Spearfishing for Growth: Rare Market Opportunities and Bold Bets

Resources

Resources & Recommendations

Books

• "Thinking, Fast and Slow" by Daniel Kahneman - This book explores two systems of thinking and was referenced in the context of developing a framework for decision-making that combines a checklist approach with intuition.
• "The Checklist Manifesto" by Atul Gawande - This book, built on the work of Daniel Kahneman, discusses the effectiveness of checklists, particularly in high-stakes fields, and was mentioned when discussing decision frameworks in investing.

People Mentioned

• Karim and Eric (Ramp founders) - They were mentioned as understanding the need to automate manual expense management to free up finance teams for higher-leverage work.
• Alex Behring (3G Capital) - Martin Escobari's initial boss and mentor who initially rejected him for a job but eventually hired him due to his persistence. He is praised for his smarts and toughness.
• Jorge Paulo Lemann (3G Capital) - One of the founders of 3G Capital, he was referenced as a "spearfisherman" investor who patiently waited for opportune investments like Brahma.
• Marcel Telles (3G Capital) - Another founder of 3G Capital, mentioned alongside Jorge Paulo Lemann for their investment strategy.
• Beto Sicupira (3G Capital) - The third founder of 3G Capital, also mentioned for his role in the successful investment in Brahma.
• Don Sull (Harvard Business School) - A professor and mentor from Harvard Business School with whom Martin Escobari partnered to write a book analyzing successful and less successful companies in turbulent economies.
• Elon Musk - Referenced for his ambitious approach to achieving a 10-year plan in one year, which resonated with the "dog years" experience of working in the dot-com era.
• Chuck Feeney (General Atlantic Founder) - Described as the "accidental billionaire" and founder of General Atlantic, whose philosophy of using wealth to improve the human condition shaped the firm's unique origin story and mission.
• Steve Denning (Former General Atlantic CEO) - Martin Escobari's former CEO at General Atlantic, who advised him to develop a checklist for investment decisions.
• Dave Hodgson (General Atlantic Co-founder) - Co-founder of General Atlantic, who advised against relying solely on a checklist, advocating for a combination of intellect and intuition. He is also noted for his ability to stay sharp and adaptable to new trends.
• John Kim (General Catalyst) - A well-known fundraiser who has a simple equation for persuasion: desire minus fear.
• Linda Rottenberg (Endeavor Founder) - The founder of Endeavor, a non-profit organization, who taught Martin Escobari the value of mentoring even in one's darkest moments.

Organizations & Institutions

• 3G Capital - A private equity shop co-founded by Alex Behring, Jorge Paulo Lemann, Marcel Telles, and Beto Sicupira, known for its strategic investments and "spearfishing" approach.
• General Atlantic - Martin Escobari's firm, highlighted for its unique founding story, long-term structure, permanent capital, single P&L, and partnership culture, allowing it to invest differently than other growth equity firms.
• Endeavor - A non-profit organization that supports high-impact entrepreneurs, where Martin Escobari mentors.

Websites & Online Resources

• Ramp.com - Mentioned as a solution for automating expense management and freeing up finance teams.
• Alphasense - A market intelligence platform used by hedge funds, noted for its AI-powered channel checks.
• Ridgelineapps.com - A software provider for asset management technology, mentioned as a partner in innovation.
• Joincolossus.com - The website for the podcast, where listeners can find transcripts and other publications.
• Psum.vc - The website for Positive Sum, where listeners can learn more about Patrick O'Shaughnessy's firm.

Other Resources

• Brahma (Beer Company) - A Brazilian beer company that was successfully acquired and grown by the 3G founders, used as an example of "spearfishing" investment.
• Antarctica (Beer Company) - A competing beer company to Brahma, which eventually merged with Brahma, illustrating the strategic long-term vision of 3G founders.
• Submarino.com - An e-commerce company co-founded by Martin Escobari, described as an "Amazon.com merged with Alibaba" for Brazil.
• XP (Investing Platform) - An investing platform in Brazil that Martin Escobari invested in, highlighted for its role in expanding stock ownership in the country.
• Cognition (AI Company) - Mentioned as a recent example of a company experiencing incredibly rapid growth in the AI space.
• Anthropic (AI Company) - Refered to for its rapid revenue growth in the AI sector.
• Cursor (AI Company) - Mentioned alongside Cognition and Anthropic as a rapidly growing AI company.
• Liftoff (Marketing Optimization) - A company in which General Atlantic is an investor, focusing on marketing optimization.
• Insider (Enterprise Marketing Optimization Software) - A software company that General Atlantic invested in, specializing in enterprise marketing optimization.
• Vi labs (Data Company) - An Israeli data company that General Atlantic invested in, which is turbo-charged with AI.