This podcast episode explores different topics including Instacart's plan to go public, the challenges and opportunities of investing in real estate during a stagnant tech IPO market, the importance of succession planning for small businesses, and the unique approach of TeamShares in promoting employee ownership. TeamShares aims to empower small businesses through a range of financial products and support, with the goal of creating a network of employee-owned businesses. They focus on acquiring small businesses and providing them with the infrastructure and resources to transition to employee ownership. The chapter also discusses TeamShares' growth and networking strategies, their criteria for acquiring companies, and their commitment to building a solid and enduring company with a long-term mindset.
Takeaways
• Instacart's IPO plan raises questions about its ability to jumpstart the tech IPO market, with concerns about its tax benefit and flat sales.
• Investing in real estate during a stagnant tech IPO market presents challenges and potential opportunities, with a notable land deal attracting investments from tech figures.
• Succession planning is crucial for small businesses, and TeamShares offers a unique solution by helping small businesses become employee-owned through financial technology and support.
• TeamShares' mission is to promote employee ownership and empower small businesses, offering a range of financial products and services to facilitate the transition.
• TeamShares aims to build a network of employee-owned businesses, currently having over 80 companies in various industries, with plans to expand and provide financial infrastructure according to GAAP.
• Their approach includes acquiring and supporting small businesses, evaluating candidates based on retirement sales, multiple managers, low customer concentration, and visible earnings.
• Funding rounds have allowed TeamShares to acquire companies and support growth, with a focus on building a solid company first before going public.
• The TeamShares network collaborates and shares knowledge through training cohorts, industry groups, and peer-based learning to create a strong ecosystem of successful businesses.
• The company's founders are inspired by Berkshire Hathaway and KKR but have their own unique twist with a central focus on employee ownership.
• TeamShares aims to have a larger impact on wealth inequality by making employee ownership a key part of their model, with plans to go public in the future while valuing independence.
