Patrick O'Shaughnessy

You have a real estate fund, for example, like that's like a surprising thing coming out of health care.

Maybe tell that story.

Why real estate?

And what is your philosophy of stacking unfair advantages and how to think about that as you build the firm?

talked mostly about what you buy and what you do.

We haven't talked about selling these businesses.

Who do you sell to?

What have you learned about the relationships with those sellers?

You're selling a product.

The product is a business to some financial or strategic buyer.

What are the features that they look for in a product?

And how do you think about that final part of the chain here?

So funny to hear you describe all these elements that I'm just picturing this big, effectively like a money machine.

The widgets themselves are companies and platforms, and you're perfecting the factory, if you will.

What parts of the factory floor do you think are interesting or surprising that we haven't talked about yet?

I think you told me that this is a crazy stat, if it's true, that nobody above an associate level has ever left Shure.

How have you made that happen?

There's a lot of people, a lot of years, a lot of companies.

Talk to me about career trajectory in the system there.

Yeah, I love the idea that I think you pay for people's dinner if they want to go out if there's three people or something like that.