Recognizing the Need for Outside Talent and Building a Successful Team | 1min snip from Invest Like the Best with Patrick O'Shaughnessy

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Brad Gerstner and Rich Barton – Thriving in Changing Markets - [Invest Like the Best, EP.197]

Invest Like the Best with Patrick O'Shaughnessy

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Recognizing the Need for Outside Talent and Building a Successful Team

We recognized the need for experts in our industry and aggressively brought in talent from other fields. We brought in experienced individuals like Eric Prower who had successfully managed thousands of rental homes before. We also hired leaders from the mortgage industry. This willingness to bring in outside talent and build a diverse team is crucial for success during transitions. So, Brat, what are your thoughts on this and can you think of any other companies that have gone through a similar transition?

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My guests today are Rich Barton and Brad Gerstner. Brad is the founder of Altimeter Capital and is one of my favorite active investors. Brad and Altimeter were one of the largest investors in Snowflake in its earlier days and continue to invest in iconic modern businesses with an extreme focus. Rich has one of the most impressive resumes in the business world. He founded Expedia, Glassdoor, and Zillow; He’s a longtime Netflix board member, since before they went public; he’s a venture partner at Benchmark Capital; and he give back through the Barton family foundation. Our conversation covers Rich’s “power to the people,” strategy, Brad and Rich’s perspectives on taking companies public through SPACs vs. IPOs, and their perspectives on how to build a great company. This one is so fun, we even discuss how to come up with company names, talk about the importance Wizard of Oz, and explore the importance of big hairy audacious goals. I really enjoyed this conversation with two of the smartest people I know, and I hope you will too.

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For more episodes go to InvestorFieldGuide.com/podcast.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

(2:59) – (First question) – How Brad and Rich met

(5:57) – The instant click between them

(7:21) – The power to the people perspective

(7:29) – Brad Gerstner Podcast Episode

(10:21) – Delivering information to consumers

(11:31) – The investing perception of data-delivery businesses

(13:54) – How they use SPACs

(17:38) – How entrepreneurs view SPACs

(20:17) – Lessons from their involvement in Altimeter Growth Corp