Justin Ishbia

I don't think it's rocket science.

Use ophthalmology as an example.

We'll try and find an ophthalmology company.

I'll try and identify in that same town

three or four of their ophthalmology practices in town and call them up and we'll do a secret shopper or something and ask them, if your mom had to have a cataract surgery and she could not go to your practice, who would you send her to in town?

And I want the company that I'm buying to be on that list multiple times.

Now, you have to recognize there's always in town a coconut Pepsi.

There's somebody that likes each other and somebody doesn't.

But people in town know who is pretty good in town.

So why it's so important is reputation of that first group is everything.

Because those who are in the know only want to join the winners.

The New York Yankees are oftentimes one of the best Major League Baseball teams.

Very different than the AAA team.

There's no way the Los Angeles Dodgers want to join a AAA team.

The Dodgers would join the Yankees in a roll-up of the baseball industry.

because they're viewed as best in class.

So I think we have to take it the same way.

So reputation.

Number two, I want a founder who has a shared vision to grow and has a desire to learn.

Back to curiosity.