This 'podclass' is a series of discussions with the world's best investors, company builders, academics, athletes, artists and human beings devoted to exploring...
Jacqui Morby - The Queen Of Software - [Joys of Compounding, EP.25]
Today’s teacher is Jacqueline Morby. She may well be the greatest investor you've probably never heard of. For anyone who invests in software or participates in the now nearly trillion dollar global growth equity industry, chances are Jackie helped to shape and give rise to the professional world you inhabit. In 1978 at the age of 40, and with her only professional experience to date being a few years of substitute teaching, Jackie joined TA Associates, the largest venture capital firm in the world at that time.
Within just a few years, she would revolutionize her industry, effectively originating the concept of cold calling profitable bootstrap technology companies not actively looking for funding. While the concept seems so simple, this truly was a radical innovation and in effect pioneering the art of looking for talented people in companies that don't necessarily want to be found, sparking a movement that created what we now know as growth equity. As if that's not enough, Jackie was also one of the very first investors of any kind to recognize the inherent business quality of software companies.
Over the next two decades, as software would begin to eat more and more of the world, Jackie would have a front row seat as one of the most important capital partners to the industry. This is Jackie's first podcast of any kind, and we feel so honored to bring this conversation to you, mainly because hers is a story that merits so much more attention.
Please enjoy this class with the queen of software, Jacqui Morby.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by EightSleep, the temperature-controlled mattress cover that heats or cools your mattress to transform your sleep. The Pod 4 Ultra is the new gold standard in intelligent sleep systems. It can be added to your current mattress like a fitted sheet and is been clinically proven to give you up to an hour more quality of sleep every night. The cooling capability can cool your side of the bed to 20 degrees below room temperature, all managed by the pod's autopilot feature, which adjusts the temperature throughout the night. Go to eightsleep.com/joys for $350 off.
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Joys of Compounding is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Joys of Compounding, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Follow us on Twitter: @Buhrman_Rick | @PaulBuser | @JoinColossus
Show Notes
(00:00:00) Learn About EightSleep
(00:05:00) Introduction to Jacqueline Morby: The Queen of Software
(00:06:35) Early Life and Education
(00:07:44) Jacqui’s Family Life and Early Career
(00:11:04) Joining TA Associates and Industry Innovations
(00:13:13) Early Days at TA Associates
(00:15:17) Impact of Teaching and Overseas Experience
(00:16:52) Pioneering Cold Calling in Venture Capital
(00:19:05) Cold Calling Success Stories
(00:23:17) Missed Opportunities and Big Wins
(00:25:45) Investing in Software: A Revolutionary Idea
(00:40:07) Philanthropy and Cure Alzheimer’s Fund
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40:36
Rich Wells - Keep Moving - [Joys of Compounding, EP.24]
This is Rick. Today's teacher is Rich Wells, managing director of Insight Partners, which celebrates its 30th anniversary this month. I've known Rich for 20 years since our time as section mates in business school, where he was consistently recognized as the smartest person in the room. Rich is universally regarded as one of the preeminent private market software investors of the last 20 years, helping drive Insight's success through agility and excellence. While achieving the highest heights in his career, Rich has also faced profound personal challenges, including the tragic loss of his wife Rachael.
This vulnerable conversation offers critical wisdom about resilience and moving forward through life's darkest moments. No matter what life throws at you remember that you've got to find a way to keep going. Please enjoy class with my dear friend and software savant, Rich Wells.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by EightSleep, the temperature-controlled mattress cover that heats or cools your mattress to transform your sleep. The Pod 4 Ultra is the new gold standard in intelligent sleep systems. It can be added to your current mattress like a fitted sheet and is been clinically proven to give you up to an hour more quality of sleep every night. The cooling capability can cool your side of the bed to 20 degrees below room temperature, all managed by the pod's autopilot feature, which adjusts the temperature throughout the night. Go to eightsleep.com/joys for $350 off.
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Joys of Compounding is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Joys of Compounding, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Follow us on Twitter: @Buhrman_Rick | @PaulBuser | @JoinColossus
Show Notes
(00:00:00) Learn about EightSleep
(00:02:57) Meet Today's Teacher: Rich Wells
(00:10:04) Early Career Challenges and Lessons
(00:14:59) Joining Insight Partners
(00:17:20) Reflecting on TCV and Moving to Business School
(00:19:11) Experience at Business School and Joining Insight
(00:26:05) Insight's Growth and Strategy
(00:30:38) Evolution of Software and Investment Strategies
(00:34:48) Impact of SaaS and Cloud on Software Development
(00:36:41) Investment Philosophy and Market Insights
(00:39:01) Empowerment and Team Dynamics
(00:43:05) Majority Stakes and Mindset Shifts
(00:45:14) Evolution from Value to Growth Investing
(00:47:49) Shopify: A Generational Company
(00:51:39) Expanding TAM: The Role of Payments
(00:55:02) Personal Struggles and Triumphs
(00:59:25) Rachel's Legacy and Life Lessons
(01:10:06) Future of Software
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1:22:22
Mitch Rales - The Art of Compounding - [Joys of Compounding, REPLAY]
Before we turn the page on 2024, we wanted to shine one more light on the man behind our most popular class of the last year. And that's Mitch Rales, co-founder of Danaher, one of the most impressive businesses to have been built anywhere in the world this past century. Having co-founded Danaher 40 years ago alongside his brother and best friend Steve, the Rales boys have strung together a track record of compounding that might even make Buffett blush. Consider that Danaher has annualized at over 21% for four decades, resulting in an 1800-times multiple on invested capital!
You’ll learn from Mitch about the key inputs to his outlier success: why greatness is a journey that takes an unusual time horizon, the role benchmarking plays in standing up any winning organization, why it is essential to cultivate learning agility and embrace transformational pivots over time, and also the qualities Mitch looks for both in the leaders and businesses he looks to support.
While Mitch is a natural teacher, this is actually his first recorded, long-form interview of any kind, and so we feel especially honored to share with you our candid conversation with someone who has shaped and transformed us and the business world in so many positive ways. Please enjoy today’s class with Mitch Rales.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by EightSleep, the temperature-controlled mattress cover that heats or cools your mattress to transform your sleep. The Pod 4 Ultra is the new gold standard in intelligent sleep systems. It can be added to your current mattress like a fitted sheet and is been clinically proven to give you up to an hour more quality of sleep every night. The cooling capability can cool your side of the bed to 20 degrees below room temperature, all managed by the pod's autopilot feature, which adjusts the temperature throughout the night. Go to eightsleep.com/joys for $350 off.
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Joys of Compounding is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) - Welcome to Joys of Compounding
(00:04:32) - The Philosophy Behind Glenstone's Creation
(00:11:57) - Benchmarking and Continuous Improvement: Lessons from Danaher and Glenstone
(00:20:22) - The Influence of Mitch’s Father and Upbringing
(00:27:43) - Transforming Danaher During The George Sherman
(00:29:39) - Embracing Long-Term Vision and Patience
(00:35:47) - The Role of Leadership in Navigating Change
(00:41:21) - Danaher's Evolutionary Journey: From 1.0 to 4.0
(00:55:37) - Building a Culture of Internal Growth and External Innovation
(00:57:42) - The Art of Successful Acquisitions and Integration Strategies
(01:02:03) - Seeking Leadership Qualities and Business Traits for Long-Term Success
(01:05:14) - The Journey from Personal Experience to Philanthropy
(01:12:10) - Investment Philosophy: Concentration vs. Diversification
(01:28:46) - Operational Expertise as a Catalyst for Company Growth
(01:33:17) - Identifying and Supporting Talent in Business
(01:42:02) - The Impact of Secular Trends on Long-Term Investments
(01:48:53) - Revitalizing the Washington Commanders
(01:56:36) - Engaging with Fans and Building a Winning Culture
(02:04:16) - The Importance of Long-Term Vision
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2:06:37
Marcus Freeman - Choose Love, Choose Hard - [Joys of Compounding, REPLAY]
In honor of Notre Dame clinching a playoff spot, we're replaying our conversation from earlier this year with head coach Marcus Freeman. We discuss the power of relationships and how he talks with his players about the concepts of hard work & love. Marcus delves into what it takes to focus on inputs rather than outputs, especially as the college sports world is changing in unprecedented ways.
And for you football fans out there, we even get into a little bit of what's ahead for Notre Dame’s program in Marcus’s third year as head coach. As alums and lifelong fans of the Irish, it was a real treat to host Coach Freeman at our studios. Please enjoy this class with Coach Marcus Freeman.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by EightSleep, the temperature-controlled mattress cover that heats or cools your mattress to transform your sleep. The Pod 4 Ultra is the new gold standard in intelligent sleep systems. It can be added to your current mattress like a fitted sheet and is been clinically proven to give you up to an hour more quality of sleep every night. The cooling capability can cool your side of the bed to 20 degrees below room temperature, all managed by the pod's autopilot feature, which adjusts the temperature throughout the night. This holiday season go to eightsleep.com/breakdowns and use code JOYS for up to $600 off the Pod 4 Ultra when bundled.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) - Welcome to Joys of Compounding
(00:04:45) - Confidence and Leadership
(00:06:32) - The Profound Influence of Family
(00:10:39) - Embracing the Role of a Lifelong Learner
(00:12:43) - The Coaching Journey: From NFL Dreams to Notre Dame
(00:18:22) - Building Relationships: The Core of Coaching
(00:21:53) - Other-Centeredness as a Coaching Philosophy
(00:23:55) - The Mindset of Notre Dame Football
(00:24:59) - The Power of Relationships and Team Dynamics
(00:28:01) - Emphasizing Love and Choice in Team Culture
(00:30:37) - Continuous Improvement and Challenging the Status Quo
(00:35:17) - Navigating the Upheaval in College Football
(00:36:28) - The Importance of Education in Athlete Development
(00:39:04) - Family, Balance, and Being Present
(00:41:28) - Recruiting Talent and Building Teams at Notre Dame
(00:43:55) - Inspiring Today’s Youth and Upholding High Standards
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42:25
Patrick Griffin - The Lessons of History - [Joys of Compounding, EP.23]
Today’s teacher is renowned historian Patrick Griffin. Patrick is the former chair of the Department of History at the University of Notre Dame. In 2021, he was named the Harold Vivian Harmsworth Visiting Professor of American History at the University of Oxford, perhaps the highest honor an American historian can receive.
He joined us to explore “The Lessons of History” by Will and Ariel Durant, a book that has been repeatedly recommended to us over the years by some of the world's most compelling investors, leaders, thinkers, and builders.
To quote the late great Charlie Munger, who was also a student of Durant, “There is no better teacher than history in determining the future.” This 100-page book is a masterful distillation of Durant's 11-volume 10,000-plus page magnum opus, “The Story of Civilization.”
Whether you're looking to develop better pattern recognition in your work, or perhaps more existentially how to begin to even think about how and what to paint on this precious canvas that we call a human life. We hope you enjoy this class on “The Lessons of History” with the esteemed Patrick Griffin.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by EightSleep, the temperature-controlled mattress cover that heats or cools your mattress to transform your sleep. The Pod 4 Ultra is the new gold standard in intelligent sleep systems. It can be added to your current mattress like a fitted sheet and is been clinically proven to give you up to an hour more quality of sleep every night. The cooling capability can cool your side of the bed to 20 degrees below room temperature, all managed by the pod's autopilot feature, which adjusts the temperature throughout the night. This holiday season go to eightsleep.com/breakdowns and use code JOYS for up to $600 off the Pod 4 Ultra when bundled.
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Joys of Compounding is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Joys of Compounding, visit joincolossus.com/episodes.
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Follow us on Twitter: @Buhrman_Rick | @PaulBuser | @JoinColossus
Show Notes
(00:00:00) Welcome to the Joys of Compounding
(00:01:17) The Importance of History
(00:04:14) The Historian's Toolkit
(00:07:17) Will Durant's Journey
(00:09:18) Lessons from 'The Lessons of History'
(00:23:08) Human Nature and History
(00:34:29) The Role of Economy in History
(00:38:01) The American Revolution in Context
(00:38:20) The Irony of National Exceptionalism
(00:39:00) Revolutions and National Belonging
(00:42:17) Geography and the Age of Revolution
(00:43:50) Human Ingenuity and Overcoming Geography
(00:45:53) The Role of Common People in History
(00:47:12) The Immigrant Experience and Personal Reflections
(00:50:49) Yankee Sullivan: A Prizefighter's Tale
(00:55:55) Boxing as a Metaphor for Human Nature
(00:58:49) The Inevitability of War
(01:03:10) The Concept of Progress
(01:07:14) The Power of Compounding in History
This 'podclass' is a series of discussions with the world's best investors, company builders, academics, athletes, artists and human beings devoted to exploring the joys of compounding in all its forms.
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