In this episode, Ernie Garcia III, co-founder and CEO of Carvana, shares insights into the company's impressive recovery after a staggering 99% drop in stock price. He credits their survival to a dedicated team, a commitment to prioritizing essential tasks, and a strong belief in their long-term vision. Garcia highlights the necessity of saying "no" to less important projects, promoting accountability through detailed weekly check-ins, and staying calm under pressure. The discussion also explores Carvana's vertical integration strategy, the challenges posed by economic fluctuations, and the value of learning from both the successes and failures of investors.
