Justin Ishbia

I followed your show for a number of years and it's been so impressive what you've built.

So you guys have a best in class audience and showing them how to be part of it.

To create enterprise value as a system, no one person creates a star.

And so our view has always been like, how to create a system, a machine, a process that creates differentiated results outcomes.

And I was raised in an environment that you always look for opportunities where others aren't looking.

And my view of the world is the last inefficient part of the private market ecosystem is the microcap.

And this is where we spend all of our time.

This is businesses we define as sub 10 million EBITDA and investment.

And why most people don't play here is I think several reasons.

I mean, it goes back to the system of the star dynamic is that in order to play here, it takes more resources than normal.

You're buying a business with four of EBITDA, no audit, and imagine a team that is oftentimes, I would say, running the biggest business that it ran before that day.

It's different than buying a business that's doing 50 of EBITDA with a professional management team that's been coming in together and have run a business three times the size before and now coming down to run it.

And so back to the system.

To me, everything goes back to the system.

Everyone has a role for the organization because I thought of sports as well.

How do you become best person at your job day in, day out?

How do you become the best controller?

How do you become the best deal professional?

How do you become the best marketing leader?

And so the system for us is documentation.