Invest Like the Best with Patrick O'Shaughnessy

Orlando Bravo, co-founder and Managing Partner of Thoma Bravo, shares insights from his extensive experience in private equity and software investments. He discusses the evolution of growth equity, emphasizing the shift towards profitability in tech markets. Orlando explores what it means to be a market leader in cybersecurity, the need for operational improvements in private equity, and the critical role of talent and diversity in fostering innovation. He also offers valuable career advice for young professionals, highlighting the importance of mentorship and hard work.

In this conversation, Nick Saltarelli, co-founder of Mid-Day Squares, discusses his journey in revolutionizing the chocolate industry with his functional chocolate bars. He sets ambitious targets and critiques the CPG landscape, sharing personal insights on resilience after losing his father. Nick emphasizes balancing long-term vision with daily efforts, mentorship experiences, and lessons from Chinese manufacturing. His compelling narrative reveals a commitment to authenticity and community engagement as keys to building a successful brand.

Jenny Johnson, President and CEO of Franklin Templeton, shares her extensive experience in asset management. She discusses her leadership approach, focusing on empathy and strategic planning in navigating modern business challenges. Jenny highlights the growing accessibility of private markets to retail investors and the impact of technology on asset management. The conversation also touches on the intricacies of decision-making, the importance of early investing, and fostering an innovative culture in large companies.

Doug Colkitt is a seasoned trader who transitioned from Citadel’s high-frequency trading to building CrocSwap, a decentralized exchange. He delves into the evolution of trading infrastructure and the role of decentralized finance (DeFi). The conversation covers market making, the mechanics of automated market makers, and risks involved in liquidity pools. Colkitt also discusses the importance of stable coins in DeFi and the integration of traditional financial assets on blockchain, envisioning a future where these technologies coexist harmoniously.

Philip Rosedale, creator of Second Life, and venture capitalist Bill Gurley share insights from their groundbreaking work in virtual worlds. They discuss the billion-dollar economy of Second Life and its continued relevance today. Key topics include usability lessons, the evolving metaverse landscape, and the importance of community-driven platforms. They also explore the challenges of 3D avatar technology and the distinctions between metaverse platforms and gaming experiences, painting a vivid picture of the digital future.

Francis Davidson is the founder and CEO of Sonder, a hospitality brand challenging traditional hotels with tech-driven, design-led offerings. He discusses the crucial role of customer experience and how to balance it with business growth. The conversation highlights his innovative hiring strategies that prioritize culture and performance. Davidson shares insights on how the pandemic transformed the hospitality industry and emphasizes the importance of technology in providing unique guest experiences while pursuing sustainable expansion.

Niraj Shah, the co-founder and CEO of Wayfair, discusses his journey of transforming a collection of niche websites into a dominant online retailer with 22 million products. He dives into the evolving e-commerce landscape, the challenges of logistics, and how Wayfair stands out in the home goods market. Shah shares insights on learning from failures, fostering innovation, and the importance of customer experiences. He envisions a future where exceptional service helps Wayfair double its market share, all while emphasizing the value of a supportive company culture.

In this engaging discussion, Eric Golden, a former Fidelity portfolio manager and proud Bored Ape owner, dives into the Bored Ape Yacht Club phenomenon. He discusses how NFTs are building unique membership communities and not just digital art. Eric shares insights on the complexities of NFT valuations, IP ownership, and how projects differentiate themselves. He also explores the innovative mechanics of mutant apes and the impact of blockchain on the NFT landscape, providing listeners with a deep understanding of this rapidly evolving ecosystem.

Will Marshall, co-founder and CEO of Planet, shares insights about the groundbreaking work of his company in creating a constellation of satellites that capture daily images of Earth. He discusses the transformative innovations in space technology, emphasizing how cost reductions are revolutionizing data collection. The conversation also touches on the ethical dilemmas of managing sensitive data and the implications of real-time environmental monitoring. With a focus on the business models in space imaging, Will's vision for the future of data accessibility is truly inspiring.

Roelof Botha, a partner at Sequoia Capital, reveals the firm's groundbreaking transformation into The Sequoia Fund, signaling a shift away from traditional VC structures. He shares insights from his career, including his experiences at PayPal, Square, and YouTube. The conversation explores the evolution of venture capital, the changing dynamics of entrepreneurship, and the significance of embracing long-term growth strategies. Botha also reflects on the vital differences in business mindsets and the importance of adaptability in today’s fast-paced market.