Hemant Taneja - Engineering Global Resilience - [Invest Like the Best, EP.382]
Episode publishedPodcast: Invest Like the Best with Patr...Invest Like the Best with Patrick O'Shaughnessy
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Patrick: 2 fun facts about our newest sponsorship partner, Ramp. 1st, they are the fastest growing Fintech company in history, reaching a level of revenue in 5 years that I can't quote exactly, but is eyebrow raising. 2nd, they are backed by more of my favorite past guests, at least 16 of them when I counted, than probably any other company that I'm aware of. A list that includes Ravi Gupta at Sequoia, Josh Kushner at Thrive, Keith Raboy at Founders Fund and Khosla Ventures, Patrick and John Collison, Michael Ovitz, Brad Gersner. The list goes on and on.
These facts demand the question, why? Having been personally obsessed with the great businesses through history, one clear lesson is that the best of them are run by disciplined operators. These operators manage costs with incredible detail, and they are constantly thinking about how they can reinvest every dollar and every hour back into their business. This is Ramp's mission to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. First, on expenses, the average American business has a profit margin of 7.7%.
This means saving 1% on cost is the equivalent of making 13% more revenue. The average Ramp customer is able to save 5% on their expenses each year. Of course, every entrepreneur is looking for ways to grow revenue by 50%. They should just as seriously seek to save 5% on their expenses. 2nd, on time.
Unnecessary complexity is why most finance teams spend 80% of their time doing operational work and only about 20% of their time on strategic work. Ramp makes spend management very simple by handling your company's expenses, travel, bill payments, vendor relationships, and even accounting. It's notable that some of the best in class businesses today, companies like Airbnb, Anduril, and Shopify, and investors like Sequoia Capital and Vista Equity are all using Ramp to manage their spend. They use it to spend less. They use it to automate tedious financial processes, and they use it to reinvest
At both Colossus and Positive Sum, my businesses, we've used Ramp for years now for these exact reasons. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. That's ramp.com/invest. This episode is brought to you by Twigas, where we're changing the game in investment research. Step away from outdated inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts with over 25,000 transcripts added just this year alone.
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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. Invest Lik
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