Invest Like the Best with Patrick O'Shaughnessy
· Patrick O'Shaughnessy, Ric Elias
[00:00:00] S0: You talked a lot about how you have changed your view on things in the last 18 years. What are you anticipating will change in the next 10? And what has you excited about in the next 10? [00:00:00] S1: Look, my role is going to change. I don't intend to be committing this much energy to this one thing. That may not happen for the next three to four years. Hopefully, the perch of Red Ventures existing, as I may not. Go to Facebook or Meta and drive out of their campus and you see the Sun Microsystems on the back of the sign. That's a great reminder that someone is going to paint our building blue someday, and that's okay. It was meant to be for a period of time, so yes, I really don't know. And I think the next 10 years, I think AI is going to disrupt every workflow, every interface, every platform, everything, in ways that no one can predict. You got to be both aggressive and thoughtful. Remember, early in AI, people were like, oh, this is just like the Internet, but it is -- four years from, maybe not. Maybe it's going to take that long for real models to mature, for consumer behaviors to change, for platforms to really adapt. All the money that got made -- and you know this better than anybody, all the money that got made in the Internet wasn't in the first wave, maybe some on the infrastructure.
· Ric Elias, Patrick O'Shaughnessy
[00:00:00] S1: Look, my role is going to change. I don't intend to be committing this much energy to this one thing. That may not happen for the next three to four years. Hopefully, the perch of Red Ventures existing, as I may not. Go to Facebook or Meta and drive out of their campus and you see the Sun Microsystems on the back of the sign. That's a great reminder that someone is going to paint our building blue someday, and that's okay. It was meant to be for a period of time, so yes, I really don't know. And I think the next 10 years, I think AI is going to disrupt every workflow, every interface, every platform, everything, in ways that no one can predict. You got to be both aggressive and thoughtful. Remember, early in AI, people were like, oh, this is just like the Internet, but it is -- four years from, maybe not. Maybe it's going to take that long for real models to mature, for consumer behaviors to change, for platforms to really adapt. All the money that got made -- and you know this better than anybody, all the money that got made in the Internet wasn't in the first wave, maybe some on the infrastructure. [00:00:00] S0: Ric, it has been so much fun to get this excuse to talk to you about what you've built, maybe more importantly, your philosophy for building it. I think you know my traditional closing question. What is the kindest thing that anyone has ever done for you?
· Patrick O'Shaughnessy, Ric Elias
[00:00:00] S0: Ric, it has been so much fun to get this excuse to talk to you about what you've built, maybe more importantly, your philosophy for building it. I think you know my traditional closing question. What is the kindest thing that anyone has ever done for you? [00:00:00] S1: In fairness, I knew this question was coming. There's been so much, but instead of finding the one person, I'll tell you the thing, and it's forgiveness. I have been forgiven by many people ultimately for being human. I've been forgiven by my wife for not being as committed in terms of being at home in that first decade of our kids. I've been forgiven by my kids for not being that present in the first decade. There's no manual to run a company. There's no manual to do acquisition. I made a million mistakes. And the grace that you give somebody when you forgive them is the most beautiful things we do as humans. So I am super grateful for the grace of forgiveness, and it's a great reminder that that's a power we have to give others. That is probably what I take with me. [00:00:00] S0: Coming here has been a total highlight of an otherwise fairly chaotic summer for me. You've created something really enviable and inspiring here. Thank you so much for having me, and thanks so much for your time. [00:00:00] S1: An incredible honor to be on your show.