Invest Like the Best with Patrick O'Shaughnessy

Ric Elias - The Art of Living Well - [Invest Like The Best, CLASSICS]

184 snips
Dec 23, 2025
Guest
Ric Elias
Ric Elias, CEO and co-founder of Red Ventures, shares his journey of resilience and cultural philosophies. He discusses the profound difference between living well and merely good, emphasizing inner peace and purposeful living. Drawing from his transformative experience during the Hudson River plane landing, he explores themes of forgiveness, the importance of character in business, and the value of community investment in Puerto Rico. Elias advocates for using wealth to create time and meaningful social impacts rather than incessant accumulation.
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INSIGHT

Bootstrapping Preserved Independence

  • Early Red Ventures survived by hustling and trading services for cash until a repeatable performance model emerged.
  • Bootstrapping preserved independence and later enabled patient permanent-capital choices.
INSIGHT

Relentless 3% Gains Compound

  • Red Ventures' early edge came from relentless focus on incremental performance improvements tied to pay-for-performance.
  • Compounding small monthly optimizations produced outsized business results over time.
ADVICE

Make Clear, Mutable Cultural Beliefs

  • State your beliefs and use them as connective tissue across teams to attract aligned people.
  • Keep beliefs flexible ('written in pencil') and use them to evaluate decisions and performance consistently.
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