Invest Like the Best with Patrick O'Shaughnessy

Madhavan Ramanujam, author of "Monetizing Innovations," shares his expertise on product pricing strategies used by industry giants like Porsche and Uber. He highlights common pricing mistakes and underscores the importance of focusing on customer benefits rather than features. Listeners will learn how integrating pricing early in product development can enhance market fit. Madhavan also discusses effective product configuration and the complexities of choosing between subscription and usage-based models, aiming to align pricing with genuine customer value.

Daryl Morey, the President of basketball operations for the Philadelphia 76ers, revolutionized the game with his analytics-driven approach known as 'Moreyball.' He delves into negotiation tactics learned at Harvard, emphasizing the need to challenge implicit biases. The conversation explores the intricate balance of skill and luck in basketball, highlighting how data shapes strategy. Morey also discusses the significance of organizational culture, adapting to career challenges, and the lessons that come from overcoming struggles. It's a thought-provoking examination of modern sports management!

Michael Ovitz, the legendary co-founder of CAA, shares insights from his iconic journey in Hollywood and his transition to investing. He discusses the importance of creativity and the impact of friendships on innovation. Ovitz emphasizes the necessity of a relentless work ethic and positive industry relationships while highlighting the significance of an offensive mindset in investing. Reflecting on art's role in film, he shares anecdotes about honesty and the challenges of work-life balance, offering heartfelt stories that showcase kindness in tough times.

Erik Serrano, CEO of Stable Asset Management, shares insights from his journey in the investment world, having scaled his firm to over $3 billion in AUM. He discusses the unique challenges faced by young investment founders and the importance of personal history and adaptability. Erik emphasizes the qualities of a successful General Partner, focusing on alignment with firm objectives and the need for transparency. The conversation also explores the significance of building trust and emotional connections in investment relationships, balancing financial success with integrity.

Doug Leone, former Sequoia Capital partner, shares wisdom from his 25+ years in venture capital. He discusses the importance of keeping investment strategies simple and transparent, offering insights on go-to-market motions and trust-building with founders. Leone reflects on his evolution from leader to mentor, emphasizing resilience and the value of genuine relationships in navigating the ever-changing investment landscape. He also highlights the critical choices between venture capital and entrepreneurship, advocating for alignment with one's strengths and passions.

Justin Ishbia, Founding Partner of Shore Capital, shares insights from acquiring nearly 600 companies in the microcap space. He discusses the importance of systematic approaches and building strategic boards to drive success. Ishbia emphasizes investing in healthcare, exploring negotiation complexities, and fostering internal talent to develop future leaders. He introduces the concept of 'innovation stacking' as a method to gain competitive advantages. The conversation also touches on mentorship’s role in personal and professional growth, highlighting lifelong friendships.

In this conversation with Gavin Uberti, the 21-year-old founder of Etched, listeners are taken on an exciting journey through the evolving landscape of AI hardware. Uberti discusses the potential of purpose-built AI chips, highlighting how they could revolutionize efficiency and cost-effectiveness for models like GPT-4. He also touches on the implications of AI on human creativity, the evolution from GPUs to specialized chips, and the significant role mentorship plays in engineering education. This youthful innovator offers a hopeful glimpse into the future of technology.

Join John Collison as he converses with the late Charlie Munger, Vice Chairman of Berkshire Hathaway, known for his sharp investment strategies and unparalleled wisdom. They dive deep into the vital intersection of ethics and capitalism, critiquing monopolistic behaviors in business. Munger shares insights on investing, notably his cautious stance on tech giants like Amazon. The discussion also touches on the legitimacy of gold versus cryptocurrency, and Munger’s reflections on personal happiness through family dynamics, making for a thought-provoking listen.

Peter Fenton is a General Partner at Benchmark, with a stellar two-decade track record in tech investing. Victor Lazarte, also a General Partner, previously built Wildlife Studios into a mobile gaming giant. They discuss the critical role of shared purpose in partnerships, the unique culture of Benchmark, and their transition from builders to investors. Insights on navigating the evolving tech entrepreneurship landscape reveal the importance of genuine relationships, mental health, and the creative interplay between technology and gaming innovations.

Lior Susan, the Founder of Eclipse Ventures and a former Israeli special forces member, shares his journey from military leadership to tech entrepreneurship. He discusses the profound emotional impact of the October 7 terror attacks and advocates for dialogue and understanding in the midst of conflict. Lior emphasizes the critical need to revitalize physical industries through technology, reinforcing democratic values and unity. He critiques leadership failures while promoting a collaborative approach to achieving peace and societal resilience.