#373 Breakfast with Brad Jacobs + How To Make A Few Billion Dollars
Founders
Deep Dive
Why is working with smart and talented people so important, according to Brad Jacobs?
Brad Jacobs emphasizes that the most crucial role of a CEO is recruiting exceptional individuals. He believes there's no substitute for intelligence and prioritizes hiring the brightest minds.
How selective is Ramp's hiring process for engineers?
Ramp hires only 0.23% of engineering applicants, demonstrating their commitment to employing top-tier technical talent and AI engineers.
What is the significance of lifelong learning for successful entrepreneurs, and how does Brad Jacobs exemplify this?
Lifelong learning is a shared trait among successful entrepreneurs. Brad Jacobs demonstrates this by constantly seeking knowledge, as evidenced by his thorough review of the host's website containing book summaries.
How does Brad Jacobs approach researching an industry before starting a company?
Jacobs conducts extensive research, including reading various publications, analyzing websites and social media, attending conferences, interviewing experts, and seeking insights from CEOs, investment bankers, venture capitalists, and journalists.
Why are clear thinking and communication essential for business success, and how does Brad Jacobs embody these qualities?
Clarity in thought and communication is crucial for organizational success. Brad Jacobs is known for his ability to articulate his ideas concisely and effectively, making him easy to understand and work with.
What is Brad Jacobs's philosophy on hiring and compensation?
Jacobs prioritizes hiring the very best people and compensating them generously. He believes that an empty seat is less damaging than a poor fit and that overpaying for talent is nearly impossible.
What is the importance of identifying the "big trend" in business, and how has Brad Jacobs applied this principle?
Identifying the major trend is crucial for business success. Jacobs emphasizes understanding the trends that can either threaten or benefit a business. He cites his experience in the oil industry, recognizing the need for faster information sharing, and in waste management, where he capitalized on tech-based truck routing.
How does Brad Jacobs emphasize the importance of paying it forward and helping the next generation?
Jacobs values mentorship and supporting younger talent, reflecting the guidance he received from his own mentor, Mr. Justice. He actively helps young entrepreneurs, recognizing the importance of giving back.
Why does Brad Jacobs encourage embracing eccentricities, and how does he demonstrate this in his own life?
Jacobs believes in authenticity and encourages embracing individual quirks. He emphasizes the importance of being oneself, even in professional settings, and demonstrates this through open conversations and practices like meditation.
Why are relationships and reputation paramount in business, according to Brad Jacobs?
Jacobs stresses that relationships are fundamental to business success and that reputation is paramount. He highlights the long-term perspective, emphasizing the importance of nurturing relationships and safeguarding one's reputation.
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