Enduring Ventures

“Despite having had that really clear message from him, we almost immediately went, oh, it'd be nice to have a recruiter on our team. Let's hire a recruiter. And then sure enough, what happens, she was a perfectly good recruiter, but then the CEOs start losing …”

“And the one we looked at in, in in the Midwest was doing about Four million of EBITDA. We could have bought it at, what was it Xavier? Maybe four times EBITDA at the time?”

“The next thing we do, let's reverse engineer. What is the last business we would ever want to work on? Right? Like, What is something that we would want to work on for the next 2030 or 40 years, which is really different from our startup experience”

“And so having an internal capital market means I don't need all the friction of going to a pool of investors and pitching them an idea and saying, here's how much you get and here's how much I get. And, or if I need debt, going to a bank and saying, okay, well…”

“Buffett has a view that basically it's his job to allocate capital and nobody else's. And I think there's a world where you can train your management teams to also be buyers of businesses in their sector and to Smartly allocate capital”

“In a weird way, local plumbing and HVAC is as much about internet marketing as it is about the toilet.”

“Xavier and I, you know, relative to maybe a year ago, we're still investing. We're still looking at opportunities, but we're happy to be patient for another three to six months to see where kind of the world lands, where everything resets and then pick up the …”

“So for example, we don't have any debt that is guaranteed by the parent company. That's very important because then If business A, for some reason has a catastrophic failure, it doesn't take down the rest of the ship.”

“So all of our original investors along with me and Cieva have that treatment in the company. And you do as well as an investor. I think about the first eight million that we raised qualified as QSPS.”

“Our C corporation has no employees. It's we actually even see, even I just get a salary from enduring consulting group, LLC, which is a subsidiary.”