01:11:17 · David Senra, Micky Malka
[01:11:17] S0: Are you backing Jedis or you have Jedis? [01:11:19] S1: We we back Jedis. Okay. And and we have Wookiees and we are Jedis. We we have the whole thematic truly alive in the way we think because it has to be authentic. And people that work with us, Ribbit, the whole team feels that ownership, that teamwork. There's... Investment firms are very siloed in many ways, and I don't love that. We wanna overcommunicate even internally. Like, right now, the entire team knows that we're sitting together. Everybody can see my calendar in my inbox. They can see my emails. And I can see anybody's emails. We share all the information so we can actually become better as a team. That mindset is very relevant in this environment, in how we make decisions. We don't make individual decisions, we make group decisions. And there's no like, somebody asks, who's the partner responsible for that company? It's like, what partner? And you ask the founder, they say, I don't know. I call Mickey for something, I call Nick for something, I call Justin for something. We are just a team that works together in very different ways. So that is the joy of going to the office every day. I love being there and spending time with the team because we just have fun together.
01:11:19 · Micky Malka, David Senra
[01:11:19] S1: We we back Jedis. Okay. And and we have Wookiees and we are Jedis. We we have the whole thematic truly alive in the way we think because it has to be authentic. And people that work with us, Ribbit, the whole team feels that ownership, that teamwork. There's... Investment firms are very siloed in many ways, and I don't love that. We wanna overcommunicate even internally. Like, right now, the entire team knows that we're sitting together. Everybody can see my calendar in my inbox. They can see my emails. And I can see anybody's emails. We share all the information so we can actually become better as a team. That mindset is very relevant in this environment, in how we make decisions. We don't make individual decisions, we make group decisions. And there's no like, somebody asks, who's the partner responsible for that company? It's like, what partner? And you ask the founder, they say, I don't know. I call Mickey for something, I call Nick for something, I call Justin for something. We are just a team that works together in very different ways. So that is the joy of going to the office every day. I love being there and spending time with the team because we just have fun together. [01:12:28] S0: What was the insight though that caused you to do this instead of... Because you started how many companies before this? This is your sixth company? Yes. Something like that? So like... Your sixth company looks vastly different from your first five, correct? Yes. So like what was the insight between five and six though?
01:12:28 · David Senra, Micky Malka
[01:12:28] S0: What was the insight though that caused you to do this instead of... Because you started how many companies before this? This is your sixth company? Yes. Something like that? So like... Your sixth company looks vastly different from your first five, correct? Yes. So like what was the insight between five and six though? [01:12:40] S1: I had to... In the infinite game, I had just had to learn how to do it right. And this time I did it right. Because I consider myself, even though they were successful and they created a lot of impact and changed a lot of people's lives around the world, I consider myself a failed entrepreneur. [01:12:56] S0: That's absurd. That's what you gotta say, like why? [01:13:00] S1: Because the best entrepreneurs never have to sell their company. [01:13:05] S0: Okay, another fist bump on that. There you go. [01:13:07] S1: And so I had to learn for twenty years how to get to the point to design the structure, the culture, the team, the knowledge, the aperture, the brand, compound all those values to a place where we can do something for forever. [01:13:28] S0: This is the infinite game. [01:13:29] S1: This is the infinite game.
01:13:29 · Micky Malka, David Senra
[01:13:29] S1: This is the infinite game. [01:13:30] S0: Nick Sleep has one of my favorite lines ever. And he goes, the best investors aren't investors, they're entrepreneurs who never sold. 100% agree. Yeah. So that's fascinating. Look at... Okay. The fact is I'm a failed entrepreneur because I had to exit. You had crazy successful exits too from my first five because I didn't find the vehicle in which I can do forever, which is again, when when... Again, like, I'm like new to being relatively known in like this community in the last like five years for podcasts. And I didn't understand because I sat in a room by myself for a decade and just talked into a microphone and read books. And I didn't think about the outside world at all. And then everything kind of came to me. And so now I have to, like, constantly vet everybody around me. And I get a lot of advice from, like, especially, like, older, more successful entrepreneurs who are like, man, you have to be so fucking careful with, like... Because there's... It goes back to Charlie Munger. It's like most people are rat poison. [01:14:20] S1: Yeah. [01:14:20] S0: Right? And it's just like and it's just like you have to, like, vet them in all different directions. But when I... And even people I wanna have dinner with or talk to, like you, you ask a bunch of people, and they're just like, he's obsessed with this infinite game. Yeah. This infinite game. He's like, they... He doesn't need more money, and he doesn't need to do another deal in his life, but he just can't stop.
01:14:40 · Micky Malka, David Senra
[01:14:40] S1: But it's it's this joy. It's this thing that every day you get better, and you just are improving. And, you know, I sat with Charlie Munger once in one... After another meeting the Happy Hollow Golf Club where Warren had this thing afterwards. And I saw myself, and I only had one stock of pressure. I was probably 24 years old and 25. And I sit next to him... Well, he sits next to me. I'm sitting. He says he says, He says, sit. Take him. He said, no. Come on. Sit here, Charlie. And we started to talk, and and that room was everybody. Bill Gates was there, all these big CEOs of all these companies, and I was, the youngest guy by an order of magnitude. And he looks at me and says, you must be very wealthy to be here. And I said, actually, no, I only own one share. He says, you don't get it. You are the wealthiest guy in the room. And I said, you're wrong, Charlie. No, no, you are. Why? You have the power of time. All of us here are in our last chapter. You're just starting your time. You will compound for the next seventy years of your life. So never forget the rule I'm about to tell you. You only need to get rich once. And then that was it. He says, and now I'm gonna eat. And just sat down and eat. [01:15:53] S0: I love that. Time is the only true currency [01:15:55] S1: the only true currency we have. [01:15:56] S0: I appreciate you spending your time giving it to us today. [01:15:59] S1: This is awesome. Thank you for having I
01:15:59 · Micky Malka, David Senra
[01:15:59] S1: This is awesome. Thank you for having I [01:16:02] S0: hope you enjoyed this episode. Please remember to subscribe wherever you're listening and leave a review, and make sure you listen to my other podcast founders. For almost a decade, I've obsessively read over 400 biographies of history's greatest entrepreneurs searching for ideas that you can use in your work. Most of the guests you hear on this show first found me through Founders.