#279 What I Learned Before I Sold to Warren Buffett

**David Senra** (0:00)
I want to tell you about a one-time only limited event that I don't think you're going to want to miss. I am doing a live show with Patrick O'Shaughnessy from the Invest Like the Best podcast in New York City on October 19th. Patrick has interviewed over 300 of the world's best investors and founders for his podcast. I've read over 300 biographies of history's greatest entrepreneurs for my podcast. We'll be talking about what we learned from seven years of podcasting, sharing our favorite ideas and stories, and doing a live Q&A. There will also be special event-only swag. If you live in New York City, I think it's a no-brainer. But if not, I think it's a great excuse to fly in. I've already heard from a bunch of people that bought tickets, they're flying in from other cities. Some people are flying in from other countries. That's setting the bar really high, so I will have at least four shots of espresso or four energy drinks before or during the show so we can make it a night that you'll never forget. If you're interested in attending this unique live event, I will leave a link down below. I highly recommend you get your tickets today, and I hope I get to see you in New York on October 19th. One of my favorite things about making this podcast is that I get to talk to so many founders. A lot of those founders are dead, so I have one-sided conversations in the form of reading their autobiographies or their biographies. But in addition to that, because so many different entrepreneurs and founders listen to the podcast, I get to meet and talk to founders still building companies today. And a reoccurring theme on these conversations, a lot of these conversations I have with founders, is that a large part of your life is actually searching for your life's work. A lot of them are looking for something that is uniquely them, that they can do forever. And in almost every single case, that means starting more than one company. And this is so common that today's sponsor, Tiny, has built an entire business around buying other businesses. And Tiny is doing something that's really smart. They know there's a ton of entrepreneurs and founders that listen to this podcast, that are building businesses, some of which have a business they want to sell today, some of which will have a business that they want to sell in the future. And what I like about them is the way they differentiate their offering compared to other people that buy businesses. And that's just, they're no bullshit. And so when a founder goes to tiny.com and says, hey, I want to sell my business, they get a response within 48 hours, there's an offer made within seven days, and they close within a month. The founder gets a bag full of cash upfront. If you're a founder that wants to sell their business now or in the future, go to tiny.com.
This episode is brought to you by Capital. Capital makes it easy to raise, hold, spend, and send funds all in one place. When I talked to the founder, Jordy, he had the best way to describe Capital. He said it's banking built for founders. And you can tell the difference when a founder is actually building for other founders, because they take something that's normally complex and a headache, and they make it simple and automated. So what do I mean? To get started, you can transfer funds from another bank account, but you can also start a fundraising round directly from your capital account. Instead of the back and the forth and the headache from the founder's perspective, that's usually involved in raising money, capital helps you automate everything from open to close. You can set the details of your round. You can choose to raise in either fiat or crypto or both. You can invite investors to agree to your terms and then sign all of the documents and receive your funds in one click. Every founder that uses capital gets a business checking account that will enable you to keep unlimited deposit funds for free. It is a business checking account for the modern founder. You also get a virtual debit card, which means with just a tap, you can spend your funds anywhere. And then when you need to pay your vendors or your partners, they make it easy to send money. This is what I mean that you can always tell a founder is building for other founders because capital makes it extremely easy to pay contractors and vendors. And you can either do it with ACH or a wire transfer, and the wires are free. Capital is the first and only business checking account that a founder will need. You can get started for free by going to capital.xyz. And I want to tell you about one more sponsor before we jump into today's episode. It is Tegas. Tegas has a very special relationship with all the shows on the Colossus Podcast Network, which founders joined a few months ago. Patrick from Invest Like the Best is also the founder of the Colossus Network, and he's a giant Tegas fan, so much so that his investment firm, PositiveSum, just put $20 million into Tegas. And so I called Patrick the other day, I was like, hey, how do you describe what Tegas does? He's like, listen, it's a search engine for business knowledge. It is a hub for where you do research on companies. He says investors and founders go to Tegas, they say, hey, I have a question. Tegas routes that question to the best person in the world to answer it. That part is really important because the difference in the answer from the first best person in the world is way more valuable than an answer from the 10th best person. That is why he describes it as a search engine for business knowledge, because you get the knowledge that you seek, it's higher quality, and you get it way faster. And what I think is also interesting to you and I is how he describes the founders. He called them ultra competitive, ultra hardworking nutcases. They go so fast, and they think about the company they're building as a work of art. So if you're building a company, or you're a venture capitalist, or you work in public equities or private equity, and you want to see what Tegus platform can do, the best thing to do is to go to tegus.com and start a free trial. That's tegus.com.