of rapid fundraising cycles on founders (31:33) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech (32:59) Raising large rounds and long-term commitments (35:15) Venture capital's influence on startup M&A activity (37:38) Public vs private market valuation disparities (39:24) Future of startup liquidity and exit scenarios (46:06) Proposals for realigning venture capital funds and founder incentives (47:41) Impact of AI on startup growth and venture capital (52:20) SaaS multiples and cloud software market analysis (57:43) Software spending trends and startup optimism for 2024 (1:00:15) Procurement scrutiny in startup budgets and market differentiation (1:01:17) Promising companies and Jamin Ball's investment outlook (1:01:28) Expectations for IPOs and startup exits in the coming year * Mentioned on the show: Join Jamin's substack here: https://cloudedjudgement.substack.com/ Jamin's article: https://cloudedjudgement.substack.com/p/clouded-judgement-102524-misaligned Check out Altimeter: https://www.altimeter.com/home Follow Bill Gurlery on X: https://x.com/bgurley Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com Check out the TWIST500: https://www.twist500.com * Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp * Follow Jamin: X: https://x.com/jaminball LinkedIn: https://www.linkedin.com/in/jamin-ball-49366137 * Follow Alex: X: https://x.com/alex LinkedIn: https://www.linkedin.com/in/alexwilhelm * Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Thank you to our partners: (10:25) LinkedIn Jobs - Post your first job for free at https://www.linkedin.com/twist (21:54) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist (31:33) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech * Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland * Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow TWiST: Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups Substack: https://twistartups.substack.com * Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
REMIX: Album 1 Track 19 - Charlene Li New York Times Best Selling Author and Founder/Senior Fellow at AltimeterHey Brand Nerds, we are back with the wonderful Charlene Li as our guest. When Charlene speaks, Silicon Valley and beyond listens! We welcome you to enjoy and learn about many Brands, Beats & Bytes topics including: • A potential positive shift in CMO tenure?• The relationship between business growth and the disruptive mindset• As a woman, best way to advance one's career
Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week they are joined by Jamin Ball (Partner at Altimeter) to discuss the state of venture capital and incentives, implications of overcapitalization, the future of power law returns, AI's impact on investment strategies, the future of AI and CapEx, the market's reactions to the 2024 election, the evolution of search and AI integration, Nasa, SpaceX, & more. Enjoy another episode of BG2. Timestamps: (00:00) Intro (00:52) Bill's Dad | from Nasa to SpaceX (06:20) State of VC and Incentives w/ Jamin Ball (12:31) Implications of Overcapitalization (25:08) The Future of Power Law Returns (38:28) The Impact of AI on Investment Strategies (46:00) Future of AI and Capital Expenditure (52:21) Market Reactions to 2024 Election (01:00:45) Evolution of Search and AI Integration Available on Apple, Spotify, www.bg2pod.com Follow: Brad Gerstner @altcap Bill Gurley @bgurley BG2 Pod @bg2pod Jamin Ball @jaminball Shownotes Clouded Judgement Substack #BillGurley #BradGerstner #Bg2Pod
Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, Jensen Huang, CEO of NVIDIA, makes a guest appearance. In Bill's absence, Brad is joined by Clark Tang (Partner at Altimeter) as they discuss with Jensen scaling intelligence towards AGI, the acceleration of machine learning, NVIDIA's competitive advantages, the significance of inference alongside training, future market dynamics in the AI landscape, the impact of AI on various industries, the future of work, inference time reasoning, AI's potential to enhance productivity, the balance between open source and closed source, Elon's Memphis Supercluster, X.ai, OpenAI, the safe development of AI, & more. Enjoy another episode of BG2. Chapters (00:00) Introduction (1:50) The Evolution of AGI and Personal Assistants (06:03) NVIDIA's Competitive Moat (15:51 ) The Future of Inference and Training in AI (19:01) Building the AI Infrastructure (31:35) Inventing a New Market in an AI Future (38:40) The Impact of OpenAI (43:25) The Future of AI Models (46.44) X.ai and Memphis Supercluster (51:21) Distributed Computing and Inference Scaling (55:54) Inference Time Reasoning and Its Importance (01:00:46) AI's Role in Growing Business and Improving Productivity (01:08:00) Ensuring Safe AI Development (01:12:31) The Balance of Open Source and Closed Source AI #jensenhuang #nvidia #bradgerstner #billgurley #clarktang #xai #memphiscluster #elonmusk #noambrown #openai #gptstrawberry
Ranjan Roy from Margins is back for our weekly discussion of the latest tech news. We cover 1) OpenAI closing a $6.6 billion fundraise 2) A look at the investors, including Softbank, Tiger Global, Cathie Wood, and Altimeter 3) Will OpenAI need to raise again shortly? 4) Is an IPO next? 5) Investors can get their money back if OpenAI doesn't convert to a standard for profit company 6) What's next for OpenAI's relationship with Microsoft? 7) Meta's quiet election 8) Is social media's collision course with politics sad? 9) AI girlfriend apps on the rise 10) AI slop has taken over the internet 11) Ranjan's weird Facebook experience 12) Depression and bewilderment --- Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice. For weekly updates on the show, sign up for the pod newsletter on LinkedIn: https://www.linkedin.com/newsletters/6901970121829801984/ Want a discount for Big Technology on Substack? Here's 40% off for the first year: https://tinyurl.com/bigtechnology Questions? Feedback? Write to: bigtechnologypodcast@gmail.com
This Week in Startups is brought to you by… LinkedIn Ads. To redeem a $100 LinkedIn ad credit and launch your first campaign, go to https://www.linkedin.com/thisweekinstartups Runway. Looking to up-level your financial planning Runway is the modern and intuitive way to model, plan, and align your business for everyone on your team. Sign up at https://www.Runway.com/TWIST to get your first 3 months free. Beehiiv. Power your newsletters with AI tools, referral programs, and ad network features—all in one platform. Get 30 days free and 20% off your first 3 months at https://www.Beehiiv.com/TWIST * Todays show: Meghan Reynolds takes the stage at Liquidity Summit 2024 to discuss the intricacies of raising capital and pitching to VCs. Meghan dives into many topics including the importance of relationships (3:07), fund size rationalization (20:36), market sentiment (25:55), and other crucial aspects of successful fundraising! * Timestamps: (0:00) Meghan Reynolds takes the stage at Liquidity Summit 2024 (3:07) Meghan Reynolds' talk “Relationship Advice: Of the LP / GP Sort” (9:43) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups (10:59) Client service in investor relations and fundraising strategies (15:07) The complexity factor in raising capital (19:19) Runway - Sign up at https://runway.com/twist to get your first 3 months free. (20:36) Rationalizing fund size, securing re-ups, and worst pitching practices (25:55) Market sentiment and single deal SPV dynamics (29:34) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist (31:02) VC allocations, private credit, and market dynamics * Subscribe to the TWiST newsletter: https://www.ticker.thisweekinstartups.com * Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp * Check out Altimeter: https://www.altimeter.com * Follow Meghan X: https://x.com/MeghanKReynolds LinkedIn: https://www.linkedin.com/in/meghankreynolds * Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Thank you to our partners: (9:43) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups (19:19) Runway - Sign up at https://runway.com/twist to get your first 3 months free. (29:34) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist * Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland * Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups * Subscribe to the Founder University Podcast: https://www.founder.university/podcast
Altimeter's Brad Gerstner joins Scott Wapner live from Goldman Sachs' Communacopia conference talking all things tech. Plus, New York Life Investments' Lauren Goodwin and Jason Snipe of Odyssey react to that big interview and discuss their forecasts for the market. And, shares of Novo Nordisk got a big boost thanks to some new weight loss drug data. We drill down on the details and what it could mean for the stock in the long run.
In this episode, we speak with Vijay Tella, the Co-founder and CEO of Workato, a platform for intelligent integration and workflow automation. In 2013, Workato was founded by Vijay Tella, Gautham Viswanathan, and Harish Shetty. Their intention was automating workflows through a no-code platform. Prior to Workato, Vijay was CEO of Qik, a consumer video communications company acquired by Skype. Workato has raised over $400 million and is backed by Battery Ventures, Altimeter, Insight Partners, Norwest, and other notable investors. I am your host RJ Lumba. We hope you enjoy the show. If you like the episode click to follow.
Welcome to the Part Time Pilot Audio Ground School VIP Podcast! This podcast takes our free podcast to a whole new level by providing students with every single lesson included in the Part Time Pilot Private Pilot & IFR Ground Schools without a single Ad! On top of that, VIP podcast students get BONUS episodes like Mock Checkrides, Checkride Prep, Expert Interviews and more! The #1 reason student pilots never end up becoming a private pilot is NOT due to money. The real reason is actually deeper than that. Yes, flight training is expensive. But every student pilot knows this and budgets for it when they decide to do it. The actual #1 reason a student pilot fails is because they do not have a good, fundamental understanding of the private pilot knowledge they are meant to learn in ground school. You see when a student does not have a good grasp of this knowledge they get to a point in their flight training where their mind just can't keep up. They start making mistakes and having to redo lessons. And THAT is when it starts getting too expensive. This audio ground school is meant for the modern day student pilot... aka the part time student pilot. Let's face it, the majority of us have full time responsibilities on top of flight training. Whether it is a job, kids, family, school, etc. we all keep ourselves busy with the things that are important to us. And with today's economy we have to maintain that job just to pay for the training. The modern day student pilot is busy, on the go and always trying to find time throughout his or her day to stay up on their studies. The audio ground school allows them to consume high quality content while walking, running, working out, sitting in traffic, traveling, or even just a break from the boring FAR/AIM or ground school lecture. Did I meant high quality content? The audio ground school is taken straight out of the 5-star rated Part Time Pilot Online Ground School that has had over 2000 students take and pass their Private Pilot & IFR exams with only 2 total students failing the written. That's a 99.9% success rate! And the 2 that failed? We refunded their cost of ground school and helped them pass on their second attempt. We do this by keeping ground school engaging, fun, light and consumable. We have written lessons, videos, audio lessons, live video lessons, community chats, quizzes, practice tests, flash cards, study guides, eBooks and much more. Part Time Pilot was created to be a breath of fresh air for student pilots. To be that flight training provider that looks out for them and their needs. So that is just what we are doing with this podcast. IFR Section 2 - Lesson 2: In this lesson, we review the IFR altimeter operations that we care about as IFR pilots. We talk about what they are, what they are used for and why we use them. This is a key concept you should have learned in private pilot but if not, we will review it for you hear as it sets up the following lessons on IFR instrumentation. Links mentioned in the episode: Private Pilot Online Ground School: PPL Ground School - Part Time Pilot Checkride Prep: PPL Checkride Prep - Part Time Pilot Ultimate Private Pilot Test Prep Book: Book on Amazon IFR Online Ground School: IFR Ground School – Part Time Pilot PPL study group: https://www.facebook.com/groups/parttimepilot IFR study group: https://www.facebook.com/groups/parttimepilotifr/ Recommended Products & Discounts: https://parttimepilot.com/recommended-products-for-student-pilots/
Meghan Reynolds is a Partner and Head of Capital Formation at Altimeter Capital Management. She brings over two decades of experience in finance and private equity to her role. Prior to joining Altimeter, Meghan was a Managing Partner at TPG, where she was global co-head of Capital Formation for 10 years.Links:Meghan on XAltimeterBrandon on LinkedIn - https://www.linkedin.com/in/bsedloff/Juniper Square - https://www.junipersquare.com/Topics:(00:00:00) - Intro(00:01:18) - Meghan's career and background(00:15:54) - Leaving Goldman Sachs for TPG(00:20:45) - The decision to join Altimeter(00:22:31) - What is your role with Altimeter?(00:30:35) - How do you know when you're deviating from the goal of Essentialism?(00:33:09) - What do investors want these days from folks like Altimeter?(00:38:40) - Do you see investors putting capital in both private and public markets?(00:42:56) - What are your big ideas right now in regard to technology investing?(00:47:10) - What role does X/Twitter play in your career?(00:51:38) - What advice would you give to women looking to get into your field?
Jeremy Cox, Captain of the Lolita fishing team and co-founder of the Mongo Offshore Challenge, shares his fishing journey and the success of their recent fishing trip. The conversation covers topics such as Jeremy's fishing background, the Mongo Offshore Challenge, and their recent catch of a 704-pound blue marlin. They discuss the tournament format, the significance of the catch, and the importance of preserving and studying these fish. Jeremy also talks about the excitement of lure fishing and the thrill of anticipation. The conversation highlights the joy of fishing and the special moments shared with family and friends. The conversation revolves around the experience of catching marlin in the Gulf of Mexico and the importance of sustainable fishing practices. The guests discuss their recent catch of a 700-pound marlin and the challenges they faced during the fishing trip. They also touch on the significance of donating the meat from the catch to charities and zoos. The conversation highlights the love and passion marlin fishermen have for the species and their efforts to protect and conserve them. The guests also discuss the science and research that can be conducted using these rare event species. Additionally, they talk about the process of catching live bait in the Gulf of Mexico and the strategies they use to keep the bait fresh and alive. In this conversation, Jeremy from the Lolita Fishing Team discusses the evolution of live baiting in offshore fishing. He explains how the use of live bait tubes has become a common practice and how it has improved the ability to keep bait alive for longer periods. Jeremy also talks about the importance of fresh and frisky bait in attracting fish and shares tips on handling and caring for bait to keep it in optimal condition. He emphasizes the significance of structure, such as oil rigs, in creating fish aggregating devices (FADs) and attracting a variety of fish species. Jeremy also mentions the potential for future expansion of the Mongo Offshore Tournament to the East Coast and internationally. Mongo Offshore Challenge East Coast Registration https://www.reeltimeapps.com/live/tournaments/2024-mongo-offshore-east-coast/register Mongo App: Iphone: https://apps.apple.com/us/app/mongo-offshore-challenge/id1516755470 Android: https://play.google.com/store/apps/details?id=com.reeltimeapps.mongo&pcampaignid=web_share Keywords fishing, blue marlin, tournament, Mongo Offshore Challenge, Gulf of Mexico, Lolita fishing team, catch, celebration, preservation, marlin, Gulf of Mexico, sustainable fishing, catch and release, fishing tournaments, conservation, live bait, tuna tubes, live baiting, offshore fishing, bait tubes, fresh bait, frisky bait, handling bait, oil rigs, fish aggregating devices, FADs, structure, Mongo Offshore Tournament Takeaways Jeremy Cox shares his fishing journey and the success of their recent fishing trip The Mongo Offshore Challenge is a season-long tournament that awards the biggest fish caught in various categories The Lolita fishing team caught a 704-pound blue marlin during the Hurricane Open tournament The catch was celebrated with family and friends, and the fish was donated to science for research purposes Lure fishing provides a unique thrill and anticipation for anglers Preserving and studying these fish is important for understanding their reproduction and population Marlin fishermen are passionate about the species and work towards their conservation and sustainability. Donating the meat from caught marlin to charities and zoos is a way to reduce waste and benefit the community. Catching live bait in the Gulf of Mexico can be challenging, especially during the day when the bait goes deep. Tuna tubes are used to keep live bait fresh and alive during fishing trips. The conversation highlights the importance of responsible fishing practices and the role of fishermen in scientific research and data collection. Live baiting has evolved over the years, with the use of live bait tubes becoming a common practice in offshore fishing. Fresh and frisky bait is essential in attracting fish, and there are techniques to handle and care for bait to keep it in optimal condition. Oil rigs serve as fish aggregating devices (FADs) by providing structure and attracting a variety of fish species. The Mongo Offshore Tournament is a popular fishing tournament that focuses on the Gulf of Mexico, but there are plans to expand to the East Coast and potentially internationally. Transcript: Katie (00:00.206) In today's episode, I'm sitting down with Captain Jeremy Cox as we dive into the Gulf of Mexico blue marlin fishery with big fish stories, tips on how to handle and maximize the health of your bait and why the oil rigs play such a valuable role in the Gulf of Mexico ecosystem. Katie (00:27.886) Welcome to the KDC Sawyer podcast. I'm your host Katie. And today I'm sitting with the captain of the Lolita fishing team. He's also the co -founder of the Mongo Offshore Challenge. Jeremy Cox, thank you so much for taking the time to sit with me today. No problem. Thank you so much for having us. It's my pleasure. Well, we've been talking about doing this for a long time and I'm really glad it worked out the way it did because you guys just had a heck of a fishing trip out of Grand Isle, Louisiana last week, which I really want to get into you guys. Spoiler alert. They caught a 704 pound blue Marlin, but Jeremy, tell us a little bit about you. Where are you from? What's your fishing experience and how did you get to where you are today? so, let's see. I'm, I was born in Maryland. Actually, my, my family's from Maryland. move my. family moved us to Pensacola, Florida back in the early 80s. And so I grew up in Florida. I was raised in Florida. I think I was two years old when we moved to Florida, Pensacola. And man, first fishing memory is like four years old. My brother, JD, which is also co -founder of the Mongo, he's my older brother by seven years. He took me fishing in a lake behind, you know, in our neighborhood behind our lake. caught a bass like the first trip and I was hooked. I was like man this is the thing now I probably pestered him every day after that can we go fishing can we go fishing you know we're going fishing and so that progressed into an addiction of fishing and my mom took me on a fishing charter when I was 10 years old out of Ocean City Maryland and I saw the mate you know back there with us and you know this guy driving the boat which was you know I learned was a captain and and we caught some tuna and I was like, these guys do this for a living? And my mom's like, yeah, this is what they do, you know? And I was like, man, I want to do that when I grow up. So my brother had a baseball scholarship. He went off to college and played baseball and moved to Birmingham, Alabama. And me and him always talked about owning our charter boat. So I got into the fishing industry. Like my first job was first fishing related jobs working at a place called Boaters World. They're out of business now, but. Katie (02:50.766) very like West Marine, it was around for years and it was a big box store for marine supplies and marine sales. So I worked there and figured that'd be a good opportunity to meet other fishermen. So long story short, met other captains and landed a mate job and started mating and me and my brother, that's what we were gonna pursue is our own charter boat career. And you know, I'm skipping a lot of stuff, but Hurricane Ivan hit in 2004 and sort of... hit us back to reality. It's like, man, we saw all these charter boats lose their whole livelihood with their boats getting wrecked and the whole season sort of thrown out the door, at least in our little town. And we're like, maybe that's not the smartest idea for us. We didn't have a lot of money anyway. We wanted to get in those charter boat things. I mean, so I had a lot of friends in the private industry. And we were charter fishing. We were mating and captain. By that time, JD moved down to Pensacola. And we were both mating on different boats. And I did some captain work. started in the private sector. So I was like, man, that's probably the better route, more secure, you know, and then it's, you know, you got somebody else paying for everything and you get paid to go fishing, paid to kick, you know, a lot more waxing and toilet fixing than fishing, but yeah, it's all part of the, all part of it. Yeah. So, but it's awesome. So, you know, that's, that's how I got into the captain, you know, and in that whole time, you know, I was doing sales, you know, I worked for a Long time I worked for a distributor. We sold fish and tackle to tackle stores. And then I was a tackle sales rep for a while. We represented a dial and play Jake and other other brands. And I did that for collectively for about 12 years while I was doing captain work on the side in the private world. I had an orange beach, Alabama and Pensacola, Florida, Destin, Florida. But now currently I run the Lolita to 72 foot Viking out of Destin, Florida. and been working for this family for this is the ninth summer. Great family. They're awesome. Yeah, we're like fam. They treat me to treat us like family and just a great, great time. And yeah, this weekend. So we, we called the art person. Yeah. no, no, no. I haven't interrupted you. Sorry guys. We're not there yet. We're not there yet. No, that's so cool. So are you out of Orange Beach now? Are you based out of Orange Beach now? I'm. Katie (05:15.47) We keep the boat Lolita, we keep it behind Bo Shamps and Destin. That's where we keep the boat year round. That's right, you just said that. No, yeah, we come to Orange Beach a lot. We're sort of a traveling boat in the summertime, so we're rarely home during the summer, but the wintertime's fall through spring, we're parked behind Bo Shamps. We spend a good amount of time in Grand Isle, Louisiana. The owners have a camp there in Grand Isle. Nice. Yeah, so we get to spend, well now it's about two months a year out of Grand Isle. a month in the spring. What two months is that? So we're just getting off of this month. So it's a March, you know, late March to well, actually this year it was early April through early May. You know, we're home in Orange Beach now for some work. So about a month, you know, in the late spring and then a month in a late summer, we used to go there late July and stay through late August. Yeah, it's really good fishing over there that time of year. Yeah. Are you, out of Grand Isle, are you... doing a lot of tuna fishing as well as blue marlin fishing. Correct. Yes, they love to catch tuna and blue marlin, that's pretty much it. That's all they would like to get. We do very little bottom fishing. It's primarily tuna and marlin fishing, which is... I mean, the fishing up there in the northern Gulf for those two species is incredible. And the fact that you've, I mean, you essentially grew up for the most part fishing the northern Gulf of Mexico, right? That's right. That's cool because I'm from Texas, right? That's where I claim as my hometown. But I, my Gulf of Mexico fishing experience is extremely limited. So, I have so many questions for you and I'm really excited to have a Gulf guy on the podcast. we've had South Florida, we've had Kona and now here we go into the Gulf and we're right in that tournament season. Now, do you want to tell me a little bit about the Mongo Offshore Challenge? It's a 153 day. regional challenge, right? That's right. So yeah, so me and my brother was involved in this private world of fishing and tournament fishing. I think our first tournament we fished together was in 2007 on a boat called the Sunset. I fished several tournaments in like 2004, 2005, but JD was able to move down from Birmingham, get out of, he was in natural disaster work as well. And anyway, he, Katie (07:34.382) He was able to fish with me in 2007, our first tournament together on a boat called Sunset. We fished Biloxi and we won it. First tournament we fished together. my gosh. What'd you win it with? 531 Blue Marlin. Yeah, and it caught on the first morning of the first hour of the first morning. is like totally spoiled. Like JD's like, I like this tournament fishing stuff. This is pretty awesome. Yeah. It's always, it doesn't always work out like that, but that was really special. We did it with our best friend and mentor, Matt Dunn, which he's not really in the, in the sport fishing game anymore. He switched over to yacht world and he's doing, you know, he works for, you know, runs a big yachty yacht now, but, Man, so we made a lot of memories fishing. We had a really good run there with him for about six or seven years. Did really well in the golf circuit. And that was right when live baiting was sort of getting really, really popular. We were primarily trollers on that boat, but yeah, that was cool. So. What do you mean primarily trawlers like lures? Yeah, lures. We were, we were lure fishing. We still actually are passionate. I don't know that I would have fell in love with blue marlin fishing if I would have started out just sitting soaking live baits. it's something about the anticipation of rigging the night before the days before. And you got your lures out and you're re -skirting and putting new hook sets on. You're like, maybe that's going to be this color. You know, you got, you know, we need more trawlers. We need more spiked lures. Yeah, you know, going to the tackle store and like, man, we got to buy this one. This is the one. man, look at the head. You know, it's just, I don't know, something about that anticipation and like, you know, the what if they eat this one? yeah, they should eat this one. It's this color. look, it's a dolphin color. We got to match the hatch. I mean, all that stuff is just like fun, you know, rather than feeding them what they eat all day long. Of course they're going to eat a tuna. Of course they're going to eat it. Yeah. It's like, you know, we do it and it works. Katie (09:36.782) We have to do it in time efficient up here. You have to live bait to be consistent. But it's, you know, you're not really tricking them anymore. You know, when you're lure fishing, it feels like, man, it's like bass fishing. I'd much rather bass fish with a spinner bait or a plastic worm than throwing a live shiner out there. They're going to eat a live shiner, but it's just something special about it. And so yeah, it's definitely progressed. We came in when it was... And the northern golf is mainly lure and, you know, in natural baits, you know, you're pulling islander, you know, about who combos is, you know, everybody still pulls and then they work 100%. They work. And that's just, I don't know, something special about, about that. And if we were started out live baiting, I don't know that I would have had the same excitement about it. Now we sort of mix it up a little bit. We do some trolling and we do a lot of live baiting. it's the primarily way we fish up here. We're very, very spoiled. with this Northern Gulf fishery with these old rigs. I mean, you have giant fads everywhere. So they hold fish. We're going to go a little off topic for a minute because I have a lot of questions for you. No, this is great. I love it. You're giving me great content. So in that tournament, so we won that tournament. I'll go back to the Mongo. Obviously, it's why you have us on here. But us tournament fishing, we saw the progress and we're on fast boats. And then we started running the Lolita. I started running that in 2016, and it was a slow Hatteras, a 23 knot Hatteras. And we also, when we first started fishing, there's a lot of express boats. In the early 2000s, in these big weekend tournaments in golf, there's a lot of smaller express boats. There's a lot of slower, you know, Bartrams and Hatteras. And everybody's competing. But as the fleet, you know, got more technologically advanced and bigger horsepower engines. It's a speed race now, so whoever has the fastest boat has more fishing time. And it's a huge, huge deal. We're running 150 to 250 miles one way. So if you're doing that, you know, and you're getting there two, three hours before everybody else, or at least before the slow boats, the slow boats don't really have a chance, you know, unless you get lucky and run over one. So we were like, man, it'd be awesome if there was a tournament that had like a, that would level the playing field that would give them. Katie (11:54.83) Same amount of time for everybody. Doesn't matter how fast you are, how slow you are. If you have a big giant Viking or a little center console, everybody's on a level playing field. And so that's how that progressed, that birth, that idea of like, man, all right, let's just have a season long event and put the lines in. Whenever you leave the dock, you're in the tournament from May 1st to September 30th. So if you can, and we're all about the big fish, Mongo meaning huge. So if you catch a giant fish. between May 1st and September 30th, you can win it. And we count your weights in tournaments, and we count your weights on fun fishing trips. We set up these weigh stations all over the Gulf, and you can go in anywhere. We have 20 weigh stations in the Gulf of Mexico from all the way in South Texas all the way to Naples, Florida. So you go in and weigh your fish, and if you have the biggest fish at the end of the season, you win the pot. Blue Marlin, Swordfish, Tuna, Dolphin, and Wahoo. So yeah, it's really, really fun. We started it five years ago. It had 66 teams that first year and this year. Wow. Yeah. Yeah. And COVID year too, which is crazy. That's a whole nother story. But yeah, our first year we had 66 teams. We have a bit of a network. We've been around, we know a lot of guys. So we were able to call up a lot of captains like, what do you think about this format? Would you fish it? And they're like, yeah, that's awesome. Heck yeah, man. Because you always catch your biggest fish on your fun trips anyway. Yeah. Yeah, typically. I mean, you're going out there for a million dollar tournament and you catch the big one the day before practicing, you know, so now we can celebrate that fish and reward, you know, whoever catches the bigger ones, all kinds of cool things for that format that makes it neat. But yeah, so so that's where it came from. And then now this year is our fifth year we've had a we have 150 teams and over half a million dollars in the pot. That's crazy in the Gulf of Mexico because you guys have branched out to other fisheries now, right? That's right. So we started the East Coast three years ago. This is our third season in the East Coast. We're trying to grow that East Coast. We don't have the network that we have in the Gulf because we grew up in the Gulf. We know everybody. So we're working on growing that network over there, getting some key individuals, key captains on board. But there's already, and registration is still open for the East Coast until June 30th. So teams. Katie (14:12.782) fishing from Cape Cod all the way down to Florida can register for the Mongo up until June 30th and pick which category you want to get in. You don't have to get in swordfish if you don't, if you're not a sword fisherman, just get into mahi or whatever you're fishing for. What's the registration fee? So it's alacarte. So each, each one's different. So the mahi and the wahoo are 500 a piece for the season. That's nothing. You know, we burn in that much an hour out of some of these boats and fuel. So, and then a swordfish is 15, excuse me. Swordfish is a thousand for the season, for the season. yellowfin and big eye are a thousand a piece for the season. And then blue marlin is 2 ,500 for the season. So you'll, if you want to get in all categories, like 6 ,500 bucks for the board. Yeah. And you're in from every time your boat leaves the dock, whether you're fishing two times a year or a hundred times a year, you're, you're in there. And what did the winner of the Gulf of Mexico last year make and what did they weigh on blue marlin? I think their payday was like 130 ,000 last year and it was a 727 pound blue marlin caught in the bluxy tournament. So he won two tournaments with one fish. I love it. I love that. Yeah. A boat called the salt shaker with Captain Dennis Bennett. And I remember that. Believe it or not, they also won the mahi. They caught the mahi in the ECBC tournament and won like another 50 grand with the mahi. So they really cashed in last year. That's so sick. And their mahi was 60 pounds, 59 .9 pounds, 60 pound mahi in the Gulf of Mexico. It was totally unheard of. I haven't seen a 60 pounder. That is massive. I haven't seen a 50 pounder in the Gulf in years. The only fish I've seen that big was in like Costa Rica, Central Pacific. Panama. That's, that's where I've seen the mahi get that even close to that big. But again, my golf experience is pretty limited. Sure. One thing is different, you know, Mongo, golf on that a minute, but we have very big minimums. So there's not a whole lot of fish weighed in the Mongo throughout the season. One, it's a winner take all. So once something huge is on the board, you're not going to weigh in anything smaller anymore. And then our limits are high. Like mahi has got to be 40 pounds to even qualify. Katie (16:31.278) Wahoo's 60 pounds, Yellowfin's 140 pounds. Blue Marlin's 118 inches. Which is like the federal, you guys, the federal minimum is 99 inches. And a lot of tournaments go 112 inches. So it's definitely progressed over the years. Typically last year was 110 for all the tournaments and this last weekend was 112 for this last weekend. Yeah, because people are going in figuring them out and they're starting to weigh in more and more and more. So they're trying to inch those links up to not take so many of them. And that's one reason we wanted to just pay one place. You know, one, we just wanted to award the biggest fish of the season. And then two, we didn't want to kill a bunch of extra ones. And then typically the blue morn... Actually, I'm trying to think, other than the first year in the Mongo... Every other blue marlin has been caught, or the winner was caught in another tournament. So the first year, the first year was a state record fish caught the day after the, the world cup on July 5th. They were out there for the world cup. They stayed out another day, caught this giant fish. If they would have called in the world cup, they would have won a whole lot more money. Obviously fly usually has, I don't know, well over a million dollars in that, in that world cup pot. But they ended up winning, I think they won like 90 grand or something like that extra. Yeah, that they were. I mean, how cool that you guys are giving that opportunity, you know, like I Drake when we were in Madeira, we saw a real big fish on July 3rd and didn't see it again. But it's just, you know, it's funny how they dance around that date. I feel like those sightings really, really go around the 4th of July. If you guys are wondering what we're talking about, the World Cup is a tournament that's around the world based on your specific time zone on the 4th of July. and we'll have Fly Navarro on for a podcast coming into that. So stay posted. But Jeremy, I guess natural integration. Tell us about your fish this last week. So this last week in the Lolita, the boat I worked for, my owners are gracious enough to get in. They know we put the tournament on. They're totally supportive and supporting of it. It's me, my brother JD and my best friend, Brian Johnson. We were the founders of the Mongo and we also all three work on the Lolita. Katie (18:56.366) So my brother's a mate and Brian comes on for tournaments and it's been just a great team. We all get along so well. And so they're always gracious enough to, hey, we'll get into, you know, we never twist our arm or nothing. They like the idea, they like the format. And so they've got in every year and we've never weighed in on qualifying fish during that time for the Mongo. But this year, our first, actually it's our second trip of the season, but our first tournament of the year. fishing the hurricane open out of Grand Isle, Louisiana this past weekend. And we catch a 704 pounder, which is a nice one. It's 122 inches. It's our biggest one yet. And man, we are so ecstatic. Congratulations. It was money or no money. It's actually sort of special for my owners and my owner's family because they've had a camp on Grand Isle, Louisiana for they call it a camp. It's a beach house and it's nice beach house now, but. It was camp since the 50s, late 50s. This family has had many traditions of going down there and spending time together every summer. And it's been, you know, it's something where everybody can go and be around each other. And it's, they're a really close knit family anyway. And they fish the tarpaulios and fish some other things over the years, but they've never weighed anything huge there in Grand Isle. So this has always been like a dream of theirs. And to do it in Grand Isle just makes it that much more special. We didn't. Like I said, we want some money, but it wasn't about the money. It was about that memory that they got to make with their family members. And they brought their 90 year old grandfather down here to celebrate with us. And he's, you know, yeah, his wife was Lolita. She passed away, but that's had to name the boat after. So he was able to come down and celebrate. And it was just so special. It was really, really cool. And we're able to, you know, not only celebrate that fish and won some money with that fish and. Now we're on the board with the Mongo, which, you know, extra special for me, JD and Brian. I mean, it's really, really cool to be able to do that. But, but you reached out to us and now we were able to donate that fish to science, which is awesome. And we also flayed up a bunch of the meat. Everybody's sharing the meat. We actually, my brother's smoking some up, making some fish dip out of it. Yes. Smoked blue marlin. That's the way to do it. Yep. We got some, some art being made from it. you know, some, the bill and the tail and some prints. And so it's. Katie (21:19.758) It's not a wasted fish, it's a celebrated fish. And now we got, we had kids down there taking pictures with it. It's just inspiring kids. I mean kids, the thing is, is like what a lot of people don't realize is when these fish are brought back to the dock, like the kids that see it, it's such a lasting impression. Because I mean, even for the adults that have never seen anything like that, like to see a creature from the ocean, a fish from the ocean of that size and magnitude and what it takes. to bring something like that in and what type of possibilities there are out there. It just opens so many doors. And I'm really, I was really stoked when I reached out to you, you were all on board about the donating. And next, you guys, the next podcast is gonna be Jeremy Higgs over at the University of Southern Mississippi. And that's exactly who these samples are going to. So Jeremy, I had you like. what we cut the head and we kept some of the innards and we're going to get to age that fish and, and learn a lot about the reproduction and the phases of the fish. So it's blue marlin are females when they're of that size and they're going to get to do reproductive histology on there and we're going to learn a lot about it. And I just think it's so cool that you guys were on board and just sharing that on this podcast is so important because you know, when these fish are brought in, there's so much more that can be done with them than even just. you know, taking the tournament win. Like you said, I love that you're showcasing the celebration of that life. Tell us a story about catching the fish. Like what did it eat? And, yeah, so, we fished some, a very popular area called, we call it the ghetto. it's just, some shallow, well, it's not shallow. It's, it's close to land rigs. I guess you could say it's a, it's a rig that are the floating rigs that are closest to the Alabama line. We're fishing out of Louisiana, but everybody knows the ghetto. If you fish in the northern Gulf Coast, you know it's the ghetto. It's the Rampowl and Petronas and Marlin Rig and Horn Mountain. It's these rigs that's been there for years and years and years. Probably some of the early rigs that were floaters are the ghetto. And they've added on to them. And we got hundreds of rigs that we could choose from. So, ghetto's in the shallower waters. It's about 3 ,000 feet and it's working its way up the bank. And, Katie (23:37.07) I saw some good current in there, like a good eddy being built. We use Hilton's to do our research before we go to figure out exactly what the current's doing, the temperature's doing, and all that. We saw this eddy being formed in there, and I was like, man, it's got some good water pushing in there. Also, Bluefin was still open, so if we accidentally happened to catch one, it wasn't closed yet. It's like, all right, if we get one, we could probably take her home if she ends up. Accidentally, you know eating one of our live baits that we use for blue marlin which they do typically this time of year And then there's huge tune in that area this time of year had some reports today before Several boats catching actually one boat called a 200 pounder another boat called 185 pounder all in this area. Yep And then several boats have caught blue marlin over the last couple days. So I was like, all right, let's go in there most of the fleet's gonna go to greens Canyon another area south of Louisiana and Maybe it won't be as so many boats over there. Anyway, we made the call. Go over there. And the bait's a little hard to catch, a little concern. As we get there, the bait's really, really deep. Typically in the daytime, we're trolling around the rigs, try to catch live bait first to fill up our tubes. At nighttime, you're jigging, using butterfly jigs and whatnot around the oil rigs. They all come to the lights and usually up shallower. And you can jig them all night, fill up your tubes. But in the daytime, you've got to be a little creative and catch them on the troll. There was a lot of different techniques guys used, but they were really deep, really hard to catch. So we were like, all right, at least to the rigs that we stopped at. So we switched over to trolling. That first day we're trolling, nothing. We got to watch another boat that was live baiting catch a couple of fish. So we're like, all right, well, there's fish around. We'll load the tubes tonight and we'll start in the morning and do some live baiting. So we did that. We filled up our tubes at night at a rig and then pulled over to our first stop. It was a drill ship and first bait in the water. It was a porpoise. Porpoise came up and ate our bait and they just, they're so smart. Yeah. They hated this fisherman. They're beautiful, awesome creatures, but they came up. Yeah. You're fishing. Yeah. You don't want when they're eating your bait. They're amazing how they eat it too. They missed the hook. They know where the hook is. They bite it right behind and they just like suck out everything. You just, all you have left on your, on your hook is the head of your bait. And they did that like first, first bait in. Katie (25:57.678) Corpus and I'm marking someone's sonar and like these all look like porpoise to me. So let's let's just go. So we went three miles away to the next rig and there's nobody there. There was like four boats or five boats fishing with us at that first one. So there's multiple reasons why I wanted to leave. So we lit we left one over there and there's only other one ended up being one other boat fishing with us there and marked a couple in the sonar. We hooked one fish, jumped them off within like two minutes. It was a hindsight it was a male. It was a smaller fish. And we found that over the years that that'll happen a whole lot. You'll catch them. You'll catch a small one and you go back and catch the big one or you'll catch the big one and you go back and catch a small one. It seems like they run together this time of year. It's typical to find a big fish with a small fish or multiple. I'm so curious to find out if your fish was spawning. Multiple small fish. A lot of times. So anyway, I marked one, we hooked that one, lost it, put the baits back out, and I saw another mark going over to the rig. So we were using Omniso Nars. Actually, I'm using an MAQ. I love it. It's awesome. So we go over to the rig, put the baits out, drag it over top of it, and I lose the mark. I can't find it. And a lot of times that means they're coming up about to eat your bait. You know, you're in your prop watch or whatnot. Nothing. About five minutes goes by, I mark something else. up ahead of me so we pulled the boat up about maybe a football field's length and there she is. She eats the bait immediately, starts dumping it. What you have like a blackfin or bonita? Yep, that morning all we could call it was blackfin. A little football size maybe about that big. And yeah, Aida immediately dumped a bunch of line. We're using 130 class reels with 130 pound line on there. We do have backing and she... My angler gets in there, Jordan Womack, he fights it for two hours straight. A hot, hard fight. Not a whole lot of jumping, but just a ton of dogging, ton of left and right and down sea, up sea. The fish was crazy. Really, really strong fish. We got one look at it, like two jumps. There's a video we just put up there on Instagram yesterday. You can see the only two jumps. That's the only two times she came out of the water. And she doesn't really look that big in that video. She's pretty far away. And, Katie (28:17.134) We see it's a solid fish, but we get the measurement stick out, like, all right, it might be 112, we'll see. And then two hours into the fight after, he's like, all right, this fish is super strong. It's big. And then she sounds. Sounds all the way down to the bottom, way back into the backing. We're probably a thousand feet out of line in our angler's life. You guys, sounding is when, and correct me if I'm wrong, Jeremy, but sounding is when that fish goes essentially straight up and down and it's deep. Like it's just deep. A lot of times when they do that, we try to, captains call a lot of big blue marlin that try to tag and release them. You're trying to keep them up on top because the worst thing you want is from the sound because they'll die. Typically when they sound that deep, they're stroking out, they're giving out. That's all. If you keep them up top, you can usually tag them really quick and release them and be done. So she sounded and we're like, man, we're in for the long haul now. We're already two hours in, which is a long time. Yeah, usually tagging these fish. If we're tagging the fish, even the big ones, you can get them in 30 minutes, 45 minutes an hour. But anyway, sort of all like defeated after that point. my goodness, we're two hours in, we haven't really saw her again. She's sounded and way back into the backing, our angler is just like totally gassed. He's puking, he's puking all over himself. He's pale in the face. He's like a bodybuilder guy. His arms are shaking, his legs are shaking. So we've got to get him dehydrated, get him cooled down, pouring water all over him. And then the family's just totally around him. The team's just around, like, you're not quitting. You're staying in this. You're going to get this fish. Just totally positive talking, because he's like, I don't know if I can get this thing anymore. Yeah. I mean, he's done his thing. Yeah. So in that. When they do that, and she's done fighting, like she sounds and then it's done, done taking more line. We go to full drag and at that process you got to plane them up. You got to, you know, you're pulling forward, getting a little bit of scope in the line where the line starts coming up a little bit and you're backing down really hard, reeling that slack and then doing it again. So basically what your rod was doing before, the boat's doing now. So the boat's pulling up and then you're reeling down. You're pulling up, reeling down about 40, 50 feet at a time. So it takes another three hours to get that fish. Katie (30:32.782) Hold on, I want to pause you real quick. I really like that you brought up the planing and how it's done because a handful of times when we've been fishing, it's just a really important skill for captains, crews, and anglers to know. A lot of times it can even potentially save a fish. If you have a fish that gets tail wrapped early on in a fight and you're not going to be able to get its head turned. So tail wrapped is when the line's wrapped around the tail of the fish. And if you can't get its head turned, a lot of times that fish is just gonna be swimming down. But if you recognize it early on, if the angler and the captain recognize it early on, you guys can start planing that fish up and get it up to the boat before it dies. Because if it's tail wrapped and it gets pulled backwards for too long, it's gonna asphyxiate because it can't breathe. moving backwards. So planing is a really, really important skill in the field of ethical angling. And then of course, in situations like these where, where you have a deep fish that's just gone. And I mean, also when they're that big, it's really interesting, Jeremy, because when they're that big, it's almost like they can't fight as long as the smaller ones. Like, do you think that that plays a key, like a role in it? And what about the like, how, how warm was the water? I'm just curious. 77. That's pretty cool actually for Northern Gulf. Yeah. It'll warm up. I'm surprised. Yeah. It's, it's, it's been cut off from the loop current that area. So if you go down in greens, it's probably 79 now, somewhere around there. the loop current is probably 80, but you know, this current is down there in greens is probably that, but up, up where we're fishing is still a little cooler because it's sort of been cut off. it's getting most of its water from out in the canyon out to the east of it. And that water is all 76, 77. Is that pretty regular with the seasons? Sometimes that loop current, you look on Hilton's and watch it come up. It'll come up from the Yucatan, make a hard ride over towards Tampa and loop back down. And then off of that northern part, you'll get eddies that'll curl up into that Louisiana, Alabama area. And those eddies are bringing in that nice fresh nutrients that you want. You want that counterclockwise eddy that brings up fish, brings up all the nutrients from the bottom. And you got to... Katie (32:50.926) Clockwise, it's pushing everything down. Altimeter's down and it seems like everything's deeper. But yeah, this time of year, it'll be all sort of weird and squirrely. We always like to fish after a really big storm, like a big south pushing storm. A lot of south wind, southeast wind. Sort of like the pocket and people are familiar with Chubb and down there. Anytime you've got something pushing everything into the shallow water, it seems to get better in there. And that near that shallower water just sort of stacks everything up. So we like doing that. but it was, you know, the, anyway, there's fish in there. There's fish everywhere. People caught fish this weekend all over the place. We were just sort of right place, right time. And then we're capitalized once we did get that fish on, everybody worked together as a good team. And, you know, we didn't make any mistakes. If we would have made a mistake, we would have lost that fish. Cause once we got that fish in the hook was hooked outside end, which is. already hard, you know, you lose them right at the beginning. It's probably when he chased that circle hook, when he was, when he was chasing that blackfin, that blackfin probably swirled around his head weird, got him somehow. And then that hook was hooked to the outside end. So when he came in, you could grab the hook and it just went, doop, it like barely came out. And then we had like two wraps, we had like two wraps around the tail that probably saved us, you know, saved that fish, you know, saved us getting that fish. Yeah, yeah, yeah. Yeah, because if it would have been hooked outside in and he sounded and we'd just been pulling him up like this, it would eventually just work this pulled it out because it just and then she would have died in vain. Yeah. And then it starts with ater and nobody got to celebrate. Yeah. All that. So yeah, it was really special the way it worked out. So many so many things worked in its way. It was a blessing for sure. Were y 'all surprised when she came? when y 'all got her up and she was 122 inches long? Yes, well, actually she popped up way far away. So, you know, we're playing in and once you get them up, you're playing in a dead fish up from that deep. Once you get up to like 200 feet above that thermocline, they'll just pop up and she popped up. Interesting. Yeah, she popped up probably 200 feet away. And so when she popped up tail first, we probably we knew that she was probably tail wrapped, but we didn't know it popped up tail wrap. Our hearts sort of sank. man, I hope she ain't like a 400 pounder, you know. Katie (35:07.438) come up tail up tail up. And then we, you know, now this is all sort of sucks, you know, we don't, we don't win nothing. And you know, we just killed a smaller fish. So she popped up tail up and we saw the tail sticking out of the water and we're getting back and down, back and down to the fish that JD can grab the leader, pull her over and the tail gets bigger and she gets longer. And we're like, okay, all right. And then JD gets her boat side and we're like, holy moly. Nobody says anything to each other until we, until we get her, you can watch that video. We're getting her in a boat. Brian and Ryan, the owner, start pulling her to boat and they get her in and then everybody's like, whoa. You know, we didn't want to say anything. Exhale. Yeah, exhale. And then we measured her. Yeah, we knew she was big and then we measured her and now she's a mongo. You know, now she's over one eighteen. We're like, yeah, we're high five. And it was so awesome. It was very, very special. We've killed it. We've killed a fish with these owners a few years ago, but it wasn't a mongo. It was like a five forty or five. 30 or something like that we caught in Blocsie. Which length was approximately? It was like 112, 113 I think was the length. Yeah you guys 118 is a really damn big fish. Yeah. Like it's a big fish. A special fish. In 122. Yes. Exactly. Exactly. And I, in the video, I mean it looked like you guys didn't even have a flying gaff out. Like you all just had your tuna gaff. Yeah we did have a flyer out. We decided we didn't need it once we got boat sided and we just stick it. regular stick gaff in there, straight gaff. And we did that and then we'd just get a new surround her, around her bill and then we were able to sort of guide her in that way. But yeah, it worked out really, really good that way. It was cool. It was very, very special fish. And then now it's like the dilemma of, all right, did we stay out here? The fishing's good. We ain't got a tuna yet. We came out here for a big tuna too. And we made the decision of going on in. So we... because we're in the Mongo. Because now we're gonna lose, we didn't want to lose any weight. And we wanted to explain how you lose weight. So a lot of times on the deck, they'll just lose weight. They're losing fluids the whole time, blood and other things. And we didn't have that many holes in her, but we had a couple of holes in her. A lot of times they'll just lose weight sitting on the deck. And it kept on going through our minds like, man, if she is a Mongo, she's still got, we got all season for 88 teams to try to beat her. Katie (37:30.414) But if we lose by like two or three pounds, we're going to be hitting ourselves in the face for not taking it. It's only three hours away to the weigh station. So it's a fast boat. So we go. And our plans are to come out either later that evening or that night and try to get a tuna. And we get in. We have a couple of mechanical issues I'm a little nervous about. So we decide not to go out. We just hung her up. We're 700 pounds. We're all having a great time. to see if somebody else can beat her. So nobody else beat her and we won that weekend tournament, which we're super excited about. And then, congratulations. See what happens in the market. Now it gives us a little bit later. You know, it was the 118 everybody was shooting for now it's a 700 pounder set by shooting for. So what is that? I don't know. It could be a 118, a really fat one, but typically probably, you know, that probably is going to save a few fish of being killed is in our thoughts, unless it's in a weekend tournament, you know, if it's on a fun trip, they're going to think twice about killing if it's. you know, 600 pound or something like that. So, yeah, that's cool. Which is really cool. Yeah. Question, what are some like when you're bringing a fish back to the dock and you want to make sure that it's not losing weight, like what are, what are ways that you can help mitigate that? Like, do you have any techniques that you or tips that you want to share? Yeah. So, at least knowledge that I've learned from, from other captains is, we haven't done it yet on. on length, but to keep length you want to keep them wet. Not necessarily cold, but wet to keep their length. So a lot of weekend tournaments, it might be 110 and you have 112 sitting on the deck. Two days later, that thing could be 110, you know, or 109. They could lose an inch or two pretty easily. And there's plenty of stories of guys catching a legal fish and getting back to dock and it's not legal anymore. So that's a bummer. So a lot of captains... found that you keep them wet with towels and that'll keep their length. Not sure about the way that is. Yeah. Is like their skin will shrink up. That skin is so it's very similar to Wahoo skin. Right. And even though the scales are different, very different, but it'll like it'll shrink up as it dries. So keeping them wet will keep them. There's like a lot of like. Katie (39:54.99) ends and outs of it, right? Like I just, okay. So just to clear the air here, I haven't been a really around fisheries that kill fish. you know, my blue Marlin, my predominant blue Marlin experience was in the fat fishery of Costa Rica, which is all catch and release because they're small fish. And then, we were fishing in Madeira for the big one, but we never saw her. So I've heard a lot of stories and like, of fish like coming back to the dock and people saying they were stretched, fish coming back to the dock, people saying that they, you know, put water in their bellies or whatever. what, like there's, there's definitely things you can and cannot do to keep these fish the way they should be as well as like the word mutilation. Can you, can you expand on that for me? Yeah. So in our tournament, in the Mongo, we def on a weekend tournaments. So say you catch your fish in a weekend, we defer to that tournament. So if it's dequeued in that weekend tournament, it's dequeued in the Mongo. If it counts, it counts. In our rules, we do Spirit of IGFA. So mutilated fish are not counted. Mutilation is something that impairs its ability to fight, its ability to swim. So if you back over it a little too hard and chop its tail off or chop something up with your propellers, it's not going to count. It's part of the game. It's shark bit. It's not going to count. We accept cookie cutter sharks because that could have been done months or years ago. Cookie cutter sharks will take like a little round bite out. You'll catch a swordfish and it'll have several of them in there a lot of times as cookie cutter sharks. So we'll accept those, but yeah, if it's a five tiger or something on the way up, then we don't count that. We count that as a mutilated fish. Unless that tournament that you're fishing in accepts it. then we'll count it because we defer to them. But yeah, I mean, you know, people have, yeah, we hear those stories too. I mean, same thing in the freshwater world, people putting leads in their stomachs and, you know, all kinds of stuff to try to win. So we, in the Mongo, we have some checks and balances in there. Sometimes we have the ability to cut that fish open at the dock and check its innards. And we have to have two witnesses that weren't on the boat to witness you weigh that fish. And... Katie (42:19.758) lie detector test for the winners. So we have some things built in to try to keep the confidence high that somebody isn't going to cheat. And a lot of it's peer enforced. If you're in this private industry of sport fishing and you're caught cheating, you go find another career. Yeah, you're not going to get another job. After your black eye, bloody nose heals, go find another job. you don't want to, nobody's going to accept you if you get caught cheating. So it's a lot of it is peer enforced, at least that fear of, you know, so hoping, you know, somebody that didn't want to go on their morals, there's some fear involved as well of getting caught cheating. So, you know, not saying people don't try, but we, we, we try to build some safe, some safe holds in there to keep people from doing it, at least thinking twice. Yeah, that's great. But yeah, and we like to keep them cold. You know, if they're big, big enough fish to weigh, the weigh in, we want to, try to donate that meat. So we like to keep them cold, wrap them up in a fish bag, put as much meat, much ice in there as you can, keep them wet as well. If you keep them bad and cold, he's going to stay long and you're going to get some meat and you can donate out of it. And people eat them in Hawaii all the time. They eat them in all these other islands all the time. I mean, it's not like the best table fare. It's not like we're going to, I'm, you know, let's go catch them all in a day so we can feed the family. But if you do catch them all in a day, she dies. It is edible. We have some especially smoked. Like we really like it. I've smoked Marlin on a bagel. Yeah. Yeah. I've had some smoked taco or some fish taco, Marlin tacos or they're fine. Yeah. You can dress it up and it's totally edible meat. but, we have some, some charities that we sit that we work with and the golf, golf coast, feeding the golf coast and different charities like that. that if a fish does come in the mongo and wait in one of our waste stations, we have outlet to get rid of that meat. A lot of times you'll have to flay that meat up and bag it up, but that's not a big deal. And then you just put those bags in the freezer or wherever and we'll have those cherries come up and pick it up. And they'll donate it to, if it's edible for human consumption, they'll donate it to some homeless shelters and whatnot, but also some zoos and things like that will take it for their tigers and their different. Burning sanctuaries. Yep, yep. So there, you know. Katie (44:38.158) alligator farm. How cool that you guys have like have thought all that yeah alligator farms for sure thought all of that out at your way stations like okay when we bring this fish back like I just love that you're obviously so sustainably minded. Yeah yeah yeah future conservation minded you know it's making choices you know make make your choice because if you want your kids to do this you know try to take some responsibility you know. Nobody loves Marlin more than Marlin fishermen. There's a bunch of fish huggers out there. Why in the world are you killing a fish? my goodness, neanderthals. Well, nobody loves them more than we do. I feel like we've hugged more Marlin. Yeah, we've hugged way more Marlin than y 'all have. And nobody raises more. Nobody raises more money to protect them, to research for them. We buy fishing licenses. That money goes to help all of it. So I love it when people... And the money we put into the communities. Yeah, I love it when people in all the comment sections, they all have an opinion and you go look them up and they're living in Iowa somewhere and never even seen a blue marlin. They have no idea what they're talking about. So nobody loves marlin more than marlin fishermen. We want them around. And yes, we try to take efforts to promote. people want them around more. We kill a few extra fish a year, but all under that minimum. We're allowed 250 per year. National Marine fisheries, white and blue marlin, and if there's an extra three or four killed in the mongo, and they're all huge fish, and they're all celebrated and all that, I think it's good. I don't think it's hurting anything. If anything, it's helping the industry, all the money that's raised from marlin fishermen, bringing new little junior anglers into it. Like you said, with... Like you said, with kids taking photos and stuff like that at Grand Isle this past weekend, there was a line of people, like literally after we took our photos, our team photos, there was like a line, like a single line of probably 15, 20 people waiting to take their picture with this fish that they only know who we are. They don't, you know, they're gonna take a picture with this fish so they can send it to their family members. I mean, very, very cool. Look at this. Yeah, so cool. Yeah, very cool. Did you even know this animal existed out there? Right. Yeah, and also like this, you know, Katie (46:54.286) Another way giving back to the fishery and the communities is the science. The science we're getting from it. These fish are known as rare event species and you and I can both testify to that. And they're really hard to get. They're very expensive to go after. And the scientists, the schools that are studying them to make sure that they are sustainably managed, that they are cared for correctly, that they are going to be in the lives of our children and our children's children in the future. they don't have the funding to be able to catch them themselves. And the fact that we have fishing teams that want to bring them back and take integrity and donate responsibility and donate these specimens to the science labs. I mean, USM was so stoked on y 'all's fish. Like it was, they were just so excited. USM, the Bill Fish Foundation, they were just really excited. So like you said, no one loves marlin more than marlin fishermen. It's just, it's a fact. exactly. And really cool fish. Yeah. And I've, I've even heard of people like, you know, we don't catch them as big as they, you know, y 'all are killing the stock. Well, think of all the records has been set in the last couple of years. All right. So last year, the biggest fish that's ever been recorded in the Gulf of Mexico was called in October, 1145 pounds. I see three years ago. Yeah. And days after he's one of our boys, he's one of our boys. He's, he's like one of the original supporters of the Mongo. Captain Chris Moat, he's an amazing fisherman loves blue morn fishing is really really good at it and Man, that would have been so special if it was caught two weeks prior to that. But yeah, so Yeah, so that's a golf record. I mean biggest one in the golf And then what what was Duffy's fish like four years ago the you know, 1 ,100 pounds caught in Maryland? All right, and then two years before that, Big Rock had the biggest ones ever caught in Big Rock. I mean, we're, the fish are still here. They're good. You know, we need to continue to take care of them and grow them, but they're not, we're not, we still have those old man in the sea photos. That's what the Mongo logo is about is staying inside that amazing fish. Well, there's proof that they're still out there. I mean, that just proved it. So yeah. That's so cool. I want to get into the live baiting. Katie (49:19.534) I want to get into why it's challenging to catch live bait in the Gulf of Mexico. So when we were in Costa Rica, I keep bringing this up, but we were bait and switch fishing predominantly, which you guys, that's teaser fishing. And if a fish shows up behind the teaser, we take the teaser away and then we present them with a dead bait with a circle hook in it. Right? And then we generally get a really active aggressive bite. It's a good feed, good hook set. That's all she wrote. But we were catching our bait out there. It was Bonita and they're prolific. They're just prolific. And I've heard that catching bait in the Gulf of Mexico is a very different experience. You've already touched on how the bait was real deep on this last trip and y 'all were struggling on catching bait. A lot of times you guys will have a little bit of an easier time catching bait at night, but then you're catching bait at night and losing some very valuable sleep. as well as, you know, those bait, they go deep during, during the day because the water can get so warm. So let, can you, can you give us a little bit of Intel into how you keep your tuna tubes, what tuna tubes are and how you keep them full and what your, your best care and strategy tips are? Yeah. So that's definitely progressed over the years. I remember live baiting in like 2005 and six, somewhere around there was my first time. was fishing on a boat with a really experienced captain that was really, really good at it. And they didn't even have tubes yet, but he live baited a lot. So he basically catches bait, put it right back out. Might even get a little creative and catch a bait and keep them close on a little leash in the water. Literally, that's your live bait tube, just keep them in the water on like a little leash with a little hook through his or a clip through his nose. Whatever, get creative to keep at least one in the quiver, to put one back out. But there's... caught a lot of fish by catching them and then hooking them up, putting them right back out and then doing well that way. But obviously if you can have a quiver of baits so when you get sharks or a barracuda eats it or a porpoise eats it, now you got to go catch more bait again. So now became the tuna tube. So it started out with boats getting two or three on there and now you'll have boats with 20 on there. We have 16 on our, so obviously the more tubes you have. Katie (51:46.094) The more bait you can have, the longer you can go without having to go try to catch bait again. So 16 tubes, man, that's been a whole progression as well of how do you keep 16 fish alive? So you have to have a lot of water flow. So there's a lot of techs and all kinds of science and mechanics and figuring out how much flow and how to get the best flow. And do you want bubbles and not bubbles? And where do you put your through hole? I mean, there's so much that goes into it. And every boat's different and all that. So anyway, over the last five or six years, it's very common to buy your boat. If you're building a brand new boat, say Vikings building your boat, and you can get your tubes installed at factory or right, you know, maybe you'll refit it when you get it down to South Florida. And there's a couple of guys that specialize in that and they'll refit your boat before you even go pick it up. You go pick up your boat and you got your sonar and your tubes. And those are primarily golf boats. Golf boats, we have tubes. If you don't have tubes, you're probably not fishing in the Gulf. So not competitively. Yes. And there's a lot of guy dredging now doing phenomenal. The guys that are really good at dredging still catch tons of fish, but a lot of that's on standups. Are you going to kill that? Those are your tag release guys. So the guys that are trying to catch the big one are live baiting primarily. And then you want them on a circle hook rather than have them on a J hook. because man, all the things didn't go wrong with a J hook. So, circle hook is a really good way of catching a big fish and being able to fight it through and land it. So, yeah, so typical day is, you know, if we're showing up, you know, tournaments leaving in the Gulf, you're leaving at like 10 a 11 a you're running out to your oil rig that you've picked, or you might stop on the way, some guys stop on the way at some bottom spots and pick up some bonito. A lot of times the bonito will hold up over a natural reef. or a shallow water oil rig and picking up some bonitas first. Bonitas are usually shallower where we live and as you get out you'll start getting to the black fin and the yellow fin and there's some skipjack and things like that. Yellowtail, or not yellowtail but rainbow runners. Things like that you can catch out there too. But you're trying to catch them trolling. Some people fish on the surface for them. The guys are figured out the getting deep, getting creative. Katie (54:07.502) how to get down deep with planers or downriggers or whatnot to get down deep to where they're at. And then all kinds of different things you can catch them on, little squid imitations or minnow limitations or spoons and all kinds of different ways. You're making them on daisy chains and figuring out a way to get those fish to eat, those little baits, and then you're bringing them up, putting them in your tubes. Once you get your tubes full, you go fishing. And then some guys, while they're fishing, they got a guy on the bow with these sea keepers. That's a whole nother thing. You got a guy, these sea keepers, if it's relatively calm, they're up there casting the popper, casting little plugs, little jigs to try to catch. You got one guy who's just a bait fisherman on your bow while everybody's fishing in the back. Try to continue. That's how important the bait is. You got to have that fresh bait. So yeah, you load your baits and then you're fishing, looking with sonars. Before sonars, we just all... stayed up on the up current side of the rig. A lot of times that up current side is where the marlins will be because the school of tuna typically swims around in circles on the up current side. My theory is it's easier for them to get back to safety. If they got to swim down sea to get back to safety, it's a lot easier than having to swim up sea to get back to safety. It's like a bass or anything. Yeah, it's like a minnow or anything else. or a reef fish, they're gonna swim back. So the upcurrent side will be the busy side. That's where most of your tunas are. That's where most of your predators are is upcurrent of them. So now it's easier for them to catch fish if they're swimming down sea versus having to swim into the current. That's how I figured it. So yeah, so that's the way we used to do before sonar, but now sonar's changing the game. Now it used to be, all right, and I'm gonna sit there with baits on the water while I'm sonar fishing, looking for something to troll over at two knots, my live bait's over to that mark. But now a lot of guys aren't even putting a bait in the water until they mark a fish because they've gotten so confident in their sonar abilities to find that fish. Don't even put a bait out until they're right on top of that fish. All right, deploy. Put your baits in the water. There he is. A lot of guys are getting really good at doing that. You can tell who's good at doing that. Wow. Just watch three tournaments. And if a guy's winning or placing in each one of those three or two of those three, Katie (56:16.27) that guy is a really good sonar fisherman because that's what he's doing. He's not waiting on chance and you know, just maybe official swim by this current side. He's, he's literally feeding that fish. It's almost like teasing that fish, but you know, you don't have to tease them. Just drop a bait on it and he'll come up and eat it. Cause I think the prop wash and all that makes them think that the feeding friends of the year, whatever, at least they're paying attention to what's going on with that prop wash up there. Yeah. So it's definitely progressing. It's, it's changed. It's like every five years something different and people are getting really good at that and then five years have changed and it's something people get really good at that. But that's the thing now, the successful captains that are, especially with numbers of fish are doing is not even putting a bait in the water until. So now you don't have to bait fish near as much because you're not killing so many baits. You're not wasting them whether tiring them out or you're getting shark aid or we get a lot of sharks, a lot of barracus, a lot of porpoise around them. these rigs too. So yeah, so daytime you're trolling for them, playing in whatever you got to do. At nighttime you're jigging and jigging is pretty easy. Once you find them, at nighttime you can load your tubes and usually 30, 45 minutes you'll have some bite, you know, you'll have some eating by sharks and whatnot. Sometimes it's frustrating, if it's really rough it's sort of hard to hold up sometimes. But yeah, loading them up and then you're ready to go and definitely lose some sleep. Some guys are bringing an extra guy, just like a night driver. You know, that way he's fresh, doesn't at least not run into the rig in the middle of the night, 3 a trying to hold
00:07 | X Payments approved in 25 or 50 states- X Payments functionality; pay a friend, pay a merchant, earn interest, shop, buy content- X = YouTube, WhatsApp, Venmo, Amazon, NYT/CNN, Apple App Store … all in one app- X needs “X Apps” to become everything app like WeChat in China- $12.5b current valuation (Fidelity), -71% from Musk's Oct 2022 $44b purchase price02:42 | OpenAI cuts data deal with Financial Times- OpenAI to use FT data to train models, users to access FT summaries, quotes, and links- FT to use OpenAI for AI-focused journalism tools- $98.7b secondary market valuation, +14.8% from Apr 2024 primary round03:53 | CoreWeave's $19b valuation, +171% in 5 months- AI-focused cloud provider- $1.1b raised at $19b post-money valuation- +171% from last round in Dec 2023, just 5 months ago- Use of proceeds = increase data center infrastructure, expand to Europe- Coatue led w/ Altimeter, Nvidia, Fidelity participating05:08 | Anthropic launches mobile app- iPhone app for Claude chatbot- new subscription plan; $30/month/user for increased chatbot usage + new collaboration tools- $18.4b valuation, +2.3% from Jan 2024 primary round06:14 | Pre-IPO +0.16% for week, +25.87% for last 1yr- Week winners: Neuralink +4.5%, Ramp +4.4%, Rippling +3.2%, Chainalysis +3.2%, Groq +2.5%- Week losers: ConsenSys -8.8%, OpenAI -3.3%, Anthropic -1.9%, Chime -1.2%, eToro -1.0%- Top valuations: ByteDance $293b, SpaceX $189b, OpenAI $99b, Stripe $74b, Databricks $43b06:58 | +0.17% 2024 Pre-IPO Stock Vintage Index- www.agdillon.com/index to see all 20 Pre-IPO Stock Vintage Indexes- 2024 Vintage Index top contributors since inception: Rippling +73%, Stripe +58%, Klarna +34%, Revolut +34%, Anduril +30%- 2024 Vintage Index top detractors since inception: None. All 10 constituents are in positive territory. - Looking at all 20 vintages … here are the winners and losers for the week; …winners = Rippling +3.2%, SpaceX +1.6%, Databricks +1.5% and…losers = Automation Anywhere -20.9%, OpenAI -3.3%, Tanium -2.2%- Rippling is in 2024 Vintage Index; 14% weight, +73% from index inception, +1.4% from last primary round
Venture Unlocked: The playbook for venture capital managers.
Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.Today we have another version of Venture Unlocked shorts, and this time it will be focused on topics within the GP/LP world.Joining me again is Meghan Reynolds, who leads capital formation at Altimeter Capital. This time we discuss the significant liquidity challenges in the venture capital market, focusing on the concerns of LPs about funding future capital calls and the longer wait times for returns. With a decline in public offerings and exits, LPs and GPs are now turning to alternative strategies such as strip sales and GP-led secondaries. We highlight the need for GPs to establish clear liquidity management as the dynamics of the industry continue to change.If you're a VC investor, then I'm sure you already know about Sydecar, the go-to platform for emerging VCs to manage their SPVs and funds. Sydecar is on a mission to make private markets more accessible, transparent, and liquid by standardizing how investment vehicles are created and executed. Their powerful software allows VCs to launch SPVs and funds instantaneously, track funding in real time, and offer hassle-free opportunities for early liquidity.Whether you're syndicating your first or fiftieth deal, Sydecar acts as your silent operating partner, handling all back-office functions in a single place. Sydecar always has your back, so that you never have to worry about chasing subscription docs, lost wires, or late K-1s.With all the recent ups and downs in the private markets, the last thing you want to worry about is whether your back office is operating smoothly. Sydecar's responsive and proactive customer support team is there to assist, helping you build trust with your investors and tackle the challenges of building your firm.Visit sydecar.io/ventureunlocked to learn more.About Meghan Reynolds:Meghan Reynolds is Partner and Head of VC Capital Formation and Fundraising for Altimeter, a lifecycle technology investment firm. Prior to joining Altimeter, Meghan was Managing Partner and Co-head of Fundraising at TPG. She began her career and spent nearly a decade in the Investment Management Division of Goldman Sachs.Meghan graduated from the University of Notre Dame.In this episode, we discuss:(02:00) The current state of the venture capital market and LP perspectives on liquidity and the impact of market resets on traditional exit opportunities like IPOs and M&As(04:00) Liquidity and the challenges for LPs in funding upcoming capital calls due to increased venture activity and the need to adjust liquidity timeline expectations(09:00) The complexities of exit strategies and the necessity for alignment between GPs and LPs on exit timing(12:57) Using “Strip sales” as a liquidity management strategy are detailed, where a portion of a fund's assets are sold to secondary buyers, and practical examples of how this strategy has been effectively implemented(21:56) The need for venture capital to adopt more institutional and LP-friendly practices akin to the private equity evolution post-2008, driven by current fundraising challenges that compel VC funds to innovate in liquidity management and LP relationshipsI'd love to know what you took away from this conversation with Meghan. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
In this podcast episode, Michel Tricot, CEO and Co-founder of Airbyte, discusses the nuances of startup culture, including the importance of company values, the difference between startup and corporate cultures, and strategies for hiring people who align with those values. Tricot shares insights on Airbyte's approach to data movement, the company's growth, and how they maintain and evolve their company culture as they scale. The conversation also covers the critical aspect of dealing with risk and uncertainty in a startup environment, the significance of being a 'CEO of your project,' and the role of feedback and company values in guiding behavior and decision-making. Highlights 01:22 Diving into Startup Culture: Definitions and Distinctions 02:14 Evolving Company Values at Airbyte 03:43 The Hiring Process: Aligning with Company Values 07:08 Embracing Failure and Learning from It 08:41 Maintaining Culture and Values in a Growing Startup 11:45 Revisiting and Reinforcing Company Values Regularly 20:48 Advice for Startups on Establishing Company Values Michel Tricot is the co-founder and CEO of Airbyte, the leading open-source data integration platform that allows replicating data from any APIs, databases & files to data warehouses, data lakes, and any other destinations. Currently, the Airbyte user community is more than 18,000 members and Airbyte has been deployed more than 140,000 times. Airbyte has more than 350 data connectors available for its data integration platform. That is more than any other competitor or platform and accomplished in the company's 3 years history. The company raised over $180M from Accel, Altimeter, Benchmark, Coatue, and Y Combinator. Prior to starting Airbyte, Michel was a founding member & Director of Engineering at rideOS, and Head of Integrations and Director of Engineering at LiveRamp. With Airbyte, Michel aims to solve one of engineers' biggest problems with data: break down all data silos and make data accessible and available to everyone, everywhere. https://www.linkedin.com/in/micheltricot/ https://www.linkedin.com/company/airbytehq ---- Thank you so much for checking out this episode of The Tech Trek. We would appreciate it if you would take a minute to rate and review us on your favorite podcast player.Want to learn more about us? Head over at https://www.elevano.comHave questions or want to cover specific topics with our future guests?Please message me at https://www.linkedin.com/in/amirbormand (Amir Bormand)
What lies ahead for stocks at large, for tech as a sector and the broadening of the market? Solus' Dan Greenhaus, Chris Harvey from Wells Fargo and Crossmark's Global Investments break down their strategies. Plus, star Apple analyst Erik Woodring weighs in on whether or not the company's big event coming up could shift investor sentiment. And, Tesla shares driving higher today. We tell you what's behind that pop and what Altimeter's Brad Gerstner had to say about the EV maker.
NOTE| This episode is longer than usual→ ‘Top Of The Game (in) Overtime' shows are released occasionally BRAD'S BIO Brad Gerstner is a serial entrepreneur, venture capitalist and hedge fund manager. He is founder, chairman and CEO of Altimeter Capital, a leading technology investment firm he started during the 2008 financial crisis. Brad and his team are known for fundamental analysis and deep expertise in consumer internet, software and artificial intelligence across the capital formation cycle, a style colloquially known as crossover investing. The efficient and productive use of capital “knows no buckets”, and Brad is at the forefront of these crossover opportunities across the private, quasi-public and public markets. He has been involved in over 100 IPOs and some of his notable investments include Snowflake, Bytedance (TikTok) Zillow, Uber, Meta (Facebook), Plaid, Okta, Gusto and Zillow among many others. Brad was born and raised in Indiana and his father's failed business taught him many lessons early in life. “In life you are either running towards something or away from something” as he puts it. His investing career started while day trading to pay for law school at Indiana University, followed by being appointed to be Deputy Secretary of State of Indiana, the youngest in history. His true calling was in business and attended Harvard to obtain an MBA. Right after graduation he was a founding principal of General Catalyst and worked / co-founded / sold several travel and consumer internet related startups, followed by serving as a portfolio manager at PAR Capital and eventually launching Altimeter. In 2016, Altimeter was the largest shareholder of United and helped usher changes at the company, including its board. In 2022, Gerstner wrote a now seminal open letter to Mark Zuckerberg stating Meta was losing focus, had too many employees and was losing investor confidence recommending that the company cut expenses by 20%, focus on AI and limit Metaverse spending to $5 billion a year. A few weeks later, Meta effected many of his recommendations and the company's stock has increased ~4X since. He has been a regular guest on the All In Podcast and has a podcast (BG2) with co-host and former Benchmark GP Bill Gurley. Brad recently unveiled Invest America, a plan to create a broad and passive basket of stocks representing the American economy for every child in America rooted in the power of capitalism, compound interest and returns. Brad is at the top of his game and his influence is hard to overstate, underpinned by his intellect, vision, capital allocation savvy, curiosity and belief in opportunity for all – no matter where one starts. I've known Brad for 25 years, is a great friend and every time we speak I learn a few things, including this episode - enjoy this remarkable human being. BRAD RELATED LINKS Brad's Twitter CNBC Report Meta Board & Mark Zuckerberg Time to Get Fit Letter On CNBC Squawk Box discussing Invest America On Delivering Alpha re: AI BG2's First Episode on YouTube + Twitter Profile on Forbes (Midas List 2022) GENERAL INFO| TOP OF THE GAME: Official website: https://topofthegame-thepod.com/ RSS Feed: https://feed.podbean.com/topofthegame-thepod/feed.xml Hosting service show website: https://topofthegame-thepod.podbean.com/ Javier's LinkTree: https://linktr.ee/javiersaade & Bio: https://tinyurl.com/36ufz6cs SUPPORT & CONNECT: LinkedIn: https://www.linkedin.com/showcase/96934564 Facebook: https://www.facebook.com/profile.php?id=61551086203755 Twitter: https://twitter.com/TOPOFGAMEpod Subscribe on Podbean: https://www.podbean.com/site/podcatcher/index/blog/vLKLE1SKjf6G Email us: info@topofthegame-thepod.com THANK YOU FOR LISTENING – AVAILABLE ON ALL MAJOR PLATFORMS
Venture Unlocked: The playbook for venture capital managers.
Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.Today we have another version of Venture Unlocked shorts, and this time it will be focused on topics within the GP/LP world. Joining me for this around-the-water-cooler recurring series is Meghan Reynolds, who leads capital formation at Altimeter Capital. Meghan recently attended iConnections in Miami, one of the biggest global capital intro summits in the world, which served as inspiration for this episode. We discussed what she observed during the summit, including how LPs are thinking about early-stage and late VC, and the place for venture overall in private portfolios.Hope you enjoy our episode!A word from our sponsor:Invest in innovation. Allocate allows investors to access top-tier private funds and co-investment opportunities within the technology sector.Despite the enormous growth of the private markets and the rapid increase of retail demand for private alternatives, investing in the highest quality private assets within the innovation sector still remains limited to institutions and ultra-connected high net worth individuals.With Allocate, wealth advisors, banks, family offices, and other qualified investors can have a streamlined way to responsibly invest with confidence.Go to allocate.co to find out more and please sign up to the waitlist to learn more and get early access to the platform.About Meghan Reynolds:Meghan Reynolds is Partner and Head of VC Capital Formation and Fundraising for Altimeter, a lifecycle technology investment firm. Prior to joining Altimeter, Meghan was Managing Partner and Co-head of Fundraising at TPG. She began her career and spent nearly a decade in the Investment Management Division of Goldman Sachs.Meghan graduated from the University of Notre Dame.In this episode, we discuss:(02:11) Report from the iConnections summit in Miami and what it means for the VC industry(06:38) The complex dynamics of fundraising in the current venture capital landscape(09:49) The recalibrated expectations among LPs with a strategic emphasis on seed and Series A investments as a method to hedge against portfolio volatility(17:01) Forecast for a tough adjustment period for Unicorns and the venture capital ecosystem, with some hope on the horizon(19:00) Challenges posed by multiple compression rounds and the reality for companies looking for exits(21:11) The long journey for VC-backed companies in navigating valuation adjustments and exit strategies, with an increased reliance on the secondary market for liquidity (23:12) The extended impact of the substantial funding raised in 2021, adding complexity to the venture capital environmentI'd love to know what you took away from this conversation with Meghan. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
Apoorv Agrawal is a partner at Altimeter, a tech-focused crossover firm with investments in iconic companies such as Snowflake, Twilio, UiPath, Uber, Okta, Roblox, HubSpot, GitLab, and more. He focuses on software and AI investments. He was previously an investor at Softbank and Steadview. Prior to this, he was building AI software at Rocket Fuel and Palantir as an engineer. He continues to code to this day and has built AltimeterGPT to augment their research efforts. He has a bachelors in computer science and an MBA from Stanford. (00:33) The Rise of MANG VC (03:01) Capital Deployed by MANG VC (04:27) Impact of ChatGPT on Investment Strategies (07:16) The "Round Trip" Effect (10:05) Legality and Market Distortion (12:19) Margin Profiles of AI Businesses (15:28) Valuing Modern AI Businesses (18:30) Market Distortions and Downstream Effects (21:56) Considerations for Raising Capital from MANG VC (26:19) Role of MANG VC in the Next Two Years (35:02) Rapid Fire Round Apoorv's favorite book: Man's Search for Meaning (Author: Viktor Frankl)--------Where to find Prateek Joshi: Newsletter: https://prateekjoshi.substack.com Website: https://prateekj.com LinkedIn: https://www.linkedin.com/in/prateek-joshi-91047b19 Twitter: https://twitter.com/prateekvjoshi
00:09 | ElevenLabs AI $1b valuation- AI-powered browser-based app for generating lifelike voices; applications for audiobooks, film dubbing, game character voices, marketing- $80m Series B at $1.0b+ valuation; co-led by Andreessen Horowitz, former GitHub CEO Nat Friedman- 10x increase vs last round in Jun 2023- co-founded in 2022 by ex-Google and ex Palantir employee02:00 | Kazakhstan fintech Kaspi.kz IPO at $17b- Kazakhstan fintech offering payments, e-commerce, buy now pay later, and e-grocery products- $17.5b IPO last week on the London Stock Exchange- $1b raise that went to founders/CEO, no $s to company- Morgan Stanley, J.P. Morgan, and Citigroup underwrote the deal03:13 | Klarna eyeing IPO at “triple digit” growth or valuation?- Klarna offers buy now pay later, debit, and marketplaces services- Potential $15b IPO coming soon- US market is largest business segment with Klarna Plus launching this week; $7.99 premium service- CEO Siemiatkowski stated that his investors need a “triple digit” IPO; unclear if this means $100b+ valuation or 100%+ return on investment- Klarna closed rounds at $45.6b, $31.0b, and $10.7b over the last four years so some investors current have a negative return- Current secondary market valuation is $8.1b, +20.5% vs last primary round in Jul 202204:51 | Brex fires 282 employees- 20% reduction in staff- cash burn rate of $17m/month in Q4, down from $22m/month in Q4 2022- annualized net revenue reached $279m in Q4, +32% yoy but stagnating in 2H 2023- enough cash to last through Mar 2026- $3.7b secondary market valuation, -70% from last primary round at $12.3b valuation in Jan 202206:08 | Figma down 50% after Adobe deals crumbles- Figma offers designs tools for technologists- Adobe was acquiring Figma for $20b, deal was killed by European regulators- recent hires are being offered equity at a $10b valuation, -50% from the Adobe offer- longer-servicing employees will receive additional shares in the Fall- company is offering a voluntary exit program; 3 months pays and vested equity07:05 | xAI $6b raise at $20b valuation!- xAI is Elon Musk's AI-large language model that is training and distributed though X (Twitter)- originally raising $1.0b, xAI is now raising $6.0b- $20b valuation is at the top of the previously announced $15b-$20b range- X owns 25% of xAI so X stands to see a $5b valuation pop once the xAI round closes08:03 | Chipmaker Cerebras considering IPO- AI chips are hot right now in the public markets, good time for Cerebras to IPO- looking to IPO north of its $4b valuation it posted in 2021- current investors; Abu Dhabi Growth Fund, Altimeter, Benchmark, Coatue08:59 | Pre-IPO +1.88% for week- Week winners: Notion +24.2% (…on the back of its new calendar product launching), ConsenSys +14.2%, Hugging Face +7.9%, Klarna +7.9%, Bytedance +5.7%- Week losers: Airtable -8.6%, OpenAI -7.1%, Anthropic -1.9%, Deel -0.71%, Databricks -0.31% - Top valuations: ByteDance $282b, SpaceX $182b, OpenAI $93b, Stripe $56b, Databricks $48b lead in current valuationInvest in pre-IPO stocks with AG Dillon Funds - www.agdillon.com
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Jamin Ball is a Partner @ Altimeter Capital where he sits on the board of Airbyte, Clickhouse, dbt Labs, Prisma, Tabular. Jamin has also led investments in Deel, MotherDuck, Personio and Starburst. Prior to Altimeter, Jamin spent 5 years at Redpoint where he led investments in Workato, Monte Carlo, Cityblock Health, Root Insurance. Ed Sim is one of the best seed round investors in venture as the Founder and Managing Partner @ Boldstart, Ed focuses specifically on developer, infra and SaaS at pre-seed and seed round. Over the last decade, Ed has backed some of the best including Snyk, BigID, Kustomer, Front and Superhuman. In Today's Episode We Discuss: 1. How to Invest Successfully in 2024: What are the three biggest mistakes growth investors can make in 2024? Why should founders not start a platform company? What were Jamin and Ed's biggest mistakes from the ZIRP era? How does Jamin justify paying an $8BN price for Hopin? What were his lessons? 2. The M&A Markets in 2024: Did Figma kill the M&A markets for 2024? What should we expect in M&A? Why will private companies buying private companies be a massive segment in 2024? What are Ed and Jamin's biggest tips to founders considering selling their company in 2024? 3. When Will IPOs Come Back: What will be the catalyst to the opening of the IPO markets? Will Stripe and Databricks go public in 2024? What others should we expect? What are the three requirements for a company to go public in 2024? 4. Firesales: Investors Need Cashback: Why does Ed believe now is the time in the cycle where late-stage investors want cash back to distribute back to their LPs or to recycle? What should we expect to see in terms of acqui-hires and firesales? What are the different incentives when comparing founders vs early stage VCs vs late stage VCs when it comes to acquisitions?
Thank you for joining us for this thought-provoking episode featuring Charlene Li, New York Times bestselling Author, Speaker, Advisor, and Leadership Coach, as she unravels the truth about disruption and growth. Many companies strive for disruption, believing it's the key to everlasting market success. However, according to Charlene, the reality is quite different. Disruption is not the catalyst for growth; rather, growth itself is the force behind disruption. With her wealth of experience and insights, Charlene guides us through the complexities of achieving disruptive growth, emphasizing that it's an immensely challenging journey. Charlene Li shares her observations on how organizations, regardless of their industry or technological prowess, can develop a disruptive mindset.
This Week in Startups is brought to you by… OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at openphone.com/twist DevSquad. Most dev agencies only offer developers. Why? Because product management is hard. Get an entire product team for the cost of one US developer plus 10% off at http://devsquad.com/twist. Squarespace. Turn your idea into a new website! Go to Squarespace.com/TWIST for a free trial. When you're ready to launch, use offer code TWIST to save 10% off your first purchase of a website or domain. * Today's show: Bill Gurley, Brad Gerstner, and Jason Calacanis join David Weisburd to discuss the market downturn's impact on startups, including shutdowns and shifting investment strategies (1:29). They also debate the AI boom (54:50), chatbots' future potential and hype (1:01:11), and which tech giants may perform best or worst in 2024 (1:20:32). * Timestamps: (0:00) David Weisburd hosts Bill Gurley, Brad Gerstner, & Jason Calacanis to discuss the state of tech markets (1:29) Startup shutdowns in 2023 vs dotcom crash (3:52) Perspective on current market from Bill Gurley (7:52) Brad's outlook on startup shutdowns continuing in 2024 (11:48) OpenPhone - Get 20% off your first six months at https://openphone.com/twist (13:16) Different investor perspectives based on investment stage (16:47) Altimeter's recent investing activity (25:32) DevSquad - Get an entire product team for the cost of one US developer plus 10% off at http://devsquad.com/twist (26:30) Reflecting on past IPOs and paths to building businesses for growth (36:40) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/twist (38:07) State of Series B/C deals in 2023 vs 2021 peak (42:42) Why now is a great time to start a company (47:17) Jason's theories for success in venture (49:42) Abundance of technical talent in Silicon Valley and impact of AI on company size and competition (54:50) AI investments in 2024 (1:01:11) Launguage models raising large rounds quickly and the potential for LLMs to hit a ceiling soon (1:05:18) The best case for Meta being a leader in AI and Apple's position (1:08:55) Importance of voice recognition for AI interfaces, challenges of enabling transactions via AI, and consumers choosing services via AI (1:20:32) Picks for best and worst performing tech giants in 2024 * LINKS: Unicorn Investors article: https://news.crunchbase.com/venture/top-unicorn-investors-eoy-2023/ Bill Gurley's Above the Crowd article: https://abovethecrowd.com/2011/05/24/all-revenue-is-not-created-equal-the-keys-to-the-10x-revenue-club/ * Follow David X: https://twitter.com/DWeisburd David's Podcast: https://limitedpartnerpodcast.com/ * Follow Brad X: https://twitter.com/altcap * Follow Bill X: https://twitter.com/bgurley * Follow Jason: X: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland * Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast
Bloomberg Radio host Barry Ritholtz speaks with Brad Gerstner, founder and CEO of Altimeter Capital, a technology-focused investment firm, which has about $15 billion in assets under management. Altimeter manages a variety of venture and public funds and serves as a long-term partner to companies as they enter the public markets. (This episode was recorded on Nov. 8.) See omnystudio.com/listener for privacy information.
Venture Unlocked: The playbook for venture capital managers.
Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.We're thrilled to bring on Brad Gerstner, Founder and CEO of Altimeter Capital. Altimeter was first founded in 2008 during the GFC with an initial fund of only $3 Million which Brad raised from friends and family. Today the firm employs both private and public strategies, with over $17.9B in AUM.Altimeter takes an incredibly focused and high-conviction approach to investing and has backed companies such as Snowflake, Unity, Gusto, and Modern Treasury. And now manages a variety of venture and public funds, taking a hybrid and pragmatic approach to funding, using a variety of vehicles depending on stage and need to give companies and managers access to capital.About Brad Gerstner:Brad Gerstner is the Founder and CEO of Altimeter Capital. Before Altimeter, Brad worked as a multiple-time entrepreneur, was a founding principal of General Catalyst, and worked at PAR Capital. He is also an active thought leader on all aspects of the innovation economy, including numerous media appearances and a recurring role on the popular All-In Podcast. And Brad is working to improve the future of the country through efforts such as Invest America.He earned a bachelor's from Wabash College, a JD from Indiana University, and an MBA from Harvard Business School.In this episode, we discuss:* (2:17) Brad discusses his early life in Indiana and the influence of his father's entrepreneurial journey.* (3:23) Brad talks about his path to law school and subsequent shift towards technology and entrepreneurship.* (4:10) His impulsive trip to Silicon Valley and his first experiences there.* (7:18) Brad discusses his insights into public and private markets and the realization of the need to participate in the venture market.* (11:24) He explains the motivation and founding principles behind Altimeter, focusing on competitive advantage.* (12:28) Brad highlights Altimeter's unique approach, combining venture capital experience with public market sensibility.* (14:02) He speaks about the importance of founders choosing partners that provide intellectual resources along with capital.* (18:41) Brad reflects on Altimeter's investment strategy and acknowledges that they haven't always done everything perfectly.* (20:44) He discusses the cyclical nature of the venture business and the importance of the price of entry in investments.* (23:24) Brad talks about technology super cycles and how they improve lives and outcomes.* (28:19) He elaborates on the role of cloud computing and AI in reshaping industries and improving consumer experiences.* (30:09) Discussing the evolution of search engines, Brad talks about the transition from Google as a card catalog to an answer bot.* (32:32) He shares insights on the power of AI in business and its impact on efficiency and profitability.* (39:45) Brad explains Altimeter's disciplined approach to valuation and their investment decision-making process.* (44:51) He emphasizes the fiduciary duties of board members to all shareholders and the importance of research-based decision-making.* (47:11) Brad reflects on his work with Richard Lugar and his influence on Brad's view of the world.* (50:59) He discusses the Invest America initiative and its goal to invest in the future of American children and democracy.* (54:03) Brad talks about the need for job retraining and economic participation in the face of labor displacement caused by AI.I'd love to know what you took away from this conversation with Brad. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
Our teacher today is Brad Gerstner, founder of Altimeter Capital. Brad is an exceptional investor and gifted teacher with a unique ability to distill complex ideas into clear, qualitative insights. In this session, Brad will share lessons learned across the full arc of his career that has spanned everything from RV manufacturing to politics to founding and operating several technology companies to building Altimeter into one of the preeminent technology investors across all stages, public and private. We also discuss Invest America, a bipartisan grassroots movement led by Brad to make every child in the US a saver and investor beginning the day they are born. We're delighted to bring this class to you in collaboration with Notre Dame professor Jim Sullivan, co-founder of the Lab for Economic Opportunity, and inaugural chair of the Notre Dame Poverty Initiative. Please enjoy our class with the wonderful Brad Gerstner. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI. This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club's tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI. ----- Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit staygrovey.com. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @ArtofInvest | @Buhrman_Rick | @PaulBuser | @JoinColossus Show Notes (00:02:12) - (First question) - Tracing Brad's evolution as an investor (00:08:48) - Reflecting on his parents' tangible contributions to his career (00:10:43) - Examining the influence of his college and law school experiences (00:15:16) - Key figures and events shaping Altimeter Capital (00:19:18) - Crafting a company with substantial impact (00:21:27) - Choosing an unconventional route (00:33:09) - Significant relationships that fostered the development of Altimeter Capital (00:44:47) - Implementing the principles of Essentialism in life and business (00:51:50) - Launching the Invest America program (01:04:07) - Evaluating the S&P 500 as an investment tool for Invest America (01:09:36) - Recognizing and leveraging market trends (01:27:49) - Contemplating the desired legacy of Brad's life's work
Liquid - Crypto Investing | Startup Pitch | Token Investing and Crowdfunding.
James Ho is co-founder and Managing Partner of Modular Capital, a fundamental and thesis driven crypto investment firm that invests across liquid tokens and early stage venture. Previously, James was a Principal at Altimeter Capital, a $10 billion technology crossover investment firm where he focused on fintech and crypto investments. Prior to Altimeter, James was a Vice President at D. E. Shaw, a $50 billion global multi-strategy hedge fund, covering technology, payments and fintech in the public markets. He also spent time as a software developer at Bridgewater. James studied Statistics at Harvard, graduating magna cum laude. ----- This episode is brought to you by: Global Coin Research ("GCR") is a community-first research and investment DAO. GCR's mission is to create a community-driven investment DAO where the best web3 deals are sourced by community members for community members. This discussion was recorded in our Discord. You can find more information about us and how to join at GlobalCoinResearch.com ----- Remember to rate, review and subscribe to the Podcast!
Erichsen Geld & Gold, der Podcast für die erfolgreiche Geldanlage
Die Aufgaben, die man sich selbst stellt, sollen natürlich auch eine gewisse Herausforderung darstellen. Von daher möchte ich heute in dieser Podcast-Folge die Frage besprechen: Apple, Microsoft oder Alphabet/Google - welche Aktie wird auf Sicht der nächsten zwei bis drei Jahre die beste Performance liefern? "Nichts einfacher als das" ... so würde ich es auch wieder nicht sagen, aber: gehen wir mal frisch ans Werk! ► Den neuen Podcast “Buy The Dip” findet ihr hier: https://buythedip.podigee.io ► Jetzt unseren Buy The Dip YouTube-Kanal abonnieren: https://www.youtube.com/@BuyTheDipPodcast?sub_confirmation=1 ► Schau Dir hier die neue Aktion der Rendite-Spezialisten an: https://www.rendite-spezialisten.de/aktion ► TIPP: Sichere Dir wöchentlich meine Tipps zu Gold, Aktien, ETFs & Co. – 100% gratis: https://erichsen-report.de/ Viel Freude beim Anhören. Über eine Bewertung und einen Kommentar freue ich mich sehr. Jede Bewertung ist wichtig. Denn sie hilft dabei den Podcast bekannter zu machen. Damit noch mehr Menschen verstehen, wie sie ihr Geld mit Rendite anlegen können. ► Mein YouTube-Kanal: http://youtube.com/ErichsenGeld ► Folge meinem LinkedIn-Account: https://www.linkedin.com/in/erichsenlars/ ► Folge mir bei Facebook: https://www.facebook.com/ErichsenGeld/ ► Folge meinem Instagram-Account: https://www.instagram.com/erichsenlars Die Quellen der Audio-Zitate - Abgerufen am 06.11.2023: YouTube-Kanal:CNBC Video: Meta regained investor confidence in latest earnings report, says Altimeter's Brad Gerstner URL: https://www.youtube.com/watch?v=Z1-zyy_zb74 YouTube-Kanal: Yahoo Finance Video: Apple earnings top expectations, Investors can 'breathe a sigh of relief' on Q4 results: Analyst URL: https://www.youtube.com/watch?v=XzFEGaafhJc& Die verwendete Musik wurde unter www.soundtaxi.net lizensiert. Ein wichtiger abschließender Hinweis: Aus rechtlichen Gründen darf ich keine individuelle Einzelberatung geben. Meine geäußerte Meinung stellt keinerlei Aufforderung zum Handeln dar. Sie ist keine Aufforderung zum Kauf oder Verkauf von Wertpapieren.
Today on the show, we play a rousing session from the recent 10th Annual Skift Global Forum that was held in New York City late last month. The session, titled "Travel's Future as AI Reshapes The World," features tech entrepreneur, investor, and podcast host, Jason Calacanis, along with Brad Gerstner, founder and CEO of Silicon Valley investment firm Altimeter, in discussion with Skift Founder and CEO Rafat Ali about the coming days when generative AI will become reliable and have a real effect on how the world operates. And they believe that could be the case in some areas in as soon as a year. If you enjoy this insightful and, at times, provocative conversation, learn about how to attend our next next Skift Live event by visiting Live.Skift.com. You can also find full video recordings of this session and many others at skift.com and on the official Skift News YouTube channel.
In this 100th Fintech Leaders episode, we bring you someone extra special. Miguel Armaza sits down with Josh Reeves, CEO & Co-Founder of Gusto, one of the largest HR & Payroll companies in the US, focused on serving small and medium-sized businesses. In addition to HR, payroll, and benefits, Gusto is a strong player of embedded fintech solutions and recently announced a very large partnership with JPM Chase.Founded in 2011, Gusto now serves over 300,000 businesses in the US and in 2022 Gusto had revenues of more than $500 million dollars. They are backed by General Catalyst, YC, Kleiner Perkins, Obvious Ventures, Felicis, Ribbit, CapitalG, Altimeter, and a very long list of fintech investors.We discuss:Finding Product-market fit in the highly complex SMB sector Becoming a strategic partner and building the people platform for small businessesLessons from building and launching Gusto's embedded fintech strategyHow Gusto built a structured and scalable hiring processInsights and learnings from the evolving role of CEO… and a lot more!Want more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, or your favorite podcast app for weekly conversations with today's global leaders that will dominate the 21st century in fintech, business, and beyond.Do you prefer a written summary, instead? Check out the Fintech Leaders newsletter and join almost 60,000 readers and listeners worldwide!Miguel Armaza is Co-Founder and General Partner of Gilgamesh Ventures, a seed-stage investment fund focused on fintech in the Americas. He also hosts and writes the Fintech Leaders podcast and newsletter.Miguel on LinkedIn: https://bit.ly/3nKha4ZMiguel on Twitter: https://bit.ly/2Jb5oBcFintech Leaders Newsletter: bit.ly/3jWIp
Market Proof Marketing · Ep 303: Things We Never Need To Say In The Industry Ever AgainIn this episode, Kevin Oakley, is joined by Beth Russell and Julie Jarnagin! Kevin recently got back from a conference and shares his thoughts on the experience as well as the importance of understanding your audience. Together, they reflect on the uncomfortable challenge of change but agree that it's necessary and urge listeners to surround themselves with people who will be honest with you and genuinely help you through it. The team discusses things that never need to be said in the industry ever again!Story Time (11:24)Julie had a builder ask if video was “worth it?”It's Beth's birthday week and so she is reflecting over the change this last year.Kevin brings up things we never need to say in the industry ever again News (40:04)Will the Mortgage Rate Spread Narrow or Not? That is the Question (https://blog.firstam.com/economics/will-the-mortgage-rate-spread-narrow-or-not-that-is-the-question)1 in 10 Home Sellers Are Moving Because They're Being Called Back to the Office: Survey (https://www.redfin.com/news/moving-return-to-office-survey-2023/)Where Is the Housing Market Headed This Fall? (https://www.probuilder.com/where-housing-market-headed-fall)Higher mortgage rates continue to impact the housing markets (https://apple.news/AW-eEur1VTc-0uqCPW8w2UQ)Things we love / things we hate (53:31)Beth hates unpackingJulie is listening to a podcast called "The Dr. John Delony Show"Kevin is enjoying the “Compound and Friends” podcastQuestions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities can be found at Do You Convert All Access or on the Market Proof Marketing Facebook group.Subscribe on iTunesFollow on SpotifyListen On StitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, Jackie Lipinski, Julie Jarnagin, and other team members from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you!Transcript:KevinHi, I'm here. This is six calls into the day Kevin!JulieThat's a lot.KevinMy favorite kind of days. But I'm here. We're going to do it. And I guess feedback. Our producer, I think it was maybe just her feedback, but she likes spicy Kevin.BethSo I think we all love spicy. Kevin's spicy and like trolling. Kevin Oh, I live for it.KevinYeah, I remember the 10,000 hour thing. You school this on?JulieI think.KevinSo I just got exposed at this conference. That's about nothing other than learning. And the people are all totally different is again, that realization of like, I'm old because I care about things that my 20 year old self would have been like. Why does that have what does it matter? Why are we thinking about, you know, what is space made of like it's empty space, you moron, move on.KevinBut I'm here. I'm listening to this guy talk about the units that make up space and how that defines time and thinking. How does this apply to what we do? And I can make connections. And it's it's weird. Just I remember was like going it's it's this 10,000 hour thing of how do I translate that to someone who only has 100 hours in in a way that's meaningful because, you know, like I was trying to download our team about one of my takeaways and then I'm like, this won't mean anything to some people.KevinLike though they will actually think, why did Kevin waste his time going to California to listen and learn about this? And so any time you're sharing, you have to understand your audience and and where they are. But it's it gets harder and some ways it gets easier. This is why now remember why I wanted to talk to you about this Julia is it's it's somewhat easier to process through the stuff like on the back burner of your brain, but it's even harder.KevinLike I'm finding myself pausing more often, like I have a small seizure and it's because I'm it's not because I don't understand the material. It's thinking like, how do I reframe this or filter it for this person who's been in our industry for a month?JulieYeah.KevinYeah. That gets incrementally harder, I think, at least for me.BethI mean, it's hard. I just had a call this week where I was like, I how? What did I just say? Because it was one of those challenging situations of like, how is and that's exactly what's happening to me. It was like there was a stop in my brain of like trying to filter out what was going on in my head and what was coming out of my mouth in a way that would be digestible to the person on the other line.BethAnd it probably was to them. But to me I was like, No, that I need to get back on a rhythm.BethBut that's where the storytelling comes in and I think y'all are both great at that. Even when you don't realize that you're pulling in a story or an example or something. So I see that, you know. Kevin, if we're sitting in on a call and you're pulling from something, some example you've heard or a story, so I think that's what you're trying to attach, the two things you're trying to attach the concept to whatever rolodex of stories and examples are in there somewhere to connect them.KevinYeah. Here's here's the most recent example of this that I still am processing a little bit, is working with a rather I mean, a very large homebuilding organization who wants to create a new set of dashboards on a quarterly basis to give to their leadership team about marketing and online sales and how it's going and they showed an example of an old one that they've been doing internally.KevinI think some other people were helping them and it was like 45 pages and we rebuilt one after much thinking and work. And it's nine pages, I think, or sorry, it's 11 pages. It's 11 pages, but the first four pages are just an illustration of the proverbial funnel illustrating at the state level, individual market level, etc., how everything is working.KevinLike all of the important metrics, the conversion ratios and visually how they all connect and then as I'm thinking about the audience that they're going to give this to and, and this is a presentation format too, I think it's important, understand. So they're like the person who used to do this, they hated their life for that entire day because when I was there trying to stand up and talk, they went through all 45, 50 pages and watched everyone's eyes glaze over or start looking at their phone or, you know, they and we interpret that sometimes as how those people are.KevinSo rude. How could they not? But to me it was more like, actually, you should probably never get past these first five pages that are funnel analysis with this audience. If you get to page whatever, and it's a 14 way breakdown of how their Google ads are performing, something's wrong because it's not it's not the level that a CEO CEOs should be at ever.BethYeah, yeah. They need something to anchor on to. And with that visualization visual visually.JulieThis.KevinJust makes me feel so good about myself. I'm sorry, you're not supposed to.BethThe word with the funnel.KevinThere's many words.JulieLike.BethOh, well, it's something they can anchor to because if you just start going through numbers, if they're trying to connect, they're just going to grab a random stat number and get stuck on that and you're going to get into a weird hole of questions that you may not want to be into. So that gives them a good first thing to hang on to as you're taking them through the journey.KevinWell, okay, I'm going to try to keep my brain and then we'll be we will move on to the real show here in a second. But one thing I through my brain is this is a bad idea. Like as a as a builder partner, they're going to hate this idea that I'm presenting of making the funnel the main part and then being able to break out why afterwards or during Q&A.;KevinBut just really focusing on on funnel analysis. And I kind of saw a little bit like, oh, what if they're not comfortable hanging out at that level for 20 minutes? What the leadership team, there's some people are like, hurry up and get to the part where like I'm in every day and I understand and I know that I know more than they do about it.KevinAnd so I feel comfortable presenting and talking and looking through versus staying high level with high level individuals sometimes can be intimidating. And so there is a little bit of storytelling and example giving that had to give them the confidence of you don't even have to know all the answers. You have to understand the relationships. But that's part of like this will work if they start getting excited and talking to each other about how come appointments are converting to sales in the same way as they were last quarter?KevinOr why do we think so? So is this it's this weird thing of am I just shortcutting the shortcut or is this really the most important anyway, that's.BethI think it's a matter of is the presentation as important as the dialog that occurs around it? You know, like if the presentation doesn't invoke an interesting dialog that can lead to change, then what is the point of the presentation in the first place? It's just another hour of someone else's time. This is why I love the fact that I'm married to my husband and I know that he is listening right now, so shout out might, but he does like he briefs for a living.BethHe briefs very important people for a living and he is phenomenal at his ability to take a very complex subject matter and articulate it in a way that not only gets people engaged and provokes conversation, at least this is what I get. I don't really know what he does. So this is just my perception of this.KevinIf he told you, he'd have to kill you, Yeah.BethThis is my perception of it. But it's fascinating. Watch and watching him talk about the art around the briefing. And it's just like us. Like it's the art around coaching. It's the art around speaking to high level individuals. It's there is an art about it, and you have to tailor what it is that you do to your audience in order to provoke conversation that will lead to change and it's fascinating how many people actually do that wrong.KevinYeah, senior leadership's perspective usually has. Why is this person telling me numbers that I can look at and see numbers?JulieYeah.KevinYou don't need to be presenting like a first grader at show and tell.BethYeah. And it's like, how many times do we hate going to conferences where people are just reading slides? Yeah, like it's you. You've got, you got to make a conversation out of it. And just like in home and home, buying and selling and in marketing for our builders, we have to create emotion during the process because emotion is oftentimes a trigger to everything else that follows.BethAnd so like the ability to do that with high level, you got to you got to like all somewhere to start that conversation.KevinYeah. And not be afraid of a little bit of.BethConflict.KevinConflicts. Right. Fact a lot of times as a marketer, you're that's why I keep going back to the example of Survivor. Like players who win Survivor sometimes are creating conflict artificially when there wasn't one or the amplifying conflict in another party sometimes. I mean it's it's it is such a good like like chess and poker good analogy. Okay a little palate cleanser before I start the show.KevinSean Carpenter texted me those. Sorry, Sean, you didn't give me permission to share it, but you texted me, so you should know better. He said It blew my mind today, listening to the podcast that Jenn wanted to be a vet when she was younger. I feel like this should be a like Red and Jerry Seinfeld voice. And so she ended up marrying her husband and now she still gets to hear Barkin all day at work.KevinDog emoji, laughing face Emoji. All right, let's get started.BethAnother thing that we like more as we get older, come you.KevinYeah. All right. I mean, I want to stand up, you know? All right. Welcome to marketers marketing the podcast from the industry leaders. How do you convert where we talk about the current and future state of marketing and online sales for builders and developers across the globe? We're not here to sell you. We're here to help you and to try and elevate the conversation.KevinIs there a topic you'd like us to cover or a question you'd like us to answer? We'll do it. Simply send an email to show at. Do you convert? Dot com. Welcome to episode 303. I'm Kevin O'Kelly. And with me today is Beth Russell and Julie Jernigan.JulieAnd so.BethI.KevinWe don't have to yeah, we keep talking about this, but there's nothing else to say. We already said it, so we just go right into story time. All right, Julie.JenOkay. I have a fun conversation with the builder this week, so she said, we have this great binder, high quality makes videos for us, but they're really expensive. And she said, we do. You know, that's kind of our company branding video as we do some community videos. But she was like, I want to do all these house tours and this and that, but they're so expensive and I don't have room in the budget.JenSo we had a really fun conversation around video and not just your very produced high quality video. The number one thing I would say, but this doesn't work for them is you need to learn internally how to do some of this video yourself and start doing it. But in this specific case, they are maxed out like their team just got smaller.JenThey all shift roles. They're all they're just doggy paddling, you know, trying to keep up with everything. So then we took it down to the level of finding multiple vendors for different things. So just like you might have a professional pay the big money for the main photo on your homepage, you can do the same thing with video.JenYou can take somebody who is fresh out of college or whatever to do your video. But what it all came back to is even that takes legwork. Like you're going to have to know. You can't just say, I want to do more videos, so we're going to do video if you are maxed out and everything else. So this whole conversation, that video and finding somebody else and that it may take a few people and you're going to have to be really specific at first about what you want it for and what it needs to look like and who's going to edit it and how they're going to know where to go.JenAnd you're going to have to see if that in your priorities of the thing. So it was funny too, because the owner happened to be on this meeting and he was just sitting there quietly. So there's a whole conversation. So it was just interesting because in the end it's still all I love video. I wrote a whole book on content.JenI think everybody needs more and better content, but in the end you only have so many hours, so many man hours and so much budget, and it's whether this is the time for that or if that needs to be on your 2024 plan and how you're going to set all that up. So it was a fun conversation to work through with them.KevinYeah, again, it's different perspectives, different levels, different insights, different priorities. But I think I'll intersperse some things that I took away. But but one of the people who spoke at a conference I went to is the CEO of Shopify, and he talked about how they created a tool that shows the cost of every meeting. So when you invite people, every time you invite more people to your meeting, it shows incremental cost to the organization.KevinWhen you see, you know, $9,000 for a 30 minute meeting, you have to justify in a summary, if you call the meeting, why it's worth that much after it happens. Anyway, a little extreme, you could argue. But then he also started talking about how they every year they just delete all reoccurring meetings. He's going to start just randomly deleting Slack channels.KevinAnd the idea here is if it needs to happen, it'll start again. But if not, you're just keeping things. And so just that idea of revisiting on a regular basis, why am I doing this thing? Could be video, could be Google ads, it could be anything. Why am I doing it? This is the reason that I started. So the reason why I should continue to.KevinI need to take a different spend. Should I be doing this at all? That whole, you know, stop doing list is as important as the to do list.JenWell, and on that level, it's really interesting because she has been there a while, but somebody else has been cut in the marketing director role and that person shifting out. So she's just adopting and she put that person was great at her job. Amazing. But it's somebody walking into something that's already existing. And so I think that's going to be a big job for her, is then figuring out what how.KevinThat's more fun. Let's just talk.JulieAbout that main event.KevinShould she go and start making changes quickly? What what would you both tell someone who's dropped in that position of like taking over for someone who's done a great job but is is no longer in that role?BethI think I mean, having just left somewhere and someone that I, I knew and worked with kind of walk into my position slightly, I think it's really interesting where it's kind of like a marriage of both where, you know, you want to go fast in terms of making your name and learn and get your hands dirty. But you don't want to make too many changes that are going to rock the boat because you might not know enough yet and go in the complete opposite direction.BethSo I think it takes that time, like Julie said, like taking that time to walk through the options and the realities of what is actually available when it came to video and what was realistic. Okay, I see a problem here. I see something that I could change. But at the end of the day, capacity wise, investment wise like this doesn't need to change right now.BethI can do this later. It's not like a necessity for me to go in and just like rip everything to shreds. Essentially. This is me being dramatic.KevinBut yeah, joining me. Other thoughts?JenYeah. No, I agree that there's definitely a time period for keeping it as is and seeing how things work and really not making too many dramatic changes. Right when you walk in unless she's she's been in a role in the department so there are probably think she's familiar with enough the brand new thing she's taking over. Yeah I think it's worth some observation time before making any huge changes which I don't think she is.JulieYeah. Listening to this.KevinThe first thing I always would tell someone is don't change anything for until you are certain you know what the issues are. And what I mean by that, one of the reasons you don't change anything is because it doesn't require any of your cognitive load. If you're maintaining it's a lot easier to maintain than it is to create or destroy.KevinMaybe it's easier to destroy than anything. But that's I know I get off topic, but you're just letting things flow and and observing because one of the things you have to understand quickly is that the scoreboard is not the only scoreboard. So there might be some internal scoreboard or dashboard or whatever that says leads are up, good sales are up, good.KevinBut it all depends on the person you're working for, and it's a combination of that scoreboard and that person's perspective of everything. I've worked for people as a marketing director who have said, you know, like, we don't need more leads. I don't want you doing anything to create more leads. Leads aren't our problem. Go solve this other thing.KevinAnd I'm like, I'm new here. But when they hired me, they told me my job was to create leads. So that's the risk, is you don't have street credibility for that position even if you've been in that organization. Everyone's looking to try to figure out, did they earn this title? Did they just get this title because other person laughs, What's going on?KevinAnd so you still need to do an analysis of both scoreboards and look for the easy win opportunities that cause the least disruption for others. Because that's how you prove value is. I just made everyone's life better and you had to do nothing different. Do that for as long as you can before you have to start getting in the middle of everything else.KevinSometimes you don't get lucky and like the thing that has to be blown up is the fact that I'm I'm laughing. As I say this, it's only been true a couple of times. You're like, We just have to fire all the salespeople and start over. And I can show you mathematically and in the CRM why that's true, that would be a really hard place to start, but that sometimes that is the case.KevinBut if not for as long as possible, get the easy wins that have big impact on other people's roles. All right, Beth, what do you got?BethWell, this week was my birthday week.KevinOh, happy birthday.JulieThanks.BethI'm doing all the sound effects today.JulieThis is great.JenYou should have worn your tiara today.BethI should have worn my tiara on my sash. That would. Except it ripped out my hair, which was not a pleasant experience. It's super pretty, though, so I really should have worn it. That would have been great. But yeah, I'm not typically one to reflect on my previous year. I'm just like, Oh, you know, another year, I'm another year older.BethIt's fine. But this year I was kind of it was somewhat unavoidable because it was on my birthday last year that it became abundantly clear that all the goals that I was working towards and the goals that I had set for myself in my professional career were not going to happen. I was I was not going to achieve them at my current place of work.BethAnd this realization was dramatically catastrophic to me, and it forced me to take off blinders that I didn't even know existed. And it forced me into a period of serious reflection in my life. That period that that lasted from probably anywhere between four and six months, where obviously a lot of changes happened because now I am here. But it's interesting because I was in the mindset at that time before all of this happened that no matter what, I was going to stay on this path, I had my goal, I was going to achieve it, and I had already given so much of myself in order to achieve what I had achieved that the idea ofBethleaving that was so incredibly uncomfortable to me that I had basically avoided any thought of change.JulieYes, fully.BethLike those blinders were were up. But now I was in it like I was forced into a stage where I had to be comfortable in the uncomfortable. And for me there was nothing more uncomfortable than the thought of leaving some place I loved and that I had dedicated my time to. And that had brought me so much joy.BethAnd I share this not just because, like for whatever reason, just to share it. I think it's because No, I know it's because that at one point in all of our lives, we we come to that place or to that crossroad where we have to get comfortable in the uncomfortable, whether it's in our personal life or our professional life.BethWe are at one point in our life going to come across something where we are forced to make a decision that we we never thought that we would make. And it is so incredibly uncomfortable for us. But the reality of it is that it's only through doing that are you able to make a change for the better. And what I learned during that period of my life was that change is okay and that it's important to not go through that alone.BethI had I had to make that decision a very personal and selfish decision. I had to make that and come to that on my own. But I leaned on the people around me that supported me and not just the people that were going to nod my head and nod their head and agree with me or go into a period of self-pity with me or like crawl into that ditch with me.BethBut people that were going to force me to want better for myself and forced me into change and and forced me to ask myself questions that I had I had been previously avoiding because they were so invested in my success and they wanted something better for me. So in saying that, I mean, you don't have to do it alone.BethLean on the people around you, find people that will challenge you and support you, find good mentors.JulieAnd.BethJust make that next change because I think this last year has been incredibly fulfilling for me. Incredibly, incredibly challenging. And I if you would have asked me this on my birthday last year about where I would be in my professional career, I don't think I would I would answer that. I'm a marketing coach. A do.JulieRight.BethAnd it's been fun and exciting. And I'm so happy. I'm so happy that I'm here.KevinWell, we are happy that you are here, but I skating part things that make me feel strange or uncomfortable, like self celebrating ourselves always makes you uncomfortable. Same thing. I mean, I remember the first time, not the first time. It was. It was the third year that Mike Lyon was like, Hey, Kevin, I think there's this thing and I think you could come work with me.KevinAnd I was like, at the time I was 32 years old, I was running to homebuilding divisions for NPR. I had stock options that were worth millions of dollars. And Mike's pitch was, take a 70% pay cut and come work with me and we'll see what happens.JulieAnd I was like.JenI have.KevinFour. I have four kids. My my wife just gave birth to our fourth. What? None of this makes sense. But again, I'm going to keep doing this for a while probably. But this conference that I went to, one of the speakers is the CEO and founder of, I think the second most profitable options trading firm of all time.KevinAnd she showed the slide like if you gave her $100 back in the eighties, you would have $3 million. Now, that's how much money her company has made for herself and her employees. And so now she started this nonprofit specifically trying to teach women how to play poker, because her argument is that women need to learn the skill sets of poker.KevinAnd to her, one of the most important skill sets is knowing that it's okay to take risk. That risk is mandatory. You you have your hand of cards. You've got to make a calculation and decision of what should I do or not do. But also sometimes you if you just fold every hand, you're never going to win. And her take as a woman was just that women are never taught to take risk.KevinAnd even in my own life, like I'm I'm definitely the Yeah, I'll just stay out of poker like just play super conservative, get that pot as big as you can and just like, hope you win by causing everyone else to die of boredom and just, like, irrationally go all in because they're just sick of sitting there like, that's that strategy.KevinBut so when I hear you talking about that story, I just to what I what I translate it to is part of it is chasing the goal that you had. And the other part is just saying like, that's too risky. But now on the other side, do you feel like it was as risky as it felt?BethNo, not at all. And I think, like I battle with the word risk slightly because I don't know if I necessarily felt like it was risky. I think perhaps a little bit it was like, okay, I just built all this. Like, am I willing to risk, like, completely altering everything I just worked for for seven years? Right? So I guess the other is there is a little bit of risk in there involved, but ultimately it came down to compromise.BethIt came down to how much of myself am I willing to compromise and what am I even living out? One of my mentors is bold. Eutelsat is also a very good friend of mine and he was the one that was like sat me down and he was like, What is your superpower and are you living it out right now?BethAnd we had like a two hour conversation actually at some after hours about what that meant. And like he just started ripping out those blinders that I had. And I think it was just that I had compromised a little bit of what my superpower was in order to fit the box of what other people needed.JulieAnd yeah.BethAnd it was it felt really good.KevinOn the psychiatrist psychiatrist couch together. So this is.JulieGreat.KevinI know you don't like the word risk, but what I think is probably happening is the fear of not getting to where you wanted to was causing you to put the blinders on in the first place.BethOh, yeah.KevinIf if if I don't put the blinders on, I'm not going to attain the level or position that I want to get to. And that's all I'm trying to say is, at the end of the day, the biggest risk that the speaker and I go back and talk to other people are look at my own life. It's like the biggest risk would have been not doing anything.KevinYeah, that's I always say that's the don't you're trying to sell someone the donut hole the cut out like not an actual small little piece of a donut but your sound the thing that doesn't exist and saying that's the problem so that's, that's the hard part about it. But taking risk is okay. And I, like any of my friends, personal friends who've been like, Hey, I'm thinking about starting my own business or doing my own thing.KevinMy answer is always do it always, because the risk is not like you're not going to die if your business dies, but you will know whether you actually want to run a business or not. You're capable or not going to do it. If death is not on the other side, it's worth trying. Now that also, like as an efficiency focused organization, which I would consider, do you convert like one of the ways I explain to people is we are an efficiency focused digital marketing organization trying to help builders get the best quality traffic for the least amount of money.KevinSo one of the things in there is like a lot of what we do is working and we might not be taking the risk for someone's money individually. So like builder A of 80 or a builder number one of 80, we might, based upon their resources and availability, might not be doing a lot of testing with them. But across all 80 builders, there's always different tests being done and that's a it's analysis of risk.KevinAnd I feel like I should just write a whole blog on maybe a series on risk because it's not talked about enough. And as a manager, we know we have to manage people. We know you have to manage a budget. Managing risk is not talked about enough or understood clearly enough and it's really, really important. It blindsides people more than missing a budget.BethYeah, I would agree. It really takes us even for this.JulieFascinating Hey online sales specialist, your D convert coach Jen Barkan here. Are you looking for guidance, structure and proven methods to help you set more appointments and create more sales than join online sales coach Jesse Suggs and myself, we are offering an intense two day virtual training experience, followed by eight weeks of training and coaching through our online sales academy.JulieThis fall. Jesse and I have been in your shoes and we teach from our direct experience and years of coaching online sales specialists just like you. This will be hands on and real world. No theory here if you're interested, don't miss this incredible opportunity to reserve your spot today by visiting d convert dot.com.KevinOC first story time. Just go the way Olivia reminded me that I want to talk about like things that we just keep repeating in our industry. And it's not really the thing. It's the it's the well, it is partly the thing. So one example would be and these are all things, by the way, I have said too, so it's not casting stones with glass houses, but I remember the very first presentation I gave at the Builders show and it PCBs.KevinI talked about a backpack on Amazon having more content than a home builders quick movement, home. That was 14, 15 years ago.KevinSo let's just get more creative. And this again, this is for for me as as well as everyone else. Let's get more creative with our examples. If we've heard an example 30 times in the last ten years as a as a presenter or someone making content, I think we should all push ourselves to keep looking for more and different examples.KevinAnd I'll give you one of mine that I've pushed, you know, so I've talked about pre-sell without fail and wrote the book and given all kinds of presentations and done it. And yet the audience and this is we keep repeating the same thing because we're like the audience hasn't heard enough and we know repetition is important. So we say it again and again, again.KevinBut I think my challenge is let's get more creative to try to find out if it's not just us. The presenter that's repeating the same thing. People have heard, but not actually finding a way to help them solve the problem. And that's why I use stories analogies is because my hope is that the person I'm telling that to can retell the story and get a similar outcome or help people's opinions or mindset change.KevinSo a lot of times builders on their on their home site maps or community descriptions are talking about, you know, faces one through 17 and all of them are on the map and they're on phase one, but they're showing everything. And so for me, the example is, you know, Apple just came out with the iPhone 15 and the 15 pro and someone tweeted immediately after, like, I'm on my way to Apple.com to order my iPhone 14.KevinCan't wait for it. It's like, no one does that. As soon as the phones announce, the only people buying the 14 are price conscious folks who probably can't afford or wouldn't buy a 15 anyway. But it would be as insane for Apple to put on their website iPhone. I mean, I can do it now. I can. I can project into the future the iPhone 17 coming September of 2025.KevinYou would never, ever, ever see that on Apple's website because you can't buy it yet. And certainly in the process of launch in neighborhood there's there's a period where you're going to put that community out there and you can't buy it because you're building that list. But Apple knows how long they need to build their list, and it's about 2 to 3 weeks from the time we say it's here to the time that you can go online and order it.KevinThey figure it out through probably millions of dollars and out. And, you know, tons of research that that's the only window they need to have. So you got to figure out what your window is. But you don't need to communicate years or decades in advance. You're going to have Homesite 2312 available at some point. So just let's get creative because if if the industry isn't solving that problem, we can go back to content around the backpack if we have to.KevinBut the more interesting question that I think our whole industry needs to start thinking about is what are the barriers? Because the barrier is not anyone I talked to. I don't know if you two are talking to people, but I haven't heard anyone say no, we've got enough content on all of our stuff, like I'm good with it or pictures are all awesome, our descriptions are great.KevinNo one's happy with the content they have. So what's the real problem? And we keep pointing the finger. This is going to get me excited. We keep pointing the finger at marketers and. If you're interacting with marketers on a regular basis, you know, the problem is not that the marketer doesn't want the content. Maybe, and this is why I'm so big on high mark as a potential solution for this in our industry.KevinYou know, this is it. Them and Mark and Beth are doing a presentation at the summit Higher understands that the reason we have crappy content is because people who aren't marketers are constantly changing the product with your regard and no care as to whether we have content just made content. There's just like this little hidden space in every home building company where for people who have no connection to consumers or marketers are coming up with all these new things and changing stuff all the time and like, yeah, just figure it out.KevinJust figure it out. Like that's the freaking problem. And using it addressed not how to hire a photographer. Did you know that you can get renderings that like for it's such baloney. That's not the problem. The problem is that there's these other morons changing things too often that no one's asking to be changed. Like if they're How often?KevinHow often do people redesign cars?JulieRight.KevinIt's usually on like a three year, 3 to 5 year thing, and there's little micro changes in between. They don't and they don't have 45 different cars available at Toyota to go buy for each. Kevin And then we're going to show Toyota's car car selection tool and they're like, this is amazing. Look what it can.JulieDo because there's only seven different.KevinCar types.JulieYeah.BethThere's like five is from.KevinThat's why when NPR bought Heartland and they we had 45 different floor plans and they said no, you can have 12. And after the initial freak out of that's not possible. We'll never sell another house again. Everyone's going to want something we don't have. I got so freaking excited as a marketer because thinking of of, okay, I'm going to defend my budget.KevinI'm going to keep that same amount of money. But now I can develop content around 12 floor plans instead of 45.JulieYeah.KevinIt was like Angels started singing. It was, This is going to be the most incredible thing ever.JulieMm hmm. Yeah. So look for.KevinLook for what's causing things not to change. Not just telling the people that it needs to change. Please.JenI literally just had this conversation with a builder yesterday, and you were not on the call because I asked them what is because they're overloaded? What is eating up your time right now? And that's what that's what it was. That's what I want is this.KevinFor people in a room somewhere making changes without talking to anyone?JenYes. And all they're doing is updating floorplans and rendering and all this. So it's just funny that you say that because I literally just had this conversation with someone yesterday.JulieYeah, well, and.KevinI mean, at Idol, they have collaborative teams that work on such things at Style Craft, where you were both they have collaborative teams. Yeah. Cross department teams that work on this things. Yeah. But so many builders I interact with, I'm like, who does this stuff?BethBut it was still a problem like.KevinSteve in accounting.JulieCommercial. Oh, okay.KevinSteph, thanks.BethThanks, Steve. No, I mean, it would still problem though. I mean, we had a huge group of us coming across, like you said, from all different departments coming together to make these decisions with the changes that were still happening so often that I had to just eventually put my foot down and saying, I'm not changing it until this is an issue or I have this many changes or whatever, or if we're making this many changes, I need this to be the process that we follow because there's just no way that as a singular person or in our case, two people, that we're going to be able to maintain content across 40 communities with 40 differentBethfloor plans, with 40 different variations of things happening, like that's just that is outside of the realm of reality.KevinAnd there are answers coming. And here now to do it better and differently, one from other industries, two from products like High arc. And this is I mean, again, if you're listening and you're coming to the summit, you're going to hear it. It's not like you're going to not hear this talk.JulieBut yeah.KevinThere are ways to get what we want and need.BethAnd there's ways to go about the changes better, which again, I don't want to say too much about because we'll talk about at the summit and I have a blog post that I finally wrote a blog post and Julie edited it, shout out Julie. That is about different ways that we can go about making changes that are planning, planning things out.BethBecause I don't think that as an industry we're doing it the most efficient way.KevinNo, no, not at all. All right. First up from the news, will the mortgage rate spread narrow or not? That is the question from first imdb.com And this. Remember, I went on a tirade about like if you're a marketer trying to ignore what interest rates are and how they are determined, all that stuff, it's time to go to school.KevinBy the way, that was my actual story. I got distracted. I didn't share my story time, but one of the notes that I wrote down was Bill Gurley, a prominent investor venture capitalist, said that the idea of professional research no longer exists for most people, meaning when your teacher in school assigns you to do a research project on, you know, the Pyramids of Giza, you either lie and makes things up or today use GPT, or you go and read books, watch documentaries like you can see in this information.KevinAnd yet the concept of professional research done outside of work hours is like, Are they paying me for news? I mean, I don't know, maybe you just want to find the answer or learn me because it's going to make you better, which will eventually pay you more because you are better. But it kind of goes along with this is a continuation of that rant from previous episode.KevinAnyway, so this is an example of me. So I, I see this article posted in my first reaction as I've spent 200 hours learning about mortgage rates and how that determined all the rest. I don't need to read anymore on this topic, but what the heck, I'm stuck for 2 hours on a plane that's not taking off. So I'm going to read the article.KevinAnd essentially what what the author argues is that one of the things that we're not thinking about that will keep rates higher for longer is the fact that rates being higher, where most people think they're like everyone's dating the rate, right? Everyone's waiting to refi. And one of the things that causes rates to be held higher is the belief that people are going to pay off their loans early.KevinSo if I'm buying a mortgage backed security that's supposed to be full of loans that are 7% for 30 years, what's the likelihood that those loans go for the entire 30 year period and aren't paid off early if rates go back down to five? Right. All those are gone. And so that risk of loans being that's a negative thing for an investor to have loans paid off early.KevinAnd because of that negativity, there's extra costs being that then raise the rate because of that thing. Like I had no idea that that was part of the calculation, but it makes sense now. The inverse is also true on a coaching call this morning and the builder said, Yeah, you know what? We've noticed that buy downs are becoming less expensive for builders or this builder in particular.KevinWhy would that be? Because the inverse is also true. That's why I love learning stuff. It gets me so frickin excited. The inverse is true. Why would a buy down be less expensive? Because what's the likelihood that, yes, I am going to charge the builder money to buy down the rate? What if now that customer is going to get a 4.75% loan?KevinWhat's the likelihood that they will carry that loan through to maturity? It's higher because if rates go down to six or five, they're not redoing that loan. So they were saying, you know, it still has three and a half, 4%, but it's used to be seven to buy that down. So it just never pays to continue doing professional research because it's just always insightful to me when I learn something new.KevinIt makes me excited.JenAnd this article is worth reading because I do not get quite as excited as Kevin on all of this. But this one, when I read it, it was it did lay things out in a way that it was like little light bulbs went off and helped explain it. So if you're also struggling to make sense of all of this, this is a good one to go and.JulieClick on and.KevinRead again because people will see something or say, Kevin's, you know, just a mad old man. No, I'm not saying you have to understand it. I'm saying stop trying to not understand it. That's all I'm saying. Like, keep trying to understand it. Don't just say huh.BethFind new ways to explain what's happening in the industry other than the backpack.KevinYeah. All right. From Redfin.com, one in ten home sellers who found this one, by the way, they deserve a price because this one love this one. One in ten home sellers are moving because they're being called back to the office. We haven't found this article.BethI'm looking, but.JulieI don't see I'm.KevinGoing to default to.JulieFriend. Thank you.KevinOkay. Good job, Olivia.KevinReturn to office. Mandates are forcing some people to choose between selling their home at a loss or losing their job and turn it into a rental. Potentially. Roughly 20% of surveyed sellers say they're moving due to safety, crime concerns, a desire to live somewhere more aligned with their social views and or lower taxes. But 10% said they're moving because they have to go back to the office.BethI mean, it goes back to I think it's an interesting, like granular data point of like because they specifically because they have to go back to the office, because we think about like relocation and things like that. And it says, oh, my work is moving me. But in this case, like, no, your work is forcing you to actually come in and now you need to live closer.BethIt kind of Did you see the Post from the New York Post article about the project by EIA in Montgomery County, Maryland? It almost makes me think about that a little bit because like they are doing a project that allows for lower income people to instead of doing that, the 10% or whatever, they increase it to 40% of lower income in this building.BethAnd they are trying to increase the amount of available housing in a safe area that allows for us a closer commute. And the example in the article of someone who lives in that building is an individual who's like, I think she was like a nurse or a educator or something like that. I'm sorry, I can't remember what my head but she because this became available to her, her commute cut down from a 45 minute commute to a ten minute commute.BethNow, for a little bit of perspective, even 45 minutes in the Montgomery County area. So anywhere around the greater D.C., Baltimore metropolitan area, 45 minutes is a win. So for her to be able to have 10 minutes of a win is is gigantic. And so these people that are are now trying to get to work and having to go to work every day and they're just trying to get closer.BethThey need to get closer. And it goes back to their need to move because their life is requiring them to.KevinYeah, remember, that's the fifth of the five days displacement that causes people to need to find a new home. And we're seeing this you know, we work with builders, I think, in 40 different states. And remember, if it's 10% in the survey that means in some markets it's lower. And in some markets it's higher. And one of the places they reference here is Boise, where two people work for the same employer.KevinIt sounds like to me it's Facebook or Meetup, but they're being told that they both have to come to the office three days a week or lose their jobs. They're probably gonna have to take $100,000 loss in their home in Boise And the home that they are going to end up buying in Seattle is going to be much smaller.KevinSo you just think about those markets. San Antonio is a relocation for remote work, heavy market. Boise was a big market for that. Northern Colorado. Some of these start to make sense. Now the question is, is this going to be it's going to be positive, you would think, for Seattle. And just because there's there's not still a lot available in Seattle from the from the used home market so for for prices in the market so people are being forced to move back to I think it's going to continue to push them higher.KevinYou know super interesting article. Thanks, Olivia, for finding that one. And you did this one I think from CNBC econ. Higher mortgage rates continue to impact the housing markets. Danielle hill, realtor.com chief economist this was you right, that found this one?BethNo, this is shout out, Becca.KevinOh, okay. Okay. Good job.JulieHere.KevinBut this is a video, so I don't know how to go into more of it.BethWe'll have to just embed the video into the show notes now.KevinWell, time out. We'll just pick a different article. So it's like we can't put articles that are videos and. Sorry, that was. I should have thought that one. But we got to we got to be able to talk about it. All right. Next up from Pro Builder AECOM, where is the housing market headed this fall with buyers and sellers glued to the sidelines of a high priced undersupplied housing market, experts weigh in on what's to come.KevinWhat's to come?BethMore of the same.JenThat's one thing. Those were kind of wild. You said, I don't think it's going to get any better, but I don't think it's going to get any worse because it can't get any worse. Number one, don't jinx us. Number two, we've seen it get worse. You know, we've seen it worse than this. So I was shocked by that vote.JenI thought that was a little.KevinYeah. And promote our links to Realtor.com or the full article is we'll put that link in the show notes. But remember, they're talking about the housing market, meaning residential in its entirety. So when they say I can't get much worse, they're talking about existing home, the number of existing home transactions that are occurring. Remember, prices are not bad.KevinIt's the number of homes that are are transacting that he's talking about being so bad.BethAnd guess who's still the bright spot?KevinYeah, I mean, what's the saying? I don't know if we can, but, like, tell this person in a room full of short people.JulieBecause.KevinLike, Yeah, I mean that's the thing that kind of it does affect my mental health a little bit. When people say, again, I'm talking to people not from our industry directly all the time who are like, Oh builders, man, this is just got to be like the best thing ever for them. They're loving now. There are we do have to, to working with who are having their best months ever.KevinYes but there are also a lot of builders who are, you know, eking by hitting their sales goals. Profitability is okay. But again, they're like, this is this is just infinitely harder than it used to be. And then going into the fourth quarter, it's like, oh, man, I really I'm not excited for what we're going to have to ride through here.KevinSo, yes, it is a bright spot in terms of, I would say availability of housing. Yes. So if you if you wiped builders off the map, there were no builders. The whole housing market would be you know, I think the kids say left.JulieLike.KevinSo homebuilders serve a really important purpose and we are there. But the costs of doing business for builders are not improving as fast as we wish they would, which means affordability is still a challenge.BethYeah, and while it's true that it remains market dependent, I think the builder to builder, it's also really interesting to watch. I don't know if you all have seen this, but we had a brief conversation of the doers versus the thinkers. And then there's the people that can think and do simultaneously, which is a magical little unicorn that everyone should have within their organization.BethBut it's a matter of like there's people that are in markets that are still doing well, but they just haven't gotten it right from the builder side because they're not sure how to take advantage of a market where they all where they are the tallest person in the room. They're not using the right messaging. They're not using the right messaging at the right phase of the funnel.BethThey're not getting creative in what they're doing. They're just riding the coattails. And then something blips and they're like.JulieOh.BethWhat do I do with my hands? And it's interesting.KevinYeah, And I love how it ends, actually. This is who is still buying homes today. The answer is you have to purchase a home. And I think Rob Hahn, who's another one of our speakers at this year's event, I think he coined the term the four D's, which were diamonds, death, diapers and divorce. I think we added the fifth D, which is displacement, which kind of talked about what the article terms of having to move back to a different physical location or move physical location.KevinThat's the only reason people are buying. It's not because that there's a red tag clearance sale going on. They're already in the market and that will potentially steal market share if you do that, right. But there's a lot more people being created by that activity. All right. Our favorites. Things we love and things we hate. Let's just rename it that next time.KevinOlivia. Things we love and things we hate. Anything is up for grabs. What do we got today?BethI hate unpacking.KevinAll unpacking. Okay, tell us more about that. Why do you have so much stuff that's you.JulieThat's a.BethGreat question. And we keep purging. Julie and I were just talking about how like one of the beauties of moving is the ability to like it's a forced spring cleaning. And so you, you get to purge like I am still throwing things away left and right. And we did that prior to moving. But you know, it is just can I just can like all the boxes magically just, you know, like Mary Poppins into their place because that would make my life really look a lot easier right now.KevinYeah. It's I love talking about it because we went we're now done with it. Yeah. The whole mental connection that you have to your house and the things that you have to start thinking about again that you stop thinking about at your old house. There's all this emotional energy that's spent, intellectual energy that's spent for moving. What's the physical?JulieYeah, yeah.KevinBlood sucking leech like reality of unpacks in cardboard boxes. Yeah, It's not a good combination. Okay, that's good. You can hate that. Julie, What about you?JenWell, this might be embarrassing. I don't know, but I've been listening to a new podcast, and it's John Delaney, and it's like the old school, like somebody calling in and asking for advice, like, Oh, my God. Like, yep. Or he's it's. That's what we should do, counselor. Guys, I'm like, I'm fast. It like I'm obsessed with it right now.KevinThat's what we should.JenI don't know if it's cringing or where people really. Why don't you listen? But I know I love in it I'm into it right now.BethMillennial need watched or listened to Love Line like let's be racy.JenIt's not racy like that. It is, but it's like just any kind of it gets like a little mini counseling session. And so that has what I've been listening to lately.KevinThere is a gentleman I can't remember his name, but it was on Redwood Studios, AM talk radio, and every day he would take like 3 hours of calls and he would play solitaire. So you'd hear him shuffle the card. Sometimes, like I've always answering people's questions, but every like nine out of ten answers or get a lawyer, he would call them questions and he would ask them on a question.KevinQuestions like, You know what need you need to do is get a lawyer. And this guy made a career off of telling people to go get legal advice. Now, is is.JenThis once more, go get a counselor like you need trauma counseling.KevinSo this is like real life crime podcasts. This is I haven't killed anyone yet, but I'm thinking about it.BethYeah, Yeah Yeah. Is it like a little touch of a Reddit thread? Am I the ahole?JenBecause, like, sometimes that's all I hold.JulieMm hmm. Yeah.KevinMine is a podcast recommendation that I got from another podcast that I listen to called a compound in France. It's a stock market, one most of you shouldn't probably listen to it, but acquired is the name of it and they are, let's see, 3 hours, 4 hours, two hour. They're really long podcasts on a single company kind of giving there.KevinWhat they do is they go and they read 8 to 10 books on a topic that interview people and then it looks like twice a month they do these three hour summaries in audio format. And it's I mean, it's it's all LVMH, the NFL, Nintendo.BethQualcomm, Marvel one or the.KevinAmazon, of course, Altimeter, Sony, Peloton, FDX, Standard Oil like that's a really old company. Sometimes they do multiple parts, but it's one of those podcasts where you don't. I don't feel compelled to listen to all of them. But if there is a company that I really think does something well or I use like my own life and I'm curious about the background, it's just a really great it's like in between an audio book and a podcast, typical podcast in length and complexity.JulieOh, that's fun.BethI'm already Google, right?KevinYeah, that'll do it. Wait. Oh, you have another one, Beth, you want to complain about? Can you have something positive?BethYeah. Seriously, I just love the. I hate this way. No, the positive of our houses. I'm so like, by the time you guys see me next, next week, Monday, I should be in my office, in my new house, and I'm obsessed with the color that we painted it. And it was a little bit of a risk going back to that word, Kevin But it's a ripe olive by Sherwin-Williams.BethIt's a deep, moody green, and my crown molding is painted it. My doors are painted it, my walls are painted it, my panel, it is the whole office is this deep, moody, green, and it has a vibe. And I'm.JulieObsessed.KevinSo you like cozy, like cave? Kind of like it's not going to be dark. No cream.BethBut yeah, it has. And it has has. The ceiling is white and the floors are white. Okay, So like, there's a balance, but I don't know, I just it gives that feeling of like an all leather bag.JulieYeah.KevinIt looks like you should be signing the docket. Like the Declaration of Independence. Yeah.BethBasically, I need a portrait of George Washington.JulieOn the wall.KevinNicole, I learned something from my son, Hayden. He's in fifth grade, so he has to do a report on a president.JulieMm hmm.KevinAnd you could be lying to me, so don't. Don't at me. He's. And he got second choice, I think, to pick any president you want to do. And he picked Grover Cleveland.JulieOkay, Now.KevinEither one of you know any interesting information about Grover Cleveland?JulieNo. Nope.KevinNo. Apparently, allegedly he is the only president to serve two terms that were nonconsecutive.JulieMm.KevinHe was both the 22nd and the 24th president of the United States and had an incredible mustache.BethHe did that. That is true.KevinOh, all right. That's actually it. We're done now. The show is over. Have a good week. We'll see you next time.JulieBye bye. The post Ep 303: Things We Never Need To Say In The Industry Ever Again appeared first on Online Sales and Marketing for Home Builders - DYC.
Dimitri Dadiomov is the Co-founder and CEO of Modern Treasury, an operating system for the new era of payments. Dimitri and his co-founders Matt and Sam started the company in 2018 after running into the same problem working together at their previous startup. Modern Treasury has since raised over $183 million, supported by investors like YCombinator, Benchmark, Altimeter, Salesforce Ventures, Quiet Capital, WndrCo, TQ Ventures, and Edward Lando. Brought to you by Secureframe, the automated compliance platform built by compliance experts: https://bit.ly/3OwGdGC Sign-up for Ramp and get $500: https://bit.ly/3KSqfFV Read the transcript: https://www.thespl.it/p/how-to-move-quadrillions-of-dollars In this episode, we discuss: How the global banking system moves over $1 quadrillion per year Why B2B products should be easy to use with broad use cases What makes a good API business Why the YC application is a great forcing function for founders How it took them six months to get their first customer, but never pivoted Why the first customers of a B2B business should get more credit How PLG helped build a better product Finding holes in the market for an initial go-to-market strategy The depth of Modern Treasury's product Why they should have built a sales team sooner How deep customer relationships across many industries helped them raise a Series A Why it's important to go slow to go fast How Dimitri set an intentional culture around studying other businesses When distribution can be more important than product What happened inside Modern Treasury during the collapse of SVB and Signature Bank Why Dimitri sends Saturday update emails to entire company The founders Dimitri really admires Where to find Dimitri: Twitter: https://twitter.com/dadiomov LinkedIn: https://www.linkedin.com/in/dadiomov/ Where to find Turner: Newsletter: https://www.thespl.it Twitter: https://twitter.com/TurnerNovak Read the transcript: https://www.thespl.it/p/how-to-move-quadrillions-of-dollars Production and distribution by: https://www.supermix.io For sponsorship inquiries: https://docs.google.com/forms/d/e/1FAIpQLSebvhBlDDfHJyQdQWs8RwpFxWg-UbG0H-VFey05QSHvLxkZPQ/viewform
In this episode of Beltway Broadcast, your Metro DC Chapter of ATD hosts Charlene Li. Charlene is an expert on digital transformation strategy and disruptive leadership, and the author of six books, including her latest, The Disruption Mindset. She is the Founder and Senior Fellow at Altimeter and a graduate of Harvard College and Harvard Business School. In this episode, Charlene explains why every L&D professional must have a strategy for disruptive growth, discusses how disruptors create things that result in positive change, and shares tips on how to build your own disruption mindset. If you'd like to learn more about Charlene, visit her website. For more info about the Metro DC Chapter of ATD, visit DCATD.org. Episode Credits: Series Announcer: Julie Waters Hosts: Christina Eanes, Stephanie Hubka, and Halyna Hodges
In this 143rd episode of The G2 on 5G, Anshel and Will Cover:1. Sateliot announces support for 5G IoT used cases as the LEO space race continues to heat up 2. T-Mobile demonstrates 2x Uplink CA on a commercial SA 5G network and Vodafone 5G network slicing for Coronation TV coverage3. Ericsson and the Canadian government announce a partnership to drive innovative 5G use cases - could it be a model for other regions?4. The 5G altimeter saga refuses to die with FAA setting a hard July 1st deadline and airlines threatening a tumultuous summer travel season.5. FCC to launch Space Bureau and how it might affect future mobile networks 6. Apple, MediaTek, and Qualcomm earnings indicate downward trend in mobile
Venture Unlocked: The playbook for venture capital managers.
Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.This week on the show we're joined by Meghan Reynolds, partner and head of capital formation at Altimeter. Founded by Brad Gerstner in 2008, Altimeter has backed companies such as Snowflake, Unity, Gusto, and Modern Treasury. Prior to joining Altimer, Meghan worked in a variety of investor relations roles including TPG, Goldman Sachs, and JAZZ Ventures partners.She's also quite prolific on Twitter with her insights on the LP world. This conversation was great as she went through the system she uses to form and maintain relationships with world-class LPs.A word from our sponsor:Venture capital firms and their investors have realized that a fund administrator without best-in-class technology is no longer acceptable. But experienced firms also know that when it's crunch time and that capital call needs to go out now, no technology can replace the need for an expert, highly responsive fund accountant working with you. It's time you talk with Juniper Square: the first technology-driven fund admin built for sophisticated venture capital firms. Learn more and request a call todayAbout Meghan Reynolds:Meghan is the Head of VC Capital Formation and Fundraising for Altimeter, a lifecycle technology investment firm. Prior to joining Altimeter, Meghan was Managing Partner and Co-head of Fundraising at TPG. She began her career and spent nearly a decade in the Investment Management Division of Goldman Sachs. ShMeghan is also currently a Venture Partner with JAZZ Venture Partners, an early stage Venture firm focused on the intersection of technology and human performance.Meghan graduated from the University of Notre Dame.In this episode we discuss:(02:42) Meghan's career path that led her to Altimeter(05:40) How Meghan defines capital formation(10:33) Making decisions that allow the investment team to thrive while balancing LP interests(14:03) Building the right frameworks with LPs who may ultimately become long-term partners(17:03) Ways managers can differentiate outside of returns(19:44) Other factors that go into LP relationship management(23:16) The importance of transparency with your LPs(26:01) How LPs are reacting to current market trends(29:17) Using an LP Advisory Committee strategically(35:00) International sources of institutional capital(40:14) Fundraising advice for solo GPs(43:32) What to look for when hiring for a capital formation role(47:16) Predicting the market over the next 5 to 10 yearsI'd love to know what you took away from this conversation with Meghan. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you'd like to be considered as a guest or have someone you'd like to hear from (GP or LP), drop me a direct message on Twitter.Podcast Production support provided by Agent Bee This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
On our AWS episode, we talked briefly about the next chapter of cloud: data warehouses. But what makes them so powerful? Why do enterprises rely on them? And how will cloud customers collaborate on data stored in multiple clouds? We sit down with Kamakshi Sivaramakrishnan, the co-founder and CEO of Samooha, a new company backed by Altimeter and Snowflake Ventures to tackle the problem of secure data sharing and collaboration in the cloud. Kamakshi has an impressive background to speak to this problem, having been a part of AdMob (sold to Google), and the founder/CEO of Drawbridge, which sold to LinkedIn. She then went on to work in Microsoft's Office of the CTO, where she obviously had a lot of experience understanding the needs of cloud customers. If you want a better understanding of how enterprises use the cloud, multi-cloud architecture, and how security and privacy works with customer data at scale, this episode is for you! Links: Kamakshi on Twitter Samooha Samooha Product Demo Video
We sit down with Altimeter Capital's head of Capital Formation Meghan Reynolds (who previously was TPG's global co-head of Capital Formation for 10 years) to talk about everything that goes into the LP - GP relationship at venture funds. We cover how (and why) to think strategically about Capital Formation, why it should be about so much more the just investor relations / fundraising, and also why and how it's going to change dramatically over the next decade. This was a GREAT conversation, and very relevant for GPs, LPs, and also company founders and employees heading into 2023 and post zero-interest-rate capital markets. Links: Follow Meghan on Twitter! Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
Welcome to the Part Time Pilot Audio Ground School Podcast! This podcast is going to be all about providing student pilots with ANOTHER way that they can consume the Private Pilot curriculum. The #1 reason student pilots never end up becoming a private pilot is NOT due to money. The real reason is actually deeper than that. Yes, flight training is expensive. But every student pilot knows this and budgets for it when they decide to do it. The actual #1 reason a student pilot fails is because they do not have a good, fundamental understanding of the private pilot knowledge they are meant to learn in ground school. You see when a student does not have a good grasp of this knowledge they get to a point in their flight training where their mind just can't keep up. They start making mistakes and having to redo lessons. And THAT is when it starts getting too expensive. This audio ground school is meant for the modern day student pilot... aka the part time student pilot. Let's face it, the majority of us have full time responsibilities on top of flight training. Whether it is a job, kids, family, school, etc. we all keep ourselves busy with the things that are important to us. And with today's economy we have to maintain that job just to pay for the training. The modern day student pilot is busy, on the go and always trying to find time throughout his or her day to stay up on their studies. The audio ground school allows them to consume high quality content while walking, running, working out, sitting in traffic, traveling, or even just a break from the boring FAR/AIM or ground school lecture. Did I meant high quality content? The audio ground school is taken straight out of the 5-star rated Part Time Pilot Online Ground School that has had over 350 students take and pass their Private Pilot exams without a SINGLE STUDENT FAILING. We do this by keeping ground school engaging, fun, light and consumable. We have written lessons, videos, audio lessons, live video lessons, community chats, quizzes, practice tests, flash cards, study guides, eBooks and much more. Part Time Pilot was created to be a breath of fresh air for student pilots. To be that flight training provider that looks out for them and their needs. So that is just what we are doing with this podcast. Episode 21: In this episode we talk about the connection of weather, in particular pressure, temperature and density of air, and how it relates to the reading on our altimeter and the different types of altitudes we will use as a pilot. Links mentioned in the episode: Ultimate Private Pilot Test Prep Book: https://amzn.to/3CQsapD Online Ground School: https://parttimepilot.com/private-pilot-online-ground-school/?utm_source=podcast Video Lesson for Episode: https://youtu.be/_UPgWdQVnZM Aviation Headsets Discount: Part Time Pilot Students & Listeners can now receive 10% off & Free Shipping on Kore Aviation Headsets using the coupon code 'parttimepilot': https://www.koreheadset.com/discount/parttimepilot
The rally taking a bit of a pause today after the big post-Powell pop. Altimeter's Brad Gerstner gives his take and explains how he is positioning his portfolio. Plus, Larry Cordisco breaks down the fate of the tech trade. And, market expert Mike Santoli digs in on what he's watching as we head into the final trading day of the week.
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Tristan Handy is the Founder and CEO @ dbt, a data transformation tool that enables data analysts and engineers to transform, test and document data in the cloud data warehouse. To date, Tristan has raised over $400M from the likes of Sequoia, Altimeter, Coatue, ICONIQ and GV with the latest funding round valuing the company at $4.2BN. Prior to founding dbt, Tristan was the VP Marketing @ RJ Metrics and got his break in the world of startups through former 20VC guest, Anthony Casalena with a Director of Operations role at Squarespace. In Today's Episode with Tristan Handy: 1.) Entry into Startups: How did Tristan make his way into the world of startups with his first role at Squarespace? How did Tristan's time with Squarespace impact how he builds dbt today? What does Tristan know now that he wishes he had known when he founded dbt? 2.) Our Jobs Are Not That Hard: Why does Tristan believe that our jobs are not that hard? If going down this line, how does Tristan hire? What does he look for? How does he test for it? When does experience matter? When does it not matter? 3.) dbt: The Company Why does Tristan believe that remote work does not work? What financial packages have dbt put in place to allow their employees this physical interaction? What does Tristan believe is the hardest element of building a hybrid company? When does everything start to break? What are the biggest lessons Tristan and dbt have taken from Gitlab? 4.) Tristan: The Leader How does Tristan conduct and execute on the best performance reviews? How does Tristan create an environment of safety where people feel they can be honest and transparent? What are the elements that you cannot be transparent on? Where does transparency break down? 5.) Trading Freedom for Scale: dbt could have been a small and super profitable company, why did Tristan decide to trade off the freedom and raise big from VCs? How did Tristan raise over $414M without ever talking about an efficiency metric? Is Tristan concerned about living into the $4.2BN valuation in what is a very different time? With the benefit of hindsight, is Tristan pleased he went big and raised venture?
The Twenty Minute VC: Venture Capital | Startup Funding | The Pitch
Brad Gerstner is the Founder and CEO of Altimeter, a life-cycle technology investment firm that manages public and private portfolios. Brad has personally participated in more than 100 IPOs as a sponsor, anchor, and investor. Brad's notable deals include Snowflake, Mongo, Bytedance, Gusto, Unity, Okta, dbt, Modern Treasury, EPIC Games, Hotel Tonight, and Zillow. Prior to founding Altimeter, Brad was a 3-time co-founder where he sold all three businesses (to IAC, Google, and Marchex), a founding principal at General Catalyst; a securities lawyer, a former Deputy Secretary of State of Indiana, and a pilot. In Today's Episode with Brad Gerstner We Discuss: 1.) From Humble Beginnings in Indiana to 100 IPOs: When did Brad realize his original love of finance and entrepreneurship? What one single question does Brad ask all potential new recruits to determine if they have hustle? What does Brad know now that he wishes he had known at the beginning of his career? 2.) The Power Law and Supercycles: What is a power law? Why is it the single most important thing in investing? How do the best investors in the world build a framework around supercycles? How does Brad approach market sizing? How does Brad think about market creation when aligning that to his thesis of investing in power laws? How does Brad determine if a large opportunity is a "super-cyle" or a short, time-stamped fad that is unsustainable? How does Brad assess the importance of market timing? 3.) Building Anti-Fragile Portfolios: Portfolio Construction: Why does Brad disagree that the answer to risk mitigation is portfolio diversification? How many companies is enough companies for a diverse portfolio? Price Sensitivity: How does Brad reflect on his own relationship to price? How does this process and mindset change on re-investments? What is needed for Brad to re-invest? Time to Exit: How does Brad analyze when is the right time to exit a position? What are the single biggest mistakes people make when it comes to timing their exit? 4.) The Venture Landscape: Today, What is Happening? Why does Brad believe what has happened over the last 24 months is a great disservice to founders? What are the biggest examples of a complete lack of investor discipline? Why does Brad believe that for all positions valued over $500M, we should apply a 20% discount? Is today's pricing actually just the new normal? How has the public market pricing impacted the deployment of growth stage checks? How will this play out in the next 12 months? Why does Brad believe there is "not blood on the streets yet"? How does the speed of interest rate change impact our ecosystem so dramatically? Items Mentioned in Today's Episode: Brad's Favourite Book: The Snowball: Warren Buffet and the Business of Life
Investors are facing one of the most challenging backdrops in recent years amid slowing economic growth, rising inflation, and geopolitical conflicts. In this special series, Exchanges at Goldman Sachs: Great Investors, we speak with the world's most respected investors about their investing strategies, career trajectories, and their outlook on markets and the economy. In our most recent episode, Brad Gerstner, founder and CEO of Altimeter Capital, talks with Goldman Sachs' Katie Koch, Chief Investment Officer of Public Equities in the Asset Management Division, about the tech downturn and the launch of Altimeter at the peak of the financial crisis.
We hear a lot these days about hedge funds becoming venture firms, and venture firms becoming hedge funds. But a decade before either of those approaches became mainstream, a tiny $3m fund in Boston named Altimeter Capital set out simply to invest in a concentrated portfolio of America's very best technology companies, regardless if they were public or private. Today that tiny firm has grown to nearly $15B under management and become a premier “capital partner” to founders at all but the very earliest stages — companies like Snowflake, Facebook, Roblox, Plaid, Grab and Acquired fan-favorite Modern Treasury. We sit down with founder & CEO Brad Gerstner to dive into the story behind Altimeter's meteoric rise.Sponsor: https://acquired.fm/zoominfoThis episode has video! You can watch it on YouTube.PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!).Carve Outs:Brad's Twitter thread on Invest America: https://twitter.com/altcap/status/1347454947583950849?s=20&t=gM5zJMcq9p96GcjEHZw56w Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
We hear a lot these days about hedge funds becoming venture firms, and venture firms becoming hedge funds. But a decade before either of those approaches became mainstream, a tiny $3m fund in Boston named Altimeter Capital set out simply to invest in a concentrated portfolio of America's very best technology companies, regardless if they were public or private. Today that tiny firm has grown to nearly $15B under management and become a premier “capital partner” to founders at all but the very earliest stages — companies like Snowflake, Facebook, Roblox, Plaid, Grab and Acquired fan-favorite Modern Treasury. We sit down with founder & CEO Brad Gerstner to dive into the story behind Altimeter's meteoric rise. This episode has video! You can watch it on Spotify (right in the main podcast interface) or on YouTube. PSA: if you want more Acquired, you can follow our newly public LP Show feed here in the podcast player of your choice (including Spotify!). Sponsors: Thank you to our presenting sponsor for all of Season 10, Vanta! Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they're like the “AWS of security and compliance”. Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Vouch and to SoftBank Latin America. You can learn more about them at: https://bit.ly/acquired-vouch https://bit.ly/acquiredsoftbanklatam Carve Outs: Brad's Twitter thread on Invest America: https://twitter.com/altcap/status/1347454947583950849?s=20&t=gM5zJMcq9p96GcjEHZw56w Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
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