Invest Like the Best with Patrick O'Shaughnessy

My guest today is Dylan Field [https://x.com/zoink]. Dylan is the co-founder and CEO of Figma and last joined me on Invest Like the Best in 2020. A lot has changed since then and we explore the evolving landscape of design and how Figma has been navigating AI while staying true to its founding vision of eliminating the gap between imagination and reality. Despite Figma's incredible success in becoming the default design platform, Dylan remains deeply motivated by helping users achieve their goals. He shares fascinating insights about the underhyped aspects of AI reasoning capabilities, the future of design literacy, and why he believes truly great design will always require human craft and creativity. Please enjoy my discussion with Dylan Field.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. [https://joincolossus.com/episode/designing-the-future/] ----- This episode is brought to you by Ramp [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest]. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it’s backed by more of my favorite past guests (at least 16 of them!) than probably any other company I’m aware of. Go to Ramp.com/invest [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest] to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense [https://www.alpha-sense.com/invest/]. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest [https://www.alpha-sense.com/invest/] and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –  This episode is brought to you by Ridgeline [https://www.ridgelineapps.com/]. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com [https://www.ridgelineapps.com/] to learn more about the platform. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes [https://www.joincolossus.com/episodes].  Follow us on Twitter: @patrick_oshag [https://twitter.com/patrick_oshag] | @JoinColossus [https://twitter.com/JoinColossus] Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com [https://thepodcastconsultant.com/]). Show Notes: (00:00:00) Learn about Ramp, AlphaSense, and Ridgeline (00:07:11) Current State of Technology and Optimism (00:09:21) Entrepreneurial Mindset and Long-term Thinking (00:10:23) Challenges of Building in Stealth Mode (00:12:44) AI and the Future of Design (00:14:07) Navigating AI Opportunities and Risks (00:17:05) Design Principles and User Experience (00:29:55) Future of Interfaces and Interaction (00:31:45) Dark Patterns and Ethical Concerns (00:33:42) Personal Motivations and Company Vision (00:40:04) Balancing Responsibilities as a CEO (00:41:54) The Future of Design and AI Integration (00:44:48) Speculating on AI's Impact on Design (00:46:26) Encouragement to Experiment and Innovate

My guest today is Tal Zaks [https://www.linkedin.com/in/talzaks/]. Tal is a physician-scientist turned biotech executive and investor who served as Moderna's Chief Medical Officer during their COVID-19 vaccine development, giving him an extraordinary perspective on one of modern medicine's pivotal moments. His combination of medical expertise, platform innovation experience, and investing acumen allows us to explore the interconnected challenges of turning scientific breakthroughs into viable medicines while generating venture-scale returns. We dive deep into lessons from Moderna's mRNA platform, examine how emerging technologies might reshape drug development, and the fundamental question of what it means to make people healthier. For investors, entrepreneurs, and anyone interested in the future of medicine, this discussion provides a window into both the immense potential and profound challenges of advancing human health. Please enjoy my conversation with Tal Zaks.  For the full show notes, transcript, and links to mentioned content, check out the episode page here. [https://joincolossus.com/episode/bridging-science%E2%80%A6cine-and-returns/] ----- This episode is brought to you by Ramp [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest]. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it’s backed by more of my favorite past guests (at least 16 of them!) than probably any other company I’m aware of. Go to Ramp.com/invest [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest] to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense [https://www.alpha-sense.com/invest/]. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest [https://www.alpha-sense.com/invest/] and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –  This episode is brought to you by Ridgeline [https://www.ridgelineapps.com/]. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com [https://www.ridgelineapps.com/] to learn more about the platform. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes [https://www.joincolossus.com/episodes].  Follow us on Twitter: @patrick_oshag [https://twitter.com/patrick_oshag] | @JoinColossus [https://twitter.com/JoinColossus] Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com [https://thepodcastconsultant.com/]). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:08:37) State of Medicine Today (00:09:44) Investment and Innovation in Medicine (00:13:14) Challenges in Biotech Investment (00:17:18) Personalized Cancer Vaccines (00:22:58) Investing in Biotech: Process and Considerations (00:28:38) Multidisciplinary Approach in Pharma (00:41:35) COVID-19 Vaccine Development (00:46:27) Funding and Manufacturing Challenges (00:48:01) Unprecedented Vaccine Safety Measures (00:50:38) Public Perception and Trust Issues (00:53:54) Future of mRNA and Nucleic Acid Medicines (00:58:04) Personalized Medicine and Data Collection (01:04:48) AI's Role in Healthcare (01:08:34) Investment Strategies in Therapeutics (01:14:57) The Human Element in Medical Innovation (01:21:58) The Kindest Thing Anyone Has Ever Done for Tal

My guests today are Dwight Churchill [https://www.linkedin.com/in/dwightchurchill] and Gaurav Misra [https://x.com/gmharhar], co-founders of Captions, which uses AI to generate and edit talking videos and has grown to significant scale at remarkable speed. We explore a key distinction in AI: tackling bounded problems like video generation versus unbounded problems like general intelligence and what this means for building sustainable businesses. We also explore their unique data flywheel, why video generation could reach Hollywood quality within 18 months, and why building advanced AI products doesn't require huge teams. Please enjoy this discussion with Dwight and Gaurav. For the full show notes, transcript, and links to mentioned content, check out the episode page here. [https://joincolossus.com/episode/building-captions/] ----- This episode is brought to you by Ramp [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest]. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest-growing FinTech company in history, and it’s backed by more of my favorite past guests (at least 16 of them!) than probably any other company I’m aware of. Go to Ramp.com/invest [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest] to sign up for free and get a $250 welcome bonus. – This episode is brought to you by AlphaSense [https://www.alpha-sense.com/invest/]. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest [https://www.alpha-sense.com/invest/] and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –  This episode is brought to you by Ridgeline [https://www.ridgelineapps.com/]. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com [https://www.ridgelineapps.com/] to learn more about the platform. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes [https://www.joincolossus.com/episodes].  Follow us on Twitter: @patrick_oshag [https://twitter.com/patrick_oshag] | @JoinColossus [https://twitter.com/JoinColossus] Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com [https://thepodcastconsultant.com/]). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:07:49) The Evolution and Impact of AI (00:09:14) Challenges in Video Data and AI (00:10:36) AI in Media Generation (00:12:07) Building a Sustainable AI Business (00:14:56) The Journey of a Video AI Company (00:25:41) AI Video Editing and Creation Tools (00:29:58) Future of AI in Video and Business (00:37:51) The Future of Likeness in Video (00:39:25) Training Models on Human Data (00:41:15) Competitive Landscape and Copycats (00:44:01) The Role of Research Talent (00:46:25) Pricing AI Software (00:51:51) Investor Perspectives on AI (01:02:44) Lessons from Snap (01:07:04) The Kindest Thing Anyone Has Done for Dwight & Gaurav

My guest today is Jack Kokko [https://www.linkedin.com/in/jkokko/]. Jack is the CEO and Founder of AlphaSense, an AI-powered search engine for market intelligence. He shares how AlphaSense began by aggregating fragmented financial data sources and evolved with the advent of large language models to change the research experience completely. He speaks to their recent acquisition of Tegus earlier this year, reshaping the business and further supporting their expansion to serve all types of companies instead of exclusively investment firms. Jack has been navigating the AI revolution from its earliest days and you can feel his excitement when he talks about the future. We discuss building an agile platform, the importance of managing cultural integration, balancing AI capabilities with user trust, and the frontier for this technology. Please enjoy my conversation with Jack Kokko. For the full show notes, transcript, and links to mentioned content, check out the episode page here. [https://joincolossus.com/episode/building-alphasense/] ----- This episode is brought to you by AlphaSense [https://www.alpha-sense.com/invest/]. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest [https://www.alpha-sense.com/invest/] and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –  This episode is brought to you by Ridgeline [https://www.ridgelineapps.com/]. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com [https://www.ridgelineapps.com/] to learn more about the platform. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes [https://www.joincolossus.com/episodes].  Follow us on Twitter: @patrick_oshag [https://twitter.com/patrick_oshag] | @JoinColossus [https://twitter.com/JoinColossus] Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com [https://thepodcastconsultant.com/]). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:08:32) The Evolution of AlphaSense and AI Integration (00:10:24) Impact of Large Language Models (00:19:24) User Behavior and Trust in AI (00:26:24) Future of AI in Investment Research (00:28:41) The Value of Proprietary Data (00:31:24) M&A Insights and Lessons Learned (00:32:59) The Tegus Opportunity and Investor Insights (00:34:41) Building Trust and Cultural Compatibility in M&A (00:37:33) Selling to Investors vs. Corporations (00:40:46) Personal Motivation and Entrepreneurial Journey (00:47:24) Breaking into the Corporate Market (00:49:28) Future of AI and Foundational Models (00:52:04) The Kindest Thing Anyone Has Ever Done For Jack

My guest today is Jared Kushner [https://x.com/jaredkushner]. Jared has lived more lives than just about anyone I know his age. He ran Kushner companies for years, investing in real estate in and around New York City. He owned the New York Observer. He was a senior advisor to President Trump in his first term. He now runs Affinity Partners, which we discuss in detail, a private equity firm built to find and execute unique investments around the world that stem from Jared's unique set of experiences in business and government. This is one of our longest episodes ever because there was so much to discuss. We cover real estate, negotiation, geopolitics, his work in prison reform, Operation Warp Speed, and the Abraham Accords in the Middle East, business, investing, his family, and everything in between. Jared told me I could ask him about anything--and I really enjoyed doing so. Please enjoy my conversation with Jared Kushner. My guests today For the full show notes, transcript, and links to mentioned content, check out the episode page here. [https://joincolossus.com/episode/jared-kushner-bu%E2%80%A6sting-government/] ----- This episode is brought to you by Alphasense [https://www.alpha-sense.com/invest/]. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Imagine completing your research five to ten times faster with search that delivers the most relevant results, helping you make high-conviction decisions with confidence. AlphaSense provides access to over 300 million premium documents, including company filings, earnings reports, press releases, and more from public and private companies. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest [https://www.alpha-sense.com/invest/] and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. –- This episode is brought to you by Ridgeline [https://www.ridgelineapps.com/]. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. I think this platform will become the standard for investment managers, and if you run an investing firm, I highly recommend you find time to speak with them. Head to ridgelineapps.com [https://www.ridgelineapps.com/] to learn more about the platform. –- This episode is brought to you by Ramp [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest]. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest growing FinTech company in history and it’s backed by more of my favorite past guests (at least 16 of them!) than probably any other company I’m aware of. Go to Ramp.com/invest [https://ramp.com/250-signup-bonus?utm_source=podcast&utm_medium=paid-podcast&utm_campaign=podcast-colossus-250&utm_content=invest] to sign up for free and get a $250 welcome bonus. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com [https://thepodcastconsultant.com/]). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:08:45) Jared's Philosophy on Challenges and Success (00:13:38) Real Estate Ventures: The 666 Fifth Avenue Story (00:20:31) Lessons from New York Real Estate (00:30:04) Diplomacy and the Middle East (00:37:03) Leadership and Change (00:41:14) Geopolitical Landscape and Future Prospects (00:47:53) Affinity Partners: Vision and Strategy (00:52:42) Navigating Market Shifts (00:54:39) Case Study: Mexico Investment (00:58:34) Global Investment Strategies (01:02:42) Investment Philosophy and Principles (01:07:04) Challenges and Problem-Solving (01:23:14) Government Efficiency and Bureaucracy (01:34:57) Stepping into the Spotlight (01:37:19) Manifesting Success with Partners (01:38:05) Learning from Brad Jacobs (01:42:09) Middle East Economic Development (01:46:08) The Qatar-Saudi Reconciliation (01:52:25) Perceptions of Key Middle Eastern Countries (02:07:34) Preparing for Trump's Return (02:14:36) Early Days of Thrive Capital (02:16:56) Helping Entrepreneurs and Building Thrive (02:24:51) Lessons from My Father (02:37:47) Future Vision and AI (02:48:45) The Kindest Thing Anyone Has Ever Done For Jared