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Invest Like the Best with Patrick O'Shaughnessy
Zack Kanter – All Things Business - [Invest Like the Best, EP.142]
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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This week’s guest is, Zack Kanter, the founder and CEO of the Stedi. Zack and I decided not to talk much about his business on this podcast and opted instead to explore more generally, so a bit of an introduction to what they do may be helpful here for some extra context. Stedi is a platform for exchanging and automating 300+ types of business-to-business transactions - transactions like purchase orders, invoices, etc. It’s a modern take on an archaic protocol called EDI - electronic data interchange, something I’d never even heard of until several months ago. Learning about EDI is a bit like finding out about the Matrix - every physical object you come across, from the food you ate for breakfast to the clothes you’re wearing and consumer electronics you use - anything with a barcode on it - was likely touched by EDI, often dozens of times before making it into your hands. Stedi is the first update to this messaging later in decades.
Our conversation in this podcast is about business in general, starting with Zack’s fascination with Walmart and Amazon. I should also not that my family is a recent investor in Stedi, and I’m thankful to have learned a great deal from him over the past few months. Please 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) – Interest in Walmart and Amazon
– Sam Walton: Made In America
– What from their success can be applied elsewhere
– The idea of tempo with a business
– Ability for a business to expand laterally
Magic of Amazon as a constitution
– The concept of the OODA loop
– Boyd: The Fighter Pilot Who Changed the Art of War
– Orientation within software businesses
– The Systems Bible: The Beginner's Guide to Systems Large and Small
– Lessons in building software
– Certain to Win: The Strategy of John Boyd, Applied to Business
– Setting a common vision for a company
– Changing the dynamic of teams and how different size teams can accomplish different things
– How leaders should think about build vs buy
– The different types of value propositions
– Utility for companies
– Concept of network health and the best question from VCs
– Massive projects are less frequent in a world where we can do a lot quickly
– Wait but Why
– Just in time vs just in case learning framework
– His favorite question
– Why is most commonly heard advice wrong
– Kindest thing anyone has done for Zack
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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