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Invest Like the Best with Patrick O'Shaughnessy
Bill Gurley – All Things Business and Investing - [Invest Like the Best, EP.137]
Conversations with the best investors and business leaders in the world. We explore their ideas, methods, and stories to help you better invest your time and money. Hear stock market and boardroom insights you can't find anywhere else. If you're a professional investor, CEO, entrepreneur, or business strategist, this is for you. Explore all our episodes and learn more at https://www.colossus.com
Show Notes
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My guest this week is Bill Gurley, a general partner at Benchmark Capital and one my favorite investment thinkers. As you’ll hear, despite enormous success through his career, Bill is clearly still in love with business and investing. Where many might discuss past glories, I’ve been incredibly impressed with how both Bill and his partners emphasize the current portfolio and market landscape. I’m thankful to have had the chance to speak with him in this format. I hope you enjoy our conversation.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Show Notes
(First Question) – The idea of increasing returns
– Competiting Technologies, Increasing Returns, and Lock-in By Historical Events
– Complex Systems Theory – Santa Fe Institute
– Markers that could be a sign of network effect in a company
– The opportunities for companies to capture network effect
– Are there certain teams/leaders that are more conducive to leading a network effect company
– Liquidity quality
– How important is the revenue model at the beginning
– Fascination with Nextdoor
– Paradox of Choice
– Finding opportunities
– Potential marketplaces and assets that could be commoditized
– All Markets Are Not Created Equal: 10 Factors To Consider When Evaluating Digital Marketplaces
– Usage yield on the world’s assets
– Has technology changed the world of value investing
– Hyper niche marketplaces
– Challenges of labor marketplaces
– User generated content businesses
– People who are capable of building UGC businesses
– His interest in Discord
– Factors of a healthy marketplace
– Fools’ gold in marketplace businesses
– How influx of cash is impacting the marketplace business landscape
– All Revenue is Not Created Equal: The Keys to the 10X Revenue Club
– How does the influx of money into the space impact him
– Spending money to attack top brands
– Regulatory capture
– His thoughts on the IPO market
– How did he realize this was his passion
– Qualifying his passion
– Favorite thing about working with entrepreneurs
– Honing your craft
– Making yourself a good mentor
– Kindest thing anyone has done for him
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
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