Invest Like the Best with Patrick O'Shaughnessy

Sridhar Ramaswamy, co-founder and CEO of Neeva, shares his journey from leading Google's ad business to creating an ad-free search engine focused on privacy. He discusses the evolution of search technology, emphasizing user experience and personalization. Ben Claremont from Cove Street Capital adds insights on investment processes and the importance of mentorship. Together, they explore the challenges of traditional advertising models and the balance between revenue opportunities and user satisfaction.

In this conversation, Ernie Garcia, co-founder and CEO of Carvana, shares his journey transforming the auto buying experience with innovative digital solutions. He discusses the shift from traditional dealerships to technology-driven platforms and the crucial role of logistics in customer satisfaction. The conversation highlights the significance of long-term thinking in business and how Carvana's unique branding, including car vending machines, captures consumer interest. Shanak Amin from SnackMagic also shares insights on adaptability in business during challenging times.

Karen Karniol-Tambour, Partner and Co-CIO for Sustainability at Bridgewater Associates, shares her insights on vital market dynamics. She dives into inflation, monetary policy, and the rising importance of ESG factors for investors. With her talent for simplifying complex ideas, Karen discusses the implications of these themes on investment strategies. She also offers a fresh perspective on navigating the evolving landscape post-COVID and highlights the significance of mentorship and honest feedback in personal development.

Sebastian Mejia, co-founder and president of Rappi, shares his insights on transforming on-demand convenience in Latin America. He discusses how Rappi stands out among delivery apps by understanding local consumer behavior and integrating various business sectors. Sebastian highlights the rise of instant delivery and its effects on grocery shopping and brand loyalty. He also delves into innovative loyalty programs using cryptocurrency, emphasizing the potential of tech in the region as well as the importance of support and resilience in entrepreneurship.

Carl Kawaja, a seasoned portfolio manager at Capital Group, shares decades of wisdom on long-term investing. He discusses his criteria for building conviction in volatile markets and reframes uncertainty as a healthy aspect of investing. Carl highlights personal investment experiences with TSMC and Vale, illustrating how unique resources create competitive advantages. With engaging metaphors like river rafting, he emphasizes resilience and adaptability in navigating the ever-changing investment landscape. His insights make a compelling case for embracing failure as part of the journey.

Stewart Butterfield, founder and CEO of Slack, delves into the powerful insights from his influential essay, “Why We Don’t Sell Saddles Here.” He discusses the owner's delusion and the critical balance between product innovation and market understanding. The conversation explores how to shift consumer mindsets when introducing groundbreaking tools, emphasizing the importance of aligning user needs with innovative solutions. Stewart also reflects on his journey from game development to revolutionizing communication, showcasing the role of leadership in fostering creativity and accountability.

Steve Mandel, founder of Lone Pine Capital, shares his insights from decades in the investing world. He discusses the evolution of investment strategies since the 1980s and the challenges of shorting stocks today. With captivating anecdotes, he reflects on Walmart's early days, emphasizing leadership and culture's role in success. Mandel explores how technology reshapes financial markets and highlights innovative business practices, like Costco's sourcing strategy, and the disruption in digital payments. Each story reveals the thrilling intersection of change and investment.

Spenser Skates, CEO and co-founder of Amplitude Analytics, shares his journey from programming to building a product analytics powerhouse. He challenges traditional startup norms, discussing equity compensation and the nuances of venture capital. A key highlight is his collaboration with Calm, optimizing customer growth through data-driven insights. Spenser advocates for direct listings over IPOs, emphasizing transparency in market entry. He also champions the role of kindness and mentorship in entrepreneurship, offering valuable perspectives on fostering supportive business environments.

David Sacks, General Partner at Craft Ventures and founding COO of PayPal, shares insights into differentiated strategies for Enterprise SaaS versus DTC subscriptions. He discusses the formula for successful product launches and the critical growth metrics that drive success. Sacks emphasizes the importance of operational cadence within organizations to improve alignment and efficiency. He also reflects on the unique talents within the original PayPal team, revealing how effective leadership shapes the culture and trajectory of tech startups.

David Vélez, founder and CEO of Nubank, shares insights from his journey in building the world’s largest digital bank with over 40 million customers. He discusses the transition from venture capital to entrepreneurship in Latin America, emphasizing the unique challenges and opportunities of a branchless banking model. David also reflects on leadership lessons from Nubank's early days and the importance of adapting to market dynamics in emerging economies. The conversation dives into innovative customer acquisition strategies and the evolving landscape of rewards programs in banking.