PODS

“They have, ah, risk metrics which have forced selling on the way down, so they do the opposite of what, it might be rational for their business model, but it's not rational for long-term investors. So you have a lot of these things that will Continue to create…”

“At a lot of these multi-managers, there are a couple of pods, and maybe I am out of date, who are running a disproportionate amount of money with really good returns. The reason they have a disproportionate amount of money is because they have a long history o…”

“80% of the returns of these pods are generated on quarterly earnings or the day after quarterly earnings, which means they are looking out for one quarter.”

“And the pods have grown four X since Long Pond has existed.”

“That doesn't really exist anymore in broad strokes. It's been diced up. You've got the distress funds, you've got the pods, you've got some single managers left, but there's not so much capital going to broad opportunistic mandates. It's become more specialize…”

“It would be very hard to build a team if you started from scratch today of 10 very great senior analysts with just generalist frameworks because they're coming from single manager hedge funds often or pods where they've had a specialization.”

“I think we have like 25 pods right now, maybe 30, Depends what you call it, pod”

“We are also tracking the real-time KPIs, because that's what everybody's using. So I would call that today table stakes, to know what the pods and the short-term investors are seeing in the data, and so sometimes it's helpful to say, oh, they're going to miss …”

“And I think what the pods do really well is they put it in writing. They tell you what your percentage is going to be, and then you go and you make money. And so that to me seems to be effective. And then what they do is they put a whole lot of handcuffs on yo…”

“They've done over four million pickups and deliveries. They've never dropped a container never had a bottom fall out of a container.”

“The way I looked at it back in those days, I could rent a warehouse for five dollars a square foot, and this warehouse was 30 feet high and, you know, a few columns in it and stuff. So I can stack the boxes, right? So I'm selling, I'm renting the boxes for vir…”

“I think I raised seven million dollars on that first friends and family round.”

“And number one is we dropped right in between two major industries, the full service movers, the Mayflowers, the Allied, those guys. And the truck rental people, U-Haul. If you think about it, back in those days, before portable storage, if you want to move fr…”

“The way to grow a business without capital is through franchising. Franchising is really a financing tool.”

“The other part of the reason is I had these early investors that had been in now for 10 years. And really had seen no return on their investment, and, ah, certainly were entitled to it, and so, ah, I, you know, I was taking care of them, and, ah, the timing ju…”

“Now what we did is we dropped a new company, new solution, new offering for the consumer between U-Haul and pods that saves the customer money, lets them take everything under their own control, saves us a ton of logistics and headaches, and we don't charge a …”

“I actually confirmed with the CFO at the time. Are you guys making any money at the, on the deliveries and stuff? And he said, no, we don't make any money. He says, if I get rid of that piece of the business, I'd do it in a heartbeat.”

“I think we're going to grab more customer share from U-Haul than we will pods, but we will certainly get the portable storage customer as well.”

“I would tell you that, you know, we've been in this now call two years. I'd say we're at the same level pods was seven years into the business.”

“I don't think it's converted movie theaters. I don't think it's pods and we're actually working on a number of different ways to accomplish this”