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Buzzer beater for future USF Don Andrew Hilman. Impossible shot. Final: Riordan 53, St. Ignatius 51. ⁦Riordan Athletics⁩

52,146 просмотров • 7 месяцев назад •via X (Twitter)

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Andrew Reed has quietly become one of the best growth investors of his generation. This is his first long form interview. I talked to Andrew Reed about conviction under pressure, what great founders look like, and how humanity and competitiveness coexist inside Sequoia Capital. Andrew is a growth investor at Sequoia Capital, which he joined at 23. He led his first investment 4 years later into Robinhood, and he has partnered with Figma, Klarna, Phantom, @VantaInc, , MUBI, Strava, and more. We discuss: - People over spreadsheets, every time - Why great companies often have a few metrics screaming red and others screaming bright green - Investing $200M into Robinhood during the first week of COVID - How he developed conviction on Vanta in 14 seconds - Why the hardest round to invest in is the one after you first invest - Craft as a commercial input - Writing memos through the night as a gut check on conviction - why Sequoia's extreme performance culture is empowering - What he's learned from Doug Leone, Mike Moritz, and Pat Grady Timestamps: 0:00 - Opening Highlights 2:02 - Intro: Andrew Reed 3:50 - Thanks to Notion 5:23 - Start: Humanity, Spotting Weird, and Competitiveness 19:07 - Investing & Great Founders 37:53 - Andrew's Style, Pat Grady, and Continuous Learning 47:31 - Doubling Down and Not Flinching 56:09 - Empathy on Boards, Learning the Real Business, "Expensive" Prices, and Selling 1:07:18 - Managing Ego and Becoming a Leader 1:14:08 - Craft as a Commercial Input, Knowing vs. Feeling, Preparing for Big Days, Becoming a Great Closer 1:28:39 - Sequoia Capital 1:38:57 - Don Valentine, Mike Moritz, and Doug Leone 1:51:29 - Closing Questions Dialectic with Jackson Dahl Ep. 39: Andrew Reed - Don't Flinch - is out now, below and on all platforms.

Jackson Dahl

266,399 просмотров • 6 месяцев назад

Excellent write-up. "Fired as banker. Then 90 deals and A$50m of EBITDA" Brett worked at several accounting firms and became frustrated by their management and ownership structures... left and launched his own. Brett Kelly initially expected to own 75% but changed the structure to 51% for Kelly+Partners and 49% for the local partner. An owner who wants to fully cash out will never take this deal, but those who want more upside will find that selling 51% makes total sense. It's important to add that KPG targets 35% subsidiary EBITDA margins, compared with an industry average of roughly 18% to 19%. Enjoy. Timestamps: 0:00 Brett Kelly's early years and losing his job at 22 3:57 Writing to 80 successful Australians while unemployed 9:13 The moment Brett decided to start his own firm 12:24 Launching Kelly Partners with a clear long-term vision 13:22 Inspired by Disney, McDonald's, Ritz-Carlton & Berkshire Hathaway 17:10 Choosing the right clients and creating a business system 18:36 The 204-step operating system behind Kelly Partners 19:01 The acquisition strategy: becoming #1 or #2 in local markets 24:05 Winning clients through a differentiated value proposition 28:27 Lessons learned from 95 acquisitions 29:06 Why the 51/49 ownership model works 31:39 What types of firms Kelly Partners acquires 32:59 Capital allocation and building a capital-efficient roll-up 34:30 Doubling profits after acquisitions: the biggest lever 35:18 AI, accounting, and the future of professional services 36:28 Permanent capital vs. traditional private equity 37:20 Brett's biggest challenge today: financing growth 37:53 Kelly Partners' 17-step hiring process 38:28 The future: building a global accounting platform 39:45 Focus, systems, and operating at world-class standards 41:17 Why passion and meaning matter in business 43:05 How accountants can genuinely improve people's lives 44:24 Final thoughts on leadership, culture, and making a difference 45:32 30% revenue CAGR, 35% book value growth & 90+ acquisitions

PrivateEquityGuy (Mikk Markus)

35,952 просмотров • 1 месяц назад

My dear friend, Vlad Tenev, changed the landscape of investing forever! The rise of the retail investor is largely due to Robinhood's success... and in this new Journey Man, we discuss it all... Enjoy! 00:00 - Intro 00:53 - Introducing Vlad Tenev of Robinhood 01:27 - Why Take on Wall Street? 01:54 - Robinhood’s Zero-Fee Origin Story 02:53 - Inspiration from Instagram and Uber 04:24 - Reimagining Trading for Mobile 05:05 - The Challenge of Disrupting Finance 05:42 - Why Everything Is Hard 06:34 - Early Wrong Assumptions 07:42 - Raising Capital with a Small Vision 08:48 - Funding Robinhood on AngelList 09:50 - Early Investors Changed Their Lives 10:38 - The Crypto Explosion Begins 11:07 - Considering a Bitcoin Exchange First 12:17 - Bitcoin’s Early Skepticism and Growth 13:08 - Robinhood Launches Crypto in 2018 14:03 - 2020: Crypto Revenue Surges Overnight 15:04 - The Challenge of Crypto Cyclicality 16:11 - Staffing a Volatile Business 17:10 - Building Robinhood’s Lean Crypto Team 18:46 - Robinhood’s First Crypto Event Coming 19:38 - Where TradFi Meets DeFi 20:34 - Tokenizing Everything 21:09 - Robinhood’s Vision for Crypto + Finance 21:47 - Thoughts on Crypto Options Demand 23:04 - Why Crypto Options Haven’t Taken Off 24:09 - Millennials and the Speculative Economy 25:22 - Democratizing Trading for Everyone 26:08 - Why Buy-and-Hold Doesn’t Work for All 27:15 - Trading vs Investing: A Matter of Wealth 28:01 - Trading as a Skill Anyone Can Build 29:13 - Robinhood’s Role in Onboarding Millions 30:06 - The Fed's Role and Retail Insight 31:03 - The Rise of the Retail Macro Trader 32:17 - Helping Users Succeed with Robinhood Strategies 33:35 - Power of Community and the Hive Mind 34:55 - Will AI Disrupt Community Too? 36:14 - Technological Waves and Investor Opportunity 37:10 - Human Purpose in an AI World 37:52 - Tokenizing Human Connection 38:28 - Creators, Platforms, and Future-Proofing 39:26 - Vlad’s Long-Term View of the Future 40:05 - Financial Services at the Heart of Disruption 41:14 - If AI Replaces Jobs, What Happens to Investing? 42:25 - Entering the Economic Singularity 43:31 - What Happens When AIs Win the Markets? 44:16 - AI's Role in Capital and Markets 45:07 - Will AI Eliminate Human Emotion from Markets? 46:06 - HFT: The Original AI Traders 47:20 - AI and Long-Term Probabilistic Forecasting 48:48 - GPUs, Gaming, and the Origins of AI 50:01 - Nvidia, CUDA, and Wall Street Arms Races 51:04 - Flash Boys and Microwave Trading 51:54 - Will AI Costs Go to Zero? 52:52 - Lower Cost, Higher Usage 53:41 - Robinhood’s UX Won’t Be Just a Chatbox 55:16 - Cortex: AI-Powered Features at Robinhood 56:54 - Tokenization and the Future of Asset Management 57:44 - Crowdsourced, Tokenized Hedge Funds 58:48 - Portability of Tokenized Assets 59:39 - Blockchain as the New Rails of Finance 01:00:09 - The Trump Token and Capital Formation 01:01:00 - Capital Access Unlocks Innovation 01:01:49 - Why Crypto Needs Regulatory Clarity 01:03:17 - From Meme Coins to Real Assets 01:04:17 - Crypto's Path to $100 Trillion? 01:05:15 - The Financial System Will Run on Blockchains 01:06:00 - Platform Layer vs Application Layer Wealth 01:06:29 - AI Raises Money and Launches Tokens 01:07:39 - AIs Creating Software and Capital Formation 01:08:00 - Final Thoughts: A Wild Future Ahead 01:08:20 - When Will Vlad Buy a CryptoPunk? 01:08:51 - Wrapping Up: AI, Crypto, and the Road Ahead

Raoul Pal

172,640 просмотров • 1 год назад

Convention wisdom is that bioweapons are humanity's greatest weakness – 100x cheaper to make than to defend against. Andrew Snyder-Beattie thinks conventional wisdom is likely wrong. He has a plan cheap enough to do without government. Useful even in worst case scenarios like mirror bacteria. Effective enough to save most people. In one of my all-time fav interviews he lays out a low-tech 4-step approach developed by his research team at Open Philanthropy, to fix a problem most have thought unsolvable. ASB is hiring for many roles in this project from logistics to biotech to manufacturing, and has $100s millions to deploy. Enjoy, links below! 2:10 How bad it could get 9:19 The worst-case scenario: mirror bacteria 18:14 Why low-tech 25:30 Prevention 31:21 The “4 pillars” plan 33:09 ASB is hiring now to make this happen 35:11 Everyone was wrong: biorisks are defence dominant 40:23 Pillar 1: Lungs 55:53 Pillar 2: Biohardening 1:15:19 Pillar 3: Detection 1:28:40 Pillar 4: The wrench hypothesis 1:40:12 The plan's biggest weaknesses 1:44:44 Would chaos make this impossible to pull off? 1:51:50 Would rogue AI make bioweapons? 1:57:57 We can feed the world even if all the plants die 2:07:03 Could a bioweapon make the Earth uninhabitable? 2:09:35 What ASB is hiring for 2:30:27 How to protect yourself and your family (On the 80,000 Hours Podcast, available anywhere you get podcasts.)
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Convention wisdom is that bioweapons are humanity's greatest weakness – 100x cheaper to make than to defend against. Andrew Snyder-Beattie thinks conventional wisdom is likely wrong. He has a plan cheap enough to do without government. Useful even in worst case scenarios like mirror bacteria. Effective enough to save most people. In one of my all-time fav interviews he lays out a low-tech 4-step approach developed by his research team at Open Philanthropy, to fix a problem most have thought unsolvable. ASB is hiring for many roles in this project from logistics to biotech to manufacturing, and has $100s millions to deploy. Enjoy, links below! 2:10 How bad it could get 9:19 The worst-case scenario: mirror bacteria 18:14 Why low-tech 25:30 Prevention 31:21 The “4 pillars” plan 33:09 ASB is hiring now to make this happen 35:11 Everyone was wrong: biorisks are defence dominant 40:23 Pillar 1: Lungs 55:53 Pillar 2: Biohardening 1:15:19 Pillar 3: Detection 1:28:40 Pillar 4: The wrench hypothesis 1:40:12 The plan's biggest weaknesses 1:44:44 Would chaos make this impossible to pull off? 1:51:50 Would rogue AI make bioweapons? 1:57:57 We can feed the world even if all the plants die 2:07:03 Could a bioweapon make the Earth uninhabitable? 2:09:35 What ASB is hiring for 2:30:27 How to protect yourself and your family (On the 80,000 Hours Podcast, available anywhere you get podcasts.)

Rob Wiblin

168,670 просмотров • 11 месяцев назад