Ben Gilbert

53 statements across 23 episodes · 18 bullish · 8 bearish · 3 people on the record · first statement Dec 3, 2021 by Packy McCormick · across every show →

On the record as a speaker too: Ben Gilbert's record, appearances and statements → this page counts the times other people say the name.

Everything said about Ben Gilbert, oldest first

Dec 3, 2021
Disclosure
McCormick: Not Boring Capital never led a round across 91 investments
“Did you lead a single round? Did you write any term sheets? Were you the biggest check in any one of those 91 investments? Never. And that's all part of the strategy, right?”
Packy McCormick Dec 3, 2021 ▶ 1:59:00 Not Boring (with Packy McCormick) - Extended Cut · Acquired
Dec 3, 2021 neutral
Insight
Gilbert: Creator businesses transition through financial break-even remarkably fast
“The period of time where Hey, this isn't going to cover our lifestyle is long. And then, Hey, the period of time where, Whoa, this is going to more than cover our lifestyle is long. But the period of like, Hey, this is great. We're like right at break even sus…”
Ben Gilbert Dec 3, 2021 ▶ 1:05:45 Not Boring (with Packy McCormick) - Extended Cut · Acquired
Jan 24, 2022
Insight
Media Consumption Is Driven by Identity Signaling Over the Content Itself
“It was less about the music itself and more about, do I identify with the type of person who I perceive to listen to that thing? And it's the same with any other sort of music. It's often the same with movies too. It's a form of like self-identification and co…”
Ben Gilbert Jan 24, 2022 ▶ 28:29 Taylor Swift (Acquired’s Version) · Acquired
Mar 7, 2022
Insight
Company culture and values mean nothing until they are tested
“Company culture and company values don't mean anything until they're tested. And when I don't think he used the phrase direct to consumer, but when they sort of decided they wanted to be a direct consumer company, that's cute and all until someone offers you a…”
Ben Gilbert Mar 7, 2022 ▶ 44:34 SONY (75 years of electronics history in 3 hours) · Acquired
Apr 6, 2022 negative
Disclosure
Uber Killed Ben Gilbert's Ride-Sharing Meta-Search Startup by Cutting API Access
“At one point I started a startup that actually got killed by Uber, not willing to play ball with us and cutting off our API, but it's effectively a meta search for ride sharing to be able to find the fastest, closest ride to you independent of who's actually p…”
Ben Gilbert Apr 6, 2022 ▶ 24:47 Platforms and Power (with Hamilton Helmer and Chenyi Shi) · Acquired
Jun 20, 2022 positive
Assertion Partly supported
Gilbert: A16z reached $30B to $40B AUM within 13 years of founding
“And they're somewhere between 30 and forty billion under management now. In, in, what, 13 years since founding?”
Ben Gilbert Jun 20, 2022 ▶ 31:52 The Playbook: Lessons from 200+ Company Stories · Acquired
Jun 20, 2022
Assertion Supported
Gilbert: Andreessen Horowitz raised $300M for its first fund in 2009
“For folks who were sort of observing the tech industry at this point, they raised three hundred million dollars for Fund One.”
Ben Gilbert Jun 20, 2022 ▶ 31:05 The Playbook: Lessons from 200+ Company Stories · Acquired
Jun 20, 2022 positive
Assertion Supported
Gilbert: Tesla raised over $10B in cash in 2020 via equity offerings
“What they definitely did do is use that share price to sell new shares, ah, at very little dilution, and raise over ten billion dollars of cash to the balance sheet that year.”
Ben Gilbert Jun 20, 2022 ▶ 30:32 The Playbook: Lessons from 200+ Company Stories · Acquired
Jul 19, 2022 positive
Insight
Gilbert: Price competitors must ruthlessly refuse to absorb supplier inefficiencies
“If you're gonna compete on price, you must avoid buying anyone else's inefficiency at all costs, and it means having often very contentious relationships with your suppliers.”
Ben Gilbert Jul 19, 2022 ▶ 2:41:10 Walmart · Acquired
Aug 16, 2022 positive
Assertion Supported
Gilbert: Amazon Maintained Gross Margin Profitability and Solid Unit Economics
“Amazon always was gross margin profitable. They always had solid unit economics, but they would choose to super aggressively reinvest in something”
Ben Gilbert Aug 16, 2022 ▶ 3:42:47 Amazon.com · Acquired
Sep 28, 2022 positive
Insight
Benchmark partners retire past their forties because 100% effort is strictly required
“And I also think that's why they have to retire once they sort of age too far out of their forties, because it is an implicit thing among the group of you gotta be bringing it all day, every day. And at some point, if you want to notch down to 90%, it's time f…”
Ben Gilbert Sep 28, 2022 ▶ 1:46:53 Benchmark Part I · Acquired
Oct 4, 2022 neutral
Assertion Supported
Gilbert: Sequoia charged 30% carry on its fund at the time
“And they had 30% carry at Sequoia at that point, I think.”
Ben Gilbert Oct 4, 2022 ▶ 2:06:25 ACQ Sessions: Jason Calacanis · Acquired
Dec 19, 2022
Insight
Strategy requires rejecting lucrative low-hanging fruit that violates core trade-offs
“Sure, you could make more money doing that, but it goes in the too hard pile. I think you and I have a really big too hard pile. In some ways, that's strategy. It's like, if you actually believe in the set of trade-offs that you have, Then you have to be willi…”
Ben Gilbert Dec 19, 2022 ▶ 42:51 Holiday Special 2022 · Acquired
Dec 19, 2022
Disclosure
Acquired sells six-month season sponsorships to an audience of 250,000
“So we only do Six month, season long sponsorships, and we are ridiculously choosy about the people that we do that with, and because it's a six month long thing to an audience of 250,000 people that happen to be probably the most valuable audience in the world…”
Ben Gilbert Dec 19, 2022 ▶ 55:08 Holiday Special 2022 · Acquired
Dec 19, 2022 bearish
Opinion
Live podcast episodes require 10 to 20 times more production effort
“Some of the live shows we've done are the most special experiences of the year. They have hidden value for Acquired in a bunch of ways, like getting to actually talk with real people, like getting to hang out with the thousand people that came to the arena sho…”
Ben Gilbert Dec 19, 2022 ▶ 50:26 Holiday Special 2022 · Acquired
Mar 29, 2023
Insight
Podcasts Should Split Revenue 50/50 Between Direct Monetization and Ads
“Most podcasts should generate about 50% of their revenue from direct monetization, some kind of membership program, or paywalling their feed and about half from advertising.”
Ben Gilbert Mar 29, 2023 ▶ 57:55 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 neutral
Opinion
Gilbert: Solo monologue podcasting is the hardest format in the medium
“You and him are like the only successful monologue podcasters. Like, I think it's the hardest thing to do in this medium, and I can't, I mean, there's, everyone else either has a guest on or a co-host.”
Ben Gilbert Mar 29, 2023 ▶ 35:02 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 neutral
Insight
Gilbert: Generic advice represents averages that do not apply to outliers
“Advice is always an average that hides the distribution, and if you know that you're actually an outlier in some way, then you have to sort of, like, selectively follow advice because it may not apply to you.”
Ben Gilbert Mar 29, 2023 ▶ 2:47:41 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 neutral
Insight
Gilbert: Traditional jobs are less secure than perceived and cap upside
“People who crave security, which I get, like all humans crave some level of security miss sort of mispriced security because no jobs are as secure as we think they are, but they definitely cap your upside.”
Ben Gilbert Mar 29, 2023 ▶ 2:50:13 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 negative
Insight
High-Value Business Podcasts Forfeit Massive Revenue by Paywalling Feeds
“For the type of podcast that we are, where you have lots of founders and CEOs and hedge fund managers and these sorts of people listening, You could never ask someone to pay you in membership what they are worth to the most valuable advertiser for that slot. A…”
Ben Gilbert Mar 29, 2023 ▶ 58:12 Sessions: David Senra (Founders Podcast) · Acquired
Mar 29, 2023 negative
Assertion Not checkable as stated
Gilbert: Acquired's COVID adaptation episodes were their least-listened to
“It was like our three least listened to episodes covering a pretty amazing stories, but we just branded it wrong. Like Canlis is like the most interesting restaurant story you could ever hear about. And like, we did Intel. That's the only time we've ever done …”
Ben Gilbert Mar 29, 2023 ▶ 48:07 Sessions: David Senra (Founders Podcast) · Acquired
May 18, 2023 bullish
Insight
Gilbert: AI deepfakes will increase the value of content platforms
“Platforms probably have a role to play in verifying authenticity. Like that, that actually raises the value of platforms, because platforms like Spotify, YouTube, you actually can point to, we know for a fact that this was created by the creator, and we can st…”
Ben Gilbert May 18, 2023 ▶ 1:13:15 Spotify CEO Daniel Ek · Acquired
Dec 18, 2023 negative
Disclosure
Gilbert and Rosenthal deeply regret interviewing Sam Bankman-Fried on Acquired
“We totally regret doing it.”
Ben Gilbert Dec 18, 2023 ▶ 1:15:52 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023 negative
Insight
Gilbert: Covering the breaking news cycle creates commodity content
“We very much have moved away from current events, and I think that is in part because of what we talked about earlier, that we want to create n of one content, and the way to create the most possible commodity content is to try to cover the current news cycle …”
Ben Gilbert Dec 18, 2023 ▶ 1:14:08 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023
Insight
Gilbert: Young professionals should learn end-to-end individual economic production
“When you're a young person, you should try to become singularly productive. And I mean productive in the economic sense. That you are able to soup to nuts within your control, make something of economic value, and put it in the world in a way that you own the …”
Ben Gilbert Dec 18, 2023 ▶ 1:45:01 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023 neutral
Disclosure
Gilbert: Acquired will release the same or fewer episodes after going full-time
“People ask, what's gonna be different for Acquired when you go full-time? Are you doing way more episodes? No, absolutely not. We're gonna make the same number or fewer of even better episodes.”
Ben Gilbert Dec 18, 2023 ▶ 28:50 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023 positive
Insight
Gilbert: Harvest when money is abundant, build skills during downturns
“Some advice I gave like three years ago that I really deeply believe in is harvest when everyone else is harvesting and build skills when there's no harvesting to be done.”
Ben Gilbert Dec 18, 2023 ▶ 1:37:28 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023 bullish
Disclosure
Gilbert and Rosenthal to pool investments for growth-stage tech companies
“For companies that we already know well, David and I are going to join our investing forces and invest more in those growth stage market leading tech companies.”
Ben Gilbert Dec 18, 2023 ▶ 1:08:43 Holiday Special 2023 (Audio) · Acquired
Dec 18, 2023
Disclosure
Gilbert transitions to venture partner at PSL to focus full-time on Acquired
“And the way it's going to work, I'm transitioning to a venture partner at PSL, at Pioneer Square Labs here in Seattle, so still get to keep my board seats, which I think keeps me sharp for the show, and stay a friend of the family there, so I'm excited to sort…”
Ben Gilbert Dec 18, 2023 ▶ 6:32 Holiday Special 2023 (Audio) · Acquired
Mar 18, 2024
Assertion Supported
Gilbert: Renaissance Database Grows by Over 40 Terabytes Daily
“Yeah, it says right on their website they have 50,000 computer cores with a 150 gigabits per second of global connectivity and a research database that grows by more than 40 terabytes a day.”
Ben Gilbert Mar 18, 2024 ▶ 2:20:11 Renaissance Technologies (Audio) · Acquired
Mar 18, 2024
Assertion Supported
Jim Simons personally paid $670 million in Renaissance's IRS tax settlement
“Over time, eventually in 2021, the IRS said, no, you made all those trades. That was not a completely separate entity. And so you guys owed 6.8 billion dollars in taxes that you didn't pay. You're going to need to pay that with interest, with penalties. And by…”
Ben Gilbert Mar 18, 2024 ▶ 2:17:06 Renaissance Technologies (Audio) · Acquired
Mar 18, 2024
Assertion Supported
Gilbert: Medallion Achieved 12.5x Leverage via Basket Options
“Competitors generally had about seven dollars of financial instruments for every dollar of cash. By contrast, Medallion's option strategy allowed it to have 12 dollars and 50 cents worth of financial instruments for every dollar of cash.”
Ben Gilbert Mar 18, 2024 ▶ 2:14:43 Renaissance Technologies (Audio) · Acquired
Apr 22, 2024 positive
Assertion Not checkable as stated
Microsoft's 6,000-person Office team consistently hit three-year planned ship dates
“I did always think it was absolutely incredible when I was at Microsoft and we would ship a version of Office every three years, I worked on Office 15, that the entire 6000 person organization had a process in place where we could release to manufacturing, RTM…”
Ben Gilbert Apr 22, 2024 ▶ 4:00:01 Microsoft Volume I: The Complete History and Strategy of founding through Windows 95 (Audio) · Acquired
Jun 4, 2024 bullish
Assertion Supported
Gilbert: Starbucks' 1991 Employee Stock Option Grants Have Appreciated 800x
“So those initial grants, the strike price was six dollars per share. Today, as we speak, the share price is 77 dollars, but there have been six splits since then, which comes out to a 64 X. So that initial grant has 800 X'd since even the part-time employees a…”
Ben Gilbert Jun 4, 2024 ▶ 1:07:05 Starbucks (with Howard Schultz) · Acquired
Jun 4, 2024 positive
Assertion Supported
Gilbert: Starbucks Offered Healthcare to Part-Time Workers and Same-Sex Partners in 1988
“So in 1988, the health benefits roll out even to Part-time employees, including gay couples in domestic partnerships. I believe the first of its kind. That was a 33 store company at that point.”
Ben Gilbert Jun 4, 2024 ▶ 1:06:29 Starbucks (with Howard Schultz) · Acquired
Jul 22, 2024
Insight
Gilbert: Company leaders must repeat core messaging 10x more than expected
“Anyone who's listening who's a leader at a company right now knows that the right amount of repeating yourself to do is about 10 times more than you think it is. You need to just keep Delivering the same message over and over and over again, and that wins.”
Ben Gilbert Jul 22, 2024 ▶ 4:15:47 Microsoft Volume II: The Complete History and Strategy of the Ballmer Years (Audio) · Acquired
Oct 28, 2024 positive
Assertion Not checkable as stated
Rosenthal: Zuckerberg told Acquired he optimizes for impact over money
“And Mark has said so much in so many words to you and me personally that he's not optimizing for financial outcome here. He's optimizing for impact.”
David Rosenthal Oct 28, 2024 ▶ 1:58:00 Meta (Audio) · Acquired
Oct 28, 2024
Insight
Gilbert: Startups seeking complete market dominance should extinguish their hardest competitor first
“If you're okay splitting the market, you go for the white space, and then you say, let's see how much of the low-hanging fruit we can easily get. But if you're Facebook, you're gonna say, let's go to the hardest possible competitor, Extinguish them. And then w…”
Ben Gilbert Oct 28, 2024 ▶ 59:26 Meta (Audio) · Acquired
Feb 24, 2025 bullish
What-if
Gilbert: Rolex would probably rank among the world's top 50 companies
“And so if this thing were to publicly trade, listing with its assets, It's probably top 50 companies in the world.”
Ben Gilbert Feb 24, 2025 ▶ 4:24:55 Rolex (Audio) · Acquired
Apr 21, 2025 positive
Assertion Open · timeframe Apr 2025
Epic generates $5.7B in revenue on $70K in equity
“They do 5.7 billion dollars in revenue today. They dominate an industry, at least here in the United States. And in total, they raise 70,000 of equity capital and 70,000 of bank debt.”
Ben Gilbert Apr 21, 2025 ▶ 43:11 Epic Systems (MyChart) · Acquired
Dec 15, 2025 positive
Disclosure
Rosenthal and Gilbert: Acquired operates with no assistants or sales agents
“No, no, no assistance. No, we do everything. Michael Lewis: You don't sell, Michael Lewis: You don't have an ad sales. David Rosenthal: There's no agent. Michael Lewis: We do all the selling. Ben Gilbert: We love doing the ad sales ourselves.”
David Rosenthal Dec 15, 2025 ▶ 1:10:54 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025
Insight
Gilbert: Scale economies prevent new competitors from matching Acquired's production depth
“The fact that there's a large number of listeners to amortize all the inputs across makes it So that we can do an unreasonable amount of things for each episode. I mean, if you were gonna try to compete with Acquired today, you couldn't do all the stuff that w…”
Ben Gilbert Dec 15, 2025 ▶ 2:03:30 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025
Insight
Gilbert: Three specific criteria define a great Acquired podcast episode
“There's three things that make a great acquired episode. One, there's a compelling hero protagonist that takes a hero's journey, where we're going from obscurity to ubiquity. How it starts is this thing that nobody cares about, and then it becomes the most imp…”
Ben Gilbert Dec 15, 2025 ▶ 33:49 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025
Insight
Gilbert: Marginal dollars have far less value than early dollars
“All dollars do not have equivalent value. The marginal dollars have way smaller value than the early dollars.”
Ben Gilbert Dec 15, 2025 ▶ 1:29:33 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025 positive
Disclosure
Acquired is 3x to 4x oversubscribed on potential sponsors
“We're probably three or four X oversubscribed on, like, people who really could convert on becoming sponsors if we said, sure, we'll take you.”
Ben Gilbert Dec 15, 2025 ▶ 1:27:31 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025
Insight
Gilbert: Great businesses hold unmonetized potential energy off financials
“Great businesses have a stored potential energy that you can't see in the current financials.”
Ben Gilbert Dec 15, 2025 ▶ 1:33:15 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025 neutral
Insight
Gilbert: Acquired's business model works due to privilege, not universal correctness
“I don't think we've figured out a better way to do it. Like, I don't think we figured out the way to do it and everybody else should just snap to our way. It's like, we have an enormous amount of Privileged that we can run a business in this way, and most peop…”
Ben Gilbert Dec 15, 2025 ▶ 2:29:58 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025 negative
Disclosure
Gilbert: Acquired operates a strict policy of never working with ad agencies
“Here's, here's a rule. We don't work with agencies. If an agency reaches out and says, we want to place ads on your podcast, we write them a very nice note. If we're able to get to the email and say, oh, we don't work with agencies, but thank you so much for y…”
Ben Gilbert Dec 15, 2025 ▶ 2:05:55 10 Years of Acquired (with Michael Lewis) · Acquired
Dec 15, 2025 negative
Insight
Celebrity guest interviews underperform Acquired's core narrative storytelling episodes
“We thought the interviews would be better than our core storytelling episodes because we hadn't discovered that the Ben and David storytelling is our N of one product. It is the thing that we uniquely can do that no one else can do, and we thought getting thes…”
Ben Gilbert Dec 15, 2025 ▶ 52:25 10 Years of Acquired (with Michael Lewis) · Acquired
May 18, 2026 bullish
Insight
The lowest-cost fund provider will always win in debt and money markets
“The lowest cost provider will win in those markets.”
Ben Gilbert May 18, 2026 ▶ 1:40:55 Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
May 18, 2026 positive
Insight
Passive indexing protects retail investors from their own destructive overactivity
“Passive index investing just lends itself better behaviorally. If you're in one of those funds to just saying, I know the market's up, I know the market's down, but whatever. I own the index. I've made my piece. Whereas if you are either the active manager try…”
Ben Gilbert May 18, 2026 ▶ 1:43:59 Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
Jun 23, 2026
Insight
Competing with entrenched incumbents requires orthogonal technological leapfrogging
“There's a great business model lesson in this, which is with the first two Mickeys flopping, if you just do the same thing as an existing competitor who already has distribution, brand, customers, It's not enough. You need to go do something leveraging a new p…”
Ben Gilbert Jun 23, 2026 ▶ 47:48 The Walt Disney Company: The most successful enterprise for monetizing human nostalgia (Audio) · Acquired
Jun 23, 2026 neutral
Assertion Not checkable as stated
Extensive research uncovered zero evidence that Walt Disney was anti-Semitic
“I turned over every stone I possibly could on this company, and we spent, I don't know, the better part of the year so far researching this, and I found zero evidence of that.”
Ben Gilbert Jun 23, 2026 ▶ 2:13:11 The Walt Disney Company: The most successful enterprise for monetizing human nostalgia (Audio) · Acquired
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