Invest Like the Best with Patrick O'Shaughnessy

In this engaging conversation, Sarah Friar, CEO of Nextdoor, shares her impressive journey from CFO roles at Square and Salesforce to leading a community-focused platform. She discusses what excellence means in leadership, particularly in fostering meaningful connections within neighborhoods. The dialogue explores the balance between digital engagement and in-person interactions, the challenges of scaling community platforms, and the need for kindness in online spaces. Sarah highlights the importance of transparency and empathy in board leadership, advocating for initiatives that empower local communities.

In this discussion, Arman Gokgol-Kline, a partner at Ruane, Cunniff & Goldfarb, gives a captivating overview of Universal Music Group and the music industry. He delves into the evolution from physical sales to streaming, detailing the impact of Napster on music monetization. Gokgol-Kline highlights the critical role of major labels in today's digital landscape, the complexities of artist contracts, and the significance of live performances. He also addresses the challenges independent artists face and the potential of technology like NFTs in reshaping revenue streams.

Alex Rampell, General Partner at Andreessen Horowitz and fintech innovator, shares his insights on the investment landscape. He discusses the importance of positive selection and why operating systems can yield the best returns. Rampell also delves into the future of fintech, emphasizing the integration of financial services across various industries. With a focus on navigating the balance between distribution and innovation, he illustrates how kindness and networking can unlock entrepreneurial opportunities.

In this engaging conversation, Sam Bankman-Fried, the visionary CEO of FTX, shares his insights on creating a perfect market. He discusses the inefficiencies in current exchanges and the crucial role of derivatives in enhancing trading accessibility. Sam contrasts the dynamic crypto landscape with traditional markets, touching on the importance of transparency and regulation. He also emphasizes the principles of effective altruism and market fairness, along with the impact of technological innovations on the future of finance.

Nick Neuman, CEO and co-founder of Casa, discusses the evolution of asset custody, tracing its roots from ancient temples to modern decentralization. He emphasizes the critical role of private keys in cryptocurrency security and advocates for self-custody over third-party services. The conversation explores the future of digital wallets and identity authentication, shedding light on the complexities of managing keys while balancing security and peace of mind. Neuman also shares insights on the transformative potential of decentralized finance, enhancing user autonomy in the crypto space.

Devin Finzer, co-founder and CEO of OpenSea, the leading NFT marketplace, shares his riveting journey through the world of digital assets. He discusses the unique challenges and opportunities of building OpenSea, the importance of NFTs in cultural identity, and the potential future of blockchain technology. The conversation delves into the complexities of transaction fees, the evolving NFT ecosystem, and the risks of unregulated markets. Devin's insights reveal how NFTs can foster community and serve as innovative expressions of self.

Jenny Lefcourt, a General Partner at Freestyle Capital, shares her extensive tech experience and insights into seed-stage investing. She emphasizes the importance of understanding customer needs as the foundation for founder success. Jenny discusses her favorite investment themes, including tech for the aging population and the rise of low-code/no-code tools. She delves into effective go-to-market strategies and the evolving dynamics of remote work, highlighting the critical role of fostering inclusivity and innovation in the tech landscape.

Dave Girouard, co-founder and CEO of Upstart and former leader at Google and Apple, dives into the future of lending with AI. He reveals how speed can revolutionize decision-making in business. The discussion highlights the evolution of credit scoring and the revolutionary role of technology in lending. Girouard emphasizes that lending presents vast opportunities for innovation, often overlooked in fintech. He also addresses AI bias and the importance of data in creating fair lending practices, providing valuable insights for aspiring entrepreneurs.

Jay Hoag, co-founder of TCV, shares his wealth of experience in venture capital, having backed giants like Netflix and Airbnb. He reflects on the evolution of investing, emphasizing the shift from hardware to software. Jay discusses the challenges of investing in innovative companies like Peloton and the necessity for long-term vision. He also explores how technological disruptions have opened up new opportunities, including cryptocurrency. Throughout, he highlights the importance of exceptional talent and resilience in driving success.

Gina Bianchini, Founder and CEO of Mighty Networks, shares insights on empowering creators to build their own social communities. She discusses the distinction between leadership and management, emphasizing the importance of enthusiasm and kindness in cultivating meaningful connections. Bianchini reflects on her entrepreneurial journey, highlighting the necessity for genuine, purpose-driven communities that defy traditional social media challenges. She also touches on community design, encouraging listeners to create movement and connect like-minded individuals.