Sieva Kozinsky - Long-Term Thinking is an Advantage - Ep.212 [TLAO Replay]

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Feb 27, 2024

Sieva Kozinsky discusses the advantage of long-term thinking and compounding in business. He prefers buying over building, studies successful companies, and emphasizes documenting beliefs. The shift to long-term investments, optimizing incentives, and lessons on owning businesses are explored. Operational experience, effective learning strategies, and successful business tactics like Costco's pricing strategy are also discussed.

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Introduction

00:00 • 2min

Analysis of Tax Diligence in Quality of Earnings Reports for Small Businesses

02:04 • 2min

Importance of Documenting Beliefs and Long-Term Structures in Business

04:08 • 5min

Exploring the Shift from Short-Term to Long-Term Thinking in Investments

09:08 • 3min

Lessons on Incentives, Ownership Mentality, and Business Growth Strategies

11:57 • 24min

Founding and Operating Businesses: The Crucial Role of Prior Experience

35:56 • 29min

Effective Learning Strategies and Retention Techniques

01:05:11 • 5min

Exploring Successful Business Strategies and Buying Groups

01:10:05 • 4min

Ep.212: Alex Bridgeman (@aebridgeman) is joined by Sieva Kozinsky (@sievakozinsky).

My guest on this episode is Sieva Kozinsky, co-founder of Enduring Ventures, a holding company founded in 2019 with 17 acquisitions to date. Sieva and I met at a dinner following the Berkshire Hathaway meeting in Omaha, his first time attending the meeting. A theme from our first conversations in Omaha that continues through this episode is long-term thinking being a huge advantage, and that compounding happens everywhere. Reputation, lessons, and learning - well beyond capital alone.

Given that our guest last week, Eric Jorgenson, is the CEO of one of Enduring's companies, I thought this would be a timely episode to bring back to the top of the feed

We talk about Sieva’s background as a founder and how it impacts his role at Enduring Ventures, how he discovered he is a better buyer than a builder, great companies and founders he’s studied and taken lessons from, and much more. Enjoy!

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Links:

Titan: The Life of John D. Rockefeller by Ron Chernow

The Gambler: How Penniless Kirk Kerkorian Became the Greatest Deal Maker in Capitalist History by William Rempel

Topics:

(00:00:00) - Intro

(00:04:27) Belief Documents

(00:09:13) Long-termism trends