David Rosenthal: belief

Transcript context

…I should say a profitable company, where they piled up too much cash to reinvest all their cash flows. But if you think about this model of what is an unregulated utility company and technology, it can be so defensible and powerful. That's what Square is. That's what Shopify is. I think two thirds of our sponsors on Acquired already know that's what Vanta is, Modern Treasury, Vouch, even Mystery. If you can provide a mission critical piece of infrastructure that other companies can use, that they need but doesn't make their actual beer taste better, it's a great place to be. I was thinking about this. Just to go off script again because it's fun up here. I think this is actually the same thing as the economic theory of specialization of labor, but applied to businesses, where it's basically well-understood at this point that GDP tends to go up when people get really good at a thing, focus their time on doing that thing, and then turn to their neighbor who's good at a different thing to provide that service back to them, rather than everybody doing everything for themselves and their lives. This is just that on a business scale.…

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