Hays: Search funds fail when they assume technology can replace owner-operator relationships
Jordi Hays · The Secret Billionaire Party (ep6) · Nov 3, 2024 · at 2:06:49
Technology Brothers co-host Jordy Hays analyzes the trend of MBA graduates raising search funds to acquire local small businesses (like waste management) expecting software to easily improve margins.
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“In the trap is that they think that, oh, it's our, it's just a fundamentally a great business and we're going to layer in technology and make it an even better business. And the tough truth is that a company is basically as good as its management.”
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