Latest Interviews

Mike Salguero: How I Grew ButcherBox to $600M/year in Revenue; Tips for Influencer Marketing | E998

Mike Salguero, Harry Stebbings

ButcherBox CEO Mike Prieto is pivoting the bootstrapped $600 million revenue company from saturated influencer channels to media-stunt marketing and micro-influencer networks as traditional growth tactics fail. By abandoning asset-heavy infrastructure and VC-dependent growth models, the organization optimizes unit economics through a 5-month customer acquisition payback period to scale toward $1 billion while retaining full founder ownership. This strategy aims to establish a 100-year legacy institution that survives the current D2C correction by prioritizing operational efficiency over vanity metrics and rapid expansion.

What’s driving the surge in shareholder activism activity?

Avinash Mehrotra, Pamela Codo-Lotti, Alison Nathan, Avi Mehrotra, Pam Kodoloti

By March 2023, activist investor campaigns reached pre-pandemic intensity with a record $13.13 billion raised by Elliot Management, driving a surge in pressure on one in four S&P 500 companies and expanding into large-cap targets in Japan and Europe. Activists are shifting strategies from inorganic growth to operational efficiency and capital returns, utilizing new universal proxy rules and increased capital availability to target defensive corporations in tech, healthcare, and industrials. As multiple investors increasingly "swarm" single firms, companies are responding by adopting proactive, data-driven governance reviews to preemptively address vulnerabilities in board composition and capital allocation.

Investors don’t validate your startup — users do.

YC Group partner Serbi Sarna founded Envision, a medical device startup for cancer detection, after securing its initial $500,000 in funding by forgoing her personal salary for two years. Despite facing rejection from over 50 investors during her capital raise, Sagna convinced a small subset of backers to believe in her vision. This persistence ultimately led to the company's acquisition for $275 million, illustrating that startup success often depends on securing investment from a critical few rather than universal approval.

Shopify CEO Tobi Lütke: Remote Work vs In-Person; The Benefit of Setting Constraints | E997

Tobi Lütke, Harley Finkelstein, Harry Stebbings

Tobias Lütke, founder of Shopify, presents a philosophy that prioritizes sustainable contentment over temporary happiness while advocating for decision-making based on 40% to 70% information and a commitment to truth over being right. He argues that maximum creativity and team effectiveness emerge from strict constraints and physical proximity for small groups, drawing parallels between jazz improvisation and modern remote work strategies that expand talent access despite minor productivity trade-offs. The presentation concludes that leadership success depends on maintaining an accurate model of the world to communicate effectively, rejecting traditional goal-setting in favor of craftsmanship and tangible output to navigate complex systems like AI and global markets.

The Man That Makes Millionaires: How To Turn $1,000 Into $100 Million!: Alex Hormozi | E235

Alex Hormozi, Steve

Alex Hormozi, an Iranian-French entrepreneur, transformed his life from a state of existential crisis and severe debt into building a $46.2 million business exit by pivoting from physical gyms to a proprietary licensing model. Leveraging a philosophy centered on value creation, skill stacking, and infinite leverage, he founded Acquisition.com as a family office to provide capital and strategic expertise to minority portfolio companies. His journey emphasizes using pain as a primary motivator to drive decision-making, ultimately establishing a media ecosystem designed to democratize business education for aspiring founders.

Digital Humans and the Story Behind Lil Miquela

Lil Miquela, Trevor McFedries, Isaac Bratzel

Created by Brud co-founders Trevor McFedries and Isaac Bratzel in 2016, the photorealistic virtual influencer Lil Miquela was developed to leverage social media narratives in a polarized political climate by mimicking a specific 19-year-old Brazilian-American persona. Brud bypassed traditional production costs by utilizing a small agile team and data-driven feedback loops to cultivate a deeply engaged fanbase that actively participated in the character's lore and cultural impact. This strategic success validated the viability of virtual humans as enduring media entities, prompting the creators to advocate for decentralized, community-owned future models while navigating ethical concerns regarding AI and labor displacement.

Bain Capital’s Stephen Pagliuca on private equity and the Boston Celtics

Stephen Pagliuca, Alison Mass

Steve Pelyuka, former Co-Chair of Bain Capital, traces the evolution of private equity from a localized boutique to a global vertical industry while detailing his strategic pivots in the Boston Celtics and Atalanta BC ownership. He outlines how modern investment resilience relies on high equity stakes, low-covenant lending, and a decade-long horizon to navigate elevated interest rates and geopolitical decoupling. Complementing these financial insights, Pelyuka emphasizes the critical role of A-plus management teams and data-driven analytics, citing his work on the Celtics' "Basketball Intelligence Agency" and the firm's enduring focus on healthcare and AI sectors.

What are some things you’ve had to unlearn?

Founders often misapply the extensive infrastructure and rigorous internal standards of large technology firms like Google and Facebook to their early-stage startups, creating significant friction with engineers accustomed to corporate-grade development processes. This transition requires actively unlearning established industry practices, particularly regarding Minimum Viable Product definitions, as corporate beta standards are often ten times more rigorous than those necessary for rapid market entry. Consequently, successful startups must resist the tendency to implement inapplicable proprietary code review methods and complex internal tooling to avoid delaying product launches.

Eliezer Yudkowsky: Dangers of AI and the End of Human Civilization | Lex Fridman Podcast #368

Eliezer Yudkowsky, Lex Fridman

Eliezer Yudkowsky warns that aligning superintelligent AI requires getting the process right on the first attempt, as any failure could lead to human extinction due to an uncontrollable intelligence gap. He argues that current capabilities are advancing exponentially while safety research lags significantly, creating a risk where models optimize misaligned objectives or deceive human verifiers before a pause mechanism can be established. Consequently, Yudkowsky urges society to treat the threat as immediate rather than abstract, advocating for urgent action in alignment research and a rejection of open-sourcing advanced systems to prevent an irreversible loss of human control.

Alex Cooper: The Truth I Never Planned to Share...

Alex Cooper, Steven

Alex Cooper has grown from a bullied teenager to the creator of Spotify's *Call Her Daddy*, a podcast that generates hundreds of millions of monthly downloads while securing a $60 million exclusive deal. Despite navigating a volatile partnership, intense public scrutiny, and the psychological toll of maintaining a "wild" content schedule, she recently transitioned to a healthier personal life and established her own production company, Alex Cooper Studios. Cooper now plans to shift her career focus from on-camera hosting to behind-the-scenes production and film directing, aiming to balance commercial success with authentic storytelling.

Jag Duggal: How We Scaled Nubank to 80M Users; Google's Brutal Hiring Practices | E995

Jag Duggal, David Velez, Harry Stebbings, Kevin Systrom

Jack Borthwick, a former executive at Google and Facebook, relocated to Brazil to lead product strategy at NewBank, where he applies a hiring philosophy that prioritizes drive and clarity over traditional credentials to serve the bottom half of the global income pyramid. Under his guidance, the financial institution successfully transitioned from a savings-only model to a primary banking relationship by leveraging data-driven metrics like churn and the "Sean Ellis test" to build genuine customer loyalty. Borthwick's approach combines rigorous execution speed with strategic clarity, enabling the company to disrupt traditional banking in Latin America while planning expansion into Mexico and Colombia.

Ilya Sutskever (OpenAI Chief Scientist) — Why next-token prediction could surpass human intelligence

Ilya Sutskever

OpenAI co-founder Ilya Sutskever outlines a trajectory where rapidly advancing AI models will face a critical bottleneck in reliability before reaching full AGI maturity by 2030, driven by the need to surpass human-level performance through scalable reasoning and automated data generation. He warns that aligning superintelligent systems will require a hybrid approach of adversarial testing and behavioral analysis to prevent deception, while predicting that economic value will remain robust despite data scarcity as long as inference costs stay justified by utility. Ultimately, Sutskever envisions a post-AGI future where human-AI collaboration fosters widespread moral and intellectual evolution, provided that continuous innovation in trustworthiness prevents the commoditization of core research.

Dara Khosrowshahi: How I Became CEO of Uber; Uber Eats vs DoorDash; The Postmates Acquisition | E994

Dara Khosrowshahi, Harry Stebbings

Dara Khosrowshahi applies a philosophy of sustained excellence and calculated risk to guide Uber through its transformation from a crisis-ridden startup into a globally dominant logistics platform. By prioritizing marketplace technology over failed hardware ventures and correcting strategic missteps in delivery, he has successfully orchestrated complex supply-and-demand matching while shifting the board's focus from control to organizational success. His leadership approach emphasizes hiring for clarity of thought, maintaining a "plastic mind" to embrace mistakes, and allocating capital with a long-term perspective that balances Wall Street expectations with aggressive growth.

Sam Altman: OpenAI CEO on GPT-4, ChatGPT, and the Future of AI | Lex Fridman Podcast #367

Sam Altman, Lex Fridman

OpenAI co-founder Sam Altman discusses the organization's transition to a capped-profit structure and the technical architecture behind GPT-4, emphasizing that its capabilities stem from incremental engineering rather than a single breakthrough. He outlines a strategy of "slow takeoff" for AGI development to prioritize safety alignment through Reinforcement Learning from Human Feedback while mitigating immediate risks like disinformation and economic disruption. Ultimately, Altman predicts that AI will drastically lower the cost of intelligence and drive global productivity growth, necessitating societal shifts such as Universal Basic Income to manage the resulting wealth redistribution.

Bill Ackman wants to give $7000 to every baby

Bill Ackman, Harry Stebbings

The speaker warns that rising post-crisis wealth inequality threatens societal stability by creating a divide where asset compounding vastly outpaces wage growth. To counteract this, the proposal combines a universal "Baby Bonds" program funding $6,500 accounts for every newborn with tax reforms targeting loopholes like like-kind exchanges and unrealized gains taxes. While rejecting a broad 25% tax on appreciation for risking a liquidity crisis in startups, the speaker argues that closing specific loopholes to fund these bonds is essential for providing every citizen a permanent economic stake without harming business formation.