Dan Sundheim - The Art of Public and Private Market Investing - [Invest Like the Best, EP.460]

Hello and welcome everyone. I'm Patrick O'Shaughnessy and this is Invest Like the Best. This show is an open ended exploration of markets, ideas, stories, and strategies that will help you better invest both your time and your money. If you enjoy these conversations and want to go deeper, check out Colossus, our quarterly publication with in-depth profiles of the people shaping business and investing. You can find Colossus along with all of our podcasts at Colossus.com. Patrick O'Shaughnessy is the CEO of Pastive Sum. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more,

Visit PSUM dot VC Um My guest today is Dan Sundheim. Dan is the founder and CIO of D1 Capital Partners. I've wanted to do this conversation for a long time. Dan is one of those investors who thinks about markets and business constantly and has built a career entirely around that obsession. What makes him unique is that he operates at full intensity across both public and private markets simultaneously. with major stakes and some of the most important private companies in the world like SpaceX, OpenAI, and Anthropic.

While running a global public equity portfolio that spans nearly every industry and doesn't concentrate in the consensus names. We start at the beginning of his career with a story I've never heard him talk about publicly before. How a shortcase he wrote on Orthodonic Centers of America and posted on Value Investors Club crash the stock and help him land his first job. He shared he backed Anthropic at a moment when many people told him it was the lift to open AI's Uber. What reading Dario Amade's essays reminded him of Bezos' letters to shareholders and how he thinks about LLM business models through the lens of Netflix and Spotify.

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