Podcasts about invest like

My guest today is Jay Hoag. Jay is the co-founder of Technology Crossover Ventures, known as TCV, which pioneered the growth investing category and has backed legendary companies like Netflix, Spotify, and Expedia over three decades. Jay explains how macro factors like regulation have become unexpectedly central to technology investing. He offers his contrarian take on today's market, arguing that consumer internet represents significant opportunity while most investors chase SaaS and AI deals. We discuss investing in new technology versus commercialization, TCV's evolution from cold-calling to AI-powered sourcing of 11 million companies, and their three-person unanimous investment committee structure. Please enjoy my conversation with Jay Hoag.  For the full show notes, transcript, and links to mentioned content, check out the episode page⁠ ⁠⁠⁠⁠here.⁠⁠⁠⁠⁠ ----- This episode is brought to you by⁠⁠⁠⁠⁠ Ramp⁠⁠⁠⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠ Ramp.com/invest⁠⁠⁠⁠⁠ to sign up for free and get a $250 welcome bonus. – This episode is brought to you by⁠⁠⁠⁠⁠⁠ Ridgeline⁠⁠⁠⁠⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠⁠⁠⁠⁠⁠ ridgelineapps.com⁠⁠⁠⁠⁠⁠ to learn more about the platform. –  This episode is brought to you by⁠⁠⁠⁠ AlphaSense⁠⁠⁠⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠⁠⁠⁠ Alpha-Sense.com/Invest⁠⁠⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:18) Market Conditions and Investment Opportunities (00:06:57) Consumer Internet Businesses and AI (00:09:04) Technology Commercialization Challenges (00:11:30) Public vs. Private Market Dynamics (00:15:32) Growth Investing and Competitive Dynamics (00:22:34) History and Resilience of TCV (00:26:32) Understanding the Firm's Investment Lifecycle (00:27:06) Evolution of Sourcing Strategies (00:28:33) The Role of Data Intelligence in Sourcing (00:29:41) Internal Investment Process at TCV (00:34:31) Challenges and Strategies in Long-term Investments (00:41:15) Reflections on the Investment World (00:43:48) Personal Insights and Final Thoughts

Darrell Gargala started investing in real estate as a way to stay busy after retiring from the Air Force. But it's become a passion, and he's even bringing his kids into the fold. In this episode, he shares how he's built up a 7 digit real estate portfolio, why he keeps his projects active, and how he's passing on this knowledge to his kids.Find out more about the podcast at https://www.thebillionairepodcast.com/ and PREORDER the Invest Like a Billionaire book at www.thebillionairebook.org/ And check out Ben & Bob's company and invest along at https://aspenfunds.us/

My guest today is Dinakar Singh. Dinakar is the founder and CEO of Axon, the family office successor to TPG-Axon, which was a successful global long-short hedge fund. We wanted to share his story on Father's Day to honor the person and the dad that Dinakar is. He shares one of the most extraordinary stories at the intersection of finance and medicine I've ever encountered. This conversation explores the highest-stakes investment themes—timing, concentrated conviction, exceptional team building, and deploying resources toward outcomes that matter most. I will let him tell you his story. Please enjoy my conversation with Dinakar Singh.  For the full show notes, transcript, and links to mentioned content, check out the episode page⁠⁠⁠ here.⁠⁠⁠ ----- This episode is brought to you by⁠⁠⁠ Ramp⁠⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠ Ramp.com/invest⁠⁠⁠ to sign up for free and get a $250 welcome bonus. – This episode is brought to you by⁠⁠⁠ Ridgeline⁠⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠⁠⁠ ridgelineapps.com⁠⁠⁠ to learn more about the platform. – This episode is brought to you by⁠⁠⁠ AlphaSense⁠⁠⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠⁠⁠ Alpha-Sense.com/Invest⁠⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:17) The Diagnosis and Initial Reactions (00:07:29) Understanding SMA and the Scientific Challenge (00:09:15) The Drive to Fund Research and Find a Cure (00:14:10) Building a Virtual Company for Drug Development (00:19:02) Breakthroughs and the First Approved Drugs (00:24:16) Personal Reflections and the Impact of the Journey (00:40:25) Challenges in the Biotech Industry and Future Hopes (00:46:43) The Kindest Thing Anyone Has Ever Done For Dinakar

My guest today is Bill Gurley. Bill was the general partner at Benchmark Capital. He joins me for his sixth time on Invest Like the Best with his most comprehensive market analysis yet, examining the realities reshaping venture capital. Bill tackles the uncomfortable math underlying today's venture returns, with companies staying private for far longer. He also walks through why no one—from GPs to LPs to founders—has proper incentives to mark assets accurately, creating a system-wide coordination problem. And, we dig into the investment implications of AI as a platform shift, ranging from evaluating AI revenue quality to international competitive dynamics. Bill offers crucial perspective on playing the game both as it exists today and as it may evolve. Please enjoy my conversation with Bill Gurley. For the full show notes, transcript, and links to mentioned content, check out the episode page⁠⁠⁠⁠ here.⁠⁠⁠⁠ ----- This episode is brought to you by⁠⁠⁠⁠ Ramp⁠⁠⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠ Ramp.com/invest⁠⁠⁠⁠ to sign up for free and get a $250 welcome bonus. – This episode is brought to you by⁠⁠⁠⁠⁠ Ridgeline⁠⁠⁠⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠⁠⁠⁠⁠ ridgelineapps.com⁠⁠⁠⁠⁠ to learn more about the platform. –  This episode is brought to you by⁠⁠⁠⁠⁠ Arcana. Arcana is the world's most advanced portfolio intelligence platform, trusted by institutional investors managing trillions in AUM — including market neutral, long-short, long-only, and capital allocators. Arcana enables portfolio managers, risk teams, analysts, and CIOs to drill into exposures and idio, construct optimal portfolios, and decompose performance at incredible granularity. Visit arcana.io to request a demo and learn more. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:23) State of the Union: Venture Capital Edition (00:07:58) The Rise of Mega VC Funds (00:09:38) Zombie Unicorns: The Overvalued Giants (00:17:29) The IPO and M&A Market Stalemate (00:24:08) The AI Wave and Its Impact (00:26:03) Private Markets and LP Liquidity Issues (00:29:57) The Future of Capital Markets (00:37:49) Advice for Founders in a Changing Landscape (00:39:27) The High-Stakes Game of Capital Battles (00:41:35) AI: The New General Purpose Technology (00:42:57) Challenges and Opportunities in AI Revenue Models (00:44:37) The Role of Founders in the AI Revolution (00:46:44) The Impact of Time and Liquidity on Venture Capital (00:50:35) Navigating the Future of Venture Capital (00:58:45) International Dynamics in the AI Race (01:13:58) Advice for Founders in the AI Era

David Shaw has 25 years of massively successful investing and entrepreneurship behind him – but he wishes he started even earlier. From a decade of W2 slogging, he ditched the pay cheque in favour of big swings, and it worked in his favour. In this episode, he tells Ben why he opts for A-class properties, the value of time in compounding wealth, and the entrepreneur's secret weapon: scalability.Check out David's podcast https://burnyourboatswealth.com/ Find out more about the podcast at https://www.thebillionairepodcast.com/ and PREORDER the Invest Like a Billionaire book at www.thebillionairebook.org/ And check out Ben & Bob's company and invest along at https://aspenfunds.us/

Today, we are dropping a special episode in the Invest Like the Best Feed. 50X is back, a fan favorite series from Will Thorndike and the team at Compounding Labs. Will's book, "The Outsiders," is one of the best business and investing books that you'll find. You'll hear him continuing his work in the hosting chair as he looks in detail at investments that have appreciated at least 50-fold.Season two features Asurion. Colossus is excited to partner with Will as he sits down with the management and investors behind this legendary investment. We kick off this special drop with a short interview that I did with Will on everything he learned studying this business, followed by the full three-part series. Learn more and dive into our research at ⁠50xpodcast.com⁠ —- This episode is brought to you by⁠⁠ Ramp⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠ Ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. — This episode is brought to you by ⁠Oberle⁠. Oberle is a specialty insurance brokerage providing insurance services to search funds, independent sponsors, family offices, and private equity firms. Oberle supports its clients with a comprehensive insurance due diligence covering a wide range of items, including commercial insurance, Employee Benefits, key person life insurance, and reps and warranty coverage. Additionally, Oberle has a thriving personal lines practice, designed for entrepreneurs seeking a higher-level service and expertise when it comes to insuring one's home, vehicles, and valuables. If you're interested in connecting with the Oberle team:  ⁠https://oberle-risk.com/50x⁠ — This episode is brought to you by ⁠System Six⁠, a searcher-owned outsourced bookkeeping and accounting services firm that has been a great partner to us at Compounding Labs.  With the right modern tools and a strong team, System Six will eliminate headache for you and give you time back so you can focus on growing your business. Whether you're a CEO or CFO stuck in the weeds, or an investor trying to support your CEOs and portfolio companies, reach out to hello@systemsix.comand mention the podcast for your first month of ongoing bookkeeping free. —- 50X is a property of Colossus, LLC. For more episodes of 50X, visit⁠⁠⁠ joincolossus.com/episodes⁠⁠⁠. Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠). Follow us on Twitter: @50Xpodcast | @joincolossus Show Notes (00:00:00) Welcome to 50X (00:04:52) Patrick interviews Will Thorndike (00:18:16) The Early Days (‘95-‘01) with Kevin Taweel (01:24:44) The Flywheel Era (‘01-‘07) with Kevin Taweel (02:24:32) Retracing the Path to 100 times 50x with Irv Grousbeck

My guest today is John Zito. John is the Co-President of Apollo Global Management. He shares how they've quietly built one of the most important financial institutions of our time, originating over $250 billion annually. John's thesis on the convergence of private and public markets - and Apollo's positioning to capture 100% of client portfolios rather than just alternatives allocations - offers a fascinating glimpse into where institutional investing is heading. We discuss the cultural and strategic elements that drive John, Apollo's merger with Athene, the idea of artistry at scale, and the evolution of capital markets. Please enjoy my conversation with John Zito.  For the full show notes, transcript, and links to mentioned content, check out the episode page⁠⁠⁠ here.⁠⁠⁠ ----- This episode is brought to you by⁠⁠⁠ Ramp⁠⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠ Ramp.com/invest⁠⁠⁠ to sign up for free and get a $250 welcome bonus. – This episode is brought to you by⁠⁠⁠⁠ Ridgeline⁠⁠⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠⁠⁠⁠ ridgelineapps.com⁠⁠⁠⁠ to learn more about the platform. –  This episode is brought to you by⁠⁠⁠ AlphaSense⁠⁠⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠⁠⁠ Alpha-Sense.com/Invest⁠⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:55) The Rise of Apollo and Credit Markets (00:08:05) Innovations in Asset Management (00:11:42) The Role of the US in Global Capital Markets (00:15:26) The Future of Asset Management and Investment Strategies (00:21:03) The Impact of Interest Rates on Investment (00:25:27) Apollo's Business Model and Growth (00:25:17) The Changing Landscape of Private Markets (00:46:03) Apollo's Culture and Vision (00:47:54) The Importance of Company Culture (00:52:52) The Future of Private and Public Markets (00:57:50) Building a Great Origination Platform (01:02:03) Exciting Deals and Personal Stories (01:14:47) The Role of AI and Future Opportunities (01:22:16) Maintaining Company Culture Amidst Change (01:24:06) The Kindest Thing Anyone Has Ever Done For John

The oil & gas price has softened, but does that mean you should dump your investments, or double down? Bob and Ben Fraser discuss the headlines and the concerns they are hearing from their investors. They share their own perspectives, how oil & gas have fared in the past downturns, and where they're betting that investment is going next. Find out more about the podcast at https://www.thebillionairepodcast.com/ and PREORDER the Invest Like a Billionaire book at www.thebillionairebook.org/ And check out Ben & Bob's company and invest along at https://aspenfunds.us/

Josh Heintz is the Vice President of Strategic Partnerships at LendingOne, a private lending company specializing in providing financing solutions for real estate investors. With extensive experience in the real estate and financial sectors, Josh focuses on developing innovative lending products that cater to the unique needs of investors, including fix-to-rent loans, portfolio loans, and interest-only options. He works closely with clients to create tailored strategies, helping them scale their portfolios and achieve long-term investment goals. Yonatan (Yoni) Schmidt is the Regional Vice President of Sales and Marketing at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, Wichita, and Arkansas. After working as a financial analyst at a private equity firm, he founded Tulsa Property Lad to offer clients a better way to buy, sell, manage, and invest in real estate. Yoni provides comprehensive Oklahoma real estate services and listings, supported by first-class customer service. In this episode… Many investors overlook Oklahoma when scouting for their next property, focusing instead on flashier markets. But behind the modest headlines, Oklahoma offers strong returns, low competition, and unique growth potential. What makes this state such a compelling place for serious real estate investors? According to Yoni Schmidt, a seasoned investor and property management expert with deep market knowledge in Tulsa and Oklahoma City, the key lies in Oklahoma's unmatched balance of affordability, stability, and steady appreciation. He highlights that Oklahoma City is ideal for core-plus investments, while Tulsa offers enhanced yield opportunities for long-term buy-and-hold strategies. With low unemployment, rising rents, and high occupancy rates, investors can achieve solid returns with lower risk. He also emphasizes the importance of local expertise, especially in markets with rapidly shifting neighborhood dynamics, where a few streets can mean the difference between success and regret. In this episode of The Same Day Podcast, Joshua Heintz teams up with Yoni Schmidt for an in-depth masterclass on investing in Oklahoma real estate. They break down top-performing neighborhoods in Tulsa and Oklahoma City, explain the benefits of DSCR loans over traditional lending, and outline how to structure investments for asset protection. Yoni also shares practical advice on using LLCs and local insights to scale a rental portfolio.

Welcome to this classic episode. Classics are my favorite episodes from the past 10 years, published once a month. These are N of 1 conversations with N of 1 people. In the midst of her transition to OpenAI, we are spotlighting the force that is Fidji Simo. She is the former CEO of Instacart and grew up in a small town in the South of France and was the first person in her family to graduate from high school. Since then, she has had a dazzling career with stops at France's leading university, eBay, and Facebook. Fidji spent the better part of a decade at Facebook where she led the Facebook App before joining the online grocery platform, Instacart, in mid 2021. We talk about Fidji's consumer product experiences, Instacart's role within the grocery ecosystem, and delve into her personal philosophy on leadership. Please enjoy this wide-ranging discussion with Fidji Simo. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by ⁠WorkOS⁠. WorkOS is a developer platform that enables SaaS companies to quickly add enterprise features to their applications. With a single API, developers can implement essential enterprise capabilities that typically require months of engineering work. By handling the complex infrastructure of enterprise features, WorkOS allows developers to focus on their core product while meeting the security and compliance requirements of Fortune 500 companies. Visit ⁠WorkOS.com⁠ to Transform your application into an enterprise-ready solution in minutes, not months. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  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: @patrick_oshag | @JoinColossus Show Notes (00:00:00) Welcome to Invest Like the Best (00:03:51) Comparing her experiences with Facebook and Instacart (00:06:22) The dimensionality of creating great consumer products online (00:07:50) How Instacart uses AI now and her advice to other companies who are ready to incorporate AI into their business (00:15:41) What being a pragmatic technologist means to her (00:18:02) Influences in younger years that led to her career path in technology (00:21:00) The landscape Instacart seeks to build and how major key players within the industry are involved (00:27:09) Data algorithms and their role in helping consumers (00:29:24) Scale around the original core business (00:32:12) The functional difference between Instacart shoppers and delivery drivers  (00:34:59) Issues with fully automated grocery store facilities (00:37:32) Insight into working with brands and consumer brand loyalty  (00:43:16) Her vision for the future of Instacart (00:46:58) The possibility of becoming the major software platform for most retailers (00:49:34) Her principles for capital allocation (00:52:34) Common misperceptions about Instacart from prospective investors (00:54:21) Her philosophy of seeing the magic in team members (00:56:46) Expanding knowledge while managing a complex business environment   (01:01:01) When she felt the most helpless in her career (01:03:46) Insight into generative AI and how it could shape the online grocery experience (01:08:00) The role of content and its importance for businesses like Instacart (01:11:10) The future of AI personalities and customizing your shopping experience (01:12:35) The kindest thing anyone has ever done for her

The investing access and strategies of the mega-rich, made available to you! Welcome back to Unlock Your Life! This week, Jennings talks with Mark Miller, CEO of Hilton Tax & Wealth Advisors, about the service and financial education Hilton is providing to investors across multiple levels of wealth tiers.  If you're interested in de-complicating diversification and elite investing strategy, Mark is the guy for you. You can find more and connect with Mark Miller at Hiltonwealth.com. Find Mark's book at https://book.hiltonwealth.com. Thanks for listening!

My guest today is Graham Weaver. My guest today is Graham Weaver. Graham is the founder of Alpine Investors, a large private equity firm targeting an interesting market inefficiency. Alpine focuses on the thousands of $20 million revenue businesses whose baby boomer owners want to retire, but lack succession plans. Alpine buys companies and installs 28-year-old military veterans and top MBA graduates as CEOs, leveraging 25 years of intellectual property on how young executives can successfully run established businesses. Alpine's CEO-in-training program is now the most applied-to job at Harvard, Stanford, and Kellogg business schools. We discuss the past, present and future of their unique approach. Please enjoy my conversation with Graham Weaver. For the full show notes, transcript, and links to mentioned content, check out the episode page⁠⁠ here.⁠⁠ ----- This episode is brought to you by⁠⁠ Ramp⁠⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠ Ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by⁠⁠ AlphaSense⁠⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠⁠ Alpha-Sense.com/Invest⁠⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by⁠⁠ Ridgeline⁠⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠⁠ ridgelineapps.com⁠⁠ to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠https://thepodcastconsultant.com⁠⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:13) The Journey to Private Equity (00:06:59) Early Influences and Personal Growth (00:09:54) The Power of Wrestling and Rowing (00:11:45) Choosing Your Path and Making Decisions (00:14:48) College Goals and Rowing Success (00:18:05) Lessons from Early Business Ventures (00:26:24) Founding Alpine and Early Challenges (00:34:46) Core Beliefs and Talent Development (00:39:07) Fun Board Meetings and Team Dynamics (00:40:42) Platform Building 101 (00:44:08) Talent and Training Programs (00:49:12) Employee and Customer Engagement (00:52:27) Financial Outcomes and Asymmetric Returns (00:55:52) Incentivizing Young CEOs (01:00:26) The Role of Emotional Intelligence (01:02:45) The Alpine CEO in Training Program (01:03:40) Teaching at Stanford and Influential Mentors (01:07:58) Helping Students Find Their Passion (01:10:22) Visualizing Your Future Self (01:11:19) Scalability of Coaching (01:12:15) Personal Growth Through Teaching (01:16:16) The Role of Executive Coaching (01:24:45) Lessons from a Bad Deal (01:31:50) Daily Routines and Success (01:36:13) The Future of Private Equity (01:35:24) Unleashing Heroes at Alpine (01:38:09) The Journey of Building Alpine (01:41:31) The Kindest Thing Anyone Has Ever Done For Graham

In this episode of RevOps Champions, Brendon Dennewill sits down with Sean Steigerwald, a serial entrepreneur and the CEO of CustomerIQ. Sean brings a wealth of experience from founding and growing SaaS and analytics companies, with deep expertise in business development, sales, and RevOps strategy. The conversation kicks off with Sean introducing CustomerIQ—a platform designed to automate and enrich CRM data entry while simplifying email automation for companies with complex sales cycles, particularly those using HubSpot or Salesforce.The discussion dives into the operational challenges of B2B companies, especially those in enterprise SaaS, professional services, and manufacturing. Sean emphasizes that the main pain point for sales and revenue teams is updating and leveraging the CRM efficiently. He stresses the importance of removing tedious manual tasks, and automating processes only after they've been validated manually. Both Sean and Brendon highlight the need for strong RevOps leadership to ensure cross-team alignment and operational efficiency, and share their appreciation for business operating systems like EOS to help teams remain focused and empowered during growth phases.Throughout the episode, Sean champions the value of consistent execution (“lead bullets” over “silver bullets”) and warns against overcomplicating tech stacks with unnecessary tools. They agree that alignment—across people, process, data, and technology—is key to scaling and customer retention. Sean concludes with practical advice: focus on process clarity before automation, use your CRM as a central hub for alignment, and keep things simple. For further learning, he recommends business books like “The Hard Thing About Hard Things” and entrepreneurial podcasts such as “Invest Like the Best” and “Founders.”Find more at revopschampions.com

My guest today is Gustav Söderström. Gustav is the Co-President, Chief Product Officer & Chief Technology Officer at Spotify. Gustav lets us behind the scenes on how Spotify thinks about the future of audio and video, and what leadership lessons he's learned from making mistakes and taking risks in a rapidly changing technological landscape. He shares fascinating insights on their synchronized team structure and how they have positioned themselves as "the R&D department" for the entire music industry. We discuss their integration of AI, their unique "bets board" process for allocating resources, and how they've evolved from a music service into a multimedia platform with over 650 million users. Please enjoy my conversation with Gustav Söderström. For the full show notes, transcript, and links to mentioned content, check out the episode page⁠ here.⁠ ----- This episode is brought to you by⁠ Ramp⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠ Ramp.com/invest⁠ to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by⁠ AlphaSense⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠ Alpha-Sense.com/Invest⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by⁠ Ridgeline⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠ ridgelineapps.com⁠ to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:27) Spotify's Journey Through Technological Shifts (00:06:28) The Impact of Generative AI on Consumer Products (00:09:36) AI in Coding and Productivity (00:11:11) Consumer Engagement and AI Playlisting (00:14:43) Strategic Frameworks and Decision-Making at Spotify (00:19:39) The Bets Process: Structured Innovation (00:31:11) The Future of AI and Business Models (00:44:31) The Future of AI and Inference Costs (00:46:21) The Concept of Computronium and Infinite Computing (00:47:02) David Deutsch and the Beginning of Infinity (00:48:55) The Power of Explanations and Human Understanding (00:54:03) Spotify's Free Tier and Consumer Needs (00:56:45) Spotify's Relationship with the Music Industry (01:03:03) The Rise of Podcasting and Audiobooks (01:15:45) Personal Interests and Continuous Learning (01:20:32) The Kindest Thing Anyone Has Ever Done For Gustav

In our first Headlines episode, Bob Fraser joins Ben to talk about the big question on many Aspen investors' minds: are we heading towards a recession? With tariff news and trade war threats dominating the news cycle, it's easy to get worried, so Bob and Ben are taking a look at what the data says and its impact for investors. Find out more at www.thebillionairepodcast.com/⁠ and preorder the Invest Like a Billionaire book ⁠⁠www.thebillionairebook.org/⁠Check out Ben & Bob's company and invest along at aspenfunds.us/⁠

My guests today are Rick Ruback and Royce Yudkoff. Rick and Royce are Harvard Business School professors who teach their students how to search for, acquire, and run small business directly after graduation. It has been almost a decade since our first conversation, and unlike many past interviews that have become outdated due to technology or market changes, the core principles they shared about entrepreneurship through acquisition remain remarkably relevant today. They explore fascinating developments in the search-fund ecosystem, including the bifurcation between funded searchers targeting larger companies and self-funded entrepreneurs finding success with smaller businesses. Rick and Royce share their accumulated wisdom on what makes a company worth buying, why the "magic is in the multiples," and how their students consistently achieve impressive returns through patient, value-oriented business acquisition. Please enjoy my conversation with Rick Ruback and Royce Yudkoff. For the full show notes, transcript, and links to mentioned content, check out the episode page⁠ here.⁠ ----- This episode is brought to you by⁠ Ramp⁠. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠ Ramp.com/invest⁠ to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by⁠ AlphaSense⁠. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at⁠ Alpha-Sense.com/Invest⁠ and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by⁠ Ridgeline⁠. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to⁠ ridgelineapps.com⁠ to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:23) Changes in the Small Firm Acquisition Space (00:06:52) The Impact of SBA Loans on Acquisition Entrepreneurship (00:08:55) The Evolution of Entrepreneurship Through Acquisition (00:10:09) Risk and Return in the Search Fund Model (00:13:38) The Role of Investors in Funded and Unfunded Searches (00:19:33) Criteria for a Good Acquisition Target (00:28:36) The Growing Popularity of Self-Funded Searches (00:43:21) Challenges and Red Flags in Small Firm Acquisitions (00:49:47) Exploring Margin Expansion and Growth (00:51:02) The Impact of Practical Teaching in Business Education (00:52:12) Keys to a Successful Business Class (00:53:30) The Role of Theory in Practical Business Education (00:55:29) Challenges and Rewards of Teaching Business (00:57:46) Capital Allocation in Small Businesses (01:00:50) Advice for Aspiring Business Searchers (01:03:45) Value Creation and Business Lifecycle (01:08:20) Deciding to Leave Private Equity (01:11:20) The Future of Higher Education in Business (01:16:06) Ongoing Relationships with Former Students (01:18:45) Favorite Business Cases to Teach (01:24:46) Encouraging More People to Pursue Business Ownership

Invest Like the Best: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- My guest today is David Senra. David is the host of Founders podcast and a dear friend. This is our third time doing Invest Like the Best together and we have conversations like this one all the time. In today's episode, David distills wisdom from 400 entrepreneur biographies into a single word: focus. He reveals why exceptional builders like Todd Graves and James Dyson create billion-dollar empires through obsessive dedication to simple ideas—whether perfecting chicken fingers or designing vacuum cleaners—while rejecting conventional growth timelines and investor pressure. David challenges us all to find the one thing we'd pursue even without recognition or reward, or what I like to call your life's work. We discuss the concept of “anti-business,” raising capital as a founder, and decades-long commitment. Please enjoy this discussion with David Senra.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:43) The Essence of Focus in Entrepreneurship (00:09:20) The Value of Long-Term Commitment (00:17:41) The Importance of Simplicity and Mastery (00:37:11) The Miracle of Entrepreneurship (00:44:56) James Dyson's Journey to Success (00:47:03) The Importance of Passion in Business (00:49:12) Critique of Modern Consumerism (00:52:18) The Value of Craftsmanship (00:56:36) The Drive for Excellence (01:04:06) The Importance of Hiring Top Talent (01:09:54) Creative Financing Strategies (01:19:35) Defining a Founder

Invest Like the Best Key Takeaways  Time is the best filter: History's top entrepreneurs were completely focused over a long periodThe essential maxims from the episodeIt does not matter the pursuit; what matters is having a missionA great business takes time Find a simple idea and take it seriously – Charlie Munger Do one thing, and do it better than anyone else – Todd Graves Learning is not memorizing information; learning is changing your behavior The reward for great work is more work – Kevin Kelly  The hard way is the right way – Jerry Seinfeld  Be less interested in timely and more interested in timeless Overpay for talent because you really cannot overpay for talent Limit the amount of details, then make every detail perfect Pay attention to the nickels because the nickels turn into quarters Mediocrity is invisible until passion shows up and exposes it – Michael Ovitz The most successful businesses go ridiculously far in maximizing or minimizing one or a few variables Great entrepreneurs find opportunity in catastrophe Learning about history's most ambitious people stretches your imagination for what is possible in life “You think what you want is money, but what you really want is meaning.” – David SenraJust keep going; you will figure it out – have the self-belief and keep going Read the full notes @ podcastnotes.orgMy guest today is David Senra. David is the host of Founders podcast and a dear friend. This is our third time doing Invest Like the Best together and we have conversations like this one all the time. In today's episode, David distills wisdom from 400 entrepreneur biographies into a single word: focus. He reveals why exceptional builders like Todd Graves and James Dyson create billion-dollar empires through obsessive dedication to simple ideas—whether perfecting chicken fingers or designing vacuum cleaners—while rejecting conventional growth timelines and investor pressure. David challenges us all to find the one thing we'd pursue even without recognition or reward, or what I like to call your life's work. We discuss the concept of “anti-business,” raising capital as a founder, and decades-long commitment. Please enjoy this discussion with David Senra.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:43) The Essence of Focus in Entrepreneurship (00:09:20) The Value of Long-Term Commitment (00:17:41) The Importance of Simplicity and Mastery (00:37:11) The Miracle of Entrepreneurship (00:44:56) James Dyson's Journey to Success (00:47:03) The Importance of Passion in Business (00:49:12) Critique of Modern Consumerism (00:52:18) The Value of Craftsmanship (00:56:36) The Drive for Excellence (01:04:06) The Importance of Hiring Top Talent (01:09:54) Creative Financing Strategies (01:19:35) Defining a Founder

In this episode of the Real Estate Pros podcast, host Michael Stansbury interviews Joan Brothers, a seasoned real estate professional from New York City. Joan shares her unique journey into real estate, her experiences in a dynamic market, and the importance of adaptability in the industry. She discusses the global connections she has cultivated and the investment strategies that are prevalent in New York. The conversation also explores the diverse neighborhoods of New York City and how they contribute to the city's vibrant real estate landscape. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

My guest today is David Senra. David is the host of Founders podcast and a dear friend. This is our third time doing Invest Like the Best together and we have conversations like this one all the time. In today's episode, David distills wisdom from 400 entrepreneur biographies into a single word: focus. He reveals why exceptional builders like Todd Graves and James Dyson create billion-dollar empires through obsessive dedication to simple ideas—whether perfecting chicken fingers or designing vacuum cleaners—while rejecting conventional growth timelines and investor pressure. David challenges us all to find the one thing we'd pursue even without recognition or reward, or what I like to call your life's work. We discuss the concept of “anti-business,” raising capital as a founder, and decades-long commitment. Please enjoy this discussion with David Senra.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:43) The Essence of Focus in Entrepreneurship (00:09:20) The Value of Long-Term Commitment (00:17:41) The Importance of Simplicity and Mastery (00:37:11) The Miracle of Entrepreneurship (00:44:56) James Dyson's Journey to Success (00:47:03) The Importance of Passion in Business (00:49:12) Critique of Modern Consumerism (00:52:18) The Value of Craftsmanship (00:56:36) The Drive for Excellence (01:04:06) The Importance of Hiring Top Talent (01:09:54) Creative Financing Strategies (01:19:35) Defining a Founder

In this episode, Tiffany Grant sits down with Mark Miller, who manages the prestigious Hilton Family Office, to demystify the concept of a “family office.” Mark shares the fascinating origins of family offices, explains how they serve ultra-wealthy families, and reveals how his firm is bringing these powerful wealth-building strategies to “Main Street” investors. Whether you're curious about behind-the-scenes money management for the rich or looking for new ways to coordinate your own financial team, you won't want to miss this insightful conversation.Check out the full episode show notes: https://moneytalkwitht.com/podcast-show-notes/family-offices-wealth-management/TakeawaysA family office is a centralized management structure that helps wealthy families manage their finances more efficiently. The Rockefeller family pioneered the family office concept back in the 1890s to deal with their financial chaos. Today, family offices are evolving into virtual models, enabling multiple families to collaborate on wealth management strategies. Hilton Tax and Wealth Advisors aim to bring family office strategies to Main Street investors, making advanced wealth management accessible to more people. Effective wealth management requires advisors to communicate and collaborate, which is a major advantage of the family office structure. By integrating financial advisors under one roof, families can maximize their wealth-building potential and minimize conflicts in advice.Resources MentionedHilton Wealth: hiltonwealth.comRequest a complimentary copy of Mark Miller's book: Hilton Wealth – How to Invest Like an American DynastyConnect with TiffanyWebsite: moneytalkwitht.comSocial Media: @moneytalkwitht on all platformsNew episodes every Thursday!Can't wait? Listen to previous episodes and dive deeper at moneytalkwitht.com

My guest today is Cliff Sosin. Cliff is the founder of CAS Investment Partners, a fund he started with $5 million in 2012 and has grown to $1.7 billion as of the last reported numbers at the end of 2024. At the time, CAS had only four positions. This conversation is different to our typical episodes. We start by talking about Cliff's investing philosophy but the bulk of this long discussion is a case study into his remarkable investment in Carvana. Cliff is one of the biggest investors in the business, which had a market cap over $60 billion in 2021, then fell 99%, survived, and now has a market cap approaching $50 billion again. While I hosted Carvana's CEO, Ernie Garcia, last year to get the inside perspective on managing through such turbulence, today we hear the investor's side of this extraordinary story. It is a singular episode and there are so many lessons in this rare opportunity to hear a major investor describe his decision-making process at every stage of the journey. Please enjoy my great conversation with Cliff Sosin. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:00:32) Early Career and Discovering Investing (00:01:18) Journey Through Financial Firms (00:01:49) Starting the Firm and Initial Challenges (00:03:41) Investment Philosophy and Market Realities (00:05:07) Building the Firm and Investor Relations (00:07:23) Defining a Good Business (00:12:31) Contained vs. Uncontained Businesses (00:15:30) Mental Models and Market Insights (00:30:13) The Role of ESG in Investing (00:34:26) The Carvana Investment Story (00:41:01) The Complexity of Car Transactions (00:41:43) Carvana's Real Estate and Logistics Network (00:44:12) Reconditioning and Selling Cars (00:45:16) Carvana's Financing and Customer Service (00:46:43) Economies of Scale and Trust (00:49:40) Challenges and Management Insights (00:59:07) Operational Issues and Market Challenges (01:18:56) Questioning Carvana's Sales Strategy (01:19:17) The Role of Word of Mouth in Carvana's Growth (01:20:28) Identifying Early Adopters (01:21:00) The Impact of Market Conditions on Carvana (01:22:10) Carvana's Operational Challenges (01:23:10) Cutting Costs and Organizational Efficiency (01:27:19) The Apollo Deal and Debt Restructuring (01:28:23) Personal Reflections on Investment Decisions (01:34:21) The Psychological Toll of Investment (01:45:16) Future Investment Strategies and AI (01:49:48)The US Market and Investment Opportunities (01:54:51) The Kindest Thing Anyone Has Ever Done For Cliff

Welcome to this classic episode. Classics are my favorite episodes from the past 10 years, published once a month. These are N of 1 conversations with N of 1 people. There aren't many people like Cyan Banister. Her life story is remarkable. She was homeless at a young age, dropped out of high school, and five years ago she suffered an extremely rare stroke. Yet, in spite of everything, she is one of the most optimistic and curious people you can hope to meet. Cyan is also one of the great angel investors of this era, having invested early in SpaceX, Uber, Postmates, and Deepmind to name a few winners. She became the first female investing partner at Peter Thiel's Founders Fund and now invests at Long Journey Ventures. Our conversation is as much about investing as it is about the essence of life and how connecting with that will help us in our professional pursuits. It is also full of awesome stories about people and companies like SpaceX and Bill Murray. Please enjoy this great conversation with Cyan Banister. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. 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: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: [00:00:00] Welcome to Invest Like the Best [00:04:06] Contrarian Thinking in Investing [00:05:30] Joining Founders Fund and Learning from Peter Thiel [00:11:15] Investing in Companies that Change Lives [00:14:00] The Importance of Overcoming Adversity for Founders [00:16:02] Personal Journey and Choosing Hope [00:20:56] Embracing Curiosity and Wonder in the Face of Adversity [00:21:20] Reconnecting with Our Inner Child [00:24:46] The Interruption and Resumption of the Conversation [00:27:20] The Power of Intuition in Business Decisions [00:32:28] The Story Behind the Investment in Uber [00:38:46] Conclusion: Following the White Rabbit of Curiosity [00:39:08] Investing in Uber: The Beginning [00:41:50] The Impact of Success: Personal Wealth and Privacy [00:50:22] The Intersection of Spirituality and Investing [00:59:34] The Bill Murray Experience: A Lesson in Presence [01:09:54] The Violin Kid: A Tale of Curiosity and Generosity [01:12:43] The Evolution of Investing: A Personal Journey [01:16:34] The Philosophy of Giving: The Universe's Return [01:17:36] The Spirit of a Venture Firm: Founders Fund [01:23:09] The Power of Integral Family Systems [01:28:41] The Trillion Dollar Question: Disrupting Hollywood [01:36:05] The Future of Artistry: AI and Creativity [01:41:39] The Power of Kindness

My guest today is Matt Huang, co-founder of Paradigm, a leading crypto investment firm with over $12 billion in assets under management. Before launching Paradigm in 2018 with Coinbase co-founder Fred Ehrsam, Matt was a partner at Sequoia Capital, where he led many of the firm's crypto investments. It's widely reported that Michael Moritz called Matt “the only regrettable loss in Sequoia's history.” In our conversation, Matt shares his framework for navigating the often illegible frontier of crypto, how his early investment in ByteDance (now worth 10,000x his initial capital) shaped his approach to identifying exceptional founders, and why he believes so deeply in crypto's long-term potential. His firm, Paradigm, not only invests in many of the leading companies in the industry, it also builds open-source tools used by most of crypto. Matt has a rare blend of IQ and EQ that allows him to understand technical complexity, bring together unique talents, and ride out crypto's notorious volatility. Whether you're crypto-curious or crypto-skeptical, I think you'll find his perspective valuable. Please enjoy my great conversation with Matt Huang. Matt Huang's Profile in Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:15) Matt Huang's Early Life and Career (00:08:13) College Years and Early Career (00:12:27) The Failed Startup and Lessons Learned (00:25:58) The Journey to Sequoia Capital (00:32:51) Discovering Bitcoin and Crypto (00:39:33) Founding Paradigm (00:45:40) Building a Unique Investment Team (00:46:37) The Role of Engineers and Researchers (00:48:03) Challenges and Volatility in Crypto (00:52:11) The FTX Investment and Its Aftermath (00:58:40) Crypto as a New Financial System (01:05:19) The Importance of Stablecoins (01:09:54) AI and Crypto: The Next Frontier (01:16:19) Personal Motivations and Mission (01:29:23) The Role of Regulation in Crypto (01:32:27) The Kindest Thing Anyone Has Ever Done for Matt

How can you remove emotion from investing — and make decisions backed purely by data?In this episode of Innovation Meets Leadership, Natalie Born sits down with Andrew Einhorn, CEO and Co-founder of Level Fields, an AI-driven fintech platform that analyzes real-world events to uncover investment opportunities. With a career that began in epidemiology and transitioned into defense consulting and software, Andrew shares how his fascination with data and pattern recognition led him to create tools that help everyday investors make informed decisions. He discusses how global events shape financial markets, how to identify reliable investment signals, and why emotional detachment—paired with the right data—can lead to better results.[00:01 - 05:00] | How an Epidemiologist Built a Fintech ToolHow studying environmental contamination led to software developmentThe importance of following data rather than gut feelingsWhy building software unlocked a creative and scalable way to solve problems[05:01 - 10:49] | Why Past Pandemics Helped Predict the COVID ReboundThe importance of recognizing patterns in government and market responsesHow comparing Zika and swine flu informed COVID analysisWhy emotion-free analysis led to accurate predictions while others panicked[10:50 - 15:34] | How AI Detects Market-Moving EventsThe importance of CEO changes, lawsuits, and product failures as stock indicatorsHow AI tools reduce noise and increase clarity for investorsWhy consistent events provide more reliable signals than black swan moments[15:35 - 21:16] | The Importance of Ignoring Headlines and Watching BehaviorWhy dividend increases and stock buybacks signal strengthThe importance of ignoring negative media narratives in favor of dataHow analyzing company behavior reveals internal confidence long before analysts notice[21:17 - 26:04] | How to Invest Like an Insider Without Being OneHow billionaires entering a company often triggers a turnaroundThe importance of watching early moves like executive changes and layoffsWhy Salesforce's rebound shows the power of understanding corporate playbooksQuotes:“The market reacts to events, not opinions. Patterns repeat if you know where to look.” — Andrew Einhorn“The same events happen again and again—and the market reacts the same way. The data proves it.” - Andrew EinhornConnect with Andrew:LinkeIn: https://www.linkedin.com/in/einhornLEAVE A REVIEW + help someone empower their businesses through collaboration, innovation, and transformation by sharing this episode or clicking here to listen to our previous episodes.Check Natalie's new book, SET IT ON FIRE: The Art of Innovation, available now at setitonfire.coThese are proven solutions to advance your leadership and innovation process. Check out our website innovationmeetsleadership.com, or connect with me on Linkedin, Facebook, Instagram, Twitter, and Youtube.Don't forget to subscribe and leave a 5-star review. Let's go transform something!

On this special two-part episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson speak with Barry Ritholtz to discuss his new book, How Not To Invest. Barry is the co-founder and Chief Investment Officer of Ritholtz Wealth Management, as well as the host of the popular Bloomberg podcast Masters in Business. Then at the 30:00 mark, the guys talk with Alex Morris to discuss his new book, Buffett and Munger Unscripted. Alex is the founder of The Science of Hitting Investment Research. Find complete show notes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.   Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today for the second time is Mark Dow. Mark is one of my favourite thinkers on Macro, and his experience at the IMF, the US Treasury, and Wall Street gives him a truly unique perspective for the current moment. As we went through one of the biggest market and policy upheavals of my career, I reached out to Mark to help us make sense of this situation. We recorded this episode on Thursday, the 10th of April, and talked about the general principle behind tariffs, the global trading system, the goals of President Trump, and the market reaction. Please enjoy this conversation with Mark Dow. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. 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: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Invest Like the Best (00:00:07) Understanding Tariffs: Historical Context and Rationale (00:01:05) China's Role in Global Trade (00:01:54) Impact of Automation on Jobs (00:03:07) Trump's Trade Policies and Their Implications (00:04:20) Challenges with Current Tariff Approaches (00:05:37) Global Trade Imbalances and Misconceptions (00:06:07) Market Reactions and Economic Consequences (00:21:35) Political Shifts and Economic Policies (00:25:56) Trump's Economic Policies and Wage Stagnation (00:26:42) Tariffs and Their Impact on Small Businesses (00:27:20) Market Reactions and Economic Surprises (00:28:41) Equity and Credit Market Dynamics (00:30:59) China's Strategic Moves and Market Implications (00:33:49) The Fed's Role in Economic Stability (00:39:00) Global Trade Relations and Soft Power (00:49:08) Negotiating with Trump: Strategies and Challenges Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Neil Mehta, founder of Greenoaks Capital. In 2012, aged 27, Neil left D.E. Shaw to start Greenoaks with his friend Benny Peretz. One of their first investments was in Coupang, a South Korean e-commerce company led by founder Bom Kim. Neil was so convinced of Coupang's potential that he invested 40% of their initial $50 million fund into the company—a bet that eventually returned about $8 billion. Over its first 13 years, Greenoaks has backed legendary companies like Figma, Wiz, Carvana, Stripe, Discord, Rippling, and Toast—generating over $13 billion in gross profits with a 33% net IRR. Henry Kravis, one of Neil's early investors, describes him as "extremely disciplined" with "exceptional timing" who has "gone against the tide many times." Greenoaks operates with remarkable concentration: just 55 core companies across nearly $15 billion in assets, managed by only nine investment professionals. Their approach reflects their singular pursuit: finding companies that will become a meaningful part of the S&P 500. In our wide-ranging conversation, Neil shares this mission along with his framework for identifying exceptional founders, his concept of "jaw-dropping customer experiences," and how his grandfather's gun shop in India shaped his appreciation for builders of all kinds. Please enjoy my excellent conversation with Neil Mehta. Neil Mehta's Profile in Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:32) Connecting Craftsmanship to Career (00:07:45) The Concept of Jaw Dropping Customer Experience (JDCE) (00:09:48) Building a Successful Business: The Coupang Case Study (00:17:26) The Importance of Founders & Business Models (00:30:05) Greenoaks' Unique Approach to Venture Capital (00:37:54) A Memorable Encounter with Henry Kravis (00:40:52) Early Career and Lessons from Hong Kong (00:44:53) The Partnership with Benny (00:50:28) Navigating the Competitive Landscape (00:59:14) High Conviction Investments: TripActions, Rippling, and Carvana (01:07:00) Investment Strategy and Company Evaluation (01:13:23) Adventures in Emerging Markets (01:17:09) Challenges and Lessons Learned (01:26:16) Personal Values and Community Impact (01:32:16) The Kindest Thing Anyone Has Ever Done For Neil

You built the business. You cashed out. Now what?Most founders think they need to “reinvest everything” or go chase the next big thing. But in this episode of Beyond 8 Figures, I sit down with Ben Fraser of Aspen Funds to break down how to invest after selling a business — the right way.Ben's been inside this game since the last recession. He watched his father build Aspen Funds from scratch after the 2008 crash, and he's since helped scale it into a multi-million-dollar platform that helps entrepreneurs invest passively (and intelligently).We talk about why entrepreneurs make terrible investors, how billionaires actually diversify, and the overlooked tax strategy that could save you six figures. If you're still betting everything on your business — or worse, sitting on cash and hoping for the best — this episode will shift your mindset.Guest Introduction:Ben Fraser is the Chief Investment Officer at Aspen Funds and co-host of the Invest Like a Billionaire podcast, where he helps high-performing entrepreneurs grow and protect their wealth through smarter, passive investments. With a background in commercial lending and institutional asset management, Ben has overseen $125M+ in real estate and business loans. Today, he specializes in guiding business owners toward alternative investment strategies that prioritize stability, cash flow, and long-term growth—without adding complexity to their lives.Key Takeaways & Timestamps:[05:37] The One-Liner That Changes Everything – “Wealth is created through concentration, but preserved through diversification.”[06:38] How Billionaires Really Diversify – Ben reveals the Tiger 21 portfolio breakdown and how to use it.[14:35] Unlocking Tax Loopholes Most Entrepreneurs Miss – What happens when your spouse qualifies as a real estate professional.[15:36] Why One Founder Quit a 6-Figure Job to Save More – Ben shares a story that'll make you rethink W-2s.[19:47] Where the Smart Money Is Moving in 2025 – Ben's macro-driven view of real estate (and what KKR just did).The next big move in your business might start with a conversation.If you've been thinking about leveling up, shifting directions, or preparing for a future exit, A.J. offers strategic support for entrepreneurs at a crossroads. No pitch—just a chance to explore what's possible. 

My guest today is Michael Ovitz. Michael is the legendary talent agent and Co-Founder of CAA or Creative Artists Agency and he is joining me on Invest Like the Best for a second time. Michael started CAA in 1975 and over the next 20 years, he built it into the world's most formidable talent agency, changing Hollywood forever. He shares insights into how he identifies exceptional people across diverse fields - from Hollywood directors like Steven Spielberg to tech founders like Alex Karp of Palantir and venture capitalists like Marc Andreessen. Michael is a force whose expertise extends beyond just people, as he has also become a master in creating institutional momentum, which you'll hear in his involvement with the MoMA, Gulfstream, and more. We discuss his "pilot's checklist" for evaluating talent, the importance of time as his most valuable resource, and why he believes maintaining excellence is critical in any field. Please enjoy my conversation with Michael Ovitz. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:56) Spotting Talent and Building Institutions (00:08:01) The MoMA Story: Transforming an Art Institution (00:19:35) The Importance of Relationships and Time (00:24:32) Building Successful Boards and Teams (00:34:02) Insights on Leadership and Momentum (00:44:49) Building Blackstone and CAA (00:56:32) The Power of Momentum (00:57:25) Overcoming Fear of Failure (01:01:52) Strategic Partnerships and Global Influence (01:17:32) The Importance of Excellence (01:18:22) Mentorship and Legacy (01:34:00) The Future of Media and Technology (01:41:36) Pursuit of Happiness and Lifelong Learning

Your favorite podcast about winning the alternative investing game is back, with a new focus. Every episode we'll be taking you inside the portfolios of everyday millionaires to learn how they have built their successful portfolios. We'll keep you up-to-date on the economics that matter to you, investable megatrends opportunities we're watching closely. Make sure you're subscribed so you don't miss an opportunity to hear how you can be growing your wealth outside of the stock market today. Find out more at https://www.thebillionairepodcast.com/Check out Ben & Bob's company and invest along at https://aspenfunds.us/

Description: In this episode of The Private Equity Podcast, Alex Rawlings sits down with Ben Claremon, Partner at Devonshire Partners, a lower middle-market PE firm investing in micro and nano-cap businesses. Ben shares insights into why PE firms overlook small public companies, how microcap investing presents unique opportunities, and why a hedge fund mindset can be valuable in private equity. He also discusses the challenges of deal competition in the lower middle market, mitigating risks in microcap investments, and how Devonshire builds long-term relationships with business owners.Breakdown:[00:00] Welcome back to The Private Equity Podcast. Today, Alex speaks with Ben Claremon, Partner at Devonshire Partners, focusing on micro and nano-cap investments.[00:30] Ben's journey from real estate and hedge funds to private equity.[01:00] Devonshire's investment focus: $2M–$10M EBITDA, founder/family-led businesses.[01:27] The crowded lower middle market and increased deal competition.[02:25] Why PE firms ignore small public companies and why they shouldn't.[03:48] The lack of institutional capital in microcap public equities—an overlooked opportunity.[05:16] Public vs. private small businesses—why public companies often have better governance.[07:07] Devonshire's hybrid approach: investing in public companies with a private equity mindset.[09:00] How Devonshire builds relationships with microcap companies for long-term deals.[10:28] Risks and challenges in microcap investing—and how Devonshire mitigates them.[12:19] Why small public take-private deals are underexplored by PE.[14:16] Devonshire's screening process to filter out high-risk investments.[16:10] Generalist vs. Specialist Investing—how Devonshire balances both.[19:31] Lessons Ben brought from hedge funds into private equity.[21:57] Ben's podcast recommendations: Capital Allocators, Invest Like the Best, and his own Compounders Podcast.[30:04] Connect with Ben:

My guest today is Darren Farber. Darren is a Managing Partner of Albion River, a private direct investment firm focused on acquiring companies that produce highly technical Defense Products & Services. He is a Former special advisor to the Deputy Under Secretary of Defense, a Former member of U.S. Department of Defense Task Force for Business and Stability Operations, and the list goes on and on. Darren is a wealth of knowledge in this space and someone I am grateful to have in the US corner. He shares his perspective on the changing role of the U.S. in global defense and how recent conflicts have shaped military technology and strategy. Darren explains his investment approach at Albion, focused on finding "one-of-one" suppliers and getting as close to the fundamental "molecules" as possible in defense technology. We discuss insights on evaluating the Taiwan situation, the lessons from Ukraine, how the defense budget is allocated, what investors can learn from defense primes, and why technological superiority remains America's greatest advantage. Please enjoy this discussion with Darren Farber.  Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Introduction and Show Overview (00:06:23) The Changing Role of the US in Global Defense (00:09:23) Evaluating Defense Budgets and Spending (00:11:41) Commercial Technology in Defense (00:15:37) Challenges and Innovations in Defense Procurement (00:22:36) US Defense Strategy and Global Order (00:37:34) The Future of Warfare (00:42:13) Lessons from the Gaza Contingency (00:44:44) Challenges in Defense Venture Capital (00:47:36) The Importance of Responsible Parties in Defense (00:51:06) Industrial Capacity and Defense Investments (00:53:49) Lessons from US Defense Primes (00:59:48) Supply and Demand in Defense Markets (01:07:34) The Role of Net-Centric Warfare (01:10:33) Hopes and Fears for the Future of Kinetic Warfare (01:14:42) The Kindest Thing Anyone Ever Did For Darren

Welcome to this classic episode. Classics are my favorite episodes from the past 10 years published once a month. These are N of one conversations with N of one people. This is a rare opportunity to hear from one of the best investors of the past decade—Josh Kushner, founder and managing partner of venture firm, Thrive Capital. Josh started Thrive in 2010 and launched its first institutional fund in 2011. That first institutional fund was $40 million and, in it, Thrive led Warby Parker's Series A, invested in Instagram, and incubated a business, which Josh co-founded, called Oscar. Their portfolio is stage agnostic and their track record includes many of the best known businesses from the past decade, including Spotify, Unity, Stripe, and Twitch among many more. Please enjoy my great conversation with Josh Kushner. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by WorkOS. WorkOS is a developer platform that enables SaaS companies to quickly add enterprise features to their applications. With a single API, developers can implement essential enterprise capabilities that typically require months of engineering work. By handling the complex infrastructure of enterprise features, WorkOS allows developers to focus on their core product while meeting the security and compliance requirements of Fortune 500 companies. Visit WorkOS.com to Transform your application into an enterprise-ready solution in minutes, not months. ----- This episode is brought to you by Passthrough. Passthrough streamlines subscription documents, KYC, and AML compliance, so you can focus on running your fund, not managing paperwork. New SEC Update 31 CFR hits investment firms in under a year, and managers are getting ready for it now. If you think basic OFAC screening is enough, think again. You'll need continuous monitoring of your investors and all their beneficial owners across multiple watchlists, plus a comprehensive anti money laundering program. Passthrough has already processed 50,000 LPs and built the complete solution. Don't risk SEC deficiency letters, fines, or regulatory enforcement. Visit passthrough.com to get compliant now. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Follow us on Twitter: @patrick_oshag | @JoinColossus Show Notes (00:00:00) Welcome to Invest Like the Best (00:05:14) Why do this podcast (00:08:14) The development of taste and quality  (00:12:20) CS Lewis tweet; The Inner Ring (00:18:14) Overview the founding story of Oscar Health (00:25:18) Learning to identify good problems and creating a business to solve it (00:27:43) The birth story of Thrive Capital (00:32:14) Lessons learned from creating the first three Thrive funds (00:39:44) Talent, recruiting and seeing potential in younger generations of people (00:47:40) Investments he made during the early foundation of Thrive that had significant impact (00:51:12) His analogy for investing in early versus late stage and styles of real estate investing (00:56:22) The current macro environment (01:00:57) Why he sold small stakes of Thrive (01:05:10) His philosophy on what makes a good product (01:10:10) His absence from crypto and why he refrained during the boom in 2021 (01:12:33) Thoughts about the opportunity set in FinTech today writ large (01:15:39) Lessons learned from his time spent with Marc Andreessen (01:17:43) Lessons learned from Stan Druckenmiller, Henry Kravis, and David Geffen (01:22:09) Firm values he thinks are very important (01:31:15) Vision as a key ingredient for founders (01:34:19) His view of the investment industry in the world today writ large  (01:44:48) The kindest thing anyone has ever done for him

The Bulletproof Dental Podcast Episode 387 HOSTS: Dr. Peter Boulden and Dr. Craig Spodak GUEST: Randy Smith DESCRIPTION Financial expert Randy joins Craig and Peter to discuss wealth management essentials, covering investment mindsets, asset allocation, and market differences. They emphasize developing saving habits, overcoming investment fears, and the importance of financial education. The conversation explores diversification strategies, economic forecasts, and emotional aspects of investing, which are particularly relevant for dental professionals seeking long-term financial success. TAKEAWAYS Investing like the rich is about knowledge. Don't lose your capital; that's rule number one. The wealthy invest in multiple asset classes. Cash can be a good investment in a downturn. Diversification is key to financial stability. Private equity often outperforms public markets. The habit of saving is crucial for financial success. Investing is not just about stocks; it's broader. Fear keeps many from investing at all. Most people struggle with financial habits and savings. Recessions are a normal part of the economic cycle. Investing should be approached with a long-term mindset. Emotional drivers can negatively impact investment decisions. Every dollar invested works like an employee for you. Building wealth requires consistent and disciplined investing. Having a clear financial roadmap is essential for success. CHAPTERS 00:00 Introduction to Financial Wisdom 02:50 Understanding the Investment Strategies of the Wealthy 06:08 The Importance of Specific Knowledge in Investing 08:57 Asset Allocation and Diversification Explained 11:48 Private Equity vs. Public Markets 15:02 The Role of Cash and Risk Management 18:06 Overcoming Investment Fears 25:35 The Importance of Financial Habits 30:06 Investing Basics and Diversification 35:33 Market Trends and Predictions 40:04 Building Wealth Through Consistent Investing REFERENCES Bulletproof Summit Bulletproof Mastermind  

My guest today is Gili Raanan. Gili is the founder of Cyberstarts, a VC firm focused on cybersecurity and the world's first VC that is majorly backed by cyber entrepreneurs. Cyberstarts' $50 million dollar first fund exploded to close to $2 billion in just three years. Gili describes cybersecurity today as "the perfect storm" where global conflicts and AI advancements are creating unprecedented threats. He talks about Cyberstarts' "Sunrise" methodology, which uniquely identifies customer pain points before building solutions. We discuss a focus on finding resilient talent, overcoming personal adversity, the evolution of the cybersecurity landscape, and Google's recent acquisition of Wiz, as Cyberstarts was one of Wiz's earliest investors. Please enjoy my discussion with Gili Raanan. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:52) AI's Impact on Cybersecurity (00:07:51) Offensive and Defensive Tactics (00:09:32) The Future of Cybersecurity (00:15:42) The First Fund: A Legendary Success (00:17:36) Building a Successful Cybersecurity Company (00:28:24) The Sunrise Methodology (00:31:58) Reversing the Startup Process (00:32:53) The Sunrise Methodology (00:33:17) Identifying Market Pain Points (00:34:57) The Importance of Customer Actions (00:36:58) From Conversations to Software Development (00:38:57) The Role of Simulations in Startup Success (00:40:12) Fundraising and Valuation Strategies (00:42:08) Pricing and Market Dynamics (00:46:16) The Value of Superpowers in Founders (00:50:10) Google's Acquisition of Wiz (01:07:24) Personal Resilience and Tragedy (01:10:30) Future of Cybersecurity and AI (01:12:25) The Kindest Thing Anyone Has Done For Gili

Why This Episode Is a Must-Watch Real estate investing is one of the most powerful wealth-building tools available, and this episode of Inspired Money dives deep into how you can leverage rental properties to build long-term wealth. Whether you're just starting out or looking to expand your portfolio, this episode offers valuable insights and actionable strategies to help you succeed in today's market. Meet the Expert Panelists Kathy Fettke is a real estate investor, educator, and co-founder of RealWealth, where she helps investors build passive income through smart real estate strategies. She is the author of Retire Rich with Rentals and co-author of Scaling Smart: How to Design a Self-Managing Business, as well as the host of the popular podcasts The Real Wealth Show and Real Estate News for Investors. Jason Hartman is a real estate investor, entrepreneur, and CEO of Empowered Investor, specializing in helping people build wealth through income property investments across the United States. As the host of the Creating Wealth Podcast and a sought-after speaker, he educates investors on market cycles, financing strategies, and long-term wealth-building through his Complete Solution for Real Estate Investors™ system. Michael Albaum is a real estate investor, educator, and founder of MyFI Academy, specializing in long-distance rental investing and financial independence. He is also the co-founder of Bold Street AI, providing data-driven insights for smarter real estate investments, and the host of The Remote Investor podcast, where he shares expert advice on building wealth through real estate. Starting as a fire protection engineer, Michael built a portfolio of 61+ units using strategies like BRRRR and turnkey investing, helping others achieve financial freedom through informed decision-making. Monick Halm is a real estate investor, syndicator, and founder of Real Estate Investor Goddesses, a community dedicated to helping women build wealth through real estate. With over 20 years of experience and $350 million in real estate transactions, she is the bestselling author of The Real Estate Investor Goddess Handbook and Invest Like a Goddess, as well as a TEDx speaker and host of the Real Estate Investor Goddesses Podcast. Key Highlights: Understanding Market Indicators Kathy Fettke emphasizes the importance of investing in growth areas with strong population and job increases. She states, "You want to be in areas that are growing... You need so much more information than just a pro forma." Leverage and Inflation Jason Hartman explains how inflation can be a hidden benefit for real estate investors, noting that "inflation basically pays our debt down for us" by allowing us to pay back loans with weaker future dollars. Creative Financing Options Monick Halm discusses various financing strategies beyond traditional loans, including debt service coverage and non-qualified mortgages, making real estate investing accessible even for those who may not qualify for traditional bank loans. The Power of Partnerships Michael Albaum highlights the significance of partnerships and syndications, encouraging investors to collaborate and leverage shared resources to achieve financial freedom and expand their portfolios. Call-to-Action Find one potential rental market that interests you and start researching. Look at job growth, population trends, and rental demand. Even if you're not ready to invest today, building your market knowledge will help you spot the right opportunities when they come. Share your findings with us on LinkedIn! Find the Inspired Money channel on YouTube or listen to Inspired Money in your favorite podcast player. Andy Wang, Host/Producer of Inspired Money

My guest today is Alex Wiltschko. Alex is the founder and CEO of Osmo, a science and technology company giving computers a sense of smell. He set out on a mission to digitize our sense of smell and he describes how Osmo is teaching computers to both read and write scent. Alex was kind enough to walk me through the laboratory which you can watch in the video version of this interview on Youtube and Spotify, where he demonstrates their method to the madness. We discuss their first commercial application, Generation, which is revolutionizing the fragrance industry by dramatically accelerating the typically years-long process of custom scent creation. We discuss all of the potential business implications this technology unlocks, applications ranging from counterfeit detection to health monitoring, and creating a cutting-edge proprietary platform in a historically routine industry. Please enjoy my conversation with Alex Wiltschko. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:04:25) Introduction to Plum 1.0 (00:06:20) Synthetic Chemistry & OI (00:07:09) Perfumer's Organ & Fragrance Creation (00:08:03) Launching Generation Fragrance House (00:09:15) The Fragrance Design Process (00:12:04) AI and Olfactory Intelligence (00:14:59) The GCMS Machine (00:22:08) The Scent Printer (00:26:47) The Journey of a Fragrance Enthusiast (00:30:47) The Unsolved Problem of Scent (00:32:45) Applying AI to the World of Scent (00:33:17) Validating AI Predictions with Double-Blind Trials (00:39:42) The Emotional Power of Scent (00:49:01) Challenges & Future Prospects (00:59:08) The Defining Moment: Digitizing Smell (01:00:41) The Kindest Thing Anyone Has Ever Done For Alex

Invest Like the Best: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- My guest today is Kelly Granat. Kelly is the Co-Chief Investment Officer and Managing Director at Lone Pine Capital, one of the most storied and successful hedge fund and investment firms of the last several decades. We explore how investing has evolved since Kelly joined the industry and she shares insights into Lone Pine maintaining its edge through deep fundamental research and a collaborative culture. We discuss what makes great businesses and great investments, how leadership can transform companies, and Kelly's perspective on evaluating management teams and identifying opportunities around corporate change that the market often misprices. Please enjoy my conversation with Kelly Granat. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn About Ramp, Alphasense, & Ridgeline (00:06:09) Market Structure Evolution (00:08:39)The Impact of Passive Investing (00:10:21) Collaboration & Team Dynamics (00:13:48) Excitement in Periods of Extreme Change (00:14:21) The Role of Competition & Curiosity (00:22:00) Fundamental Research & Data Integration (00:27:34) Investment Philosophy (00:35:31) People-Centric Investing (00:42:24) Succession Planning (00:49:32) Facing the Pressure of Early Success (00:50:31) Burnout & Rediscovery (00:57:08) Learning from Industry Leaders (00:58:04) Evaluating Talent and Competition (01:11:29) Lessons in Investment (01:27:27) The Kindest Thing Anyone Has Ever Done For Kelly 

We are having a fun conversation about investing with bliss, what it means to Iinvest in a feminine way, and the upcoming Invest Like a Woman Event happening this week - December 5-7!

In this exciting episode of Getting Real with Monick Halm, we welcome Amanda Williams, also known as The Traveling Realtor—a global real estate professional, investor, and powerhouse entrepreneur. Amanda has built an incredible real estate career while traveling the world, and today, she shares how she did it.Together, Monick and Amanda dive into her journey from being a busy, hands-on real estate agent to creating a location-independent business, leveraging short-term rentals, international connections, and cutting-edge AI technology.✅ How Amanda Became the Traveling Realtor: The pivotal moment that inspired her to create a business that allowed her to travel freely.✅ The Power of EXP Realty for Location Independence: How EXP Realty helps real estate agents work remotely, scale globally, and create passive income streams.✅ Using AI for Real Estate Success: How Amanda automates marketing, content creation, and even personal health tracking using AI-powered tools.✅ The Reality of Real Estate Investing: Real talk about challenges like unexpected expenses, bad tenants, and how to overcome them.✅ Niching Down for Business Growth: Why defining your ideal client and crafting a clear message is crucial for success.✅ The Importance of Community & Women in Real Estate: How women can step into financial empowerment and take charge of their wealth-building journey.Amanda also shares exciting details about her upcoming projects (stay tuned!) and insider tips for navigating today's real estate market with confidence.✨ Connect with Amanda Williams:

My guest today is Kelly Granat. Kelly is the Co-Chief Investment Officer and Managing Director at Lone Pine Capital, one of the most storied and successful hedge fund and investment firms of the last several decades. We explore how investing has evolved since Kelly joined the industry and she shares insights into Lone Pine maintaining its edge through deep fundamental research and a collaborative culture. We discuss what makes great businesses and great investments, how leadership can transform companies, and Kelly's perspective on evaluating management teams and identifying opportunities around corporate change that the market often misprices. Please enjoy my conversation with Kelly Granat. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn About Ramp, Alphasense, & Ridgeline (00:06:09) Market Structure Evolution (00:08:39)The Impact of Passive Investing (00:10:21) Collaboration & Team Dynamics (00:13:48) Excitement in Periods of Extreme Change (00:14:21) The Role of Competition & Curiosity (00:22:00) Fundamental Research & Data Integration (00:27:34) Investment Philosophy (00:35:31) People-Centric Investing (00:42:24) Succession Planning (00:49:32) Facing the Pressure of Early Success (00:50:31) Burnout & Rediscovery (00:57:08) Learning from Industry Leaders (00:58:04) Evaluating Talent and Competition (01:11:29) Lessons in Investment (01:27:27) The Kindest Thing Anyone Has Ever Done For Kelly 

Devon Zuegel: How To Create A New Town - [Invest Like the Best, EP.413] My guest today is Devon Zuegel. Devon is the founder and president of the Esmerelda Institute, and she is creating a new town called Esmerelda in California wine country. Learning of Devon and her plan, I couldn't help but wonder why there aren't more people building new towns. She shares the origin story of her project Esmeralda, a modern reinvention of the Chautauqua community she cherished growing up, and we explore her fascinating work building communities and reimaging how we live together. We discuss how environments fundamentally shape human behavior, how cost of space impacts creativity, the financial challenges of town-building despite their potential for strong returns, and the plans in place for Esmerelda. Please enjoy this fascinating conversation with Devon Zuegel.  Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn About Ramp, Ridgeline, & Alphasense (00:06:00) The Origin of Devon's Obsession with Places (00:08:07) Proximity and Cost of Space (00:10:02) The Chautauqua Inspiration (00:11:31) Building a New Town: Esmeralda (00:13:23) Urban Design and Street Importance (00:15:44) Community Values and Peer-to-Peer Learning (00:18:15) Edge Esmeralda: A Prototype Community (00:21:38) Challenges and Trust Building in Development (00:26:45) The Role of Cars in Urban Planning (00:31:10) Mortgages and Taxes: Shaping Communities (00:42:11) Devon's Journey: From Stanford Review to Esmeralda (00:43:41) Tools for Thought and Feedback Loops (00:46:33) Urban Design and Pop-Up Villages (00:50:06) Exploring Las Catalinas and Car-Free Living (00:52:31) Placemaking and Organic City Development (00:56:25) Frontier Camp and Creating Collaborative Spaces (01:02:39) Building New Towns: Financial and Infrastructure Challenges (01:12:05) The Kindest Thing Anyone Has Done For Devon

In today's Mebisode, Meb reads his latest paper, “Can We All Invest Like Yale?” ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). ----- The information set forth herein is for informational purposes only and does not constitute financial, investment, tax or legal advice. Please see the appropriate professional advisor for advice specific to your situation. There is no guarantee that a particular investment strategy will be successful. Opinions expressed herein are subject to change at any time. Past performance does not guarantee future results. All investments are subject to risks, including the risk of loss of principal.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this classic episode. Classics are my favorite episodes from the past 10 years published once a month. These are N of one conversations with N of one people. There's nobody I've met quite like Doug Leone. Doug led one of the world's most successful venture firms, Sequoia, for over 25 years after he was given responsibility for the firm by its founder, Don Valentine, in 1996. Alongside Mike Moritz, the pair managed its expansion from a single $150m early-stage fund into an $85 billion global powerhouse. It was a privilege to sit down with Doug and learn from him. We talk about his tough start at Sequoia, get into the technicalities of great go-to-market motions, and survey his advice for other investors in the industry. A key theme that will stick with me from this conversation is Doug's insistence on keeping things simple and clear. I listen to this at least once a year. I hope you enjoy it. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Passthrough. Passthrough streamlines subscription documents, KYC, and AML compliance, so you can focus on running your fund, not managing paperwork. New SEC Update 31 CFR hits investment firms in under a year, and managers are getting ready for it now. If you think basic OFAC screening is enough, think again. You'll need continuous monitoring of your investors and all their beneficial owners across multiple watchlists, plus a comprehensive anti money laundering program. Passthrough has already processed 50,000 LPs and built the complete solution. Don't risk SEC deficiency letters, fines, or regulatory enforcement. Visit passthrough.com to get compliant now. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. 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: @patrick_oshag | @JoinColossus Show Notes [00:00:00] Welcome to Invest Like the Best [00:05:21] What Don Valentine's heart was like [00:08:30] The most productive and unproductive parts of Don's toughness  [00:12:55] Why it's so important to understand someone's core motivations [00:18:44] The most formative experiences he had prior to becoming an investor that impacted his investing the most  [00:22:37] What venture looks like to him today relative to his prior career [00:28:37] Whether or not he'd go into venture today if he was in his late 20s  [00:34:10] Helping companies circumnavigate mediocre positioning  [00:39:15] How interacting with companies early on has changed over the ears [00:43:12] Whether or not new entrants into venture should build firms with enterprise value  [00:48:14] Sussing out the killer gene in somebody  [00:51:04] How successful people can instill the lessons learned from hardship into their children  [00:54:30] Whether or not competitive advantage can be architected ahead of time when building a company   [00:57:21] The early 2000s clawback at Sequoia and what navigating that period was like  [01:01:06] What he's learned about picking the right LPs and partnering with them [01:04:18] Making sure that performance is on everyone's minds all the time  [01:09:59] The kindest thing anyone has ever done for him

My guest today is Chris Pedregal. Chris is the founder and CEO of Granola, an AI-powered notepad that transcribes your meetings and enhances your meeting notes. Chris shares fascinating insights on how humans have historically developed tools to extend our cognitive capabilities - from writing and mathematical notation to data visualization - and how AI represents the next frontier in this evolution. We explore competitive dynamics between model providers and application builders, and Chris shares his vision for AI tools that make us "more human and better humans" rather than replacing human altogether. Our conversation covers the product philosophy behind Granola, the challenges of building in the fast-moving AI space, and how small teams are creating outsized impact in this new paradigm. Please enjoy my conversation with Chris Pedregal. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn About Ramp, Ridgeline, & AlphaSense (00:05:41) Historical Examples of Tools for Thought (00:06:55) The Impact of AI on Tools for Thought (00:09:08) Introducing Granola: AI-Powered Notetaking (00:10:10) Granola's Unique Approach to AI Notetaking (00:13:33) User Experiences and Future Vision (00:15:40) Privacy and Social Norms in AI Recording (00:20:47) Building Granola: Challenges and Innovations (00:34:55) AI Startups and Granola's Early Adoption (00:35:40) Unexpected Feedback from High-Profile CEOs (00:39:53) Building Better and Faster in a Competitive Space (00:42:09) The Future of AI-Powered Workspaces (00:54:00) Challenges and Opportunities in AI and Education (00:56:03) The Evolution of App Development (00:58:01) The Potential of Small Teams in Big Businesses

My guest today is Ravi Gupta. Ravi is a Partner at Sequoia Capital and a host on Glue Guys, a podcast on the Colossus network that intersects business and sports. I wanted to have him back on Invest Like the Best to discuss his recent most recent blog post titled “AI or Die.” As both an investor and former Instacart operator and CFO, Ravi believes we're entering an era where the constraints that historically limited small teams are dissolving, creating unprecedented opportunities for those willing to embrace change aggressively. We discuss why traditional metrics of corporate success like headcount and process adherence may become liabilities, what it means to be a world-class reactor vs predictor, and how "magic per employee" and organizational agility will emerge as crucial measures of value creation. Please enjoy my conversation with Ravi Gupta. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).  Show Notes: (00:00:00) Learn About Ramp, Ridgeline, & Alphasense (00:06:00) Introduction to 'AI or Die' Essay (00:06:29) Initial Reactions to AI Advancements (00:08:24) The Concept of 'AI or Die' (00:10:40) Adapting to Rapid Technological Change (00:12:02) Using AI for Real Work (00:13:58) Evaluating Company Agility and AI Integration (00:18:58) The Cost of Employees in the AI Era (00:25:36) AI's Impact on Business Strategy (00:36:55) Changing Perspectives on AI Models (00:37:50) The Importance of Context in AI (00:39:09) Optimism in the Age of AI (00:40:22) Predictors vs. Reactors (00:42:54) AI Tools in Business Operations (00:46:07) The Future of Small Teams and Efficiency (00:49:01) Investing in the AI Era (00:55:11) The Role of Board Members in AI Adoption (00:57:22) Embracing Change with Humility (00:59:17) The Ghost of Competition (01:05:04) Seizing the AI Opportunity

My guest today is Marc Andreessen. Marc is a co-founder of Andreessen Horowitz and one of Silicon Valley's most influential figures. He combines deep technical knowledge from his engineering background with broad historical understanding and strategic thinking about societal patterns. He last joined me on Invest Like the Best in 2021, and the playing field looks a lot different today. Marc goes deep on the seismic shifts reshaping technology and geopolitics. We discuss DeepSeek's open-source AI and what it means for the technological rivalry between America and China, his perspective on the evolution of power structures, and the transformation of the venture capital industry as a whole. Please enjoy my conversation with Marc Andreessen. Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn about Ramp, Ridgeline, & Alphasense (00:06:00) Introduction to DeepSeek's R1 (00:07:24) DeepSeek's Global Impact (00:09:25) AI's Ubiquity and Future (00:10:36) Winners and Losers in the AI Race (00:14:22) The New AI Cold War (00:16:34) China's Technological Ambitions (00:21:31) Open Source and Intellectual Property (00:27:48) The Role of Open Source in AI Development (00:30:02) National Interests vs. Global Competition (00:37:25) The Future of Capital Allocation (00:45:41) Challenges of Sustaining Private Partnerships (00:46:34) Building a Franchise Business (00:48:27) The Role of Political Operations (00:50:51) The Dynamics of Power and Elites (01:01:44) Technological Change and Its Implications (01:13:37) The Future of Robotics and Supply Chains (01:21:09) American Dynamism and Defense Technology

My guest today is Graham Duncan. This conversation will make you think about your life in new ways. This is a two-hour segment of a 4.5-hour interview I did with Graham last year. It stands alone as remarkable, but those who subscribe to Colossus Review will gain access to the full conversation. This will be true in future issues, too. In 2006, in his early 30s, Graham convinced Stuart Miller, CEO of home construction company Lennar, to let him manage $50 million of his family's wealth. A year later, Miller gave him the rest of his capital outside of Lennar. That investment turned into East Rock, where Graham built an incredible investing track record managing billions for a select group of families by focusing on people. Our conversation explores a wide range of topics—from what makes a great investment partnership to the power of positive feedback loops to starting a restaurant. I'm thankful to Graham for showing me the way so many times and for being willing to be so incredibly open in this conversation. Please enjoy this discussion with Graham Duncan.  Subscribe to Colossus Review. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learn about Ramp, Ridgeline, & Alphasense (00:05:12) Intro to Graham (00:05:54) Launching Colossus Review (00:08:05) The Principal-Agent Dynamic (00:10:47) Navigating Financial Crises (00:13:22) The Right Grip in Investing (00:17:32) Seeding and Investment Strategies (00:21:37) Defining 'Commercial' and Its Implications (00:26:31) The Role of Laziness and Prolific Output (00:28:20) Finding the Right People and Positive Feedback Loops (00:37:21) Navigating Career Transitions and Motivations (00:43:05) Understanding Source Dynamics (00:50:07) Key Criteria for a Great CIO (00:59:43) Structuring Relationships with CIOs (01:03:40) Managing Ambiguity and Protecting Mental Clarity (01:15:09) The Importance of Source in Business (01:17:49) Designing Physical Spaces for Success (01:22:46) Launching a Restaurant: A Casting Exercise (01:30:17) Taking Over and Transforming Existing Ventures (01:33:08) Macro Investing and Adaptability (01:36:06) Hierarchy of Investment Mastery (01:44:10) The Art of Referencing (01:52:08) Formative Experiences and Personal Growth (02:00:12) Building a Business and Taking Risks (02:07:46) The Origin of East Rock

My guest today is Blake Hall. Blake is the co-founder and CEO of ID.me, a secure digital identity network with over 100 million members. He was an officer in the United States Army and served our country for four years as a a rifle platoon leader, the battalion reconnaissance platoon leader, and as the battalion logistics officer. We explore his formative years in the military and transition into entrepreneurship. Blake shares powerful stories from his time leading scout sniper missions in Iraq, including how his unit achieved a 90% success rate in high-stakes operations through relentless preparation and learning. He shares the origin and evolution of ID.me, a company dedicated to verifying digital identities to combat fraud and simplify login experiences. We also discuss the role of identity in the modern economy, frameworks for building company culture, and evaluation of executive talent. I am ridiculously inspired by Blake, and I am so grateful for him and all of the Americans who serve our country. Please enjoy this discussion with the brave and courageous Blake Hall.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Alphasense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –  This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com to learn more about the platform. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Learna bout Ramp, Alphasense, and Ridgeline (00:07:48) First Combat Experiences (00:09:30) Leadership and Responsibility in Combat (00:13:28) Lessons in Leadership and Grit (00:18:32) The Importance of Credibility and Skill (00:22:05) A Defining Moment of Leadership (00:28:52) Transition to Civilian Life and Founding ID.me (00:50:27) Understanding Identity Through Time (00:51:08) Telecom Networks and Bad Actors (00:52:38) Moving Away from Passwords (00:54:13) The Trust Graph and Source of Truth (00:57:25) Digital Wallets and Government IDs (01:07:11) Challenges and Security in Digital Identity (01:21:36) Leadership and Company Culture (01:33:53) The Kindest Thing Anyone Has Ever Done for Blake