Ben Gilbert: evaluation

Transcript context

…That is the craziest thing to me about this company is at 47 years old, they have never lost a customer. Actually, we found out that’s not totally true. They lost one customer once for six months, and then that customer came back six months later. The company’s founder, Judith Faulkner, is undoubtedly one of the great founders of our time. You probably don’t know much about her or the company because the company is still privately-held, and Judy and her family foundation own about half of it. Despite being large—I think at this point they’re close to $6 billion in revenue and over 14,000 employees—they have a stated goal to never go public and never be acquired. And Judith (at age 81) has created a succession plan and a trust structure for her voting shares to ensure that that will stay true forever. We heard all sorts of stories about companies sniffing around Epic over the years trying to buy them. GE, Microsoft, Google, everybody you would imagine wants to buy this company, and it’s never going to happen.…

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