Boyd Varty - Becoming A Meaning Maker - [Invest Like the Best, EP.395]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 • 2.4K Ratings

🗓️ 29 October 2024

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

My guest today is Boyd Varty. Boyd is a lion tracker, life coach, and storyteller who grew up in the South African wilderness, living amongst and tracking wild leopards. This is his fourth time on Invest Like the Best but the first in six years. Boyd is a perfect follow-up to my episode with Lulu Meservey unpacking the intricacies of storytelling and why it's such an essential for founders. Boyd walks us through different mechanisms of cultivating storytelling and becoming a meaning-maker. He encourages everyone to become somebody who stories happen around and be a character who finds characters. We discuss his concept of “story hunting,” leveraging stories in business, and continuously finding new meaning in life. Please enjoy my discussion with Boyd Varty. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. 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. It’s also notable that many best-in-class businesses use Ramp—companies like Airbnb, Anduril, and Shopify, as well as investors like Sequoia Capital and Vista Equity. They use Ramp to manage their spending, automate tedious financial processes, and reinvest saved dollars and hours into growth. At Colossus and Positive Sum, we use Ramp for exactly the same reason. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. — This episode is brought to you by Alphasense. 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 and experience firsthand how AlphaSense and Tegas help you make smarter decisions faster. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:27) The Power of Storytelling (00:06:08) Lessons from Safari Stories (00:08:37) Finding Meaning and Purpose (00:09:18) Becoming a Story Hunter (00:13:27) The Role of Fear in Storytelling (00:15:31) Crafting and Sharing Your Narrative (00:17:04) Building a Strong Culture Through Stories (00:23:42) The Importance of Storytelling in Business (00:32:41) Meeting Chris Bacchus (00:34:14) Living Authentically: Following Your Internal Pulls (00:35:34) The Tension of Reinvention: Beyond Your Greatest Hits (00:36:46) The Art of Self Reinvention (00:39:49) Crafting a Great Story: Key Components (00:41:45) Solitude and Self-Knowledge: The Path to Originality (00:45:00) The Role of High Stakes in Finding Meaning (00:47:49) The Endurance Hunt: A Journey with the Kalahari Bushmen (00:52:56) Simplicity and Abundance: Lessons from the Bushmen (00:54:37) Becoming a Character: Traits of Remarkable People (00:59:35) Life's Work: Expressing Yourself in Service of Others

Transcript

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0:00.0	Two fun facts about our newest sponsorship partner, Ramp. First, they are the fastest growing
0:05.2	fintech company in history, reaching a level of revenue in five years that I can't quote exactly,
0:09.9	but is eyebrow raising. Second, they are backed by more of my favorite past guests, at least
0:14.9	16 of them when I counted, than probably any other company that I'm aware of, a list that includes
0:19.6	Ravi Gupta, Sequoia,
0:21.0	Josh Kushner, at Thrive, Keith Rabe, at Founders Fund, and Coastal Ventures, Patrick and John Collison,
0:25.5	Michael Ovitz, Brad Gersner, the list goes on and on. These facts demand the question,
0:29.8	why? Having been personally obsessed with the great businesses through history, one clear lesson
0:34.2	is that the best of them are run by disciplined operators. These operators manage
0:38.2	costs with incredible detail and they are constantly thinking about how they can reinvest every
0:42.6	dollar and every hour back into their business. This is RAMP's mission to help companies
0:46.7	manage their spend in a way that reduces expenses and frees up time for teams to work on more
0:51.4	valuable projects. First, on expenses, the average American business has a
0:55.5	profit margin of 7.7%. This means saving 1% on costs is the equivalent of making 13% more revenue.
1:02.8	The average ramp customer is able to save 5% on their expenses each year. Of course, every entrepreneur
1:08.2	is looking for ways to grow revenue by 50%. They should just as seriously seek to save 5% on their expenses.
1:14.2	Second, on time.
1:15.6	Unnecessary complexity is why most finance teams spend 80% of their time doing operational
1:20.4	work and only about 20% of their time on strategic work.
1:24.2	Ramp makes spend management very simple by handling your company's expenses, travel,
1:28.1	bill payments, vendor relationships, and even accounting. It's notable that some of the best in
1:32.8	class businesses today, companies like Airbnb, Anderl and Shopify, and investors like Sequoia Capital
	...

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