Daniel Schwartz

“It's so hard to find great people. To be great CEOs. It's like, how are we gonna find 10? So I think it's great to be able to buy one business every once in a while and send in your A++ players to get involved.”

“I think also staying quote unquote small allows us to attract some of the best, best, best people on the investment side here, because we could still offer people founder-like economics, a path to partnership, a path to taking on responsibility much, much fast…”

“Josh when he was 25, and when Alex promoted me to be CEO at 32, I think Josh became CFO at 26.”

“I did not allocate stock equally to people. I gave certain people multiples of what other people got based on our thoughts of people's existing and potential future contribution.”

“We'd go to Wharton and HBS and get the resume book. Cold email people who had impressive resumes, and if they seemed like they were really passionate and they were looking for like a project and not just a job, I'd offer people jobs on the spot, which again wa…”

“Overhead exceeded EBITDA, and CapEx was about half the EBITDA, despite the fact that it was 90% franchised at the time.”

“But look at the time, no one else showed up and there was a go shop, window shop, whatever they call it, and no other private equity firm showed up.”

“Two-thirds of the business is already outside of the U.S., and when you look at who is buying the brand and the market share the company has within those customer cohorts, it's actually pretty good.”

“I wouldn't recommend one of your listeners buy a lousy business with a big zero-based budgeting overhead opportunity, because you're just going to have a slightly more profitable lousy business.”

“The last two transactions that we. Did were essentially family businesses. We were viewed as a great home, a great long-term home for iconic founder led family businesses. And so I like over time with the success of those two investments for us to hopefully be…”

“I had the great opportunity to interview the guys at three G Alex Baring and Daniel Schwartz talking both about three G and their Burger King deal, which is one of the most successful private equity deals ever.”

“We don't like to think of that being delineation between ownership and management. And like the people who are running the company are the people who own the company. And I think it results in them being more entrepreneurial. It results in them bringing this o…”

“I would make regular trips to business schools, get the resume books in advance, and cold email folks who I thought had impressive resumes, and if you get an email from, say, Cold email CEO or CFO of this company. I'm on campus, and do you want to meet? I got …”

“Which in hindsight, it's like, oh, it was really obvious that Tim Horton's EBITDA is now 80% higher or whatever it is, and the cash flow doubled. We've expanded it globally.”

“While there would be back of the house synergies in terms of finance, procurement, supply chain, legal, we actually felt it was very important for the brands to maintain their own distinct brand identity and brand management. Part of that is real estate develo…”

“Don't be afraid to make a big bet on someone if you really believe in that person. Even if maybe that person isn't a hundred percent ready at the time, don't be afraid. Make the bet.”