How I Invest with David Weisburd

Eric Olson, Co-founder & CEO of Consensus, shares his journey in building an AI-powered search engine for scientific research. He discusses how they scaled to 5 million users with a small team and raised significant funding. Olson highlights the importance of vertical focus over horizontal platforms and presents his 70/30 product development framework. He also dives into the competitive landscape of AI talent, stressing that execution speed and strategic innovation are key to creating a defensible business in this fast-paced market.

Avy Stein, Founder & Co-Chairman of Cresset, shares his dynamic journey from a Kirkland & Ellis lawyer to a powerhouse in private equity, now managing over $70B in assets. He discusses the evolution of private equity, emphasizing co-investment strategies and relationship-building for optimal returns. Stein dives into the rise of private credit, the significance of aligning interests with general partners, and shares insights on cultivating a strong organizational culture. He also reflects on personal growth through challenges and the importance of adaptability in investment strategies.

Frank Mihail, Chief Investment Officer of North Dakota's Department of Trust Lands, shares insights on managing an $8 billion portfolio with a lean three-person team. He discusses their focus on alternatives for 75% of the portfolio, the advantages of evergreen fund structures, and the strategic use of portable alpha. Mihail emphasizes the team's mission to fund public schools, revealing how their concentration on risk management and behavioral finance shapes investment decisions. He also highlights the role of collaboration in enhancing their investment approach.

Henry Shi, co-founder of Super.com, shares insights on how AI can enable lean startups to thrive with smaller teams. He explains 'seedstrapping'—a funding method that allows companies to grow without the traditional venture capital treadmill. Henry discusses how outcome-based pricing can outpace traditional SaaS models, emphasizing efficiency and customer results. He also reveals his creation of an AI VC assistant within a weekend and highlights key traits of successful founders in the AI era, such as resilience and a tendency to defy conventional wisdom.

In a captivating conversation, Francis X. Suarez, Mayor of Miami and former President of the U.S. Conference of Mayors, shares insights into Miami's transformation into a vibrant tech and finance hub. He discusses the 'quantum opportunity' stemming from the influx of residents from high-tax states and details the challenges of housing and education. Suarez highlights the city's civic branding efforts, including significant sports deals, and reflects on the importance of leadership, humility, and learning from failures in today's political landscape.

Alan Zafran, Founder & Managing Partner at IEQ Capital, shares insights from nearly three decades of advising ultra-high-net-worth families. He discusses the strategic 3-12 month cash runway for risk management and the promise of secondaries in volatile markets. Zafran emphasizes the importance of careful GP selection and the nuances of investing in private credit. The conversation also highlights how personal relationships and trust shape financial guidance, especially as investors navigate rising sovereign debt and interest rates.

Rafael Costa, co-founder of Across Capital and a seasoned investor in software across the U.S. and Latin America, shares insights on the vibrant Brazilian fintech scene. He highlights how innovations like PIX are reshaping the landscape and discusses QI Tech's ascent as a pivotal player. Rafael explains his concentrated investment strategy, which enhances clarity and fosters strong partnerships. He emphasizes the importance of diligent assessment and shares personal advice on focusing relationships for long-term growth.

In a thought-provoking discussion, John Felix, General Partner & Head of Research at Pattern Ventures, dives into elite endowment investing strategies. He explains how concentrating on top ideas leads to better performance and shares insights on differentiating true specialists from mere pedigree. The conversation highlights the critical differences between access and selection, emphasizing the importance of filtering for quality managers. Felix also discusses the intricacies of portfolio construction and the importance of operator empathy in making sound investment judgments.

Bradley Tusk, Founder and CEO of Tusk Holdings and former Deputy Governor of Illinois, shares his journey from political strategist to venture capitalist. He reveals his unique investing playbook used to help startups like Uber navigate tough regulations. Tusk discusses the political motivations behind policy, the crypto lobby's impact on the 2024 elections, and his bold $20 million bet on mobile voting to revolutionize democracy. With insights on political engagement, he empowers founders to understand and maneuver the political landscape.

In this engaging discussion, Matt Curtolo, an institutional investor with over 20 years of experience, shares his unique insights on what distinguishes elite limited partners (LPs) from the rest. He emphasizes the critical role of emotional intelligence in investment success and warns against underestimating potential upside. Matt also addresses the real reasons LPs often decline opportunities and explores the complexities of GP-LP dynamics. With invaluable advice for emerging GPs and small LPs, he highlights the importance of trust, collaboration, and long-term thinking in building successful partnerships.