Invest Like the Best with Patrick O'Shaughnessy

David Senra, a dedicated historian of entrepreneurs, draws insights from numerous biographies of iconic figures like Estée Lauder and John Rockefeller. He explores the obsession and passion that drive founders, revealing how early experiences shape their journeys. Senra discusses the dual nature of ego in entrepreneurship, emphasizing humility alongside confidence. He also highlights the importance of continuous learning and the emotional endurance required in the face of adversity, showing how personal struggles can fuel success.

David Einhorn, President of Greenlight Capital and a renowned value investor, shares his insights on navigating the investment landscape. He discusses his notable short positions, like those in Lehman Brothers and Allied Capital. The conversation touches on the evolution of investing strategies since 1996, addressing current banking issues and macroeconomic factors. Einhorn also reflects on the psychological aspects of investing, the impact of AI on valuations, and the importance of contrarian approaches in today's market.

Avi Goldfarb, a Professor at the University of Toronto’s Rotman School of Management and co-author of influential books on AI, dives deep into the transformative power of artificial intelligence. He discusses how AI reshapes business models and productivity, alongside the critical shift from rule-based to decision-based frameworks prompted by the pandemic. Goldfarb highlights the disruptive potential of AI across industries while addressing concerns about job displacement and inequality, advocating for mentorship in navigating these changes.

Auren Hoffman, CEO of SafeGraph and founder of LiveRamp, shares his expertise on the intricate world of data businesses. He breaks down the dynamics of data, discussing pivotal metrics like Customer Acquisition Cost and the rise of co-operative models. Hoffman emphasizes the significance of data integrity while exploring innovative data-sharing strategies. The conversation takes a delightful turn as he offers tips on hosting a memorable dinner party, blending meaningful conversation with strategic planning to entertain both introverts and extroverts.

Trae Stephens, a partner at Founders Fund and co-founder of Anduril, dives into mission-driven technology. He emphasizes the need for engineers to pursue societal benefits and discusses the transformation of defense innovation. Trae explores the importance of lobbyists, debunking myths about their role, and highlights key traits for entrepreneurs, such as disagreeableness. He also shares insights on modern nuclear deterrence and introduces innovative ideas like VR to enhance reading experiences, underscoring the significance of virtue in personal growth.

Doug Leone, former leader of Sequoia Capital, shares his journey of transforming a small fund into an $85 billion powerhouse. He reflects on overcoming early hardships, the importance of simplicity in investment strategies, and balancing toughness with care in leadership. Leone discusses navigating the venture capital landscape, recognizing talent, and common pitfalls investors face. His insights emphasize adaptability in a changing market and the value of transparent communication in building trust with investors.

Tim Urban, author of "What's Our Problem?", dives into profound societal issues and the intricacies of human thought. He shares his seven-year writing journey, tackling procrastination and the demands of deep thinking. Urban breaks down political polarization, advocating for nuanced discourse and the significance of intellectual honesty. He critiques the balance of social justice and free speech while exploring leadership's vital role in navigating crises. And he addresses the responsibilities of creators in the age of AI, urging thoughtful dialogue on its implications.

Dan Rose, Chairman of Coatue Ventures, brings a wealth of experience from his time at Amazon and Facebook, where he collaborated with tech giants like Jeff Bezos and Mark Zuckerberg. He discusses the transformation of the Kindle and the innovative leadership strategies that fueled its success. Rose emphasizes how constraints can spark creativity and the critical role of strong partnerships in tech. He shares insights on navigating product launches at Facebook, illustrating the balance between user feedback and engagement, alongside his thoughts on mentorship and investment strategies.

Jeff Green, CEO and co-founder of The Trade Desk, shares insights from his journey of building a $30 billion advertising platform. He discusses the importance of culture, advocating for vulnerability and emotional intelligence in leadership. The conversation explores the complexities of modern digital advertising and the challenges of aligning interests among stakeholders. Green emphasizes ethical transparency and trust as key components of scaling a business. He also highlights the role of technology in optimizing ad spending and improving the buying process.

Carl Kawaja, a seasoned portfolio manager at Capital Group, shares his deep insights on the changing landscape of capital markets. He discusses the impact of rising capital costs and industry layoffs while emphasizing the importance of adaptability in investment strategies. Intriguingly, he draws parallels between Muhammad Ali’s boxing ring tactics and the need for flexible approaches in investing. Kawaja also explores unique perspectives from the Amazonian Piraha tribe and shares lessons from a transformative Norwegian CEO, illustrating innovation in diverse fields.