Navigating Company Culture and Operational Excellence

This chapter explores the unique company culture of a large campus hosting multiple businesses, focusing on its evolution from bootstrap beginnings to a robust belief system. It discusses the challenges of motivation in teams amidst changing work dynamics and emphasizes the importance of curiosity and adaptability for success. The conversation also delves into private equity's perception, operational strategies, and the critical factors influencing successful partnerships and acquisitions.

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My guest today is Ric Elias. Ric is the CEO and co-founder of Red Ventures, which has a portfolio of fast-growing digital businesses like Lonely Planet, The Points Guy, Bankrate, and large investments in a variety of other businesses across industries. He began the business in 2000 and has grown it to now a global company with thousands of employees. Ric walks us through the early struggles that have led to what is now a flourishing investing platform, but mostly this episode is a masterclass on cultural values and philosophies that transcend mere financial gain. We discuss the difference between living good and well, the power of forgiveness, and compounding more than just your capital. Ric’s story is one of resilience, humility, and grace. His story about being in the front row of the plane that Captain Sully landed in the Hudson is singular and very moving. Please enjoy my conversation with Ric Elias.

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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.

Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:

(00:00:00) Welcome to Invest Like the Best

(00:04:29) Understanding Red Ventures: Origin and Evolution

(00:06:44) Early Challenges and Turning Points

(00:10:15) Operational Success and Company Culture

(00:16:10) Insights on Motivation and Growth

(00:25:35) Reflections on Money and Personal Well-being

(00:32:39) The Hudson River Plane Crash Experience

(00:42:25) Reconnecting with Puerto Rico and New Ventures

(00:47:10) Underdogs to Champions

(00:49:56) Building Trust and Team Dynamics