Forged in America

Austin Berg is Executive Director of the Chicago Policy Center, and the Illinois Policy Institute. Austin is an award winning author, and has written a book called The New Chicago Way. He also made a documentary about Chicago Teachers Union called "Local One."Austin discusses with Ravin and Al the challenges facing Chicago, including its governance issues, economic decline, public safety concerns, and the failing education system. He emphasizes the need for reform in these areas, particularly the influence of the Chicago Teachers Union and the importance of school choice. The discussion also touches on the political dynamics in the city and the necessity for community engagement to drive change. Berg advocates for a more accountable and effective governance structure to revitalize Chicago and improve the lives of its residents.Disclaimer: The Forged in America podcast features personal stories, experiences, and opinions from hosts Al Goldstein and Ravin Gandhi. This content is for informational and entertainment purposes only and is not investment advice, financial advice, solicitation of investments, or any form of professional recommendation.We strive for accuracy, but mistakes can happen and are unintentional. Nothing discussed should be relied upon for making financial, business, or personal decisions. Always consult qualified professionals before acting on anything you hear.Past performance or results mentioned do not guarantee future outcomes. Listeners are responsible for their own choices.

Rich Heise, Chicago tech investor and entrepreneur who founded Magnitude Networks and backed companies like Groupon and Echo, recounts his Silicon Valley and Midwestern journey. He talks about timing in tech, building repeatable business models, navigating IPOs and partnerships, and why he keeps launching startups. He also shares stories about resilience, community rituals like Old Man Hoops, and managing wealth and legacy.

Ravin and Al discuss entrepreneurship, market dynamics, and personal journeys with Vishal Garg, the founder of Better.com. The discussion covers Vishal's early life, his experiences in the fintech industry, and the challenges he faced while building his company. The conversation emphasizes the importance of risk management, the value of meritocracy, and the impact of cultural identity on personal and professional growth. He reflects on the challenges faced during the financial crisis, the resilience built through partnerships, and the invaluable lessons learned from family and mentorship. The discussion also covers the inception of Better.com, the impact of COVID-19 on the business, and the strategic decisions made during market fluctuations which created public blowback. Vishal's vision for the future highlights the role of technology and innovation in transforming the financial industry.Disclaimer: The Forged in America podcast features personal stories, experiences, and opinions from hosts Al Goldstein and Ravin Gandhi. This content is for informational and entertainment purposes only and is not investment advice, financial advice, solicitation of investments, or any form of professional recommendation.We strive for accuracy, but mistakes can happen and are unintentional. Nothing discussed should be relied upon for making financial, business, or personal decisions. Always consult qualified professionals before acting on anything you hear.Past performance or results mentioned do not guarantee future outcomes. Listeners are responsible for their own choices.

In the world of elite military training, few experiences are as grueling and transformative as that of a Navy SEAL. In episode 9 of the podcast "Forged in America," hosts Ravin Gandhi and Al Goldstein had an insightful conversation with Rick Kaiser, a former Navy SEAL with an impressive 34-year career, including 25 years in SEAL Team Six. As a Silver Star recipient for his leadership during the Battle of Mogadishu, Rick's story is not just about physical endurance but also about the mental toughness that defines true leadership.Main Content:1. The Journey of a Navy SEALRick Kaiser’s journey began in a challenging environment where only the strongest survive. He recalls the infamous Hell Week, part of the rigorous Basic Underwater Demolition/SEAL (BUD/S) training, where 150 recruits began, but only 30 emerged as SEALs. During one particularly demanding night, Rick faced his lowest moment when he fell into a mindset of self-pity. "That was my lowest moment because that's when I actually felt sorry for myself," he shared, emphasizing that overcoming negativity is key to pushing through hardships.2. The Power of TeamworkRick highlights that the SEAL teams operate on a foundation of teamwork. "There are seven or eight or more support folks for every one SEAL," he explains, stressing that every member's contribution is vital. This philosophy extends beyond military operations; it applies to any organization where teamwork is crucial for success. When individuals attempt to take shortcuts or shirk responsibilities, it not only affects their performance but also impacts the team dynamic. Rick notes, "If that's their mindset going into something like this, it's just going to reflect on everything else they do."3. Mental Toughness Over Physical StrengthThe podcast delves into the mental versus physical aspects of training. Al Goldstein shares his experience at a mini Hell Week for CEOs, where he observed that the best athletes struggled as the challenges became more mental than physical. Rick agrees, stating, "Individual sports like wrestling or swimming, where it's really just you out there competing, are more successful at going through training like BUD/S." He emphasizes that understanding one’s limits and pushing through them is essential for both military and civilian leaders.4. Cultivating Leadership SkillsRick believes that leadership is a skill that can be developed over time. He states, "If you don’t believe you’re the best SEAL, there’s no sense in being there." This mindset fosters resilience and accountability. As young recruits, they take on significant responsibilities early, such as managing weapons and ammunition, which builds their leadership abilities. Rick emphasizes, "You have to make sure that they know what they’re doing and can accomplish the mission."Conclusion:Rick Kaiser's experiences as a Navy SEAL offer profound insights into leadership, resilience, and the power of teamwork. His journey underscores the importance of mental toughness and the ability to overcome adversity. For aspiring leaders and entrepreneurs, the key takeaways are clear: embrace teamwork, cultivate resilience, and never underestimate the power of the mind in achieving success.Key Takeaways:- Mental toughness is as crucial as physical strength in overcoming challenges.- Teamwork is essential for success; every member plays a vital role.- Leadership skills can be developed through responsibility and accountability.- Embracing a positive mindset can help one push through adversity.Tags: Navy SEAL, Leadership, Resilience, Teamwork, Mental Toughness, Entrepreneurship, Personal Development, Podcast Insights

In this episode of "Forged in America," hosts Ravin Gandhi and Al Goldstein welcome Dmitry Balyasny, founder and CEO of Balyasny Asset Management (BAM), to discuss his remarkable journey from a young immigrant to leading a multi-strategy hedge fund managing over $30 billion. The conversation begins with the impact of Ayn Rand's philosophy on his entrepreneurial mindset. Dmitry shares insights on the importance of perseverance, the challenges of building a successful business, and the unique culture at BAM that fosters collaboration and innovation among partners and employees.Dmitry elaborates on the intricacies of managing a hedge fund, including the balance between risk and reward, the significance of hiring the right talent, and the evolving landscape of the financial markets. He emphasizes the need for a strong psychological foundation in traders, the importance of humility, and the value of continuous learning. The episode continues with Dmitry's thoughts on the current state of the market, the influence of technology, and his commitment to nurturing young talent through various programs at BAM. Dmitry shares his experiences navigating the tumultuous financial landscape during the 2008 crisis, emphasizing the importance of liquidity and investor trust. He reflects on the competitive nature of the industry, the role of AI in enhancing decision-making, and the importance of maintaining a balance between personal and professional life, especially as a father of six.The conversation delves into the future of finance, touching on the potential of AI and blockchain technology. Dmitry expresses a nuanced view on cryptocurrencies, recognizing their utility in emerging markets while remaining skeptical about their value in developed economies. He concludes with an optimistic outlook on technological advancements and their potential to drive progress, while cautioning against philosophical shifts that could hinder innovation. The episode wraps up with a light-hearted lightning round, revealing Dmitry's favorite books and movies, and his thoughts on fitness and family life.

In Episode 7, Ravin and Al discuss the current economic outlook, the implications of credit card debt, immigration, and the public's perception of fraud.  They highlight the significance of social skills in raising children, how AI may change the landscape of education and employment, and the necessity of taking risks in both personal and professional life. They discuss how self-belief and responsiveness can lead to success, the challenges of navigating relationships as one becomes successful, and the significance of being a 'force of nature' in achieving goals. The conversation also touches on the future of elder care through technology, economic growth, and the importance of preventative health care. They also delve into the importance of voter ID laws and the role of family structure in society.

Founder and CEO of Madison Industries Larry Gies chats with Ravin and Al about building a business, finding purpose, raising kids, donating 250M to University of Illinois, and fixing the USA.Forged in America is a conversation between longtime friends and entrepreneurs Ravin Gandhi and Al Goldstein who have built and sold numerous businesses. Al founded fintech unicorn Avant, real estate firm Pangea, and Stoic Lane. Ravin founded GMM Nonstick Coatings, a $100M supplier to the USA housewares industry that serves 40M Americans each day. Al and Ravin are also experienced early stage investors, investing in deals such as Apptronik, KeyMe, Morning Consult, Kin Insurance, Hester Biosciences, Throne Labs, Natrion and Patient IQ that collectively have raised billions in funding.

Ted Koenig, Founder and CEO of Monroe Capital, joins Al and Ravin for a candid discussion about seeing around corners, building a $25B empire in private credit, city and national politics, parenting, and leadership.Forged in America is a conversation between longtime friends and entrepreneurs Ravin Gandhi and Al Goldstein who have built and sold numerous businesses. Al founded fintech unicorn Avant, real estate firm Pangea, and Stoic Lane. Ravin founded GMM Nonstick Coatings, a $100M supplier to the USA housewares industry that serves 40M Americans each day. Al and Ravin are also experienced early stage investors, investing in deals such as Apptronik, KeyMe, Morning Consult, Kin Insurance, Hester Biosciences, Throne Labs, Natrion and Patient IQ that collectively have raised billions in funding.

U.S. Congressman Dan Crenshaw joins Forged in America for a raw conversation with Ravin and Al on media bias, populism, and why America is harder to break than people think. Also the challenges of running for office, losing an eye, and staying sane in the most politicized era of our lifetimes.Forged in America is a conversation between longtime friends and entrepreneurs Ravin Gandhi and Al Goldstein who have built and sold numerous businesses. Al founded fintech unicorn Avant, real estate firm Pangea, and Stoic Lane. Ravin founded GMM Nonstick Coatings, a $100M supplier to the USA housewares industry that serves 40M Americans each day. Al and Ravin are also experienced early stage investors, investing in deals such as Apptronik, KeyMe, Morning Consult, Kin Insurance, Hester Biosciences, Throne Labs, Natrion and Patient IQ that collectively have raised billions in funding.

Dag Kittlaus, founder of Siri and serial entrepreneur in conversational AI, shares his journey from founding Siri to healthcare innovations. He recounts the intense moments leading up to Apple's acquisition, including daily calls from Steve Jobs. After a health scare with a pancreatic tumor, Dag pivoted to health tech, developing a phone-based blood pressure app. He reflects on the challenges of working with friends, the societal impacts of AI, and instilling responsibility in his children despite success. It's a candid look at entrepreneurship and resilience.