Royce Yudkoff & Rick Ruback - Entrepreneurship Through Acquisition - [Invest Like the Best, EP.423]
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Early in my career, I'd spend hours alone in the film room thinking I was being productive. But the truth was, I had no idea what I was doing. I was just going through the motions. That's what finance leaders tell me. They're frustrated because they waste hours manually tracking expenses and reconciling statements when they should be focusing on driving their business forward. Be honest with me. How much of your time is spent on high value work? For many finance teams, it's less than 20%, but you can change that right now with Ramp. Ramp is a free corporate card that handles all the tedious fi
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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 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. My
guests today are Rick Ruback and Royce Yudkoff. Rick and Royce are Harvard Business School professors who teach their students how to search for, acquire, and run small businesses directly after graduation. It's nuts, but it's been almost a decade since our first conversation. And unlike many past interviews that become outdated due to technology or market changes, the core principles they shared about entrepreneurship through acquisition remain remarkably relevant today. They explore fascinating developments in the search fund ecosystem, including the bifurcation between funded searchers targ
you want me to take a crack at that, Royce? Yeah. You
go first. I'll lob him some if I haven't.
Okay. So when we talked in 2016, nearly a decade ago, as you say, first of all, I had hair. So that was a big difference. You
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