Podcasts about Pe

Episode #151 of The Grant Mitt Podcast. Your Outer World is a Reflection of Your Inner World. Available on Apple, Spotify, and Youtube. For those of you who don't know me, my name is Grant Mitt. I'm an entrepreneur & investor who built an 8-figure residential solar company. I also help businesses, PE firms, and Family offices scale. If you're a business owner who's looking for growth. I started a Mastermind group that offers one-on-one guidance, weekly group meetings, training, and networking with other business owners. To apply, book a quick call at www.grantmittconsulting.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Esta semana fue oficialmente Ciary Week.Analizamos lo último que ocurrió al cierre de la semana con la Secretaria de la Vivienda Ciary Pérez Peña, la defensa pública de la gobernadora, el referido del DTOP a Justicia y las contradicciones en la narrativa oficial. Desmenuzamos la carta de multas al taller, quiénes estuvieron en la reunión de transacción que bajó la cantidad a $25,000 y cómo se reabrió el centro de inspección luego de ese encuentro.También hablamos del contrato de los centros y si ahí realmente está la raíz de todo este revolú.En el chit chat discutimos el arresto de un integrante de la juventud del MVC por pedofilia y lo que eso implica políticamente.Y sí… hablamos del hermano de Ciary, pero sólo en el Patreon.Descarga la canción de Ciary y otros éxitos de DJ San Ghibli en https://open.spotify.com/artist/501D5ir53CTV41z0NYjm94Esta semana fue oficialmente Ciary Week.Analizamos lo último que ocurrió al cierre de la semana con la Secretaria de la Vivienda Ciary Pérez Peña, la defensa pública de la gobernadora, el referido del DTOP a Justicia y las contradicciones en la narrativa oficial. Desmenuzamos la carta de multas al taller, quiénes estuvieron en la reunión de transacción que bajó la cantidad a $25,000 y cómo se reabrió el centro de inspección luego de ese encuentro.También hablamos del contrato de los centros y si ahí realmente está la raíz de todo este revolú.En el chit chat discutimos el arresto de un integrante de la juventud del MVC por pedofilia y lo que eso implica políticamente.Y sí… hablamos del hermano de Ciary, pero sólo en el Patreon.Descarga la canción de Ciary y otros éxitos de DJ San Ghibli en https://open.spotify.com/artist/501D5ir53CTV41z0NYjm94-

Ever stalled on a “dream build” because you're afraid to mess it up? We went straight at those fear targets—perfectionism, PE jitters, bare‑metal dread, and the myth that pros are “just fast”—and came back with practical fixes that make the bench fun again. Kicked off by a wave of listener mail, we connect the dots between honest expectations and real skill barriers, then show how to shrink both: build your favorite subject twice (one OOB as recon, one for the opus), keep something always in paint to protect your airbrush touch, and use smart crutches—canopy masks, 3D prints, and layered decals—so your craft effort lands where it matters.Community kept shaping the journey. From clubs that outlive geography to vendor‑table conversations that compress months of trial and error, we heard how connection turns paralysis into progress. One modeler finally tackled a family B‑17 after years of hesitation and discovered the power of “a hundred little builds,” learning new techniques while honoring a story that mattered. Another shifted from failed journals to a public build log that doubles as a searchable memory. Along the way we swapped tips for taming CA, tested custom decals (plus an opacity workaround), and compared wet vs. dry color shifts on new AK Real Colors. Yes, we even found a French marine catapult and may have paid for it twice—worth it.Bench reports? The Hellcat is decaled and heading into gloss, the long‑parked T‑33 is back on the rails, and Moosaroo is heating up with a vignette twist and custom markings from a boutique printer. If you've been avoiding your favorite subject, this is your permission slip to jump: make a plan that fits your time, turn one big build into guided sprints, and let technology erase the chores that steal your mojo. Hit play, then tell us: what's the one fear you're finally tackling this month? If this resonated, subscribe, share with a modeling friend, and leave a quick review so more builders find the show.Model Paint SolutionsYour source for Harder & Steenbeck Airbrushes and David Union Power ToolsSQUADRON Adding to the stash since 1968Model PodcastsPlease check out the other pods in the modelsphere!Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Give us your Feedback!Rate the Show!Support the Show!PatreonBuy Me a BeerPaypalBump Riffs Graciously Provided by Ed BarothAd Reads Generously Provided by Bob "The Voice of Bob" BairMike and Kentucky Dave thank each and everyone of you for participating on this journey with us.

Ralph welcomes, Robert Weissman co-president of Public Citizen, to discuss his Senate testimony about the many ways the Trump Administration's assault on fraud is itself fraudulent. Plus, Ralph informs us of a report from Aljazeera about the MK-84 weapon the IDF is using in Gaza that is designed to generate so much heat it literally vaporizes people.Robert Weissman is a staunch public interest advocate and activist, as well as an expert on a wide variety of issues ranging from corporate accountability and government transparency, to trade and globalization, to economic and regulatory policy. As the president of Public Citizen, he has spearheaded the effort to loosen the chokehold corporations and the wealthy have over our democracy.Every American should be worried about fraud. So it's fine for the committee to be talking about fraud, but it should be based on actual facts and what's actually happening, which is not what's going on with this focus on Minnesota… And without a doubt, if the concern is about fraud in the public or the private economy right now, the number one problem with fraud is the Trump administration.Robert WeissmanThanks to the Supreme Court decision on Presidential immunity, Trump believes (correctly) that he will not be held criminally accountable for anything that he does while he's President. And that is true so long as that Supreme Court decision stands. And I think it's fair to say that basically everyone who's working for him right now—who I think are committing all kinds of crimes, including through the sale of pardons and through the outrageous use of ICE in Minnesota and around the country—I think they expect they're going to get pardoned before he goes. So I think they think they too will be (and they're probably not wrong in expecting it) that they too will be immune from criminal prosecution (at least federal criminal prosecution) for any crimes they commit while they're in the administration.Robert WeissmanIn Case You Haven't Heard with Francesco DeSantisNews 2/13/26* Our top stories this week concern the Jeffrey Epstein case. According to POLITICO, Democratic Congressman Ro Khanna, who, along with Republican Congressman Thomas Massie has led the charge to release the Epstein files, “took to the House floor Tuesday and read aloud the names of six ‘wealthy, powerful men' whose names were originally redacted,” in the files. These names include billionaire Victoria's Secret owner Leslie Wexner, Emirati shipping magnate Sultan Ahmed Bin Sulayem, and Italian politician Nicola Caputo, among other more mysterious figures like Salvatore Nuara and Leonic Leonov. Khanna used congressional representatives' unique power under the speech and debate clause to make these names public, after combing through the files personally along with Rep. Massie. Khanna added “if we found six men that they were hiding in two hours, imagine how many men they are covering up for in those 3 million files.”* Speaking of hiding names in the files, Axios reports that Representative Jamie Raskin stated that “when he searched President Trump's name in the unredacted Epstein files… it came up ‘more than a million times.'” The implication of this statement is clear: Trump's cronies in the Justice Department are covering up the extent of Trump's relationship and involvement with Jeffrey Epstein. Another member of the administration, Commerce Secretary Howard Lutnick, admitted under Senate questioning that he had lunch with Epstein on his island, along with his family, claiming he “could not recall” why they did. The administration is allowing members of Congress to view the unredacted files within certain hours via a database they describe as confusing, unreliable, and clunky.* Another surprising revelation from the files is that House Minority Leader Hakeem Jeffries apparently solicited campaign donations from Epstein back in 2013. According to MSN, Epstein received a campaign solicitation via email from a fundraising firm touting Jeffries as “one of the rising stars in the New York Congressional delegation,” and offering Epstein “an opportunity to get to know Hakeem better.” Jeffries denies having any knowledge of this firm's outreach to Epstein and decried House Oversight Committee Chairman James Comer's implication that he had any relationship with the late sexual predator and financier, calling Comer a “stone cold liar” and a “malignant clown.”* In non-Epstein related news from Capitol Hill, last week lawmakers held a hearing to probe the operations of autonomous taxi service Waymo. While Republicans chose to focus on Waymo's supposed ties to Chinese companies, Senator Ed Markey of Massachusetts grilled the chief safety officer, Mauricio Peña, on the company's reliance on workers abroad for key safety decisions. Peña admitted that while some operators are located in the US, others – who step in when robotaxis encounter “unusual situations” – work remotely from the Philippines. Markey called this “completely unacceptable,” emphasizing that these workers may need to react “in a split second” during dangerous scenarios. Waymo is just the latest company marketing its services as high tech and autonomous, but later revealed to be reliant on cheap foreign labor. This from Business Insider.* ICE lawlessness continues to roil Congress. Many Democrats are now sounding the alarm that Trump's immigration police – masked, armed, accountable directly to him and backed to the hilt by the administration – could be used as a tool to suppress voter turnout by conducting raids at or near polling locations, thereby scaring citizens into staying home. Senator Chris Murphy of Connecticut said “Trump is trying to create a pretext to rig the election.” Murphy, along with some Senate Democratic allies, pushed leadership to demand that ICE be banned from polling sites as a condition of government shutdown negotiations, but leadership balked, per POLITICO. While such a scenario can sound far-fetched, Trump has “falsely and repeatedly claimed for more than a decade that millions of illegal immigrants vote in the U.S., arguing that was one factor in his 2020 loss,” and, just before the 2020 election, he pledged to send “sheriffs” and “law enforcement” to polling places.* Drop Site News' Jacqueline Sweet reports 70 organizations, Jewish, Christian, Muslim, Hindu, and Unitarian, as well as civil rights, academic, legal, peace, and human rights groups, submitted a formal request to the National Security Division of the Justice Department seeking a “Foreign Agents Registration Act (FARA) investigation into Canary Mission.” Canary Mission is a shadowy, infamous group that tracks pro-Palestine activity on college campuses. In 2018, they appeared at the George Washington University wearing spooky masks in an attempt to intimidate the student government into voting down a BDS resolution. They failed. This latest letter comes on the heels of a Drop Site story from January that “showed among other things that Canary is operated in Israel by a large Israeli team.” As the letter notes, the Foreign Agent Registration Act “exists precisely to address this type of potential activity carried out in the United States for the benefit of a foreign country.”* In more news regarding pro-Palestine activism, last week, six defendants linked to Palestine Action, a direct action protest group in the United Kingdom, were acquitted of aggravated burglary in connection with an alleged break in at Elbit Systems, a defense firm with close ties to the Israeli military, in August 2024. The persecution of Palestine Action has gone far beyond normal law enforcement. Some activists have been in pre-trial detention for over 500 days, more than double the maximum limit set by the Crown Prosecution Service. The case of the Palestine Action protestors has drawn outcry from international human rights groups, including the United Nations and Human Rights Watch. As HRW notes, in July of last year, the British government declared Palestine Action a terrorist organization and have now detained over 2,700 protestors over infractions as minor as holding a sign reading “I oppose genocide, I support Palestine Action.” As of now, over 20 activists are still in detention awaiting trial, many beyond the legal limits, and the six acquitted activists may face retrial. But for now, the group has scored a major victory in the face of overwhelming odds.* Turning back to domestic news, New York Governor Kathy Hochul appears to have pulled off a fait accompli in her reelection campaign. Last year, former Representative Elise Stefanik dropped her bid for the Republican gubernatorial nomination and sitting Rep. Mike Lawler declined to run. Now, Hochul's main primary opponent – Lieutenant Governor Antonio Delgado – has dropped his bid after Hochul secured the endorsements of New York City Mayor and political superstar Zohran Mamdani as well as the entirety of the New York Democratic congressional delegation. This from the New York Times. This is a stunning political feat for a Governor who won the narrowest gubernatorial election in the state since 1994 when she was last up in 2022. It now seems that Hochul will square off against Bruce Blakeman, the Trump-endorsed Republican executive of Nassau County in November.* Meanwhile in Los Angeles, the dynamic of the Mayoral race was upended this week by the last-minute decision of Councilmember Nithya Raman to throw her hat into the ring against incumbent Mayor Karen Bass. Raman, an urban planner by trade, chairs the Council's Housing and Homelessness Committee and has “built her political identity around tenant protections, homelessness policy and efforts to accelerate housing production,” per the Los Angeles Daily News. Raman was the first of several Councilmembers elected with DSA support and she has maintained a strong relationship with the local branch despite tensions with the national organization, primarily over Israel/Palestine issues. Bass, who won a narrow election against billionaire developer Rick Caruso in 2022, has faced harsh criticism over her handling of the devastating fires in 2025 and her inability to make significant progress on the city's homelessness crisis. However, Bass maintains the support of much of the city's Democratic establishment, including the unions and much of the City Council and Raman's late entry will make it difficult for her to consolidate majority support across the sprawling western metropolis.* Finally, in a David-and-Goliath tale, we turn to TJ Sabula, the UAW Local 600 Ford factory line worker who called Trump a “pedophile protector.” Infamously, the president retorted by giving Sabula the finger and mouthing, “F--- you.” Ironically, Trump also trotted out his iconic catchphrase “You're fired.” Well, Sabula was not fired – and in fact “has no discipline on his record,” – because he was protected by his union, per the Detroit News. In a recent address, UAW Vice President Laura Dickerson said “TJ, we got your back,” adding “In that moment, we saw what the president really thinks about working people…As UAW members, we speak truth to power. We don't just protect rights, we exercise them.” UAW President Shawn Fain, who has emerged as a firebrand leader of the revitalized labor movement, commented “That's a union brother who spoke up…He put his constitutional rights to work. He put his union rights to work.”This has been Francesco DeSantis, with In Case You Haven't Heard. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

Analyze That 53. Cătălin Striblea a fost live cu principalele subiecte ale zilei. Bătălia pentru procurori. Pe cine vrea grupararea Savonea. Pe cine reprezintă AUR. Cum a ajuns AUR partidul oligarhilor. Trump dă înapoi în Minnesota. Cum a jucat Nicușor dosarul Groenlanda.

14/02/2026 - Verbum, a Palavra de DeusMeditação da Palavra do Senhor com o Pe. Márcio Damião

Milena Wiśniewska i Michał Dziwisz omawiają najważniejsze wydarzenia z pogranicza telewizji, radia i streamingu. W audycji mowa o obchodach 100-lecia Gdyni i retransmisji widowiska „Zaczęło się od morza” w Polsacie, a także o wiosennych premierach TVN – nowych sezonach „Mam talent” i „Zdrajców” oraz transmisji gali Bestsellerów Empiku. Prowadzący przyglądają się również nowemu formatowi wywiadów w Belsacie, startowi odświeżonej platformy streamingowej Polskiego Radia z podcastami i transmisjami na żywo z brakiem jej dostępności w tle oraz radiowym nowościom i konkursom antenowym. Pełna audycja z warstwą muzyczną dostępna jest w archiwum Radia DHT, istnieje również automatycznie wygenerowana tekstowa wersja odcinka.

1. DTOP confirma estación de inspección de la secretaria de la Vivienda, Ciary Pérez Peña procesó transacciones fraudulentas y se ordenó su cierre. 2. Gobernadora firma controversial proyecto que tipifica como asesinato la muerte del concebido no nacido 3. Confirmado: aumentan los referidos por maltrato de menores 4. Llegó la fecha límite para que el gobierno le justifique a la junta el “reintegro reintegrable” y el chequesito sigue en el limbo 5. Siguen las controversias sobre el propuesto proyecto de la gobernadora sobre los vehículos todoterreno. No hay seguros para esos vehículos. 6. Demócratas respaldan paridad en fondos de Medicaid. ¿Y los republicanos? 7. Gobierno de Trump anuncia la retirada de ICE de Minnesota. 8. Sin acuerdo en el Congreso sobre el presupuesto de ICE y el Departamento de Seguridad Nacional 9. Donald Trump “borra” las conclusiones cientificas sobre el daño a la salud que el cambio climático ocasiona 10. Jueves de películas y streaming con Gabriela Acevedo GándaraSee omnystudio.com/listener for privacy information.

Investors have short memories—until the talk of a “bubble” resurfaces. We take investors on a quick trip down memory lane, discussing the infamous dot-com bubble of the late ‘90s and early 2000s, as well as the housing bubbled that appeared a few years later. These bubbles were fueled by sky-high optimism and wild speculation about transformative technologies. In the dot-com era, investors rushed into any company with a “.com” at the end of its name, confident the internet would change the world. But not all of these companies survived. The lesson is that when a game-changing technology new technology appears, you still have to do your due diligence to come out on top. [bctt tweet="AI stocks are the new #investing gold rush…but are you panning for gold or about to hit a bust? I break down the REAL risks of betting big on #tech giants—and why most #investors miss what matters in a bubble" username="wellensscott"] The Age of AI: Bubble or Breakthrough? The “Magnificent Seven” (Google, Meta/Facebook, Apple, Amazon, Nvidia, Tesla, and Microsoft) are pouring billions into AI. Their 2025 returns, as catalogued by Scott Wellands, were impressive, with the group averaging over 20%, outperforming the S&P 500. Yet, such meteoric rises echo the euphoria of past bubbles. But excitement alone doesn't make a bubble—overvaluation does. Valuation: How Expensive is Too Expensive? A key measure is the price-to-earnings (P/E) ratio, a classic way to judge if a company's stock price is justified by its profits. Take Tesla, for example: at the end of 2025, it traded at roughly $450 per share but earned only $1.50 per share, putting its P/E near 304. Compared to Toyota's P/E of about 10, that's nosebleed territory. The S&P 500's long-term average P/E sits around 20—a point of reference emphasizing just how stretched AI-heavy stocks may be. The Magnificent Seven's average P/E now hovers around 68, more than triple the broader market's historic average and well above the S&P's “other 493” companies. While high valuations don't guarantee a crash, they signal that expectations are sky-high and that disappointment could be costly. Picking Winners, Dodging Losers You can't invest in AI itself; you invest in companies riding the AI wave. History shows many won't make it. That's why betting everything on a few horses is extremely risky, even if their role in AI seems promising today. Over-concentration lurks as a hidden threat. If you own a standard S&P 500 index fund, 35% of your portfolio sits in the Magnificent Seven. For tech-heavy indices like the Nasdaq, that figure climbs to 54%. A stumble for these stars—already started in early 2025—can spell big trouble for portfolios tied too closely to their fortunes. [bctt tweet="No one has a crystal ball for the next #AI bubble—but family stewards can stack the odds. I reveal three ways to build #wealth using AI safely—and why a diversified #portfolio is your family's best hope for lasting wealth" username="wellensscott"] The Case for Global Diversification So how can investors harness AI's upside without exposing themselves to catastrophic risk? In a portfolio spanning thousands of companies worldwide across different sectors and asset classes, your exposure to the Magnificent Seven (and thus to AI) drops to about 20%. This cushions your wealth from the fallout if today's leaders falter and gives you a stake in the next wave of winners, wherever they arise.

#epstein #vivienda #marbetes Identificamos a uno de los principales conocedores de cómo se comportó Ciary Pérez Peña, secretaria de Vivienda cuando cogieron negocio familiar trucando con los marbetes. | Epstein le saca lo peor a la secretaria del Departamento de Justicia de Estados Unidos y está en la lista de los que el Partido Demócrata dice deben ser procesados por encubrimiento. ¡Conéctate, comenta y comparte! #periodismoindependiente #periodismodigital #periodismoinvestigativo Síguenos en nuestras redes sociales: tiktok.com: https://x.com/Bonita_Radio Facebook: https://www.facebook.com/bonitaradio/ Instagram: https://www.instagram.com/bonitaradio/ X: https://x.com/Bonita_Radio

El embajador de Colombia en Estados Unidos, Daniel García-Peña, protagonizó un gesto cargado de simbolismo político al repartir flores colombianas en los alrededores del Capitolio, en Washington, en el marco de la celebración del Día de San Valentín.

Fukaj wrócił z świetną płytą "Znajdź mnie w tym". Jak wygląda jego historia? Co zmienił stream Maty, który go wybił? Jak wygląda współpraca z artystami takimi jak: Vito, Livka, Bambi, Zalia, Kasia Lins, czy wcześniej Mata i Quebo. Dlaczego tato popłakał się przy jednej z piosenek Fukaja? Zabiorę Cię tam [Vito Bambino] to wielki hit zeszłego roku, ale nowa płyta przyniosła kolejne świetne utwory: Wszystko znika przy Tobie, Pełnia, czy Pierwszy Raz. Zapraszam na jedyny taki wywiad, bardzo szczerą rozmowę z Fukajem. Karol Paciorek / ImponderabiliaWeź udział w konkursie Masz AXE, masz AURĘhttps://www.promocjeunilever.pl/axefukaj[współpraca reklamowa z AXE]https://www.instagram.com/karolpaciorek/

欢迎收听雪球出品的财经有深度,雪球,国内领先的集投资交流交易一体的综合财富管理平台,聪明的投资者都在这里。今天分享的内容叫如何与优秀公司长期同行？以瑞普生物为例讲讲我的筛股标准（下）,来自天下哀霜。今天咱们继续昨天筛股的话题，看看一些其他的筛股维度。7.公司管理层能力与人品如何？暂时来说，我觉得都还挺不错。能力上，李守军这个团队能连续在不同赛道都做出很好的成绩，足够证明了。我这里讲个小故事，天津新闻写的，说李守军几年前有次开会的时候，给南开大学计算机系某知名教授递纸条，问怎么看A I的发展。该教授从理论实践角度出发，认为A I为时尚早，而李守军则坚定地从企业发展角度出发，认为A I是未来，要大胆拥抱未来。后来瑞普确实是，非常早的就拥抱了A I。这个故事天津新闻是想衬托李守军眼光上的独特，我后来多次听李守军的各种讲话，嗯，他的眼光与意识确实很好，我个人很赞同。而人品，瑞普早期也有过一些财务上不规范，但看起来都还是小问题。这几次关联收购，不管是以五十亿估值收瑞派的股权，还是一亿多收中瑞股权，亦或零元收瑞合股权，给股东感觉还是非常有诚意。然后数据披露信息披露上，我一直都没发现有瞒报误报。也只是在给指引预期时，经常乐观过头，但是一般都会迅速在下一个季报财报的时候及时修正，也就还好。当然，身为小股东，时刻观察警惕大股东动向，评判大股东的公德，建立拉黑机制，这是长期价投的基本要求了。8.公司的安全边际与未来潜能如何？投资第一件事，是保证本金的安全，而本金的安全，就必须要学会拆解和分析目标公司的安全边际和估值压力在哪里。在充分了解安全边际后，我们再稍微乐观展望公司未来潜能，评估我们这笔投资的收益有机会落在哪个区间。以瑞普为例，瑞普的核心业务，分为三块：第一大块是经济类动物健康服务，这是瑞普业务与现金流的基石，其中禽类业务又是基石中的基石。所谓基石，就是不能出问题的，最好未来几年都能稳定的存在。当前经济类动保行业状态并不乐观，主要是行业本身内卷加剧，价格战持续，加上养殖业并不太景气所以降本增效需求很高，因此防疫上的支出在努力缩减导致动保行业定价权在逐步丢失。但是瑞普在这里，凸显了足够的韧性与护城河优势，以至于以前有不少人怀疑瑞普财务造假，因为其他友商都被养殖周期所拖累，为何瑞普主业持续稳定上升没看到影响？因为瑞普在禽类赛道的全生态体系打法一旦建立，护城河就会随着时间越来越加固。它是真正意义的，把自己目标和客户目标合二为一了：帮客户做好健康防疫同时降本增效。瑞普是这个赛道里每年监测和检测做的最多的选手，也是主动培训下游客户最多的选手，没有之一。所以在不打价格战依然市占率攀升同时，二零二五年禽类赛道瑞普依然实现了双位数的上升。猪这里持续承压，但如果自己的猪腹泻m R N A落地，市场增量就会很大，加上行业的非洲猪瘟进展不错，它通过和科前与华中农业的合作也很有机会分一杯纯增量的羹。反刍这几年都是100%以上增长，只是基础还比较低，暂时也就千万级营收，但未来可期。从纯安全边际来说，这块业务这几年依然能保证3亿到4亿的利润，乐观的话，未来很有机会5亿起步。按安全边际，15到20倍的P E可以给60亿的估值。按乐观推算，80亿加的估值。第二大块是宠物业务的健康服务，这是瑞普布局了十几年正在逐步落地的，当前最强成长引擎业务。这部分业务又可以拆成三部分：自研宠物疫苗药品，瑞派股权以及中瑞供应链业务。自研宠物疫苗药品当前压箱底的是喵瑞舒，这两年都是两百万头份销量四千万营收附近，它定价二十元一头份，在国产里价格偏高。瑞普自己希望随着供应链业务的渗透，和国产替代降价后疫苗率的进一步渗透，瑞普能占据六百万头份的市场规模。驱虫药业务随着内驱妙普净和外驱莫普欣，以及犬类超比欣的落地，今年增长非常快。然后新上的麻醉剂，干扰素也是千万级爆品，在随着各类益生菌保健产品的推出，宠物医药这里矩阵效应和品牌效应初具规模。按指引和新的电话交流会，二零二五年宠物自研药品是八千万加的营收规模，增速在40%以上，二六年增速应该会继续保持。这部分毛利率50%加，净利率估计30%附近。考虑高增速，可以给30以上P E，预期估值参考给10亿。公司自己的期望是这部分业务中短期做到两亿的规模，长期看，往5亿走。考虑到猫传腹m R N A疫苗在申请临床，猫四联，犬四联都在推进，再加上还有些炎症相关全球创新药业务，我个人其实是希望有机会看到这部分营收过10亿的，但这太远，先不考虑估值。瑞派股权这里，瑞普目前占了13%，I P O前最后一次股权相关交易瑞派的估值是按70亿附近算的，对应瑞普部分大概是9亿多。I P O后瑞普股权自然会被稀释，估计到10%，瑞派估值应该在一百亿相对合理，所以瑞派这部分，就是9到10亿附近合理价位。如果瑞派I P O能成，借助上市的扶持，瑞派全国的扩张与海外初步扩张都有了强力支撑，这对瑞普的战略价值会更深远。对瑞普来说，瑞派一是提供了最直接医药销售终端的保障，二是瑞派的各种宠物病例，为瑞普的医药研发提供了最直接的样本支持和数据支持。这种战略联动，是很难直接量化的。中瑞供应链在二五年继续维持了40%以上高增速，营收规模达到了9到10亿的级别，目前全国覆盖率渗透率大概是35%。这部分业务目前也是潜在战略价值远大于直接经济价值，因为它的毛利率15%多，当前属于大投入阶段，净利润估计在3%附近。公司的中期目标是两三年内把供应链营收做到二十亿，相信供应链业务稳定后，净利润率应该能大于5%，未来有机会为集团贡献一到两亿左右利润。不过公司只占中瑞60%的股份（加上派瑞部分的间接持股正好60%），所以说，单纯净利润贡献并不会太大。但是这其实是瑞普宠物业务未来最主要护城河之一，因为中瑞目标是打造全国第一，甚至具备全球影响力的纯粹宠物医疗供应链，它能接触这个行业几乎所有优质同行选手，也能即使掌握行业最新最全的动向，对瑞普的自研业务来说，它就不单单是纯粹的渠道本身了。不过考虑安全边际，我认为供应链业务，暂时算3亿估值差不多把。潜能的话，未来给个10亿也不是问题。加起来，宠物业务的安全边际，三项加起来保守算，20亿是没问题的。我不信给其他公司20亿的资金，他们能就做得起来瑞普宠物业务现在的程度。第三大块是合成生物业务，我们可以当做纯期权业务，先预期给零。当前它主要是两项，一是上市公司100%持股，和中科院合作的菌丝蛋白，投资近7亿，预期明年年中能开始产出。公司自己整了个财务模型：一年13亿营收，25%的税后净利润。如果符合公司预期，那就是增加3亿多净利润，考虑合成生物的成长属性，那60亿估值很合理吧。不过我们目前当这部分为零，等公司产品信息披露更多再说。二是瑞普和中科院天津工业生物技术研究所的合作骨化二醇项目，今年1月已经产品落地了。这部分放在了瑞合，是维生素的高端升级产品，国内市场主要在花园生物，估计对瑞普是几千万级别的产品，但胜在毛利率高。合成生物业务整体，其实并不是p p t了。国内在政策上也在不断推进，二零二五年11月，中国卫健委正式批准威尼斯镰刀菌为新食品原料，这标志着国内菌丝蛋白商业化进入了实质性的准入期。这意味着瑞普的菌丝蛋白在政策上的不确定性也消除了不少。不过我们保守嘛，保守就是先给零。于是合起来算，经济动物60亿加宠物20亿加合成生物零等于80亿。当前股价19，对应市值88亿，也就是说，顶多一个跌停，就是最保守的安全边际。哦，其实还有一个小版块，是出海，我没提。实际上二五年瑞普的海外增速大概是100%，但大部分是原料药业务，毛利率低，不给估值合理。然后毛利率高的药剂，出海目前5000万规模，也是100%单独增速，未来公司想把药剂出海拉高到两亿起步。不管怎样，我们先保守不给预期。至于潜能，稍微乐观状态，经济类动物做到5亿利润，宠物做到两亿利润，合成生物真的做到3亿，利润加一起是10亿，给20这样的成长股P E，两百亿市值是可以预期的。更乐观我就不写了，做梦可以随便做。于是边际80亿托底，上限先看一百五十到两百亿，这笔投资，我选择跟。9.身为股东，我们日常该如何关注公司变化？作为成长型公司，我们最应该关注的，是逻辑预期落地后的实际成绩。瑞普这只股最性感的地方，是战略联动，所以我们要优先看它战略联动的效果是真实的，还是虚伪的。比如说，宠物供应链的扩张，必然要带动自营宠物医药业务的放量，可能会有点滞后性，但趋势一定要在。所以我们每个财报出来，都优先算下供应链业务增速和自营医药业务增速的关系，看逻辑合不合理。单以二零二五年的数据，二者增速大概都会落在40%加，合理。再比如，瑞普的宠物产品矩阵效应，品牌效应是否是真实增长的，我们可以多关注电商平台瑞普旗舰店的销量变化，和榜单排名，看看线上业务的发展到底如何。目前来说，天猫淘宝，京东，抖音，拼多多等渠道在宠物行业整体市占率约为29%，9%，9%与10%。最好追的，还是天猫和京东。我个人没事就进去转转，至少从天猫的销量来看，放量增长迹象还是很好的。对了，我身在美国，但我们家两只猫的驱虫药，现在全部是从瑞普京东旗舰店下单的内驱外驱组合，让朋友家人从国内带过来，算是小股东尽的绵薄之力，而且我感觉驱虫效果确实很好。再就是我之前一直提的，国家兽药基础数据库，生产批号与签批次数等数据，全部一目了然，完全可以作为生产端景气程度的一个直接参照。如果各位股东所在城市还有瑞派连锁，家里也养宠物，那就更可以尝试去瑞派当个付费会员，体验下瑞派在宠物诊疗上到底服务能力和专业能力如何了。近期还可以重点关注下瑞派港股I P O进展。把以上部分做好，瑞普宠物业务的发展趋势，基本就都在各位股东的眼皮底下清晰了然了。其实做到这部分调研就够了，如果精力在旺盛又对人家经济动保有担心，那就再多关注下养殖行业的每周价格数据，以及兽药原料药的价格数据。除此外，瑞普自己有很多社交账号会不断发布公司新闻和视频，天津保税区也时常报道瑞普的宠物业务和合成生物业务的动向。如果大家搞了这么多，还是精力充沛，那就再多关注下m R N A等瑞普正在突破的技术平台的再学术界和商业界的验证，以此预判瑞普成功的难度，和商业化的潜力。 相信大家这么多方式跟踪下来，对公司就只会越来越熟悉。而熟悉，就是能长期拿的最关键条件之一。10.小结简而言之，就是守正出奇，如同瑞普这种可以靠经济动物业务稳定现金流并确立80亿安全边际，又可以靠宠物生态布局与合成生物期权博取一百五十到两百亿上行空间的股，他就是我想长期持有的优质标的。我并没那么在乎当前需要熬的时间成本，我只在乎我的调研，能否及时修正和改进我的投资模型与逻辑，为我这笔投资增加更多的确定性。

Today we're recording from South Bersted Primary School at lunchtime on the final day of the spring term. I'm here with Lewis as we reflect on what's been a busy and eventful six-week half term. From nurture sessions and SEND family sessions to PE, play days, and large group coaching, Lewis has experienced it all. We'll be talking about the biggest learning curves, the importance of predictability, managing expectations, and what it really takes to grow as a coach. Because in this job, does probation ever really end?

#epstein #vivienda #marbetes Identificamos a uno de los principales conocedores de cómo se comportó Ciary Pérez Peña, secretaria de Vivienda cuando cogieron negocio familiar trucando con los marbetes. | Epstein le saca lo peor a la secretaria del Departamento de Justicia de Estados Unidos y está en la lista de los que el Partido Demócrata dice deben ser procesados por encubrimiento. ¡Conéctate, comenta y comparte! #periodismoindependiente #periodismodigital #periodismoinvestigativo Síguenos en nuestras redes sociales: tiktok.com: https://x.com/Bonita_Radio Facebook: https://www.facebook.com/bonitaradio/ Instagram: https://www.instagram.com/bonitaradio/ X: https://x.com/Bonita_Radio

Não é incomum nos sentirmos desnorteados, sem direção. Se você conhece a Deus e tem uma relacionamento com ele, nao precisa sentir-se assim, pois pode pedir a ele que te oriente, que mostre qual caminho deve seguir. O Senhor nos orienta através de sua Palavra, a Bíblia. Você pode pedir ao Senhor que o oriente e precisa ler a Bíblia, pois ele a usará para responder à sua oração. Nao fique desnorteado, busque ao Senhor, leia a Palavra, ele te dirigirá. Peça orientação ao Senhor, ele não o deixará sem direção.

Cataluña: 5 heridos graves por vientos, remiten restricciones. Borrasca Oriana trae vientos, lluvia y nieve; Andalucía activa alertas, Júcar (Cuenca) se desborda. Polémica UE: reunión sin España, considerada minar principios. Cumbre oficial aborda competitividad. Ábalos y Koldo García ante el Supremo por caso Mascarillas; sus peticiones son rechazadas. Médicos españoles inician huelga de cinco días (lunes), con paros hasta junio, exigiendo mejoras laborales por falta de negociación. En Grazalema, evacuación por riesgo de acuífero moviliza solidaridad vecinal; hosteleros y chefs organizan ayuda para más de 500 desplazados. Día Mundial de la Radio destaca su cercanía y compañía. Oyentes rememoran noticias históricas escuchadas. Misterios de la nobleza española: Duque de Alba (pacta con la muerte), Condesa de Peñalbert (baños de sangre), maldición del Marquesado de Valdeflores (tierras usurpadas), espejo del Conde de Gálvez (muestra futuro). Se investigan los kipus incas, cuerdas ...

Care sunt așteptările de la conferința de securitate de la Munchen, unde participă și președinta Maia Sandu, dar și ce au însemnat primele 100 de zile de activitate a guvernului economistului Alexandru Munteanu, într-o discuție cu invitatul de astăzi, analistul politic de la Chișinău Nicolae Negru. Un interviu realizat de Valeria Vițu. Temele ediției: - Un conflict religios care testează reacția instituțiilor statului de drept. Conflictul din satul Dereneu, unde clerici ai bisericii ruse au agresat poliția și au intrat cu forța în biserica mitropoliei Basarabiei, subordonată Patriarhiei române continuă să rămână în atenția publică. Corespondenții noștri din nordul Republicii Moldova au fost în localitate. Un reportaj semnat de Cătălin Volconovici și Denis Chirtoca. - Regiunea separatistă Transnistria nu trebuie să fie o piatră moară de gâtul Republicii Moldova, încearcă să spună Guvernul de la Chișinău. Așa că vrea să decupleze integrarea Transnistriei în teritoriul Republica Moldova de integrarea Republicii Moldova în UE. Care sunt planurile? Ne explică Vitalie Cojocari în „Cronica lui Vitalie”. - În România, președintele Nicușor Dan trebuie să recupereze ce a pierdut până acum pe plan extern. Președintele român nu merge la conferința de la Munchen. Totuși, apetitul său pentru afaceri externe trebuie să crească în perioada următoare, spune la RFI analistul politic Radu Magdin, într-o discuție cu Andreea Pietroșel. - Portul Constanța din România preia Portul Internațional Giurgiulești de pe Dunăre, singurul port al Republicii Moldova. - Comisia Europeană a prezentat un plan de acțiune privind combaterea dronelor, planul conturează și perspectiva unei cooperări cu Republica Moldova. - Parlamentul European pune la punct un mecanism prin care sprijină direct Parlamentul de la Chișinău în negocierile tehnice de aderare la UE. Știrile zilei: Parlamentul European sprijină direct Parlamentul Republicii Moldova pe toate capitolele de negociere cu UE, a anunțat europarlamentarul Siegfried Mureșan, după ședința de ieri de la Strasbourg a Delegației pentru relațiile cu Republica Moldova. Pentru fiecare cluster de negociere vor exista unul sau mai mulți europarlamentari responsabili, cu experiență în domeniu, care vor lucra direct cu omologii lor din Parlamentul de la Chișinău. Scopul este sprijinul mai rapid și concret pentru transpunerea legislației europene și pregătirea aderării, spune Siegfried Mureșan. *** Comisia Europeană a prezentat un plan de acțiune privind securitatea dronelor și combaterea utilizării ostile a acestora. Planul conturează și perspectiva unei cooperări cu Republica Moldova, după multiplele incidente cu drone rusești căzute pe teritoriul țării. La Strasbourg, vicepreședintele executiv a Comisiei Europene, Henna Virkkunen, și comisarii pentru afaceri interne și transporturi au prezentat un plan axat pe patru piloni: pregătire, detectare, răspuns și consolidarea capacităților de apărare, transmite TVR Moldova. Comisarul pentru afaceri interne, Magnus Brunner, a anunțat că, în acest an, Comisia mobilizează 400 de milioane de euro pentru a sprijini statele membre în achiziția de drone și sisteme anti-dronă. La rândul său, Henna Virkkunen, vicepreședintele executiv al Comisiei Europene a precizat că Ucraina se află în centrul inițiativei, însă și Chișinăul este un partener apropiat. Relația de securitate dintre Uniunea Europeană și Republica Moldova este deja operațională. „Avem deja un centru de securitate împreună cu Moldova. Și am sprijinit Moldova în diferite tipuri de operațiuni hibride. Deci, aici ne uităm și la ce fel de domenii prioritare au partenerii noștri și cum am putea coopera și noi în acest sens”, a spus oficialul. Comisia intenționează să inițieze discuții cu autoritățile de la Chișinău pentru identificarea unor soluții tehnologice și de coordonare adaptate nevoilor Republicii Moldova. Pachetul de securitate pentru drone ar urma să fie pregătit în următoarele luni, iar un centru european de excelență în acest domeniu va fi lansat în 2027. *** Portul Constanța din România va prelua Portul Internațional Liber Giurgiulești de pe Dunăre, singurul port al Republicii Moldova, iar Banca Europeană pentru Reconstrucție și Dezvoltare, actualul acționar unic, se retrage. Banca Europeană pentru Reconstrucție și Dezvoltare (BERD) a anunțat joi, 12 februarie, că urmează să finalizeze vânzarea Danube Logistics, operatorul Portul Internațional Liber Giurgiulești, către Portul Constanța, deținut de statul român. „Tranzacția se va încheia în curând”, se arată într-un comunicat de presă emis de bancă, citat de Ziarul de Gardă. Portul Constanța se angajează să realizeze investiții semnificative pe termen lung în dezvoltarea în continuare a portului de pe Dunăre. Obiectivul strategic este de a-i extinde capacitatea, de a-i îmbunătăți infrastructura și de a-i consolida poziția în regiunea Mării Negre și în bazinul Dunării. Se preconizează că aceste investiții vor spori competitivitatea portului, vor consolida reziliența logistică a Moldovei și vor întări legăturile comerciale în întreaga regiune”, se arată în comunicatul de presă. Fiind principalul punct de acces maritim al Moldovei, Portul Giurgiulești gestionează peste 70 % din importurile și exporturile pe cale maritimă ale țării, „jucând un rol esențial în menținerea lanțurilor de aprovizionare și în sprijinirea stabilității economice”. „Rolul strategic al Portului Giurgiulești a crescut în regiune, acesta este bine poziționat pentru a servi reconstrucției viitoare a Ucrainei”, mai notează BERD. Pe lângă suma de 62 milioane dolari, care ar reprezenta doar prețul de preluare a Danube Logistics, Administația Porturilor Maritime Constanța s-a angajat prin ofertă să efectueze ulterior investiții de minimum 28 milioane de dolari în Portul Giurgiulești. *** Cinci persoane din Republica Moldova au fost trimise în judecată pentru organizarea migrației ilegale prin Moldova spre Uniunea Europeană a peste 100 de cetățeni ai Ucrainei apți de luptă, anunță Procuratura pentru Combaterea Criminalității Organizate de la Chișinău. Schema infracțională au fost pusă la punct încă la începutul agresiunii ruse în Ucraina în 2022. Ulterior schema, coordonată prin aplicația rusească Telegram, a luat amploare, iar achitările s-au făcut preponderent în criptomonede, cu o taxă între 4 și 10 mii de dolari. Inculpații sunt locuitori ai regiunii transnistrene, regiune separatistă necontrolată de autoritățile moldovene care era folosită pentru aducerea migranților ilegali. Ulterior, aceștia erau transportați la Chișinău sau în alte localități, de unde erau preluați de complici pentru tranzitarea frontierei spre România. Procurorii anunță că investigațiile penale continuă și în privința altor peste 50 de cauze penale din același dosar. *** În Republica Moldova se circulă în condiții de ceață densă pe mai multe drumuri naționale, iar vizibilitatea este redusă semnificativ, anunță autoritățile. Șoferii sunt îndemnați să manifeste prudență sporită în trafic.

"Good Luck, Have Fun, Don't Die" is a science fiction action-adventure comedy film directed by Gore Verbinski and written by Matthew Robinson. The film stars Sam Rockwell, Haley Lu Richardson, Michael Peña, Zazie Beetz, Asim Chaudhry, Tom Taylor, and Juno Temple. It tells the story of a man from the future who travels to the past and recruits the patrons of a Los Angeles diner he arrives in to help combat a rogue artificial intelligence. The film premiered at the 2025 Fantastic Fest, where it received positive reviews for its premise, performances, and Verbinski's direction on a smaller budget than what we're used to seeing from him. Verbinski, Rockwell, Lu Richardson, Peña, and Beetz were all kind enough to spend some time talking with us about their work and experience making the film, which you can listen to below. Please be sure to check out the film, which will open in theaters on February 13th from Briarcliff Entertainment. Thank you, and enjoy! Check out more on NextBestPicture.com Please subscribe on... Apple Podcasts - https://itunes.apple.com/us/podcast/negs-best-film-podcast/id1087678387?mt=2 Spotify - https://open.spotify.com/show/7IMIzpYehTqeUa1d9EC4jT YouTube - https://www.youtube.com/channel/UCWA7KiotcWmHiYYy6wJqwOw And be sure to help support us on Patreon for as little as $1 a month at https://www.patreon.com/NextBestPicture and listen to this podcast ad-free Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Boardroom Buzz, the Blue Collar Twins sit down with Gary Journeaux, founder of Competitive Pest Services (CPS) – the largest independent, 100% Australian‑owned pest company with national coverage and a 200% money‑back guarantee. Gary bought a tiny one‑man pest business at 24, with zero experience on the tools, and grew it into a 200‑person operation with teams across Australia and Myanmar, national commercial portfolios, and technicians who are some of the best paid in the industry. He did it without private equity, without big marketing budgets (zero AdWords for 5+ years), and without becoming “just another multinational.” Instead, he bet everything on customer experience, culture, and being the underdog that big clients actually like. You'll learn: How Gary went from ad-agency employee to buying a one‑man pest route at 24Why CPS is 95% commercial, 5% residential, and how that kills seasonality riskThe 200% money-back guarantee that forced competitors to copy himHow he scaled nationally (Australia + Myanmar) with no PE money and brutal cashflow constraintsWhy CPS pays techs top-of-market and still wins big national tendersHow “one tech, one child” and free work for Ronald McDonald House became recruiting superpowersWhy Gary is comfortable turning down multinationals and focused on doubling revenue by 2026 Ready for boardroom-level help with your own business? • Grow, sell, or exit your service company with Potomac: https://www.potomaccompany.com Connect with the hosts: • Blue Collar Twins – Jason & Jeremy Julio: https://bluecollartwins.com Connect with Paul: • Paul Giannamore – Managing Director & M&A advisor at Potomac: https://www.linkedin.com/in/paulgiannamore

What if the very thing people told you was “too much” about you was actually your greatest gift?In this soulful conversation, Wendy talks with Oneika Mays — meditation teacher, storyteller, and author — about what it really means to bet on yourself in midlife. Oneika shares how she moved from 20 years as a bookseller to teaching mindfulness (including groundbreaking work at Rikers Island), and how grief ultimately gave her the permission to pursue her lifelong dream of writing.At 54, Oneika is stepping fully into a creative life — with a debut book on the way and a TV pilot already winning awards. Her story is a powerful reminder that reinvention is not one bold leap, but a series of brave choices to trust yourself again and again.If you've ever been told you're “too much,” this episode is for you.What you'll hear in this episode

This week on the Mr. Throwback Thursday Podcast,we bring you a hip hop heart transplant, the return of the Juice Crew, PE honors female athletes, De La joins the good health summit, Bay Area legends prepare for the Superb Owl, C-Murder gets some bad news, and we bring you new music from L'TRIMM. What else? Let's listen. Heart of the Matter Hip Hop on Strings Juice Crew Returns They Got Game Mind, Body, and De La Soul   The Yay Area The Liks Baby No, They're Not Having It New School News  Wu Newsa. Who's Suing Who? b. S-U-P-ER-HE-RO-MAN One and Done – What the Hell   Record of the Week –  RZA “Bobby Digital Presents: Juice Crew” Artist of the Month – Domino Old to the New – TIGRA & SPNCR and L’TRIMM – “Guillotine” Bill Reads Lyrics Check us out on social media. Instagram: @mrthrowbackthursday | @bill_mr_tbtThreads: @mrthrowbackthursday | @bill_mr_tbtX (Twitter): @THE_Mr_TBT | @bill_mr_tbt Facebook: Mr. Throwback ThursdayYouTube: @mrtbt

Supercell's annual CEO blog post reads equal parts culture memo and a recruiting pitch. We break down what is behind the PR spin before zooming into Clash Royale's Lil Wayne halftime show as a case study in where “brand” ends and product-led fandom begins.From there, we triangulate the broader market: Newzoo's year-end PC/console recap as a reminder that attention is consolidating, not expanding; Roblox's growth story as it starts acknowledging gravity; and an update on Budge and PE as capital keeps rewriting the rules of what “good” looks like. We close by wishing the best to the team impacted by Riot's 2XKO layoffs.00:31 Podcast Overview and Today's Topics00:58 Market News: Roblox Earnings and More02:14 AI and Gaming Industry Insights03:25 Unity's Financial Struggles04:43 Community Engagement and Volunteering20:44 Game Industry Updates: Budge Studios Acquisition24:23 Roblox Q4 Earnings Analysis32:19 The Challenge of Monetizing Young Audiences32:33 Roblox's Strategy to Age Up33:02 Advertising Challenges for Under-18 Demographics33:26 Negative Margin Users on Roblox35:19 Upcoming Episode Teaser: Roblox's Algorithm Changes38:23 Supercell CEO's Annual Blog Post39:05 Clash Royale's Rebound and Marketing Strategies44:14 Squad Busters: A Postmortem44:54 Supercell's Future and Industry Insights49:01 The Role of PR in CEO Letters52:18 Supercell's Innovation vs. LiveOps Debate01:02:21 Conclusion and Final Thoughts

Omul care a dat Capitalei primul teatru nou construit în ultimii 80 de ani - Chris Simion – îi spune lui Mohai Morar cum poți învinge sistemul în timp ce lupți pentru viața ta!Pentru unii, Chris Simion este sinonimă cu Griviței 53. Primul teatru particular construit de la zero în Bucuresti din 1946! O realizare incredibilă, dacă ne gândim câte guverne și câți zeci de miniștri ai culturii au trecut în această perioadă fără sa aibă o realizare similară. O reușită care arată ce poate face determinarea dar și coeziunea, Griviței 53 fiind construit alături de 14.000 de bucureșteni, oameni simpli care au rezonat cu nevoile orașului lor și au donat pentru o nouă instituție de cultură.Însă în spatele acestui succes se află altul: povestea de viață a lui Chris, diagnosticată cu cancer. O boală pe care a învins-o. Iar atitudinea ei în lupta cu boala este cea mai frumoasă pildă pe care o putem urma toți, zi de zi. Pentru că povestea ei ne arată puterea pe care ne-o dau încrederea în bine, credința și dorința de a trăi!Omul care și-a vândut casa pentru a face artă fără compromis, care a ales să trăiască mai departe în timp ce lupta cu cancerul, ne propune acum un nou fel de a face cultură în România.Pe scena Fain & Simplu, Mihai Morar o prezintă pe Chris Simion în rolul propriei vieți: cum învingi cancerul în timp ce construiești un teatru, cărămidă cu cărămidă.

This episode is available in audio format on the Let's Talk Loyalty podcast and in video format on www.Loyalty.TV.In this episode we are delighted to interview Ben Stirling, an experienced commercial executive with a track record of scaling loyalty platforms, transforming sales organisation and delivering GTM strategies that drive acquisition and ARR growth. He has led commercial transformation at Expedia, Tenerity and Capillary, launched new solutions, expanded into international markets and delivered results across multiple sectors.He is currently a fractional CRO at TenX Strategy and supports PE-backed and enterprise firms in building predictable revenue systems and exit-ready growth. His impact includes scaling Tenerity's loyalty marketplace solution to acquisition in two years, providing loyalty solution to Santander, C&A, British Gas, TD Bank and Frontier, and growing commercial channels at Expedia that delivered $200M+ in new revenue.In this episode, Ben shares his proven insights on how to sell loyalty internally, from aligning feature sets to user needs, to securing C-suite backing with ROI models, and ultimately winning board-level buy-in by linking loyalty to long-term enterprise value. We'll also be learning about his favourite books and highlights and key learnings from the programmes he has worked on.Hosted by Charlie HillsShow Notes :1) Ben Stirling,2) TenX Strategy3) TenX Strategy - Budget Sign Off PDF4) Hooked- Book Recommendation5) The Road Less Stupid - Book Recommendation

So who's really driving this machine?Today's guest, Paul Gamble, PhD, has spent his career preparing elite and international athletes. But after years inside professional sport, he started asking an uncomfortable question: Are we developing better athletes—or just burning kids out earlier?In his book, Sport Parenting, Paul introduces the idea of the Sport Parent, a powerful, often invisible force shaping sport more than governing bodies, or even coaches. Whether you're a parent, a former youth athlete or someone who still has emotional scars from PE class, this conversation hits close to home.We're talking about early specialization, the rise of “premature professionalism,” why modern kids are actually becoming less athletic, and how well-meaning adults may be trading their kids' long-term confidence and love of movement for short-term results.This isn't an episode about blaming parents. It's about unpacking how a culture obsessed with performance turns play into pressure—and what it costs kids, sport and, ultimately, all of us.Subscribe to The Shakeout Podcast feed on Apple, Spotify, YouTube or wherever you find your podcasts.Follow Paul on social media @PaulGamblePHD and check out his book, Sport Parenting 

Mientras la señito que administra la oficina de la presidencia trataba de convencer a su decreciente público de que el desastre sanitario ocasionado por el sarampión, que ya no existía, es culpa de Fox, Calderón y Peña, en redes sociales estábamos hablando de otras tres cosas mucho más relevantes Un rarísimo y muy grave suceso al sur de Texas que parecía involucrar Narco Drones, el pleito familiar en el Narco Régimen evidenciado por un nuevo libro y la nueva calificación reprobatoria en corrupción que transparencia internacional le dio a México Por más que ella y su multimillonario aparato de propaganda tratan todos los días de imponer la agenda, la canija realidad se impone, un escándalo tras otro Yo te voy a platicar de estos tres sucesos de hoy, y de las consecuencias que pueden traer para México Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Expresidente convicto de la CEE y exjuez Rafael Ramos Sáenz, ,pide ser reinstalado al ejercicio de la abogacíaVictoria Ciudadana se une a “Pa La Calle contra Esencia” y exige nuevas vistas públicasPrimero fue Rivera Schatz, y horas después, la gobernadora pide que se investigue a su amiga y mano derecha, la actual secretaria de la Vivienda, Ciari Pérez Peña, involucrada en un escándalo de fraude.4.       Corrección y rehabilitación, Luma Energy, Acueductos y Educación son las agencias que más quejas acumulan por servicio, según la Oficina del Ombusdman5.       Miles de abonados se quedarán sin agua tras cierre temporero de CarraízoDepartamento de Justicia alerta sobre estafas cibernéticas románticasExplosión de tubería de la AAA agrava daños en Parcelas Suárez, en LoízaCenso apunta a que cada día somos menosInvestigación muestra 16 tendencias en el sector laboral en el 2026EE. UU. prepara el despliegue de un segundo portaaviones en Oriente Medio.EE.UU.: embargo a crudo venezolano "esencialmente terminó"Violentas protestas y tensión por la Reforma Laboral de MileiEste es un programa independiente y sindicalizado. Esto significa que este programa se produce de manera independiente, pero se transmite de manera sindicalizada, o sea, por las emisoras y cadenas de radio que son más fuertes en sus respectivas regiones. También se transmite por sus plataformas digitales, aplicaciones para dispositivos móviles y redes sociales. Estas emisoras de radio son:1.    Cadena WIAC - WYAC 930 AM Cabo Rojo- Mayagüez2.    Cadena WIAC – WISA 1390 AM Isabela3.    Cadena WIAC – WIAC 740 AM Área norte y zona metropolitana4.    WLRP 1460 AM Radio Raíces La voz del Pepino en San Sebastián5.    X61 – 610 AM en Patillas6.    X61 – 94.3 FM Patillas y todo el sureste7.    WPAB 550 AM - Ponce8.    ECO 93.1 FM – En todo Puerto Rico9.    WOQI 1020 AM – Radio Casa Pueblo desde Adjuntas10. Mundo Latino PR.com, la emisora web de música tropical y comentario Una vez sale del aire, el programa queda grabado y está disponible en las plataformas de podcasts tales como Spotify, Soundcloud, Apple Podcasts, Google Podcasts y otras plataformas https://anchor.fm/sandrarodriguezcotto También nos pueden seguir en:REDES SOCIALES:  Facebook, X (Twitter), Instagram, Threads, LinkedIn, Tumblr, TikTok BLOG:  En Blanco y Negro con Sandra http://enblancoynegromedia.blogspot.com  SUSCRIPCIÓN:Substack, plataforma de suscripción de prensa independientehttps://substack.com/@sandrarodriguezcotto OTROS MEDIOS DIGITALES: ¡Ey! Boricua, Revista Seguros. Revista Crónicas y otrosEstas son algunas de las noticias que tenemos hoy En Blanco y Negro con Sandra. 

Známý cukrář Josef Maršálek nám prozradil nejen perličky ze soutěže Peče celá země, ale i to, kde bere svou nekonečnou pozitivní energii a jaké hodnoty jsou pro něj zásadní.Host Josef Maršálek. Moderují Jana Peroutková a Kateřina Pantovič.

350 de artiști internaționali din 23 de țări au venit la Iași, până acum, prezentând 49 de concerte. Classix a găzduit 23 de paneluri, 193 de sesiuni de masterclass, 6 expoziții, 10 proiecții de scurtmetraje și a oferit 18 burse de creație. Festivalul este o bornă importantă în mișcarea culturală și a inovației artistice din România. Ce ne propune Classix Festival în ediția 2026, aflăm de la Patricia Brohanschi, de la Asociația Industrii Creative, Showberry. Așadar, din 2020, Classix Festival redefinește spațiul dedicat muzicii clasice prin interdisciplinaritate, folosind tehnologii noi și arte vizuale pentru a o face accesibilă publicului tânăr. Iar pentru tinerii artiști, poate fi un prim pas în recunoașterea talentului prin programul de burse. Programul de burse Classix in Art a atras un interes semnificativ la nivel național, reunind 28 de proiecte înscrise din orașe și regiuni diverse ale României. Propunerile primite au reflectat o varietate de abordări artistice și o maturizare vizibilă a discursului creativ, ceea ce a făcut ca procesul de selecție să fie unul atent și riguros, construit în jurul criteriilor de calitate artistică, coerență conceptuală și relevanță interdisciplinară. În urma selecției, au fost desemnați câștigătorii burselor Classix in Art 2026: Andrei Popovici (Iași) – Arte vizuale, Alina Tofan (București) – Artele spectacolului, Mariana Preda (Dâmbovița) – Muzică. În aceeași linie de susținere a tinerilor artiști și de deschidere a scenei festivalului către nume tinere, Classix a lansat castingul național pentru producția operei "Vulpița cea isteață" de Leoš Janáček. Spectacolul va fi realizat alături de ansamblul Classix Collective, sub conducerea dirijorală a norvegianului Kristoffer Wøien. Evenimentul va avea loc pe 7 martie 2026, în cadrul Classix Festival. În paralel cu aceste demersuri, programul concertistic al Classix Festival 2026 începe să se definitiveze, publicul putând descoperi deja o parte dintre titlurile care conturează direcția artistică a ediției, Art & Mind. Pe 2 martie, concertul Voces del Amor va avea loc la Casa de Cultură a Studenților, urmat pe 3 martie de Rhapsody in Motion, găzduit în aceeași locație. Pe 4 martie, publicul este invitat la Palatul Culturii pentru concertul Love Frequencies, iar pe 5 martie, In Between se va desfășura în Aula Bibliotecii Centrale Universitare „Mihai Eminescu”. Ziua de 7 martie aduce la Sala Unirii – Cinema Victoria atât spectacolul pentru copii Vulpița cea isteață, cât și concertul The Sound of Us. Ediția se va încheia pe 8 martie, cu concertul de gală La Bellezza, programat la Teatrul Național „Vasile Alecsandri” din Iași. Abonamentele generale și biletele la concerte, la prețuri reduse, sunt în continuare disponibile pe website-ul oficial al festivalului. Elevii și studenții beneficiază de o reducere de 50%. Organizatorii recomandă rezervarea din timp a accesului, întrucât concertele anunțate dispun de un număr limitat de locuri. 

Sportivii ruși nu au voie să participe la Jocurile Olimpice din acest an. Decizia vine după ce Rusia a invadat Ucraina. Cu toate acestea, unii sportivi au ajuns la probele din Italia. Au fost naturalizați de diferite state participante. De pildă, de Republica Moldova sau de România. Fenomenul naturalizării stârnește însă controverse. Detalii ne oferă Vitalie Cojocari în „Cronica lui Vitalie”. Temele ediției: - Conflictul din satul Dereneu, unde clerici ai bisericii ruse au agresat poliția și au intrat cu forța în biserica mitropoliei Basarabiei, subordonată Patriarhiei Române, continuă să rămână în atenția publică. Un conflict religios care testează reacția instituțiilor statului de drept. Valeria Vițu a urmărit subiectul. - Președinta Maia Sandu a vizitat autonomia găgăuză din sudul Republicii Moldova. Vizitele primilor persoane de la Chișinău s-au soldat în trecut ani cu proteste apropiate de violențe – în perioada în care autonomia era controlată de oligarhul Ilan Șor. De data aceasta, după ce autoritățile au destructurat rețeaua lui Șor, șefa statului a ținut un discurs la universitatea din Comrat cu sala plină, iar reacțiile sunt mai degrabă pozitive. Detalii, de la Liliana Barbăroșie. - Invitata Moldova Zoom este Veronica Garbuz, șefa Departamentului planificare și dezvoltare a întreprinderii de termoficare CET Nord, despre securitatea energetică a municipiului Bălți, despre cum consumatorii pot plăti de două ori mai puțin pentru facturile de energie și când se vor vedea investițiile în facturile oamenilor. - Președinta Maia Sandu și-a anunțat participarea la Conferința de Securitate de la München. - Premierul moldovean Alexandru Munteanu face o evaluare a primelor 100 de zile de mandat. - În Republica Moldova a fost înregistrată prima comunitate de energie din surse regenerabile. Știrile zilei: Președinta Maia Sandu, participă vineri și sâmbătă, 13-14 februarie, la Conferința de Securitate de la München, unul dintre cele mai importante forumuri internaționale dedicate securității globale. În marja conferinței, șefa statului moldovean va avea întrevederi bilaterale cu mai mulți omologi și oficiali de rang înalt, în cadrul cărora vor fi abordate subiecte ce țin de situația regională, cooperarea în domeniul securității și sprijinul pentru aderarea la Uniunea Europeană a Republicii Moldova, precum și pentru eforturile Republicii Moldova de a-și crește reziliența, anunță un comunicat al președinției.   Totodată, Maia Sandu va participa la un panel de discuții dedicat prevenirii și combaterii amenințărilor hibride, alături de prim-ministrul Regatului Suediei, Ulf Kristersson, președintele Serviciului Federal de Informații al Germaniei, Martin Jäger, și președintele Comitetului Militar al NATO, Giuseppe Cavo Dragone. În acest an, Conferința va reuni aproape 50 de șefi de stat și de guvern, precum și lideri ai principalelor organizații internaționale. Printre cei care au confirmat prezența sunt președinta Comisiei Europene, Ursula von der Leyen, cancelarul german Friedrich Merz, președintele Franței, Emmanuel Macron, premierul Poloniei, Donald Tusk, președintele Ucrainei Volodymyr Zelenskyy, președintele Lituaniei, Gitanas Nausėda, președintele Letoniei, Edgars Rinkēvičs, secretarul general al NATO, Mark Rutte, președinta Băncii Centrale Europene, Christine Lagarde, precum și președinta Băncii Europene de Investiții, Nadia Calviño. *** Premierul moldovean Alexandru Munteanu, declară, după primele 100 de zile de mandat, că Guvernul de la Chișinău acționează constant pentru a îndeplini 3 obiective majore – creșterea economică, accelerarea aderării la UE, pace și securitate acasă. Primele trei luni de mandat au marcat vizite externe în capitale importante, precum București, Bruxelles și Kiev. Economia Republicii Moldova dă semne de revigorare, spune premierul Munteanu. Dacă prognozele arătau o creștere de 2,2% pentru anul trecut, cifrele pentru 11 luni arată o creștere mai mare, de 2,7%. Inflația este în scădere, iar Banca Națională a Moldovei a redus repetat ratele de refinanțare. Tendința este susținută de o creștere bugetată cu 55 la sută a investițiilor pentru acest an. Procesul de integrare europeană avansează, Republica Moldova a deschis negocierile la nivel tehnic pentru 3 din cele 6 grupuri de capitole. Pe plan energetic, datorită interconectării cu piața europeană și cu România prin punerea în funcțiune în această vară a 4 linii electrice de tensiune joasă peste Prut, Republica Moldova a reușit să-și restabilească în câteva ore pana de curent națională de acum două săptămâni, când 70 la sută din țară a rămas fără electricitate din cauza bombardamentelor rusești în Ucraina. De asemenea, se lucrează la cele 3 linii de tensiune înaltă, interconexiuni cu România care vor asigura independența energetică deplină a Republicii Moldova. Guvernul coordonează proiecte de modernizare a infrastructurii, majoritatea din fonduri europene, atât în plan local, cât și la nivel de drumuri și infrastructură națională. Au fost lansate și consultări publice pentru pregătirea reformei administrației publice locale, una din cele mai ambițioase reforme ale acestui mandat, a mai spus premierul Alexandru Munteanu în raportul de activitate în primele 100 de zile. *** Prima comunitate de energie din surse regenerabile din Moldova a fost înregistrată în satul Cociulia, raionul Cantemir. Potrivit Agenției Naționale pentru Reglementare în Energetică, noua comunitate le va permite membrilor săi să producă, să consume, să stocheze și să partajeze energie electrică din surse regenerabile, transmite IPN. Comunitatea va funcționa pe principii de cooperare, oferind membrilor posibilitatea de a-și acoperi necesarul de curent prin producerea locală a energiei verzi. Entitatea a fost înscrisă oficial în Registrul comunităților de energie din surse regenerabile. *** Pentru prima dată după trei săptămâni de polei și ghețuș, circulația pe drumurile naționale se desfășoară în condiții bune în Republica Moldova. Autoritățile atenționează că, în nordul, centrul și sudul țării, pe alocuri, se înregistrează ceață, fenomen care poate reduce vizibilitatea și impune prudență sporită din partea conducătorilor auto. Odată cu încălzirea vremii, Inspectoratul pentru Situații de Urgență avertizează populația asupra pericolelor generate de instabilitatea stratului de gheață de pe râuri și lacuri. Deplasarea sau staționarea pe suprafețele acvatice înghețate poate deveni extrem de periculoasă, avertizează salvatorii.

Emily Bomberger, Vice President at Penn Spring Capital, shares her nontraditional path into private equity and the operating mindset she brings to evaluating founder-led businesses. She explains how early experiences in marketing, accounting, and PE-backed advisory work shaped her approach to judgment, value creation, and partnership with entrepreneurs. Emily also outlines what Penn Spring looks for in markets, founders, and focus—and why discipline matters more in tighter environments. This is a grounded conversation on learning fast, building trust, and making better investment decisions—worth your time. Episode Highlights 1:41 – Growing up in a small town and seeing firsthand how businesses shape communities 4:26 – Early operating exposure and learning how decisions flow through a business 7:35 – Working with first-time PE-backed companies during the critical first 100 days 10:57 – Why Penn Spring prioritizes focus, speed, and small deal teams 16:52 – Emily's scorecard for evaluating founder-led businesses and market tailwinds 19:24 – Why founder alignment and partial liquidity unlock the next growth phase 29:51 – The danger of scope creep and why doing fewer things better wins 35:59 – Warmth vs. competence in dealmaking—and why trust closes transactions For more information on Penn Spring Capital, go to https://pennspring.com/ For more information on Emily Bomberger, go to https://www.linkedin.com/in/emily-bomberger-1b243256/

#agencia #inspección #gobierno La secretaria del Departamento de la Vivienda, Ciary Pérez Peña, da su versión sobre Yabucoa Auto Services. | Ni Rivera Schatz sabe que la información sobre esa corporación ¡Conéctate, comenta y comparte! #periodismoindependiente #periodismodigital #periodismoinvestigativo Síguenos en nuestras redes sociales: tiktok.com: https://x.com/Bonita_Radio Facebook: / bonitaradio Instagram: / bonitaradio X: https://x.com/Bonita_Radio

Is your portfolio company's marketing dependent on a single person—or a scalable system? In my experience with Private Equity and mid-market acquisitions, I've seen that "leverage" is often the enemy of a clean exit. If your content creation process relies on one expensive agency or a single creative director, you don't have a system; you have a bottleneck.In this video, I'm breaking down my Commoditized Creativity framework—the exact system I've used to help businesses transitioning through PE acquisitions maintain high-level brand consistency across national territories.

In this installment of the Sell Side Master Class, Ryan and Mike break down deal structure, the terms behind the headline enterprise value and why structure can matter as much as (or more than) price. They walk through the most common components of consideration in IT services M&A: cash at close, earnouts, seller notes, and rollover equity, including where each can create upside and where hidden risk lives. Mike explains why earnouts often get an unfair reputation, what “good” earnout design looks like, and why indexing to revenue is typically safer than profit. They also cover how seller notes work (and why they're subordinated to bank debt), what rollover equity really means in a PE-backed deal, and the “often missed” lever of working capital, including how sellers can accidentally leave money on the table without the right guidance. Tune in as we talk Deal Structures 101.DEAL STRUCTURES WE DISCUSS:Cash at close: The portion of the purchase price you receive when the deal closes. In the episode, this is framed as the most straightforward form of consideration and the “baseline” sellers compare other components against.Earnout: A contingent payment you can earn after closing if the business hits agreed performance targets. Mike explains that earnouts often work best when they're indexed higher on the P&L (commonly revenue, sometimes gross margin) and structured with a “lane” or prorated payout range instead of an all-or-nothing cliff. Example from the episode's concept: if revenue lands within a defined band around the forecast, you receive a proportional earnout payout.Seller note: Seller financing where the seller effectively becomes a lender to the buyer for part of the purchase price. The transcript describes this as the seller “acting like the bank,” typically with interest, and notes that it is usually subordinated to senior bank debt. Example conceptually: you receive part of the price over time as principal plus interest rather than all at close.Rollover equity: The seller reinvests a portion of proceeds into the new ownership structure, keeping equity in the business post-transaction. In the episode, this is discussed as the “second bite of the apple,” often seen in PE-backed deals where the seller participates in future upside at a later liquidity event.Working capital adjustment: A structural mechanism that sets a working capital “target” at close and adjusts the seller's proceeds up or down depending on whether the company delivers more or less working capital than agreed. The transcript emphasizes this as an often-overlooked lever and discusses that many owners are overcapitalized, meaning working capital can meaningfully impact what the seller takes home if negotiated correctly.Mixing structures to optimize EV and share risk: The episode repeatedly frames structure as a way to balance risk between buyer and seller and sometimes increase headline enterprise value. Example concept: a buyer may offer a higher total value if some portion is contingent (earnout) or deferred (seller note) versus paying the entire amount in cash at close. OTHER EPISODES IN THIS SERIES:Part 1. Knowing When It's Time to Sell: Listen now >>Part 2. Get Your House in Order: Listen now >>Part 3. Valuation Drivers: Listen now >>Part 4. What is my Take Home? Listen now >>Part 5. It Takes a Village. Listen now >>Part 6. The First 30 Days of a Process. Listen now >>Part 7. Finding the Right Buyer. Listen now >> Listen to Shoot the Moon on Apple Podcasts or Spotify.Buy, sell, or grow your tech-enabled services firm with Revenue Rocket.

The episode kicks off with episode 283, hosted by Run2PB coaches Chris Armstrong and Zac Newman. Chris reviews his recent 68km for the week. He highlights a "Deeks Quarters" session that felt significantly better than previous attempts due to cooler weather, s. Meanwhile, Zac discusses his 97.5km week, sharing the challenges of managing a back spasm that required specific mobility work, such as "thread the needle" stretches, to regain full breathing capacity during his runs.Our guest for the week is Andrew Monk, a PE teacher and Director of Boarding at a school. Andrew provides a fascinating look into his lifestyle, balancing a high-stress role supervising 100 students while living on-site with his family. Despite the demands of his career and the windy conditions of rural Western Victoria, Andrew has found a rhythm that allows him to train at a high level. He shares his origin story as a talented junior 800m runner who eventually transitioned to football and then returned to distance running in his late 20s with a renewed focus on longevity.Since joining Run2PB and working with Coach Brady Threlfall in April 2025, Andrew has seen a staggering progression in his performance. He has shattered his long-standing personal bests, including dropping his 5km time from 17:13 (set back in 2014) to a blistering 15:56, and lowering his marathon mark to 2:42:00. Andrew talks about why he signed up to run2pb and what impact it has had on him as well as detailing some fav training sessions.In the "Quick Fire" segment, Andrew gives us a glimpse into his gear and preferences, and reveals the soundtrack to his life.With Thanks to Oat Running SocksListeners can use the discount code Runpb15 to their order. Visit www.oatrunning.com.au

欢迎收听雪球出品的财经有深度,雪球,国内领先的集投资交流交易一体的综合财富管理平台,聪明的投资者都在这里。今天分享的内容叫从茅台的急涨聊起，来自浩然斯坦。不过是几天的涨幅，茅台的股价已经回升到差不多一年前的水平了。最近几年茅台股价这么跌，不过是市场先生情绪化的表现，改变不了企业内在价值在不断增长的事实。最近半年我一直有这样一个提醒：白酒板块历经五年持续调整，行业周期已走到底部区域，而在这样的阶段，估值的修复往往会先于业绩的回暖。当业绩真正探底时，市场反而率先开始修复，股价启动反弹；即便后续业绩仅个位数增长，股价仍延续上涨趋势，直至业绩爆发期迎来加速。回看茅台上一轮行业调整周期的表现，这一逻辑被演绎得淋漓尽致：2014-2015 年行业深度调整，茅台净利润增速低迷；2016 年行业初暖，增速缓步回升；2017 年则迎来业绩大爆发。具体来看，2014 年净利润同比仅增 1.41%，但市场已率先感知到业绩触底信号，股价全年大涨 47.7%（不复权，未计股息收益，下同）；2015 年净利润同比微增 1.0%，个位数增幅下，股价依旧延续涨势，全年上涨 15.07%；2016 年净利润同比增 7.84%，仍未突破两位数，股价继续上行，全年涨幅 53.15%；2017 年净利润同比大增 61.97%，业绩爆发的同时，股价也走出翻倍行情，全年大涨 108.74%。不只是茅台，另一家白酒龙头五粮液在上一轮周期中，同样印证了这一规律。2014 年五粮液净利润同比下滑 26.81% 至 58.35 亿元，业绩仍在探底，但股价全年大涨 37%；2015 年净利润恢复 5.84% 的个位数增长至 61.76 亿元，股价再涨 27%；2016 年净利润同比增 9.86% 至 67.85 亿元，股价继续上行 26%；2017 年净利润迎来 42.58% 的爆发式增长至 96.74 亿元，如同被压缩已久的弹簧释放势能，此前五年积累的估值修复动力集中迸发，股价全年飙升 132%。股价往往先于业绩恢复，股价不会等财报上的业绩明明白白摆出来才动。有人或许会说，上一轮周期茅台的估值比现在低，但即使把当时的估值按照现在的水平做个还原，大的结论也是一样的 —— 周期底部，估值修复先于业绩回暖。当下茅台、五粮液与古井B的估值，无论对标合理的股息回报水平，还是参考行业历史平均估值，都存在显著的折让，单是估值向合理水平回归这一层，就已然具备相当可观的空间。闪电劈下来的时候你要在场，很有意思的一点是，那些之前看出茅台“明显”处于下行周期的朋友，可能就遗憾错过了这波大涨。有趣的对比是，就在茅台急涨的同时，腾讯股价在急跌，两者的关系仿佛是跷跷板，这时候你来告诉我一下：谁是明显的上行周期？谁又是下行周期？每次看到有人说什么，某只股票“明显”处于上行周期或下行周期什么的，我都感觉自己听不懂他在说什么。心里满是困惑：他们说的“明显”，到底是从哪里看出来的？我始终认为，预测市场短期走向，是没啥意义的智力上的虚荣，更是一场注定会输的游戏。因为决定股价短期波动的变量太多了，很多意外都能轻易打乱所谓的“周期”或“趋势”。那些他们口中“明显”的股价上行周期，可能转眼就变成了暴跌；那些他们笃定的“下行周期”，反而可能藏着捡便宜的机会。我们投资的不应该是“周期”或“趋势”，而是企业本身。当买入一只股票时，买的不是这只股票明天、下个月的价格波动，而是这家公司未来十年的盈利能力，是它的护城河、它的管理层、它在行业里不可替代的竞争力。这些东西，才是能真正决定一只股票长期价值的核心，而不是什么虚无缥缈的“上行周期”“下行周期”。就像你投资一家街角的全家便利店，你不会因为它这个月生意好一点，就说它“明显”处于上行周期，下个月生意差一点，就说它“明显”处于下行周期，然后急着把它卖掉。你判断要不要买这家便利店，看的是它的位置好不好、客流稳不稳定、老板会不会经营，看的是它长期能不能持续赚钱。投资股票，和买便利店的道理一模一样，唯一的区别，只是交易的场所从街角搬到了股市。只要这家公司的经营根基没有动摇，只要它还能持续创造丰厚的现金流，只要它的护城河依然坚固，哪怕它的股价短期处于所谓的“下行周期”，也只是一个暂时的、非理性的波动，甚至是一个捡便宜的好机会。短期看，市场是投票机；长期看，市场是称重机。短期的股价波动，是无数投资者情绪的“投票”，杂乱无章、毫无规律，根本不存在所谓的“明显周期”；而长期来看，市场一定会回归理性，股价一定会反映企业的真实价值，这才是投资的确定性所在。但也要承认，试图“抓住趋势”“把握周期”的朋友，出发点不全是在追逐短期的价格波动，很多朋友的初衷其实是试图赚到估值的便宜。“指数基金之父” 约翰・博格做过一个经典研究，20 世纪美国股市 10.4% 的年化平均收益，拆解下来：分红贡献 5%，盈利增长贡献 4.8%，市盈率变化仅贡献 0.6%。很多人拿这个数据说事，说投资者只要耐心持有优质企业，不用管估值。但这话太绝对了，没看到背后的关键 —— 这是 100 年的时间尺度，估值的涨涨跌跌在长周期里相互抵消，最终均值回归。可现实里，不管是机构还是个人，没几个人能拿着一只股票 100 年，大家的投资周期都短得多。就看美国股市 1981 到 2000 年这 20 年，情况完全不一样。这 20 年年化收益 17%，分红只占 4%，盈利增长 6%，剩下的 7% 全是估值变化带来的。哪怕是 20 年这个远超多数人投资周期的跨度，估值的影响都不容忽视。低估值买、高估值卖，这个逻辑本身没问题，确实能显著提升收益。中国市场也是一个道理。2009 到 2022 年 14 年间，沪深 300 全收益指数年化 8%，拆解下来：分红 2%，盈利增长 10%，但市盈率变化拖累了 4%。这十几年的收益折损，核心就是估值的下行，也能看出来，多数时候估值对收益的影响，比盈利增长还要大。（注：此数据引用自《如何快速了解一个行业》）所以那些想把握周期、抓趋势的人，出发点其实没错。但问题的关键在于，周期和估值没法精准把握，这是投资圈的共识，很多大师的实践都印证了这一点。真正稳健的方法，从来都是低估值买入优秀企业，这是最确定的路。我们来看巴菲特的两个十年十倍经典案例。1988 到 1989 年，他买可口可乐，平均 PE 14 倍，不算贵。到 1998 年，十年时间，可口可乐利润增长约 3.4 倍，估值抬升到 50 倍，涨了 3.6 倍，再加上股息，总回报刚好十倍。这十年的收益，估值提升贡献了 55%，利润增长 40%，股息和回购只占 5%，估值提升带来的回报权重一目了然。再看苹果，2016 年巴菲特开始买入时，PE 也就 10 倍左右，典型的低估。到 2025 年，九年时间股价翻了九倍，实现十倍收益。这期间苹果净利润不到两倍，但回购让每股利润涨了 2.6 倍，而估值从 10 倍到 36 倍，涨了近 3 倍。这十倍收益的核心，还是估值扩张，其次是回购，最后才是利润增长。有人说巴菲特靠估值赚钱，这话对，但也不全对。他的核心不是赌估值，而是先找到优秀企业，再等估值的馈赠。可口可乐和苹果的估值能涨，本质是企业的价值被市场重新认知，是企业持续创造价值的结果，不是凭空的市场情绪。长江电力是 A 股里一个典型案例。过去十年投资长江电力获得的469%的总回报里，50%是估值提升带来的，利润增长贡献了37%，股息贡献了13%，投资者主要赚到的，其实是估值抬升的钱。近十年它的估值提升逻辑从 “PE 估值时代”（公共事业股只配低市盈率），到 “股息率倒推时代”（股息率高于存款利率），再到 “DCF 模型折现时代”（未来自由现金流折现），估值方法的升级推动资产价值实现重估，估值不断提升。投资赚到的钱分两种：一种是靠自己能挣到的钱，就是企业内在价值的增长，比如盈利提升、分红、回购，这部分是确定的，能通过研究把握 —— 把企业的商业模式、竞争壁垒、管理层能力研究透，就能判断它的内在价值能不能持续涨，这是实打实的努力，赚的是企业成长的钱；另一种是市场给的 “风落之财”，就是估值提升的钱。这部分钱不是凭空来的，是市场情绪、资金偏好、行业景气度叠加的结果，是企业价值被认可后的溢价。但这钱有个前提，必须是优秀企业，要是买了衰落的公司，越跌越贵，根本没机会赚这份钱。我也想赚估值的钱，谁不想呢？但我很清楚，如果只奔着估值去，大概率是镜中花水中月。偶尔猜对一次两次没问题，但长期下来，总会因为误判周期、看错估值，把赚的钱又还给市场。投资最忌讳的是舍本逐末，把不确定的事当成确定的事做。我的选择一直很简单：以不贵，甚至足够便宜的价格，买入那些具备长期竞争优势的优质企业。先保证能赚到企业内在价值增长的钱，这部分钱拿到手，就立于不败之地了。至于估值提升的钱，随缘就好，把它当成市场先生给的额外馈赠，有最好，没有也不影响根本。风不会平白无故吹向谁，估值的溢价迟早会给到那些能持续创造真实价值、穿越周期的优秀企业。投资的核心，从来都不是赌估值、猜市场，而是找到那些能长期稳定赚钱的企业，用满意的价格买下，然后保持耐心，剩下的，交给时间。时间是优秀企业的朋友，是平庸企业的敌人，更是检验一切投资逻辑的唯一标准。

Kaip mūsų balso klostės reaguoja į šaltį? Ar užkimimas visada reiškia problemą ir kaip šiuo laikotarpiu savo balsą saugoti? Pokalbis su gydytoja otorinolaringologe Austėja Pečeliūniene.Ved. Ignas Andriukevičius.

#agencia #inspección #gobierno La secretaria del Departamento de la Vivienda, Ciary Pérez Peña, da su versión sobre Yabucoa Auto Services. | Ni Rivera Schatz sabe que la información sobre esa corporación ¡Conéctate, comenta y comparte! #periodismoindependiente #periodismodigital #periodismoinvestigativo Síguenos en nuestras redes sociales: tiktok.com: https://x.com/Bonita_Radio Facebook: / bonitaradio Instagram: / bonitaradio X: https://x.com/Bonita_Radio

Welcome to a brand new season of Homeschool Better Together—and a new voice behind the mic! I'm your new host, Laney Homan, and today I'm joined by our HBT community manager (and Charlotte Mason wisdom guru), Dawn Garrett, for a conversation that's near and dear to both our hearts: Community-Based Learning.Truth be told, I've never been much for formal, lockstep co-ops (raise your hand if you're allergic to group projects with rigid requirements and committee meetings that last for-e-ver

1. Bad Bunny, sus mensajes políticos en el Super Tazón y las repercusiones 2. Muchas interrogantes sobre la Secretaria de la Vivienda, Ciary Pérez Peña y su Centro de Inspección 3. Inicia el proceso de radicación de planilla y siguen en el limbo el cheque del “reintegro reintegrable” y la supuesta reforma contributiva 4. Controversia por el veredicto de culpable en el caso de la muerte del biólogo marino Roberto Viqueira a manos del enfermero Eduardo Meléndez 5. Queremos fomentar y crecer el turismo, pero tenemos de las playas más inseguras de todo los Estados Unidos 6. Dramática la situación de los haitianos que llegaron legalmente a Puerto Rico y los están deportando 7. Compinche de Epstein se ampara en la quinta enmienda y dice que si Trump la indulta, hablará para exonerar a Trump y a Clinton 8. DEPORTES ZONA-5See omnystudio.com/listener for privacy information.

As new calcium-modifying technologies expand the repertoire of below-the-knee (BTK) arterial disease interventions, how should your treatment algorithm evolve, and what endpoints matter most? In this episode of the BackTable Podcast, Dr. Constantino Peña of the Baptist Health Miami Cardiac and Vascular Institute joins Dr. Sabeen Dhand to discuss the latest advancements in BTK chronic limb-threatening ischemia (CLTI) therapies and the push to improve on current vessel preparation outcomes. --- This podcast is supported by: Shockwave Medicalhttps://shockwavemedical.com/ --- SYNPOSIS The physicians discuss the evolution of tibial arterial therapies, the challenges presented by heavily calcified lesions, and the impact of new tools, particularly the Shockwave E8 intravascular lithotripsy (IVL) device, on procedural considerations and endpoints. Dr. Peña shares his treatment algorithms and offers practical advice on selecting the right tools for each unique case. The episode closes with speculation on the future of treatment options and technologies for BTK disease, and the growing need for robust data to guide patient-specific treatment. --- TIMESTAMPS 00:00 - Introduction02:11 - Understanding Tibial Disease and Treatment Evolution07:22 - Advancements in Tibial Disease Treatment and the Role of IVL15:31 - Techniques for Effective IVL Sizing and Usage 21:28 - Challenges and Innovations in Tibial Disease Management26:48 - Innovations in Stent Technology30:43 - Combining IVL with Adjunct Therapies32:13 - Addressing Misconceptions in Tibial Treatment37:54 - Advancements in Intravascular Lithotripsy40:59 - Future of Vascular Treatments43:42 - Final Thoughts

Texas wrestling is on the verge of a major shift — and Coach Grant Leath is right in the middle of it.In Episode 435 of Airey Bros Radio, we go belly-to-belly with Coach Grant Leath, head wrestling coach at Tarleton State and a key part of the Texas Collegiate Wrestling Foundation, to talk about building a program with national ambition — and what it could mean for the first NCAA Division I wrestling future in Texas history.We get into Grant's Missouri roots, how injuries shaped him as a coach, the culture of “Tiger Style” (and why he's adjusted training to protect athletes who are too motivated), and what it's really like fundraising from scratch — including the wild idea of a bull-riding fundraiser.We also spotlight what doesn't get enough love: the NCWA. Grant explains why the NCWA is one of the biggest opportunity-makers in wrestling, how it can function as a pipeline for roster caps, and why it may be the sport's best “insurance policy” in uncertain NCAA times.Plus: Grant's health-conscious dress shoe brand built for recovery (“running shoe disguised as a dress shoe”), recruiting angles, tuition hacks for out-of-state athletes, and why Texas is still massively under-tapped.Key topics: Tarleton State Wrestling, Texas D1 wrestling, NCWA, Tiger Style, Rob Cole, Stanford Wrestling, Missouri Wrestling, recruiting, fundraising, roster caps, NCAA uncertainty, in-state tuition waivers, Texas wrestling growth, Shreveport NCWA nationals.Show Notes With Timestamps0:00 ABR mission: spotlighting JUCO/NAIA/D2/D3/NCWA programs + getting Jersey kids everywhere2:26 Full ABR intro + guest intro: Coach Grant Leath (Tarleton State) + Texas Collegiate Wrestling Foundation5:20 Recruiting plugs + where to learn more (tsu wrestling site, updates, newsletter)6:11 Grant plugs his product: health-conscious dress shoes (recovery-focused), copper threading + Hoka-style outsole8:33 ABR pitch: “I'll run a marathon in your dress shoes” cross-promo (Leadville + 26.2 talk)10:23 Grant's origin story: tiny-town Missouri kid hears “wrestling” and thinks WWE11:50 First practice moment: coach tells dad “he's a natural” — and Grant can't quit after that13:13 Coaching starts in college: injuries, surgeries, and coaching teammates while sidelined14:47 Career impact: major injuries, peak ranking, nationals finish, and the hard stop16:07 The bitter taste + leaving wrestling… briefly (Florida job)17:08 Lessons from injuries: film study, mental reps, never guaranteed anything, gratitude for mat time18:50 Training philosophy shift: balancing “one more” with recovery for intrinsically motivated athletes21:20 Breaking down Tiger Style: identity, daily choices, culture pillars, “one more” mentality23:03 ABR adopting “one more” into coaching/PE culture24:03 Path to Stanford: missing wrestling, Tampa Jesuit help, Stanford storyline + Rob Cole connection25:54 The legendary Rob Cole reply: “not qualified” + equipment room joke → then the real invite27:39 Driving 44 hours to the Bay Area + first real coaching break30:47 Staff change → being let go + the Texas D1 opportunity emerges33:47 Fundraising rumor confirmed: bull riding fundraiser idea (Tarleton rodeo culture)36:20 Comedy fundraiser: Grant does 10 minutes opening for Greg Warren (sold-out event)41:18 Reality check: fundraising without alumni, room, or built-in base — “what am I fundraising for?”42:39 D1 timeline tease: conference acceptance + “major announcement soon” (careful not to overpromise)43:54 Season update: roster changes, ranked progress, D1 opponents, tournament placers, NCWA ranking46:22 Recruiting pitch: being first in Texas, trailblazer mindset, “do what Little Rock did — faster”49:34 Mike Moyer/NWCA goal: a D1 program in every state + Texas impact53:09 Why the NCWA matters: opportunities, roster caps pipeline, growth, and wrestling's safety net59:11 NCWA gripe: Club Cup duels restriction conflicts with “opportunity” mission1:00:52 Tarleton recruiting: in-state tuition waiver for out-of-state (GPA/SAT/class rank)1:03:00 Location + campus growth + Texas A&M system resources1:03:43 Tarleton majors: education, nursing, engineering, ag + job placement stats1:06:00 Roster makeup: mostly Texas kids + untapped recruiting market1:11:05 Texas wrestling participation growth + number of programs vs public schools1:13:13 Tarleton as new D1 athletic department + campus culture (clean campus, “don't walk on the grass”)1:15:03 “60% female population” note for the single wrestlers

I am happy to welcome you to the inaugural podcast keynote! This is the official episode 400, so if you're listening to this in February there are 399 episodes to scroll beneath this one. I wanted to mark the 400th episode with something--- in episode 200 we had a town hall and it went really well. I am not sure where this will go on Laura's CV, but I am really happy she accepted the invitation to make something new and to be creative with me on this podcast! Dr. Laura Alfrey –is an associate professor at Monash University in Australia her research interests are in HPE and the ways which policy, professional learning and practice contribute to inclusive and educative experiences for everyone. Today she will share her innovative research in fitness testing…. But beyond publishing copious articles, getting cited hundreds of times a year for her work- Laura also serves the field by being on the Editorial Board for Curriculum Studies in HPE, Sport Education and Society, and the Journal of Teaching in Physical Education…AND MANY MORE!This podcast keynote is about fitness testing in PE, from an Australian lens, with a few notes about the American context, and some commentary by US based researchers as well. Here is a link to the video Laura showed: https://www.youtube.com/watch?v=VcH_IErqIXMThis is the article Chuck noted in his comment: Charles B. “Chuck” Corbin (2026)National Youth Fitness Tests and Awards: Dispelling Misconceptions andMisinformation, Journal of Physical Education, Recreation & Dance, 97:1,3-5, DOI: 10.1080/07303084.2025.2579444 To link to this article:https://doi.org/10.1080/07303084.2025.2579444

What does it take to transform a lean, manual treasury operation into a global, scalable powerhouse supporting 40+ markets?Alex Chalmers, Group Treasurer at Inchcape, shares how he did just that - while navigating complex M&A, implementing automation, and building regional treasury leadership around the world.Alex Chalmers is the Group Treasurer at Inchcape, the world's leading independent automotive distributor. With a career spanning Vodafone, Subsea7, and private equity-backed ventures, Alex brings deep expertise in building treasury functions that align with dynamic, fast-growing global businesses.In this episode of the Treasury Career Corner, Alex takes us through his treasury journey, from entering the field “by accident” to leading Inchcape's treasury function through major growth and transformation.You'll hear how he modernized systems, scaled operations across continents, and handled a £1.3B acquisition - while still staying hands-on with regional treasury realities.What We Cover in This Episode:How Alex transitioned from accounting to treasury - and why it stuckEarly lessons from Vodafone and Subsea7 on cash visibility and project healthTreasury in a PE-backed business vs. a listed global companyBuilding a modern treasury function from the ground up at InchcapeManaging treasury across 40+ markets with regional leadershipThe importance of TMS, payment platforms, and automationFinancing a £1.3B acquisition and preparing for market debut bondsThe role of stablecoins and digital payments in emerging marketsDeveloping yourself as a senior treasury leaderWhy curiosity, simplification, and networking are core to treasury successYou can connect with Alex Chalmers on LinkedIn.---

15 years ago, Victoria Haigh's daughter told her that her father was sexually abusing her. Incredibly, the girl was taken away from mum and her father was handed sole custody of her. Victoria was accused of coaching the child and being an emotionally abusive mother. A couple of years later, she was sent to prison for breaching a no-contact order after accidentally bumping into her daughter at a service station. Victoria was pregnant at the time, with her second daughter Sapphire.She and Sapphire spent six months in a mother-and-baby unit at New Hall prison near Wakefield. After her release they moved to France where Victoria returned to her career as horse-trainer. In 2021 she was handed bombshell information. She learned that UK Athletics had banned her ex-husband for life for grooming a minor! He had remarried in February 2015 but weeks after the wedding he began sending explicit messages on Facebook to a schoolgirl he had met at Doncaster Athletic Club. The girl reported the situation to her PE teacher, who in turn informed the safeguarding teacher at her school.Victoria has launched a YouTube channel It's called Mother's Nature  - How state family court systems remove children and silence mothers. She has also written to MP's - including Rupert Lowe - to offer her advice on grooming gangs and why local authorities are failing children. https://www.youtube.com/@mothersnaturechannelhttps://x.com/HaighVictoria

Tim Martinez, Value Creation, Strategic, and Exit & Succession Planning Advisor—also known as “The Inside Man”—is on a mission to empower entrepreneurs and make the world a better place with his philosophy of “No entrepreneur left behind.”  In this episode, Tim shares how he evolved from starting small businesses as a teenager to advising founders on high-stakes growth and exit decisions. We explore Tim's 3 Exits Framework, which breaks exit planning into three critical phases: Mental Exit (separating identity from the business), Role Exit (building leadership and succession so the business can run without the owner), and Technical Exit (valuation, deal structure, and the formal sale process). Tim also explains why AI is accelerating business disruption, why minimalism is a competitive advantage, and what keeps so many businesses stuck at the $3M revenue ceiling. — 3 Ways to Exit Your Business with Tim Martinez Good day, dear listeners. Steve Preda here, the Founder of the Summit OS Group. And I have as my guest today Tim Martinez, who is a Value Creation, Strategic, and Exit & Succession Planning Advisor, also known as “The Inside Man.” Tim also has a successful Substack with lots of followers, which has a similar title, Inside Man. He's also built his own ChatGPT API, so he's running with the times. Tim, welcome to the show.  Thanks, Steve. Great to be here.  Finally, we have someone who is ahead of the curve on AI and the technological evolution that's part of this new industry revolution. So let’s start with my favorite question. What is your personal ‘Why’ and how are you manifesting it in your practice and in your business?  Yeah. My personal ‘Why’ is to make the world a better place and to empower entrepreneurs. “No entrepreneur left behind” has kind of been my motto. Since I was a kid—I started businesses very young, like 15 or 16—people would ask me, “How are you doing this?” And I would help however I could. And it was just always felt really good to help my fellow entrepreneurs, whether I was helping them in a small way or a big way. And there's nothing better than seeing some of the advice you're able to give someone actually get implemented.Share on X Then you see them go, “Wow, oh my gosh, this is great.” And again, sometimes it’s small, sometimes it’s big. But I believe entrepreneurs rule the world, and I do my part every day—whether it's writing my Substack, jumping on podcasts, or writing books. I'm always here just to share what I've learned, because I think that’s what makes the world go round.  Well, you have a boundless energy, because you are writing books, you are writing your blog, you are doing these podcasts. Then you also have to gather the information, right? You have to work with clients—otherwise there's no raw material. That is very impressive. So what took you to this point? How did you evolve? I mean, you started at 15, but surely you were not coaching or consulting people at 15.  Yeah, so I probably spent about 10 years just starting small businesses. I had the lemonade stand, then a coffee business and a silk-screen business. I had a DJ business, a retail store, a marketing and advertising agency, a small one, but I was able to sell it. And I got lucky and sold a couple of these small businesses. I built websites, built apps—I mean, anything you can do to make a buck. I was just kind of hustling and figuring it out on my own. And at a certain point in time, maybe like 10 years later, someone asked me to help them write their business plan. It was the first time I thought, “Huh, someone wants to pay me to help them write a business plan. That sounds interesting.” Okay. And I had written all of my own business plans for 10 years. I used to go to SCORE—the Senior Corps of Retired Executives, a division of the SBA—and they would consult for free. They still do, by the way. And I always said my long-term goal was to be an old advisor at SCORE, because they helped me so much when I was a kid.Share on X So I charged money for my first business plan. That person was able to raise money from their uncle. Then they said, “Well, hey, we got this money. What do we do now?” So I said, “Well, I think I can charge you. I think this is called consulting. Maybe I'll just charge you to help execute your business plan.” It was a small business, and I went to Barnes & Noble and bought a book that was like this big—How to Start a Consulting Business. I just sat there and highlighted the whole thing. It had CD-ROM forms in the back. I knew nothing about consulting. And probably for the next handful of years, I just focused on writing business plans and helping people. That's kind of what got me into consulting and working with bigger businesses. It really started with business plans and small businesses.Share on X  Yeah. I mean, business plans are great because you are envisioning the future of the business, crunching the numbers—what's going to happen with your top line, bottom line, costs, overhead, margins—and essentially it helps you visualize the skeleton of the business. Then you can put the meat on the bone, kind of thing.  Yeah. And I had worked on hundreds of business plans, and  pitch decks, financial models, and market research. That documentation aspect of a business, I had spent a good, let's say, 10 years working very heavily with clients as an analyst in consulting firms. And that’s really what got me into the game and got me into bigger and bigger businesses, because I got very good at doing that with no formal training—and we didn't really have what the internet is today. I remember going to the downtown library in Los Angeles, finding articles, and taking scanned copies of them. That’s how we did our market research. And business plans used to be like a dictionary. The SBA would require business plans to meet all these requirements, so we ended up with huge business plans. Now people want a one-pager, maybe a 10-slide deck, and call it a day. Where I got my chops was from understanding every imaginable nuance of every business in all verticals. I worked around the world with businesses, and I guess I was in the right place at the right time for it.Share on X  Yeah, that’s very humble. So one of the things that you do is you help people prepare for exit, and you came up with this framework called The 3 Exits Framework. I thought it was fascinating to think about exits from different perspectives and to have different mental models for them. How did you come up with this, and can you explain to the audience what it looks like, how it works, and how it helps entrepreneurs? Yeah. And it’s important to note that I started my career starting businesses, helping people get the start. And as I got older, the businesses I worked with were also getting older. And as I got a little more gray hair and a few more wrinkles, people would take me more seriously at the later stages of the business, when they maybe wouldn’t take me so seriously when I was in my early twenties. So my business had evolved from starting to growing and then eventually to exiting, and that’s where most of my clients are now. What I’ve discovered is most people enter the exit planning conversation at the very end, asking, “What is my business worth? Who wants to buy it?” Needing a business valuation is the most common first question: “Whoa, what's it worth?” But after working with a handful of companies through this whole exit process, you start to realize that there’s far more than just the numbers. The 3 Exits Framework says there are three exits that need to occur before you're out and on your yacht, sailing into the sunset.Share on X The first exit is the mental exit, which we can talk about at length. It's your role—your identity in the business. Who am I if I'm not the CEO? What am I going to do with my time if I'm not running this business? Who am I if people can't come to me with their every burning question? It’s this piece, it’s so important. And a lot of people don’t want to give up control. They don’t even know they’re control freaks, which I'll call them for lack of a better term. But they don’t even know that they are that. You have to help them through that.  The second exit is really your role exit, because eventually someone needs to run this business in your absence. The whole tenant of selling a business is that you're not going to be in it. You might have earnouts or some transitional involvement, but eventually, you will not run this business. So you have to replicate yourself. Most people say, “I've tried, but it hasn't worked.” Well, you know what? Now’s the time for this to work. It's time to build SOPs, standards of excellence, and get someone who could be better than you ever were in that seat. So that role exit is a big part, and that would be true succession. The other part of that is it’s not just the CEO or the owner. A lot of times it’s them and they’re number one, or they’re number two, or number three, because in many cases those people also have equity and ownership in the companies in some cases. So we need to get succession in line for multiple roles.  And then the third exit is your technical exit. It’s the one piece everyone feels like they start with that is your valuation, getting your documentation together, running a formal auction process, making sure that you’re looking at multiple buyers, whether strategic or financial. And just running a very thorough, formal process that’s going to get you the highest valuation possible. And structuring a deal that there’s going to be a little bit of give and take. Most deals die because of misaligned expectations. And they’re usually misaligned expectations on that final exit. So when you put those three things together and someone says, I want to sell my business, or we're thinking about exiting in the next couple years, I just start first with the identity part.Share on X Yeah. And people underestimate the significance of that. It can sound touchy-feely and like an afterthought in most cases. And people think that just by earning a sack of money, their life will be solved and all problems will disappear. But actually, problems exist at all levels. Elon Musk probably has more problems than most listeners here.  Sure.  So, it's not going to solve your problems, and identity is huge. I talk to people—I was also an M&A advisor for over 10 years, sold many businesses, visited former clients, and went out on their boats on the lake. Often, that was the one time they actually used the boat, because they didn't really need it. They thought they did, but they didn't. Next time, the engine wouldn't start, or the boat was full of water. Or they'd go out on the golf course, meet new people, and ask, “Who are they?” It turned out they were just retired rich people—not interesting entrepreneurs or CEO. That's a huge change. And with the Great Wealth Transfer and the aging Baby Boomer population, there's a statistic that says 50% of business owners are forced into an exit—meaning there’s some life event that occurs that says you now need to sell your business and get out. And you and I both know that if you’re forced to an exit, you’re going to be taking a major discount. But those forces can happen when you have a heart attack, or someone in your family has a health issue, or your grandkids and everybody moves multiple states and you want to go with them. All these things happen. So our recommendation is just start having the conversation now.  Yeah. And so I think it's a little bit like saving for retirement. A lot of people keep putting it off, and eventually there's no time left to do it, and then they’re in trouble. So how do you even raise awareness with people about this? How do you work with them to prepare this? Can you actually raise awareness and make them feel this is a real issue? How do you raise awareness?  Well, I have my blog, and that’s probably where I do most of my conversations. I wrote about the 3 Exits Framework. Any chance I get to speak, I always use it to raise awareness around the subject. In my consulting practice, I work with a handful of consulting firms and investment banks. Anytime I get pulled into a conversation about exit planning, I usually just pause for a second and just talk about their life goals.Share on X Like, what do you really want this exit to do for you? Because there are so many things you can do and a million ways to do it. So, what do you really want this exit to mean for you? Also, remember, Uncle Sam is going to take his cut—so not everyone gets the biggest check possible. Usually, what we hear is people say, “I'm just so exhausted. I don't have anything left in me for this thing, and anything I can get for it, I'd be happy to take, as long as it means I don't have to put out every single fire.” And this usually happens because they didn't build good systems to remove themselves from the business.  Otherwise, they would've been the chairman, and just meeting with their CEO, who's running the business. That’s usually not the case with these owner-operator businesses. And that doesn't mean they're small, by the way. I mean, they could be running a $50 million business and still the choke point where everything has to run through them and they’re just exhausted and burnt out.  Do you think that this AI revolution is going to change things? Is it going to make more people exit-ready because it's easier to create systems?  Perhaps. Yeah, I think it's helping the service provider world be more efficient. In my world as a management consultant, I'm 10 times more efficient. I’m sure you’re 10 times more efficient with tools like the one we’re using here, and it just helps us speed things up. I've noticed people use it as a thought partner, as a psychiatrist, even as a best friend. I've seen people go into deep dialogue like, “Should I sell my business? Give me five factors.” The ones who are aware of this are using it fully. The people who aren't are a little behind the times. And then from an operational standpoint, yeah, I mean with the bots and all the many things you could put in your business to make you more efficient, but that doesn’t apply to everybody. I would say there’s going to be a 10 to 20% group of people that are already on it, making it work for them, and then there are the laggards who will probably never touch it.  Or is it that—okay, maybe we can be more efficient with AI, but we'll have the appetite to do more, and there will be more complexity? Some things we'll simplify, but we'll create other complexities that replace the previous ones. What do you think about it?  Yes. So businesses typically have cycles. There's usually a five- to seven-year cycle where a business hits its peak, and then it starts to trend down. And they usually have some level of innovation that has to reoccur for it to hit another up cycle, and then there will be a down cycle and so on and so forth. So it's always like an up slope after an up slope. When you've been in business for 30 or 40 years, you've gone through multiple rounds of these cycles—three or four rounds of those cycles. What I’m hearing right now is business owners that are, let’s say, at retirement age, they’re saying, “I don't know if I have what it takes to go through this AI cycle. Maybe I had what it took to make it through the eighties, nineties, and two thousands, but now we're in 2026. I’m not sure I’m equipped, or my team who’s also very senior, they don’t feel like they have what it takes to get through that next cycle without hiring young talent. But even then, they don’t really understand what they’re talking about. So there’s this gap. And again, I’m hearing it more and more of people saying, I think now’s the time to get out and let some other company that has gas in the tank, vision, and capacity to come in and do that thing.  Yeah, that's interesting. Do you think a multiple-AI–enabled company versus a post-AI company is going to be markedly different?  Maybe. Because it all comes down to revenue—it comes down to the revenue story. I'll give you a perfect example. You have a very profitable company, but they're using an old CRM. A new company comes in and says, “Hey, you're already profitable. If we buy you and put in a new CRM, maybe we could be even more profitable.” That’s cool. So we don’t really need you to put in all the tech. We’ll come in and do all that, and then we’ll get the upside on that. Just as long as you’re profitable, as long as you’re profitable, yet you don’t have major client concentration, your business has all the components. A new company with new vision could come in. That would largely be a strategic buyer. The PE buyer, the financial buyer, most likely is going to want to inject capital into your business so you can go and reinvest, and build new tech, or become a platform, whatever you’re going to be. But that would be a different arrangement. So it's basically a numbers issue. It doesn't matter your technological evolution. And maybe it’s even worse if you've already implemented AI and that only allows you to make five million dollars—there's less upside for the buyer.  Yeah. The bigger concern is: Is your industry at risk because of AI? Is your particular business at risk? And that's why I think people need to adopt it—so they can say, “No, we're not at risk. We've adopted it, we're applying it in whatever fashion we're doing it, and we're going to see the results.” We've already seen a major downswing in a handful of industries because of AI. I mean, advertising agencies are getting hit really hard. People used to be able to charge for writing press releases, to write blogs, to write social, to do video editing on social media. A lot of that's gone, so the bottom tier of those agencies is just gone—there's no need for them anymore.  Do you see people proactively working on making themselves AI-resilient? Everyone knows that they need to do it. Nobody is unaware that today, it’s like websites. There was a time when everyone knew they needed a website. They just didn’t really know how they were going to build it or who was going to build it. They knew it was going to be expensive. It’s kind of where we’re at right now. Everybody knows they need AI. They’re just not exactly sure how they need AI, what it can actually, literally do for them.I think for some people, that big dream that it was going to do everything quickly got taken off the tableShare on X and they say, okay, we could do this much, but even this much is make me very effective.  But it’s just not going to do everything. Like, I still need an accountant. I still need an account manager. I still need someone to do these things, but maybe I don’t need as many people as I once did. So we’re seeing kind of some leveling off there. But I would say largely most people don’t know what AI can do for them, and they’re not really prepared to make those investments. We have a client right now that just made a half million dollar investment into an RFP tool that’s going to help them move faster than their competitors, submit more on RFPs, build everything out in a very complicated way, but they’re making a half million dollar investment. How many companies out there are saying, let’s go, give me the invoice. I’m ready to roll. There’s still a lot of pause there.  What you're describing feels more like a defensive play—okay, we know AI is coming, so we have to implement some AI tools. But I’m thinking more about the big picture. Is my industry going to be disrupted by AI? And how do I pivot my business before I lose momentum, so I become like Netflix—going from a video rental company to a streaming company? Yep.  Do you see companies rethinking their business model?  I think from what I’ve seen, people are rethinking everything—top to bottom. Because you have to start with labor. That’s usually where people start. “AI can do all these things—do I need less talent on the deck?” And if I do, then what can AI do so I don’t have such heavy overhead? Because overhead is also liability, and it has this employment risk behind it. So if you can go from a thousand staff to 800 or 750, great, let’s do it—why wouldn't you do it? Most people are saying, “Let's figure that part out first.” The next thing is the industry disruption, which is what’s our competitors doing to service clients better, manufacture faster, or do things cheaper, so then we’re not left in the dust. So from a production standpoint, we need to figure this out quickly. What I'd say—what I do—is, as an analyst, as a consultant and advisor coming in, that's why I built my AI. I built my AI to fire myself. I basically said, “What I used to do as a management consultant is now irrelevant, because AI is better than me.” So let me just build the digital me and not worry about that side of my business anymore. So I just don’t worry about that anymore. I don’t even really take on assignments that I used to, because AI can do it better and faster. Now, if you want to hire me and allow me to use my AI tool to handle the technical work, I'm more than happy to do that. But I'll tell you firsthand—save your money.  So you're giving it away, or are you selling it?  Yeah, it's free. It's free. It's on ChatGPT. What people can’t do is sit down and have an honest, sincere conversation and ask them the hard questions and challenge them. That's where AI still lacks the human component. I can take a client and say, “Hey, let's hang out. Let's get lunch. Let's go play golf. Let's bring in your kids. Let's talk to your kids. Let's talk about the family dynamic.” Let’s just have a sincere conversation. Let me hold space and create a forum where I can hear people. And that human component is the only thing that I’m worried, like I’m working on now. I'm out of the technical side, because that part of my job is gone.  So fascinating. So does it mean you have to be more of a social animal?  I think so. If you're not going to be a social animal and you're just going to sit at your desk, you should probably be building software using tools like Replit, n8n, or any of these different software tools and just go all in.Share on X But the way we used to do it—you probably see this on LinkedIn, with all the bots on LinkedIn, it’s not what it used to be. It used to be a place where you had a handful of connections and actually met people. Now it’s just so overrun with the bots. It’s like I don’t even want to accept connections anymore. I'd much rather have a conversation like this. To me, this is the future.  Yeah. But maybe we connected originally through LinkedIn. I don’t know where, how we connected, but we may have have connected through a bot—actually.  It’s possible.  Yeah.  It’s possible. But I'll tell you, I connect with maybe one or two percent of people now. Previously, because I didn't get so many inbound inquiries, I would connect with more, because I felt like there was a sincere person on the other end. Now, I really don't know. I've become very skeptical.  Yeah, I'm with you. Let's switch gears, because our time is running out. And there are a couple of things that in our pre-interview you talked about, and one was minimalism. Yeah.  What is minimalism? How do you do it? And what’s a low-hanging way to start to become a minimalist?  It's kind of like that first-principles idea of what really matters. It’s essentialism. It’s kind of getting down to the one thing, that was my recent blog, if there was only one thing you could do this year, but it would make all the difference, what would it be? And anything that gets in the way of that one thing is just noise. For me, minimalism is really about reduction, and kind of getting rid, and being aware and cognizant of things that really shouldn't be on your desk, on your to-do list.Share on X And using AI tools and assistance to get rid of everything that’s low-level activity. If you think of a pyramid, at the very top is where the most value that you can add would be. But yet we spend all of our time, if this is a time pyramid, most of our time is spent at the bottom, the wide part that pretty much anyone can do. So we kind of got to invert the pyramid. To get there, you have to reduce and extract. To protect your time, you have to treat it as very precious and focus only on the most important thing at all times. It is a very hard thing for all professionals to do, and it’s always been a hard thing, but I just take it upon myself and say, okay, well, as a minimalist, I mean, if you were to come to my house and see how sparse my furniture is on purpose. How sparse my closet is on purpose. I’m trying to get rid of options. It's like Steve Jobs and the black turtleneck—if I have one less thing, because I can only make so many choices and decisions in a given day, let me spend my time on the things that are the most important and most impactful.Share on X And that’s not always, because it’s going to put millions of dollars in my bank account. Sometimes it’s just helps me sleep better at night. So I don’t need 50 clients. If I’m going to have 50 headaches. What if I just have five clients? And every one of those was one that I felt very good about, and that would allowed me to charge more. It allowed me to go deeper with them. It's that concept—then you're free to see where your scalable opportunities are. It's the story I told you about a monk who was carving away at this beautiful elephant. Someone walks up and asks, “How did you learn to do this, carving away this elephant in the stone? And he says, Oh, I just chip away everything that's not the elephant. So for me, I have to have a very clear picture of what the elephant is. I have to see the picture in my brain first—like what my life is, what I’m trying to build, how good of a dad I’m trying to be, how good of a husband I’m trying to be, how good of a business partner or a service provider, an advisor. This is my life’s work as a masterpiece, so let me just get rid of anything that doesn’t belong as part of that picture. So that, to me, is kind of how I would explain it. And my approach toward it is I just get rid of everything. It’s not about accumulation. I don't really need more information, because AI already has all the information. Anything I'm going to absorb, I have to be very intentional about—why am I reading it? I see all the books on your shelf. I could show you my bookshelf—tons of books, right? I feel like I've read them all. Am I going to learn anything new? I could also just go back to the books I've already read. I try to highlight them and stuff, but it's like, what more do I need at this point?  Yeah. So I’m wondering about this idea of a lifestyle business versus a growth business. Because what I see is that people who are building a lifestyle business, it’s easier for them to be a minimalist. Because you just do this most valuable thing. You don’t have to build the business. You don’t have to worry about necessarily all the other people, systems, and processes, or making sure of quality control. You just do your high-value work, and at the end of the day, you can put things down and relax. Whereas a growth business, it's different.  I would say with the clients that I have—some have thousands of employees, some have hundreds—I still encourage them to reduce and subtract. Even though they're in high-growth, highly scalable businesses, sometimes the conversation is: How many direct reports do you have, and why do you have that many direct reports? How are you delegating? How are you giving authority? How are you limiting all the inputs? Because a lot of it is noise in your given day. So how do I make your day a little more silent so you can have a little more peace to make better decisions while you run this highly scalable business? Just because you're scaling doesn't mean it needs to be pure chaos. That's what people think—they think, “Oh, if I scale, that means chaos.” I'm anti-chaos.  Okay. But let me ask you this: Two of the most successful entrepreneurs of our time are Elon Musk and Jensen Huang. Elon Musk runs six companies, so he's got a lot of direct reports and goes deep in each of them. And then Jensen Huang has, I don't know, 20, 30, or 40 direct reports—he basically has a million direct reports as well. And that actually allows them to be closer to decisions and make sure things don't go off the rails and their vision gets manifested. So that's what I'm kind of wondering—whether minimalism means you're going to, maybe the flip side is you have to accept less growth, or maybe not.  So I’ve met with a lot of entrepreneurs in my life. Not one of them has been Elon Musk. So I would say we’re looking at the median of entrepreneurs, the average entrepreneur. Those are the people I deal with. I’m not dealing with Elon Musk. I would love to, but I don’t have those types. I have the family-owned business who took it over from their dad and they’ve been running it for 50 years, and he has 250 employees, and he’s got pure chaos, and I’m getting the call to go in and try to sort him out. These are not always the highly sophisticated Steve Jobs types of the world. If you really take a look under the hood with Elon—I read his book and listened to the audiobook with my kids, so I'm very familiar with his story, because I've heard it twice now—what they don't really mention is all the heroes underneath Elon. He wouldn't be who he is without all the many heroes, all the systems, and the Six Sigma and other processes and procedures. That's not to say he doesn't take a deep analytical look at everything, but who are those heroes and what are the processes? I'm far more interested in hearing about his VP of Operations than about Elon. Because what has his VP of Operations worked out? What systems have they implemented that allow him to scale and build a Tesla? Or his COO, like, what do they have going on? Elon's a face. Elon's a madman. He creates all this momentum and chaos, and then he has teams of people behind him who make sense and order out of that chaos. That's why you have what you have with Tesla. If he were just Elon Chaos, without that, I don't believe he would be where he is. But he had people that wanted to get in line. He had a lot of people that wanted to get in line. They believed in his vision. He had huge visions, and it's very inspiring to get behind those visions. Then they say, “Okay, give me the ball. We'll create the infrastructure that allows this thing to take off.” So I'm far more interested in the infrastructure that allows for that scale.  I agree. I'm just thinking whether there is this kind of dichotomy. Because I see that many entrepreneurs—when I was an investment banker—until they sold their business, they were not able to have that simple lifestyle they perhaps desired, because they were building, they were reinvesting. And it wasn't just reinvesting their cash—they were reinvesting their time. So every time they simplified, that was the opportunity cost of not using that time to improve their business. So they plowed it back in, plowed it back in.  Well, it's kind of like the E-Myth is a bit skewed. It's almost like the E-Myth is a myth. E-Myth is a dream—a dream that you can work on your business, step out completely, and everything about it runs itself. It doesn't really work that way. If you're going to be a successful entrepreneur, you're going to have late nights, long weekends, and you're going to feel like every major problem is your own because you're taking all the legal risks. I'm not telling people not to scale. I'm not telling them not to have chaos. What I'm trying to help them do is get clear on what they consider to be important.  And not get killed in the process, and not get divorced.  Statistically, that can happen—the more successful someone gets.  Yeah, it does. Because our time becomes much more valuable, and at some point, it's really hard to say no to the million-dollar hour—to spend that hour watching Netflix with your spouse, right? Exactly. Just feels harder to do.  Exactly.  Yeah.  That was good.  Alright, well, I enjoyed this tremendously. So one more question, one more question that I have to ask you. You talk about this $3 million rule—what do you mean by that? That’s a really interesting concept.  Yeah. So most small businesses get stuck around $3 million, statistically. The question is, why? Why do they get stuck there? A large majority gets stuck and it’s because they create a lifestyle for themself around $3 million. They’re taking enough off the table that they would never be able to find a job that would be able to replace that type of income. So they've made their small business their sole business, their job, and they say, “This is good enough for me,” because let's say half a million dollars, more or less, is going into their bank. They're filling up their 401(k), sending their kids to private school, giving themselves big bonuses. If they're profitable, they don't really see the need to take more risks or double down to go past that wall. I've seen many businesses kind of stay there. They’ll go fluctuate up and down through the years, but more or less they’ll hit that wall. They could stay there for 20 years and never make any progress. It’s not until they put on new thinking and say, we’re going to grow through acquisitions, we’re going to target a different market, new products, we’re going to innovate in some way. But that takes extra gas in the tank. Sometimes, a lot of entrepreneurs, once they hit that first level of success, say, “This is good enough for me,” because it usually takes them about five to seven years to get to that first major breathing point.  They're not hungry enough anymore.  Exactly.  Does someone has to be a little crazy to still want to eat more, even though they're already full?  Yeah. Some people are just wired that way. Some people just more and more, and that's no slight against them. They're never satisfied. They always want more—another dollar, another nickel. If they saw a nickel on the floor, they would stop and pick it up. They want every piece of everything. And those people usually are the ones that go and go and go and go. They’re usually the ones that just keep going because it’s an insatiable appetite. I'm not talking about people who get—well, I don't want to call it lucky—but sometimes things do fall out of the sky. Sometimes a big client falls out of the sky, or an opportunity opens up, and people are smart enough to buy their competitor when the competitor approaches them. Or sometimes they make these little moves, and that gives them a leap. I’m not talking about those people. Those are outliers to me. I’m talking about your average entrepreneur that built a $3 million business on his own with no major clients falling, just hard work, blood, sweat in tears. The average Joe typically gets stuck around that $3 million.  Yeah, that’s interesting. Fascinating. Alright, well, if you don't want to be stuck around $3 million, or if you want to get to the next level, then reach out to Tim and check out what he’s doing. So where can our listeners find you? Where can our listeners find you if they want to learn with you, learn about you, read your Substack, read your books? Where should they go?  Just go to Google or AI and type in Tim “The Inside Man” Martinez. The Inside Man is an acronym for Tim. You'll find my LinkedIn—happy to connect with you, just tell me you heard me on Steve's podcast. You can also check out my blog: it's Tim “The Inside Man” on Substack, or go to www.theinsideman.biz, my website. I'd love to connect with anyone. Well, do check out Tim's Substack—it's awesome. You're going to get more of what you heard on this podcast. And if you enjoy listening, make sure you follow us. Subscribe on YouTube, LinkedIn, Apple Podcasts, or wherever else you get your podcasts, because every week I'm inviting—and luckily more and more people want to come on the show—to have a conversation. So thank you, Tim, for coming, and thank you for listening. Important Links: Tim's LinkedIn Tim's website

(0:00) Intro(2:04) About the podcast sponsor: The American College of Governance Counsel(2:50) Start of interview(3:51) Betsy's origin story(9:14) The HealthSouth Board Scandal(16:35) Her preference when picking what boards to serve on(17:30) Insights VC-backed Boards and role and profile of the independent director in this context(21:20) Insights on PE-backed Boards and role and profile of the independent director in this context(25:35) Navigating International Board Dynamics. Her experience on boards of Volvo and Schneider Electric.(30:57) The Rise of Private Markets. Example of Atlas Air (Apollo backed). IPOs in 2026.(35:07) AI's Impact on the Market and other macro trends(38:10) Founder-Led Companies and Governance (including dual-class share structures).(42:25) The Impact of Geopolitics on Governance(45:11) The Impact of Politicization on Governance. Examples of Budweiser, Google, Netflix, and the mission-driven approach by Coinbase.(50:09)  Adapting to Accelerating Change as Directors. The problem with incrementalist "custodian" directors in times of disruption. "It's really about being change-adaptive and comfortable making decisions with incomplete information. You look at someone like Musk, he's making decisions when he has 60% of the information. Most boards want 95% before they'll move. That's the fundamental challenge."(55:58) Books that have greatly influenced her life ("the best business book"):Good to Great, by Jim Collins (2001)(56:16) Her mentors. Craig Billings (CEO Wynn Resorts), Michael Steen (CEO Atlas Air Cargo), Jean-Pascal Tricoire (Chairman, Schneider), her mom ("her biggest mentor").(57:06) On the current state of shareholder activism(57:58) Quotes that she thinks of often or lives her life by "Perfect is the enemy of good enough." (58:19) An unusual habit or an absurd thing that she loves: she's a compulsive note-taker (plus, her recommended policy for directors)(1:00:12) The living person she most admires: Elon MuskBetsy Atkins has served on more than 38 public company boards and through 17 IPOs, in addition to scores of PE and VC-backed company boards. She brings a rare perspective shaped by crisis situations, international board service, and rapid technological change. She currently serves on the boards of Wynn Las Vegas, GoPuff, and the Google Cloud Advisory Board. You can follow Evan on social media at:X: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

A New Mexico teacher's life fell apart after he was caught in a multi-agency sex sting operation, "Operation Overwatch." Stephen Phillips, a long-time PE teacher, communicated with an undercover officer he believed to be the father of a 12-year-old girl. Law&Crime's Jesse Weber has details on what Phillips revealed in shocking body camera footage.PLEASE SUPPORT THE SHOW: Grow your own audience today – go to https://www.opus.pro/sidebar for 1 week free plus 50% off the first 3 months of Opus Pro. HOST:Jesse Weber: https://twitter.com/jessecordweberLAW&CRIME SIDEBAR PRODUCTION:YouTube Management - Bobby SzokeVideo Editing - Michael Deininger, Christina O'Shea, Alex Ciccarone, & Jay CruzScript Writing & Producing - Savannah Williamson & Juliana BattagliaGuest Booking - Alyssa Fisher & Diane KayeSocial Media Management - Vanessa BeinSTAY UP-TO-DATE WITH THE LAW&CRIME NETWORK:Watch Law&Crime Network on YouTubeTV: https://bit.ly/3td2e3yWhere To Watch Law&Crime Network: https://bit.ly/3akxLK5Sign Up For Law&Crime's Daily Newsletter: https://bit.ly/LawandCrimeNewsletterRead Fascinating Articles From Law&Crime Network: https://bit.ly/3td2IqoLAW&CRIME NETWORK SOCIAL MEDIA:Instagram: https://www.instagram.com/lawandcrimeTwitter: https://twitter.com/LawCrimeNetworkFacebook: https://www.facebook.com/lawandcrimeTwitch: https://www.twitch.tv/lawandcrimenetworkTikTok: https://www.tiktok.com/@lawandcrimeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Natalie Henley, CEO of Volume Nine, is here to unpack how she bought out her agency's founder. Not through PE, not through M&A, but as a trusted insider who built her path from employee to owner. Natalie shares the behind-the-scenes story of how she structured the deal without needing an SBA loan, the mindset shifts she had to make, and how the agency survived both Google's algorithm changes and COVID-19 cratering their top clients. In this episode, we'll discuss: Grooming your #2 to become your successor, or become the one buying. Avoiding mistakes that slow down or kill an internal exit. Using creative financing (HELOCs, owner carry notes, balloon payments) to structure the deal. Knowing when an employee has what it takes to run the agency. Preserving trust and team stability during a leadership transition. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources This episode is brought to you by Wix Studio: If you're leveling up your team and your client experience, your site builder should keep up too. That's why successful agencies use Wix Studio — built to adapt the way your agency does: AI-powered site mapping, responsive design, flexible workflows, and scalable CMS tools so you spend less on plugins and more on growth. Ready to design faster and smarter? Go to wix.com/studio to get started. Links: Natalie's free AI and SEO grader tool: geo.v9digital.com Want to know what your agency is worth? Check out the Agency Valuation Calculator   The overlooked exit strategy: selling your agency to a team member… Natalie started as an employee in a boutique digital firm. When it got acquired by Volume Nine, she climbed the ranks the old-school way: by taking on every problem no one else would. Over time, she ran the company. Then COVID hit. The agency's revenue cratered. Clients disappeared. The founder wanted out. But instead of flipping to a stranger, he turned to Natalie. The "Oh Shit" Moment and the Deal That Followed When the founder came to Natalie with the offer to buy, he already had the groundwork laid. He'd called the bank, scoped out an SBA loan, and gave her a number. Natalie didn't have a pile of cash sitting around, but she did have grit, resourcefulness, and inside knowledge of the business. She didn't take the SBA route. Instead, she pieced together a creative financing stack: A HELOC for the down payment An owner-carry note A balloon payment at the end The company is paying for itself over time. No brokers. No middlemen. Just a fair, fast, founder-to-founder deal. Why This Worked (And Why Most Don't) Natalie had already been: Running the company Exposed to the numbers Made a co-owner years earlier This wasn't a random promotion. It was a trust-built, stress-tested evolution. And it mattered. Because when the deal closed, the culture didn't collapse. The clients stayed. The team believed. What if the best buyer for your agency is already on your team? If you're feeling done, but still care about your agency, selling to a team member might be the cleanest win. Here's how to set it up: Start grooming your #2 now. VP → President → Co-owner → Buyer. Expose them to EBITDA, profitability, client churn…. everything. Stress-test them: give scary responsibilities and see how they show up. Be fair. Don't squeeze every dime. The goal is continuity and peace of mind. Don't wait until you're burned out. Move before it's a fire drill. Agency ownership is a wild ride. If you're looking for a graceful exit that doesn't torch your legacy, this might be it. And if you're the #2? Start acting like the owner today. You never know when the keys will be offered. As Natalie said, "If you care about your team and the agency's legacy, you owe it to yourself to consider your employees as potential buyers. Even if they say no, at least you gave them a shot." Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.