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Martín Escobari - Inside General Atlantic - [Invest Like the Best, EP.449]

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Martín Escobari - Inside General Atlantic - [Invest Like the Best, EP.449]

Invest Like the Best with Patrick O'Shaughnessy

5 DAYS AGO
Invest Like the Best with Patrick O'Shaughnessy

Invest Like the Best with Patrick O'Shaughnessy

5 DAYS AGO
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

My guest today is Martín Escobari. Martín is Co-President and Head of Global Growth Equity at General Atlantic. We talk about General Atlantic’s unique founding story and how its long-term structure, including permanent capital, a single P&L, and partners...

Highlights

In this episode, Martín Escobari, Co-President and Head of Global Growth Equity at General Atlantic, shares insights from a career shaped by global markets, technological shifts, and personal resilience. From his early days in Bolivia to leading one of the most influential growth equity firms, Martín offers a unique perspective on investing with purpose, patience, and long-term vision.
10:08
An $80 million investment in Brahma grew to over $60 billion
14:37
Submarino raised $80 million in three months and scaled to six countries in one year
15:20
General Atlantic is running 500 projects this year, a third of which are AI-related.
20:08
The purpose of wealth is to improve the human condition immediately.
23:06
Employees are large investors in the firm's products, aligning incentives through shared ownership
30:48
Diversification is the only 'free lunch' in finance
30:48
International markets offer more attractive earnings multiples than the U.S.
33:13
Chinese entrepreneurs' drive stems from overcoming Cultural Revolution hardships
35:28
Understanding someone's traumas allows deeper empathy and insight into their motivations
41:52
Heart in leadership can override gut and brain and is crucial for leading large organizations
43:55
In matters of the heart, one should forget the checklist.
45:15
Bill Ford called ten years after declining a startup pitch to try again.
46:23
Dave Hodgson stays sharp past 60 by refusing to think like an old man and always learning.
48:53
Profitable companies are fueling the AI capex wave, making it more sustainable than past bubbles.
54:55
GA specializes in 16 'Power Alleys' like AI applications, backed by 32 case studies to drive sector-specific expertise.
57:00
Non-US markets offer more 'low-hanging fruit' for young investors
59:45
Investment committees are open to all, enabling learning from proven investors.
1:04:14
The CEO must be a spear fisherman to capture lucky investment outcomes.
1:04:57
Growth equity valuations are at a 30-40% discount to public comps, similar to post-GFC levels.
1:08:36
Silence is a powerful way to start a conversation.

Chapters

Welcome to Invest Like the Best
00:00
The Bold Move That Landed a Job
05:00
The Art of Spearfishing in Business
07:16
Navigating the Dotcom Bubble
11:55
Investing Through the AI “Bubble”
15:18
General Atlantic Founding Story
20:06
General Atlantic's Unique Investing Strategy
23:04
Lessons on Fundraising
28:20
Global Diversification and Market Insights
30:48
Understanding Chinese Entrepreneurs
33:12
Personal and Generational Traumas
35:27
Characteristics of a GA Investment and Martín’s “Educated Intuition"
39:10
Proud Investment Achievements
43:55
Lessons from CEO Bill Ford
44:41
Changes in Investing with Experience
46:15
Current Market and Future Predictions
48:52
Growth Equity’s Competitive Landscape
54:55
How to Invest Outside the US
56:59
How to Develop Investing Talent
59:44
Inside the Investment Committee Process
1:01:50
Why Growth Equity is Attractive Today
1:04:56
Martín’s Unfinished Business and Mentoring
1:05:58
The Kindest Thing
1:09:33

Transcript

Patrick O'Shaughnessy: The best operators have a relentless focus on leverage, finding ways to multiply their impact rather than just working harder. But here's what I see happening in finance teams everywhere. Brilliant people getting buried in expense ma...