Brendan Foody: belief

Transcript context

…Where else do you think of as price elastic? I think that building businesses is also. A lot of the product and distribution associated with software is certainly going to be something we see a lot more of. I think there’re a lot of domains. Even if you think about investing — obviously, it’s not as price elastic as software, but I do think that there’s still enormous inefficiency with respect to how we allocate capital in the economy. If I think back to the early days of Mercor, we were having a hard time getting our $10,000 of working capital for our initial seed investments. Then very quickly, once you get to a reasonable scale, the markets are very, very capitalized. I think a lot of this early capital allocation, as well as even just better understanding how companies will develop over time, is going to be really interesting. Also, how that information and analysis manifests itself within companies. For an operator — they have this investing problem of what are all the different bets that they have within their companies? How do they allocate capital and resources associated with that? I think that there’s so much elasticity with respect to how we build more products, how we distribute those products, and how we allocate resources within companies more effectively. What will education look like five to ten years out?…

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