Doug Leone - Lessons from a Titan - [Invest Like the Best, CLASSICS]
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Welcome to this classic episode. Classics are my favorite episodes from the past ten years published once a
month. These are n of one conversations with n of one people. There's nobody I've met quite like Doug Leone. Incredible drive, energy, and aggressiveness. Also, one of the great voices to listen to. A fearsome competitor and builder. I listen to this at least once a year. I hope you enjoy it. Hello, and welcome, everyone. I'm Patrick O'Shaughnessy, and this is Invest Like the Best. This show is an open ended exploration of markets, ideas, stories, and strategies that will help you better invest both your time and your money. If you enjoy these conversations and wanna go deeper, check out Colos
Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc. New
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Last year, we wondered what would happen if we condensed our best work and thinking into a publication once a quarter. The result was Colossus Review, a print, digital, and audio publication that represents our most essential distillation of the ideas and people shaping our world in both business and investing. The response to issue one was extraordinary. The pilot issue sold out immediately and then thousands more asked to join a wait list for the next issue. I've heard more about Colossus review from the few thousand that saw it than I hear from many episodes that reach an audience of millio
guest this week is Doug Leone. Doug led one of the world's most successful venture firms, Sequoia, for over twenty five years after he was given responsibility for the firm by its founder, Don Valentine, in 1996. Alongside Mike Moritz, the pair managed its expansion from a single hundred and $50,000,000 early stage fund to an $85,000,000,000 global powerhouse. It was a privilege to sit down with Doug and learn from him. We talk about his tough start at Sequoia, get into the technicalities of great go to market motions, and survey his advice for other investors in the industry. A key theme that
truth be known for the first twenty years, I did not know whether he had a heart. It was all pure business. It was all for the cause of generating returns for our clients, most of which are endowments and foundations. So for the first, I would say, fifteen, twenty years, he was visionary but extremely tough and certainly dedicated to the cause. At his eulogy, I was very amused and interested to find out from his kids that they spoke of him as having his huge heart when he went home. And it was really interesting how he segregated his work life from his home life. As he got older and developed
You mentioned his toughness in the earlier years. Maybe draw the spec
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