Daniel Schwartz
speaker
501 appearances
1 recordings
1 series
first heard Feb 2026
last heard 10 Feb
Daniel Schwartz’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.
Appearances
Well, I'd like to sit here and say the investment memo for Burger King said that it was going to be a platform company.
And we're great visionaries.
There's no such memo.
Well, there was a memo.
It just didn't say that.
After five years, this will be worth three times.
Yeah.
So getting into Burger King, we didn't know that was going to be the case.
But having said that, it's a different nature here.
With all these businesses, you have to, from an outside in, do enough work that you get comfortable that you believe they're going to be a good business and you have to hope to own it forever.
But this came up in your interview with Matt and Alex that you only really know and understand a business once you own it and you're inside of it.
You only know if it's a forever business once you're really part of it.
And we do as much work as we can to maximize the chance that the business we get involved with is going to be the next forever business for us.
Would you agree?
For us, it's like we try to bring this ownership mentality where the folks running the business are large shareholders and they're acting like owners and not management.
And then that ownership mentality then needs to be applied both to cost and to revenue, to growth.
And...
When you apply it to cost, as Alex said, you do this bottoms-up analysis.
And in many cases, it enables you to extract meaningful amount of value in companies.
But I wouldn't recommend one of your listeners buy a lousy business with a big zero-based budgeting overhead opportunity because you're just going to have a slightly more profitable lousy business.
Showing 401–420 of 501 · page 21 of 26
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