Alex Hormozi

And those businesses, I don't know what kind of margins those run, but, like, I'm sure, like, I would look at who are, like, my first steps would be, like, if I was, like, transplanted in, I'd be like, okay, who did we buy land that was developed from over the last 10 years?

And I would get all of those names.

And then I would be smiling and dying slash trying to fly out or fly them out to say, like,

some of those guys are gonna be older some of those guys aren't gonna give a shit anymore and they've got a good team or whatever and i'd be like great like how can we make something work here and i'd be looking at doing a deal that way because it depends obviously at your size it's buyer build and it really depends on how entrenched the inroads are and how from like the zoning and all that bullshit how relationship dependent it is at the levels that you're looking at i'll give you a

If you think about like open AI and some of the new AI stuff that's going on there, one of the strategies that's becoming more prevalent is rather than try and buy these AI companies that let's say they've got 30 geniuses that work there and trying to buy that company for a billion dollars,

They just look at the top 20 of the 30 people who don't have, who have, maybe they got diluted because of the way the VCs ran the deal or whatever.

And then they just say, hey, I'll give you, and you've seen these like $100 million signing bonuses probably like flying around on Instagram.

And it sounds absurd, but it actually is more efficient to give one person or the four key people in the business $100 million than buy the business for $4 billion.

So it's just a pure allocation of capital play.

And so from a buy versus build, if you can strip the talent out and they can keep the relationships and then you can rebuild it, that'll be the most efficient way to do it.

But the and again, the test is, is that would be my hypothesis, like how ingrained are those inroads?

If they're super entrenched and very difficult to transport those relationships, then I would be looking at I'll just buy the whole co older guys oftentimes will actually take super long or not periods because it just becomes an annuity for them.

So sometimes they're willing to take 15 years seller financing just to know that they're going to get paid and collateralize it against the business.

And you already have assets and so do they.

And so that can actually be a really, it's a win-win structure for many of them.

Just as a consideration, but that's probably, I would, you're at the size now rather than me say, here's how I'd build a land development business.

That's probably how I think about it.

I think that every business at a large enough scale becomes a business of businesses.

Okay.

So like Amazon is not just like a business.