Elevate Ep 71 Pt. 2: Mac Schilling, CEO & President of TwoPointO Capital, LLC

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Language: en
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Welcome to the Elevate podcast, where
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every leader has a story. We bring you
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conversations with influential leaders
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who are shaping our local communities.
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Hear about their path to leadership and
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experiences that define them and how
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they're driving meaningful impact today.
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Hey everybody, Jason here with another
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episode of the Elevate Powered by Brain
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podcast. You know, we started this
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podcast back in January having
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conversations with forprofits, nonprofit
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organizations, K through 12, higher ed.
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We just talked to a number of leaders
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from around the state, now into
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Illinois, also into Ohio and into into
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Kentucky. Conversations have been
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terrific. This one actually is is
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interesting because we we had an
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opportunity to talk to another
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individual that has a little bit of
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foreshadowing to this particular
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person's uh journey. And so we talked to
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Valo a little bit earlier and then
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Justin had a conversation about kind of
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the genesis and how some things started
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with the organization that Mac is with.
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But it'll be great to learn more about
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your story, Mac, and and more about 2.0.
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But Mac, welcome to the show.
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>> Thanks for having me, Jason.
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>> All right, let's give everybody the
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organization name and your title.
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>> Yep. So 2.0 Capital LLC. My name is Max
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Schilling and I serve as the CEO and
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president.
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>> That's awesome. All right, that's where
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you are today, but not where you
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started.
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>> No. So, let's go back to the beginning.
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Where you from originally?
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>> I'm an adopted Hooser. So, I grew up in
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Traverse City, Michigan.
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>> TC Traverse City 100%. Awesome. So,
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yeah, Grand Traverse Bay is beautiful up
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there with the the little, you know, the
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Was that there? Okay. So, that was
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through high school.
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>> Yeah, through high school.
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>> All right. Incredibly proud to have
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grown up there.
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>> It's a beautiful place.
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>> Unbelievable.
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>> Yeah. If people haven't gone, they
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should go.
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>> Absolutely. I try not to Yeah. I can you
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might just your age a little bit don't
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want it to get too overcrowded but yeah
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I mean we just we grew up outside all
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the time.
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>> Yeah. Yeah.
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>> Up in TC and everything you can do
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outside whether you outside during the
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summer, winter, all those different
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types of things. So high school in
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Traber City.
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>> Yeah.
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>> What's a what's a young Mac doing and
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what are you thinking is going to come
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next when you get out of high school?
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>> Yeah. So I went to Traverse City St.
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Francis. It's a small Catholic school up
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there in Traverse City.
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>> Okay.
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um without coming across like Bruce
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Springsteen singing glory days. We had a
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great football program at the school.
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All right. Um small, you know, D7 uh
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Catholic school football team, but
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incredible uh history and winning record
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and coaches in the, you know, Michigan
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high school football hall of fame and
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all right. So we every kid who went to
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St. Francis was literally just gearing
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up to try to play for Larry Sers at no.
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This is the thing. Coming in from middle
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school into high school. Oh, yeah.
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>> You're going to play football.
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>> What position should you play?
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>> Safety and running back.
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>> No kidding.
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>> Yeah. All right.
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>> I wasn't fast enough for any D1 offers.
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>> All right. So, when you finish up
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playing football and finish up high
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school, where are you going to go next?
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Where's the journey take you?
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>> We grew up um with Katie Strip Pants up
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in Northern Michigan. My parents are
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from Indiana originally.
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>> Oh, so my No kidding.
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>> Yeah. My mom went to Pike High School uh
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back when it was a cornfield and my dad
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was a Bloomington South guy.
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>> Okay.
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>> Um and his job took us up to Traverse
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City up northern Michigan.
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>> Yeah. Yeah.
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>> But my older sister, younger brother and
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myself, we grew up with candy stripe
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pants. We love you. Everything about
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Indiana and my grandparents still lived
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in Indiana. So we'd come down every
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shimmer and visit their farm over in
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Pittsburgh on the east side of town. Um
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and I just wanted something different. A
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lot of friends were going to MSU, a lot
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of friends were going to U of M. I'm
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like, you know what? I'm gonna try
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something different. I'm gonna buck the
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trend. Buck the trend. I didn't go down
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to Bloomington. Didn't know a soul.
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>> No. No kidding. Didn't know anyone
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school. No one go my school. I'm in
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cold. No one from my school. Okay. All
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right. So, I go from a graduating class
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of 95 students to an incoming class of
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>> thousands.
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>> Yeah. No. No. Nobody. In 95, you know
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everybody. Yes. Right. Okay. All right.
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So, you decide to go to IU. You show up
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in Bloomington. What are you studying?
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ology.
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>> All right. Yeah. So, that's all right.
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So, here's the thing. When you and I
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chatted earlier, I didn't know that.
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Yeah.
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>> That's really kind of funny. So, what
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were you thinking you were going to do
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going to school? What were you going to
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come out and do
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>> orientation? I'm sure they've changed it
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now, but orientation was very much felt
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like a cattle garden. You know, you're
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coming in and they're like major. You're
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like, I like science, biology, and then
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they're like, all right, next. Pick a
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major. Um, I loved biology. I didn't
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know what I wanted to do with it. Yeah.
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Um, but I was very fortunate to
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sophomore year IU they have a great
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program called LAMP liberal arts
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management program which is essentially
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a business minor for large arts
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students. I see. And so I immediately
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was drawn to that. And you're taking
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Kelly courses. Yeah. At the Kelly School
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of Business. You just happen to be
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biology or chemistry maybe.
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>> Sure.
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>> Um, and I was immediately drawn to it.
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So sophomore year is really where it got
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kind of the direction like all right,
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I'm going to stick with biology, but I
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really like this business. I like the
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business stuff. You don't know where
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it's going to go. I have no idea where
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it's going to go, but but I I like it.
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Who I took a handful of these business
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law courses.
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>> Okay. I'm like, okay, maybe patent law.
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Maybe that sounds interesting. Realize
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that I want to do that. But I took a
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year off, just paid off some undergrad
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loans and, you know, took the LSAT and
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applied to law school, went to Indiana.
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My now wife, she's a proud Marian County
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North Central grad.
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>> So, she's like, I'm heading back to
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Indie. So, you know, you can go to IU
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law school or
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>> this is kind of run its course.
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>> Yeah.
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>> I'm like, all right, well, I'm following
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you. You're the ends of the earth, but
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thank you for just going to
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Indianapolis.
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>> Yeah.
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>> Um, and so applied to IU law school and
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went there and they had a jo JD joint
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degree program, JDMBA.
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>> Okay.
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>> So, kind of did the dual thing again,
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which is law school during the day,
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>> NBA courses at night. Yeah.
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>> Um, up at the IU Indie Law School.
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>> So, no kidding.
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>> Yeah.
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>> All right. So, you finish up at IU Indie
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and you meet the girl. Do you guys get
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married while you're in school?
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>> Uh, I waited till afterwards. I felt
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horrible that I couldn't support her
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while I was in law school. Instead, I
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was maxing out student loans. All right.
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Okay. All right. So, so but you do you
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do get the girl in the end. So, that's
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awesome. All right. So, you finish up
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and where does the journey go? But
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what's the first role coming out of
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school?
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>> Big law firm. No kidding. Big ra firm.
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Um, it was being green bond doll. now
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Denton's and so I was had a summer
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internship there during law school
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summer associate for two years and then
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took a full-time job in their
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transaction department. Yeah. So they do
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mergers acquisitions and real estate
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transactions. So you could kind of lump
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attorneys into two buckets, litigators
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or transactional attorneys. And I knew I
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wanted to be on this side of it.
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>> Yeah.
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>> Um and my experience there I was there
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for about four and a half years was
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incredible. Loved everything about it.
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You know, ultimately it wasn't for me in
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the long run, but the training I got
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>> Mhm.
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>> at a big law firm, I'm convinced is
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second to none.
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>> Oh, I can only imagine. They have all
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the resources and opportunity.
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>> You're a pressure cooker. You have like
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I mean it this is hardcore. You get
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thrown into the wolves, right? I heard
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that before.
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>> Deep end. And I was very fortunate to
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have some great mentors there that kind
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of took me under their wing. But you're
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working on cool projects for great
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clients.
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>> Yeah.
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>> Um it's it's a phenomenal training
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experience.
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>> Yeah. No kidding. All right. So, four
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and a half years there, big law firm.
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>> Yep.
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>> Where do you go next?
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>> Realized building sixinut in increments
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was not what I wanted to do for the rest
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of my life. Um, so I, you know, was very
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fortunate to kind of have an off-ramp
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August Mack environmental serve as their
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GC. I worked for Jeff Glanders over
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there. And again, same thing. It's
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amazing how just many stops you make in
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your life and what you learn and the
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people you meet
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>> at each stop. And so serving on the
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general counsel side, you know, really
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ingrained into the business instead of
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private practice a lot. That was the
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next stop and did that for another five
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years.
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>> Okay.
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>> For August Mac. Gotcha. All right. So
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now, now you're 10 years in. How does
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the journey get you to Valo?
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>> Uh Justin Padet.
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>> Oh, no kidding.
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>> Justin Padet. Uh you know, he's former
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adviser now president of Fileo.
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>> Yeah.
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>> But he was a Fiji down at IU. I was a
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Fiji as well. We weren't in the Fuji
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house at the same time, but we were both
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in Penrod Art Society.
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>> Okay.
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>> So, we ran around in similar circles,
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but didn't really know each other.
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>> So, you crossed paths.
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>> We crossed paths. I actually reached out
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to him. Just again, this is why I tell
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young college kids like, don't be afraid
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to make the request,
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>> of course.
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>> So, I just reached out to Justin. He
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struck me as a guy who has stuff in a
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pile and he's a good thinker and a lot
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of people said great things about him.
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So, yeah.
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>> Cold email. Justin,
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>> love to grab breakfast sometime. I'll
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pay for it. Love to meet you.
00:08:44.880 --> 00:08:46.550
>> Took me up on it. And he said, "Yes." He
00:08:46.560 --> 00:08:47.990
said, "Yes." Yeah. See, there I I don't
00:08:48.000 --> 00:08:49.350
want people to miss that. We talk about
00:08:49.360 --> 00:08:50.870
this a lot on this show. And I don't
00:08:50.880 --> 00:08:52.790
know if it's an Indiana thing, but it is
00:08:52.800 --> 00:08:55.430
truly true here. Especially if you're
00:08:55.440 --> 00:08:56.310
younger. Yeah.
00:08:56.320 --> 00:08:57.670
>> If you look out, you see some
00:08:57.680 --> 00:08:59.030
organization, you like what they're
00:08:59.040 --> 00:09:00.790
doing or like you said, stuff in a
00:09:00.800 --> 00:09:03.030
group, all that kind of stuff. If you
00:09:03.040 --> 00:09:05.190
reach out and ask in general, most
00:09:05.200 --> 00:09:06.150
people say yes.
00:09:06.160 --> 00:09:06.949
>> Completely agree.
00:09:06.959 --> 00:09:09.030
>> And and they actually want you to. It
00:09:09.040 --> 00:09:11.030
was Justin actually shared a story about
00:09:11.040 --> 00:09:13.910
reading a book from Jean B. Glick and
00:09:13.920 --> 00:09:15.430
one of the things he shared, it wasn't
00:09:15.440 --> 00:09:16.949
actually on the show, but he reads the
00:09:16.959 --> 00:09:18.710
book and and Jean says he really likes
00:09:18.720 --> 00:09:20.150
working with young individuals and
00:09:20.160 --> 00:09:22.630
helping people. So, I know it wasn't
00:09:22.640 --> 00:09:24.070
Justin, it was somebody else read this,
00:09:24.080 --> 00:09:25.670
whoever this book was. And so, it's
00:09:25.680 --> 00:09:28.150
Genevie Gene Bclick and the individual
00:09:28.160 --> 00:09:30.150
says, "Hey, you know what? I'm going to
00:09:30.160 --> 00:09:32.389
reach out and ask them to follow up with
00:09:32.399 --> 00:09:34.710
me." And they did, right? And that
00:09:34.720 --> 00:09:35.910
that's because they actually basically
00:09:35.920 --> 00:09:37.430
told you in the book that they wrote, I
00:09:37.440 --> 00:09:39.269
like working with young kids and the
00:09:39.279 --> 00:09:40.790
young kid reads it and does this kind of
00:09:40.800 --> 00:09:41.030
Yeah.
00:09:41.040 --> 00:09:42.790
>> And so it's just amazing when you do
00:09:42.800 --> 00:09:44.389
that here in Indiana.
00:09:44.399 --> 00:09:45.829
>> All right. So I think when you reach out
00:09:45.839 --> 00:09:49.030
to it's don't go in I tell college kids
00:09:49.040 --> 00:09:51.590
don't go into it with a self optimizing
00:09:51.600 --> 00:09:53.829
self-s serving networking. The term
00:09:53.839 --> 00:09:55.990
networking can kind of have that bad
00:09:56.000 --> 00:09:57.350
connotation. If you're going into it
00:09:57.360 --> 00:09:58.630
thinking I need to get something out of
00:09:58.640 --> 00:10:00.550
it, right? Just go into it being curious
00:10:00.560 --> 00:10:02.710
about the other folk people. Yeah. Yeah,
00:10:02.720 --> 00:10:04.470
the word curious is just he there. Just
00:10:04.480 --> 00:10:05.990
be curious. Just be curious. Ask a lot
00:10:06.000 --> 00:10:07.350
of questions. By and large, people like
00:10:07.360 --> 00:10:08.150
to talk about themselves.
00:10:08.160 --> 00:10:09.509
>> They do.
00:10:09.519 --> 00:10:11.030
>> Yeah. It's amazing when you think about
00:10:11.040 --> 00:10:14.069
it. What What got you to where you are?
00:10:14.079 --> 00:10:15.269
What career advice would you give
00:10:15.279 --> 00:10:16.870
someone like me? Right. If you were to
00:10:16.880 --> 00:10:18.230
do it over again, would you change
00:10:18.240 --> 00:10:19.750
anything? Yep. And then leave that
00:10:19.760 --> 00:10:20.949
conversation with
00:10:20.959 --> 00:10:22.230
>> you have two or three people that you
00:10:22.240 --> 00:10:24.389
think I should also meet. Yep. And then
00:10:24.399 --> 00:10:26.949
just spiderwebs out. That's the way real
00:10:26.959 --> 00:10:28.630
networking happens, right? When you go
00:10:28.640 --> 00:10:30.710
in with a genuine curiosity, learning
00:10:30.720 --> 00:10:32.150
about other people, learning their
00:10:32.160 --> 00:10:34.550
story, and understanding how that the
00:10:34.560 --> 00:10:36.230
two of you could maybe do something at
00:10:36.240 --> 00:10:37.829
some point together, that's for sure
00:10:37.839 --> 00:10:39.750
that could be beneficial for both of us,
00:10:39.760 --> 00:10:40.949
not trying to come out with something
00:10:40.959 --> 00:10:42.630
self-centered. Yeah, great advice.
00:10:42.640 --> 00:10:45.030
>> So, I had that breakfast with Justin
00:10:45.040 --> 00:10:47.190
>> and we enjoyed it and it ended up just
00:10:47.200 --> 00:10:49.350
kind of being a quarterly breakfast to
00:10:49.360 --> 00:10:51.509
pick each other's brains and see what
00:10:51.519 --> 00:10:53.910
you were working on. I had no
00:10:53.920 --> 00:10:56.470
expectation of working for wealth
00:10:56.480 --> 00:10:58.230
management registered investment
00:10:58.240 --> 00:10:58.949
advisor.
00:10:58.959 --> 00:10:59.269
>> Yep.
00:10:59.279 --> 00:10:59.990
>> None.
00:11:00.000 --> 00:11:01.829
>> I was very happy at August back.
00:11:01.839 --> 00:11:02.550
>> Yep.
00:11:02.560 --> 00:11:04.630
>> Um and but Justin kind of created this
00:11:04.640 --> 00:11:07.190
real estate platform within fileo
00:11:07.200 --> 00:11:09.430
>> and they ran it like he'll be the first
00:11:09.440 --> 00:11:11.509
they ran it like volunteer firefighters
00:11:11.519 --> 00:11:13.829
which they could do when it was smaller.
00:11:13.839 --> 00:11:15.350
Well, as they started to do more
00:11:15.360 --> 00:11:16.870
investments and the portfolio started to
00:11:16.880 --> 00:11:19.030
grow for the benefit of their clients at
00:11:19.040 --> 00:11:20.630
Valo. Yeah. They started to look around
00:11:20.640 --> 00:11:21.750
like, "Okay, now the volunteer
00:11:21.760 --> 00:11:23.430
firefighters are all a sudden working in
00:11:23.440 --> 00:11:24.150
the big city."
00:11:24.160 --> 00:11:24.710
>> That's right. Yeah.
00:11:24.720 --> 00:11:26.949
>> And so we need a dedicated team. So
00:11:26.959 --> 00:11:28.630
Justin reached out. He's like, "Hey,
00:11:28.640 --> 00:11:31.670
want to bend your ear over a bourbon and
00:11:31.680 --> 00:11:33.110
said, "Do you want to kind of take this
00:11:33.120 --> 00:11:35.670
and run?" No, no kidding. Like I do.
00:11:35.680 --> 00:11:37.190
Yeah, that sounds fun. It does sound
00:11:37.200 --> 00:11:38.710
fun. All right. So, so originally when
00:11:38.720 --> 00:11:40.470
you first get started, are you coming
00:11:40.480 --> 00:11:43.269
into Valleo and are you beginning just
00:11:43.279 --> 00:11:45.829
to run this? Cuz I know eventually you
00:11:45.839 --> 00:11:47.750
guys end up kind of taking it and
00:11:47.760 --> 00:11:48.630
spinning it off.
00:11:48.640 --> 00:11:50.230
>> That's right. Yeah. So, what what's the
00:11:50.240 --> 00:11:51.750
story? What are you coming in to do and
00:11:51.760 --> 00:11:53.190
kind of what's that journey look like?
00:11:53.200 --> 00:11:55.030
>> Yeah. So, we I came in I was hired
00:11:55.040 --> 00:11:57.030
January 2020. Perfect tiring.
00:11:57.040 --> 00:11:58.550
>> Perfect time. Y
00:11:58.560 --> 00:12:00.389
>> three three months ahead of major
00:12:00.399 --> 00:12:00.949
change.
00:12:00.959 --> 00:12:02.550
>> Yeah. We ended up having to build a team
00:12:02.560 --> 00:12:04.470
virtually and you know what's this
00:12:04.480 --> 00:12:06.150
global pandemic going to do with our
00:12:06.160 --> 00:12:08.790
existing investments and oh by the way
00:12:08.800 --> 00:12:10.310
there's actually great opportunities
00:12:10.320 --> 00:12:12.230
during this global pandemic so we want
00:12:12.240 --> 00:12:14.069
to continue to make investments there
00:12:14.079 --> 00:12:16.230
was a lot I mean I was thrown into the
00:12:16.240 --> 00:12:17.590
absolute deep end of the middle
00:12:17.600 --> 00:12:18.150
>> kidding
00:12:18.160 --> 00:12:20.629
>> but you know one of the concerns I had
00:12:20.639 --> 00:12:22.629
going in was okay this is a huge
00:12:22.639 --> 00:12:25.030
differentiator for Justin kind of
00:12:25.040 --> 00:12:26.389
started it so
00:12:26.399 --> 00:12:28.069
>> is he really going to give me the keys
00:12:28.079 --> 00:12:30.389
to run with this or is he going to be
00:12:30.399 --> 00:12:32.069
over on my shoulder the whole time.
00:12:32.079 --> 00:12:36.230
Yeah. Like and much to my pleasure, but
00:12:36.240 --> 00:12:38.870
also slight fear. He's like, "Here are
00:12:38.880 --> 00:12:41.590
the keys." No kidding. Go. No. No. No.
00:12:41.600 --> 00:12:42.310
Backseat driver.
00:12:42.320 --> 00:12:44.389
>> I mean, he we would meet regularly just
00:12:44.399 --> 00:12:46.230
to sure give him updates and stuff, but
00:12:46.240 --> 00:12:48.629
I mean, he was like, "Don't run it off
00:12:48.639 --> 00:12:50.230
cliff, but right here, here you go."
00:12:50.240 --> 00:12:50.790
>> No kidding.
00:12:50.800 --> 00:12:52.470
>> Yeah. Which was it's a testament to
00:12:52.480 --> 00:12:54.550
Justin and the leaders at Valo. Yeah. To
00:12:54.560 --> 00:12:55.350
trust people.
00:12:55.360 --> 00:12:55.910
>> No kid.
00:12:55.920 --> 00:12:58.629
>> Run. Yeah. It's fantastic. So my first
00:12:58.639 --> 00:13:00.629
few months was just assessing what do we
00:13:00.639 --> 00:13:01.030
have?
00:13:01.040 --> 00:13:01.750
>> Sure. Yeah.
00:13:01.760 --> 00:13:05.190
>> Um putting in SOPs. I'm a big systems
00:13:05.200 --> 00:13:07.430
big operating procedure. I have to like
00:13:07.440 --> 00:13:10.069
those things. It's the surviving deep
00:13:10.079 --> 00:13:11.590
down inside me.
00:13:11.600 --> 00:13:14.069
>> Um and so assessing that and then
00:13:14.079 --> 00:13:16.230
identifying talent. Um we had two
00:13:16.240 --> 00:13:18.389
individuals who were kind of straddling
00:13:18.399 --> 00:13:20.629
both sides of Valo and the real estate
00:13:20.639 --> 00:13:23.190
platform. Josh Decker and Kevin Ly who
00:13:23.200 --> 00:13:25.030
are just absolutely phenomenal. I can't
00:13:25.040 --> 00:13:27.190
sing their praises enough. And I told
00:13:27.200 --> 00:13:28.949
Justin, I was like, I need those two
00:13:28.959 --> 00:13:31.190
fully on the on the real estate side.
00:13:31.200 --> 00:13:31.590
>> Yeah.
00:13:31.600 --> 00:13:33.430
>> Um, and then we we we needed to
00:13:33.440 --> 00:13:35.670
formalize it. So, okay, now this is not
00:13:35.680 --> 00:13:38.550
unofficial subsidiary or platform. Let's
00:13:38.560 --> 00:13:40.949
create it as a subsidiary of layout that
00:13:40.959 --> 00:13:42.629
serves volume clients.
00:13:42.639 --> 00:13:45.269
>> So, we officially created 2.0 at that
00:13:45.279 --> 00:13:46.069
point.
00:13:46.079 --> 00:13:49.110
>> Um, but we've had a good long run, 16
00:13:49.120 --> 00:13:49.590
years.
00:13:49.600 --> 00:13:50.150
>> Yeah.
00:13:50.160 --> 00:13:52.150
>> Which leads up to the spin out in in
00:13:52.160 --> 00:13:55.430
January of 2026. So January in 2026, you
00:13:55.440 --> 00:13:57.430
spin out carve off the organization. You
00:13:57.440 --> 00:13:59.910
become the president and CEO. Tell me
00:13:59.920 --> 00:14:01.590
more about what you guys are doing over
00:14:01.600 --> 00:14:03.829
there and kind of what 2.0 looks like.
00:14:03.839 --> 00:14:05.030
>> Yeah.
00:14:05.040 --> 00:14:07.509
>> Well, I mean, originally we've had the
00:14:07.519 --> 00:14:10.470
luxury of and the benefit of incubating
00:14:10.480 --> 00:14:12.949
within an RA, a registered investment
00:14:12.959 --> 00:14:15.430
advisor, wealth management firm
00:14:15.440 --> 00:14:18.310
essentially. Um, and we did that solely
00:14:18.320 --> 00:14:21.269
for Valo clients for 16 years.
00:14:21.279 --> 00:14:23.430
>> Yep. And um it's a huge differentiator
00:14:23.440 --> 00:14:26.069
for BLO. Um and you know that that that
00:14:26.079 --> 00:14:28.949
industry
00:14:28.959 --> 00:14:31.829
I'm going to say this um
00:14:31.839 --> 00:14:33.670
can be a commodity.
00:14:33.680 --> 00:14:34.949
>> It totally can
00:14:34.959 --> 00:14:36.550
>> unless you differentiate yourself
00:14:36.560 --> 00:14:38.949
somehow, right? Comprehensive service a
00:14:38.959 --> 00:14:40.949
toz soup the nuts. Are you just working
00:14:40.959 --> 00:14:42.230
on the public investments for your
00:14:42.240 --> 00:14:44.150
clients? Are you actually advising them
00:14:44.160 --> 00:14:46.069
on a host of other things? A holistic
00:14:46.079 --> 00:14:47.910
approach. How's your state planning
00:14:47.920 --> 00:14:49.829
working in with your public investments?
00:14:49.839 --> 00:14:51.269
charitable giving strategy, tax
00:14:51.279 --> 00:14:53.430
strategy, all that and then alternative
00:14:53.440 --> 00:14:56.310
investments has become a huge bucket
00:14:56.320 --> 00:14:58.230
>> um for the allocation for the clients in
00:14:58.240 --> 00:15:00.230
their portfolio buildout. So, Valo
00:15:00.240 --> 00:15:01.670
client plan their flag in real estate
00:15:01.680 --> 00:15:03.430
like this this is a great way to provide
00:15:03.440 --> 00:15:05.110
our clients with unique alternative
00:15:05.120 --> 00:15:07.670
investment opportunities. Um and so we
00:15:07.680 --> 00:15:10.230
did that we serve Valo clients solely as
00:15:10.240 --> 00:15:13.990
2.0 about I would say you know right
00:15:14.000 --> 00:15:16.550
around 2024 we started to get outside
00:15:16.560 --> 00:15:17.509
interest
00:15:17.519 --> 00:15:19.670
>> 2.0 O did of just other groups, other
00:15:19.680 --> 00:15:21.189
firms being like, "Hey, we know you guys
00:15:21.199 --> 00:15:24.550
do this just for historically, but man,
00:15:24.560 --> 00:15:26.150
we we like the idea. We want to stick
00:15:26.160 --> 00:15:27.990
our necks out and provide clients with
00:15:28.000 --> 00:15:30.550
similar investment opportunities, but we
00:15:30.560 --> 00:15:32.069
don't know how to underwrite operators.
00:15:32.079 --> 00:15:34.470
We we're not comfortable really sticking
00:15:34.480 --> 00:15:36.310
our necks out there, right? Recommending
00:15:36.320 --> 00:15:38.629
investments. We need a group that can
00:15:38.639 --> 00:15:40.550
kind of help us get into this into the
00:15:40.560 --> 00:15:41.750
space.
00:15:41.760 --> 00:15:43.269
>> Is there any way we could tag along?"
00:15:43.279 --> 00:15:43.750
Mhm.
00:15:43.760 --> 00:15:45.829
>> So, we put together a business plan and
00:15:45.839 --> 00:15:47.990
present it to Valo and you know how
00:15:48.000 --> 00:15:49.590
great another testament to how great of
00:15:49.600 --> 00:15:51.030
a partner they are. They're like, "Yeah,
00:15:51.040 --> 00:15:51.910
that sounds great."
00:15:51.920 --> 00:15:52.949
>> Yeah, that's awesome.
00:15:52.959 --> 00:15:54.949
>> Now, you know, here's some boundaries we
00:15:54.959 --> 00:15:55.910
need to play with.
00:15:55.920 --> 00:15:56.550
>> Sure.
00:15:56.560 --> 00:15:57.829
>> Yeah. Go have at it.
00:15:57.839 --> 00:15:59.269
>> Yeah. You know, when when the market ask
00:15:59.279 --> 00:16:00.790
you to do things because they see you
00:16:00.800 --> 00:16:02.949
doing well, it's also it's telling you
00:16:02.959 --> 00:16:05.110
that you've got a good model here and an
00:16:05.120 --> 00:16:07.030
opportunity to do more. I'm curious like
00:16:07.040 --> 00:16:08.870
from a vetting perspective, how are you
00:16:08.880 --> 00:16:11.590
guys going through vetting different um
00:16:11.600 --> 00:16:13.430
you know real estate deals and different
00:16:13.440 --> 00:16:14.710
things? How does that look like for you
00:16:14.720 --> 00:16:14.949
guys?
00:16:14.959 --> 00:16:18.470
>> So we 2.0 we're not operators, right? We
00:16:18.480 --> 00:16:20.389
we put the deals together. We structure
00:16:20.399 --> 00:16:23.430
them. We we we partner and I want to
00:16:23.440 --> 00:16:26.470
emphasize that partner with operators,
00:16:26.480 --> 00:16:28.710
developers, acquisition groups, real
00:16:28.720 --> 00:16:31.030
estate groups. So we we partner with
00:16:31.040 --> 00:16:33.030
them to get first look access to their
00:16:33.040 --> 00:16:34.629
investment opportunities. So we're we're
00:16:34.639 --> 00:16:36.150
not slinging hammers or anything like
00:16:36.160 --> 00:16:36.310
that.
00:16:36.320 --> 00:16:37.829
>> Right. Of course. And so we need to
00:16:37.839 --> 00:16:39.590
partner with groups that actually do the
00:16:39.600 --> 00:16:41.670
the real estate investments ground up
00:16:41.680 --> 00:16:44.150
development or acquisitions um and
00:16:44.160 --> 00:16:47.430
execute the business plan there. Um so
00:16:47.440 --> 00:16:49.670
you know while we are investing in real
00:16:49.680 --> 00:16:52.389
estate I mean whether it's real estate
00:16:52.399 --> 00:16:55.430
software startup whatever the case may
00:16:55.440 --> 00:16:57.590
be you're ultimately investing in
00:16:57.600 --> 00:16:58.150
people.
00:16:58.160 --> 00:16:58.710
>> That's right.
00:16:58.720 --> 00:16:59.509
>> At the end of the day.
00:16:59.519 --> 00:17:03.350
>> That's right. Um, and you know, from the
00:17:03.360 --> 00:17:06.390
get-go, we were like, even if it's what
00:17:06.400 --> 00:17:07.909
appears in the underwriting to be a
00:17:07.919 --> 00:17:09.829
grand slam, walk-off grand slam
00:17:09.839 --> 00:17:12.230
investment opportunity, if it's with
00:17:12.240 --> 00:17:14.390
someone that we're not comfortable with,
00:17:14.400 --> 00:17:16.789
character issues or something else, like
00:17:16.799 --> 00:17:17.990
it's not worth the trouble.
00:17:18.000 --> 00:17:18.309
>> Yeah.
00:17:18.319 --> 00:17:19.909
>> And we'll lose one night of sleep of
00:17:19.919 --> 00:17:21.510
missing out on a great investment
00:17:21.520 --> 00:17:22.789
opportunity. But,
00:17:22.799 --> 00:17:24.470
>> you know, firm believer in you can't do
00:17:24.480 --> 00:17:27.029
good business with bad people. So, we
00:17:27.039 --> 00:17:28.789
don't underwrite the investments first.
00:17:28.799 --> 00:17:30.950
We underwite the people first.
00:17:30.960 --> 00:17:32.710
>> And so we call them the sponsors, the
00:17:32.720 --> 00:17:34.870
operators. And we're fortunate to have
00:17:34.880 --> 00:17:37.350
11 on our platform that we've, you know,
00:17:37.360 --> 00:17:38.789
vetted and we
00:17:38.799 --> 00:17:40.710
>> they give us first look investment
00:17:40.720 --> 00:17:43.350
opportunities. Um but we'll look at the
00:17:43.360 --> 00:17:46.950
underwriting, the um execution history,
00:17:46.960 --> 00:17:48.070
their performance.
00:17:48.080 --> 00:17:48.630
>> Yeah.
00:17:48.640 --> 00:17:50.470
>> Secession plan, business continuity
00:17:50.480 --> 00:17:53.110
plan, cyber security policy. I mean, we
00:17:53.120 --> 00:17:55.270
want to see behind the curtain before
00:17:55.280 --> 00:17:56.789
we're going to put money Yeah. their
00:17:56.799 --> 00:17:58.789
projects. And then it's an intentionally
00:17:58.799 --> 00:18:01.990
long process just by design. A I think
00:18:02.000 --> 00:18:03.830
it takes a while to get to know someone,
00:18:03.840 --> 00:18:04.549
>> right? Yeah.
00:18:04.559 --> 00:18:07.830
>> B, equity by and large is a very
00:18:07.840 --> 00:18:09.750
transactional relationship.
00:18:09.760 --> 00:18:11.669
>> It's not a bad business model. It's just
00:18:11.679 --> 00:18:13.350
not one that we wanted. We wanted a
00:18:13.360 --> 00:18:14.950
partner relationship with these groups
00:18:14.960 --> 00:18:17.029
and not hey, we're closing in two weeks.
00:18:17.039 --> 00:18:18.950
Can you guys fun this project? It's like
00:18:18.960 --> 00:18:20.470
I don't know you, right?
00:18:20.480 --> 00:18:21.990
>> I'm not going to sprint to get on the
00:18:22.000 --> 00:18:23.909
writing done on this project. And so
00:18:23.919 --> 00:18:25.270
it's an intentionally long dating
00:18:25.280 --> 00:18:27.430
process to get onto the platform.
00:18:27.440 --> 00:18:28.870
>> So that's the first point is
00:18:28.880 --> 00:18:31.110
underwriting the actual people. Yeah.
00:18:31.120 --> 00:18:32.230
And then it's the investment
00:18:32.240 --> 00:18:33.830
opportunities and even though we have
00:18:33.840 --> 00:18:35.990
approved sponsors on our platform and
00:18:36.000 --> 00:18:37.750
this is why we needed a strong team
00:18:37.760 --> 00:18:40.070
which we do have. We don't take their
00:18:40.080 --> 00:18:42.150
underwriting as gospel. So we will
00:18:42.160 --> 00:18:44.230
underwrite the project ourselves.
00:18:44.240 --> 00:18:46.630
>> And yeah our whole thing is you know the
00:18:46.640 --> 00:18:47.990
kind of saying we'd say internally to
00:18:48.000 --> 00:18:50.630
each other is beat the living snot out
00:18:50.640 --> 00:18:52.390
of this investment opportunity. Yeah.
00:18:52.400 --> 00:18:54.710
there's any shine left, it's probably
00:18:54.720 --> 00:18:56.789
worth looking into even a little bit of
00:18:56.799 --> 00:18:57.830
air, right? Yeah.
00:18:57.840 --> 00:18:59.830
>> But we're going to beat it up. Yeah. Um
00:18:59.840 --> 00:19:01.430
and then site tours, all this stuff. So,
00:19:01.440 --> 00:19:03.190
we have our own gauntlet of due
00:19:03.200 --> 00:19:03.990
diligence.
00:19:04.000 --> 00:19:05.830
>> Yeah. It's amazing. By the way, and a
00:19:05.840 --> 00:19:07.669
couple things you hit on there, you guys
00:19:07.679 --> 00:19:09.830
are really in the people business.
00:19:09.840 --> 00:19:11.110
That's what's interesting about the show
00:19:11.120 --> 00:19:12.630
is in general, I've talked to people
00:19:12.640 --> 00:19:14.549
across all different verticals.
00:19:14.559 --> 00:19:16.630
Ultimately, it boils down to the people
00:19:16.640 --> 00:19:18.549
that you're working with on your team
00:19:18.559 --> 00:19:20.470
and the teams that you build to be able
00:19:20.480 --> 00:19:22.630
to go do the things that you do, right?
00:19:22.640 --> 00:19:23.990
And then the people that you're going to
00:19:24.000 --> 00:19:25.909
work with and like you said, you're
00:19:25.919 --> 00:19:27.350
investing in them.
00:19:27.360 --> 00:19:27.830
>> Yeah.
00:19:27.840 --> 00:19:29.750
>> Right. You have to do all the other
00:19:29.760 --> 00:19:31.350
things. You have to do all the blocking
00:19:31.360 --> 00:19:33.350
and tackling of understanding, is it a
00:19:33.360 --> 00:19:34.870
good deal? All that kind of stuff. Make
00:19:34.880 --> 00:19:37.110
sure that you're making a good decision.
00:19:37.120 --> 00:19:38.630
But the key point, I think, that you
00:19:38.640 --> 00:19:40.310
said was, let's say everything looks
00:19:40.320 --> 00:19:42.710
perfect, but the person's just not the
00:19:42.720 --> 00:19:43.669
right person. Yep.
00:19:43.679 --> 00:19:44.630
>> It's not the right deal.
00:19:45.520 --> 00:19:47.669
>> Right. And so that to me steps out as a
00:19:47.679 --> 00:19:49.430
as a key point, you know, in the way
00:19:49.440 --> 00:19:51.110
that you guys are operating and you can
00:19:51.120 --> 00:19:53.830
see that that's that's the history of I
00:19:53.840 --> 00:19:55.750
talked a little bit with Justin and kind
00:19:55.760 --> 00:19:57.990
of the organization and how people have
00:19:58.000 --> 00:19:59.669
operated together and the teams that
00:19:59.679 --> 00:20:02.070
have been built and uh the leadership
00:20:02.080 --> 00:20:03.990
that's there and the culture. You can
00:20:04.000 --> 00:20:06.310
see that that's spilled over into this
00:20:06.320 --> 00:20:07.669
organization. It's just terrific.
00:20:07.679 --> 00:20:10.870
>> 100%. I mean, we'll take them golfing.
00:20:10.880 --> 00:20:12.870
>> Did they break a club over their leg?
00:20:12.880 --> 00:20:13.909
rates aren't going their way.
00:20:13.919 --> 00:20:14.150
>> Yeah.
00:20:14.160 --> 00:20:15.750
>> Not an end all and be all, but that's a
00:20:15.760 --> 00:20:16.789
pretty good data point for
00:20:16.799 --> 00:20:17.990
>> absolutely. When things aren't going
00:20:18.000 --> 00:20:19.270
your way, how are you reacting?
00:20:19.280 --> 00:20:19.750
>> Yeah.
00:20:19.760 --> 00:20:21.669
>> If an investment's going south, are you
00:20:21.679 --> 00:20:23.350
going to be flipping out or are you
00:20:23.360 --> 00:20:25.110
going to be calm, collected,
00:20:25.120 --> 00:20:27.029
>> going into non-rine problem solving
00:20:27.039 --> 00:20:27.990
mode, or
00:20:28.000 --> 00:20:29.430
>> you got a pub over your leg?
00:20:29.440 --> 00:20:31.430
>> That's right. Take them out for a few
00:20:31.440 --> 00:20:33.750
bourbons. I'm a decently sized guy, can
00:20:33.760 --> 00:20:35.830
handle a few drinks. But yeah, do they
00:20:35.840 --> 00:20:37.029
start making crude comments about
00:20:37.039 --> 00:20:38.870
waitresses? Do they start being
00:20:38.880 --> 00:20:40.710
obnoxious talking about competitors?
00:20:40.720 --> 00:20:41.270
Yeah,
00:20:41.280 --> 00:20:43.110
>> that's a massive red flag for someone
00:20:43.120 --> 00:20:43.669
like me.
00:20:43.679 --> 00:20:44.870
>> Yeah. You know what, Mac? There's
00:20:44.880 --> 00:20:46.789
there's a there's a story there that I
00:20:46.799 --> 00:20:49.029
want people to be able to hear it that
00:20:49.039 --> 00:20:51.190
courtship process. Yeah. Right. And so,
00:20:51.200 --> 00:20:52.390
you could meet somebody, they're on
00:20:52.400 --> 00:20:54.390
their best behavior, but then that's not
00:20:54.400 --> 00:20:55.990
who they actually are, right? It starts
00:20:56.000 --> 00:20:57.750
to get into those social situations. And
00:20:57.760 --> 00:20:59.270
we've had people say they take people to
00:20:59.280 --> 00:21:01.270
dinner. Uh they'll take people to dinner
00:21:01.280 --> 00:21:03.350
maybe with their spouse for dinner.
00:21:03.360 --> 00:21:03.750
Great.
00:21:03.760 --> 00:21:05.190
>> That's a great one because you can start
00:21:05.200 --> 00:21:07.750
to I used to do that also. I'd bring my
00:21:07.760 --> 00:21:09.270
wife and kind of separate people and
00:21:09.280 --> 00:21:11.110
have conversations and meet back at the
00:21:11.120 --> 00:21:12.070
end and very
00:21:12.080 --> 00:21:13.909
>> well what what did we hear right and so
00:21:13.919 --> 00:21:15.669
so everybody out there just know that
00:21:15.679 --> 00:21:18.470
that process is part of the courtship
00:21:18.480 --> 00:21:20.870
process and so you know just know that
00:21:20.880 --> 00:21:22.870
you're kind of always on camera right
00:21:22.880 --> 00:21:24.950
ultimately and I do like the idea if you
00:21:24.960 --> 00:21:26.630
break a club over your leg probably not
00:21:26.640 --> 00:21:28.390
going to be the right person to to be
00:21:28.400 --> 00:21:30.310
able to be in business with it it's such
00:21:30.320 --> 00:21:31.750
a it's such a cool business and it's
00:21:31.760 --> 00:21:33.750
it's neat to see how it's spun out of
00:21:33.760 --> 00:21:35.430
Valleo and how it stands you know kind
00:21:35.440 --> 00:21:37.669
of what you guys are doing here Today
00:21:37.679 --> 00:21:39.270
I'm curious, one of the things that we
00:21:39.280 --> 00:21:41.669
talk to our leaders about is we're here
00:21:41.679 --> 00:21:43.510
to bring business systems and obviously
00:21:43.520 --> 00:21:46.149
a technology company and tech is
00:21:46.159 --> 00:21:49.029
evolving so quickly. I'm curious in your
00:21:49.039 --> 00:21:50.710
particular space,
00:21:50.720 --> 00:21:52.630
>> how's tech evolving and where you see it
00:21:52.640 --> 00:21:53.590
going in the near future?
00:21:53.600 --> 00:21:54.950
>> Yeah. Um,
00:21:54.960 --> 00:21:58.149
>> boy, real estate is paradoxical on this
00:21:58.159 --> 00:21:59.110
topic
00:21:59.120 --> 00:22:03.590
>> a little bit. Um it is real estate is
00:22:03.600 --> 00:22:06.549
archaic in many ways and which means
00:22:06.559 --> 00:22:09.350
crying for disruption. Yeah. With AI and
00:22:09.360 --> 00:22:12.789
all this tech. Um but at the same time
00:22:12.799 --> 00:22:16.789
it's protected I think from complete
00:22:16.799 --> 00:22:18.710
take you know AI takeover.
00:22:18.720 --> 00:22:19.270
>> Yeah.
00:22:19.280 --> 00:22:21.350
>> You know
00:22:21.360 --> 00:22:23.110
it feels like all underwriting models
00:22:23.120 --> 00:22:26.070
somehow came from one underwriting model
00:22:26.080 --> 00:22:27.990
from Duke at some point. Everyone's
00:22:28.000 --> 00:22:29.990
using the same one. everyone's using the
00:22:30.000 --> 00:22:32.710
same one. Um, and there's it's it's an
00:22:32.720 --> 00:22:35.110
industry that's very leans heavily into
00:22:35.120 --> 00:22:36.710
we've always done it this way. Let's
00:22:36.720 --> 00:22:37.750
continue to do it.
00:22:37.760 --> 00:22:38.230
>> Yeah.
00:22:38.240 --> 00:22:41.029
>> Um, so AI is I mean it's so ready for
00:22:41.039 --> 00:22:41.830
disruption.
00:22:41.840 --> 00:22:42.310
>> Mhm.
00:22:42.320 --> 00:22:45.029
>> Um, but you still need people to swing
00:22:45.039 --> 00:22:45.590
hammers.
00:22:45.600 --> 00:22:47.830
>> Yeah. You still need people to labor it.
00:22:47.840 --> 00:22:49.430
>> That's right. And you still need people
00:22:49.440 --> 00:22:51.190
to have relationships.
00:22:51.200 --> 00:22:54.549
>> Like NATO cannot substitute, you know,
00:22:54.559 --> 00:22:56.230
me or a sponsor going and talking to
00:22:56.240 --> 00:22:58.070
community stakeholders about project.
00:22:58.080 --> 00:22:59.990
>> That's right. We can't aot can take
00:23:00.000 --> 00:23:01.830
their temperature on yeah how they feel
00:23:01.840 --> 00:23:03.190
about a project and how are we going to
00:23:03.200 --> 00:23:05.990
navigate that. We can't AIB doesn't know
00:23:06.000 --> 00:23:08.149
how you know who's who pulls the permit
00:23:08.159 --> 00:23:10.149
for the municipality. What's the best
00:23:10.159 --> 00:23:11.270
way to approach them?
00:23:11.280 --> 00:23:11.590
>> Mhm.
00:23:11.600 --> 00:23:13.430
>> Um how do we seek incentives and build
00:23:13.440 --> 00:23:14.630
relationships? I mean
00:23:14.640 --> 00:23:15.510
>> Yep.
00:23:15.520 --> 00:23:18.230
>> So in a weird way it's very protected.
00:23:18.240 --> 00:23:18.630
>> Yeah.
00:23:18.640 --> 00:23:20.230
>> From complete takeover and complete
00:23:20.240 --> 00:23:21.029
disruption.
00:23:21.039 --> 00:23:21.430
>> Yeah.
00:23:21.440 --> 00:23:23.990
>> But there is plenty of opportunity. I
00:23:24.000 --> 00:23:26.230
think it's it's the data. I mean, real
00:23:26.240 --> 00:23:27.590
estate, whether it's developers,
00:23:27.600 --> 00:23:29.430
investors, you're sitting on mounds of
00:23:29.440 --> 00:23:29.990
data.
00:23:30.000 --> 00:23:30.710
>> Yeah.
00:23:30.720 --> 00:23:33.190
>> But there's no real good way to use it,
00:23:33.200 --> 00:23:35.029
right? And you can be way more
00:23:35.039 --> 00:23:37.750
efficient. EOS, I'm a sucker for EOS,
00:23:37.760 --> 00:23:39.190
the entrepreneur operating system.
00:23:39.200 --> 00:23:39.669
>> Oh, yeah.
00:23:39.679 --> 00:23:41.750
>> Out of the book, Traction. And they have
00:23:41.760 --> 00:23:43.990
a they have a saying in there which I
00:23:44.000 --> 00:23:45.750
>> just I absolutely love and I've tried to
00:23:45.760 --> 00:23:47.190
implement it everywhere we've gone. But
00:23:47.200 --> 00:23:49.590
it's systematize the predictable so you
00:23:49.600 --> 00:23:51.190
can humanize the exceptional.
00:23:51.200 --> 00:23:52.789
>> That's right. So the things you need to
00:23:52.799 --> 00:23:56.070
be doing correctly every single day
00:23:56.080 --> 00:23:57.909
>> and you can't mess up on those but they
00:23:57.919 --> 00:23:59.909
pick a lot of time build systems
00:23:59.919 --> 00:24:01.510
processes around that right
00:24:01.520 --> 00:24:02.710
>> so that you are making sure that you're
00:24:02.720 --> 00:24:04.470
doing it and what that does is free up
00:24:04.480 --> 00:24:05.909
your bandwidth
00:24:05.919 --> 00:24:07.990
>> to do the exceptional things
00:24:08.000 --> 00:24:09.590
>> the critical thinking things the
00:24:09.600 --> 00:24:11.669
strategy things and that's why I think
00:24:11.679 --> 00:24:13.350
AI is going to come in and absolutely
00:24:13.360 --> 00:24:14.070
help
00:24:14.080 --> 00:24:15.750
>> agreed and and by the way at that point
00:24:15.760 --> 00:24:17.990
I think you nail it I think you you
00:24:18.000 --> 00:24:20.230
leverage AI and tool sets and different
00:24:20.240 --> 00:24:22.789
things to be ble to take the mundane and
00:24:22.799 --> 00:24:24.789
I have this Excel stuff has to get done.
00:24:24.799 --> 00:24:26.470
These things have to happen. It's two
00:24:26.480 --> 00:24:28.870
hours of my day. If I get that two hours
00:24:28.880 --> 00:24:31.190
back, I can go be in front of somebody.
00:24:31.200 --> 00:24:32.870
Well, maybe with that person, it could
00:24:32.880 --> 00:24:35.029
be building a relationship, building
00:24:35.039 --> 00:24:37.350
more no- like and trust opportunity. And
00:24:37.360 --> 00:24:39.110
that's where the real business will get
00:24:39.120 --> 00:24:39.909
done. Yeah.
00:24:39.919 --> 00:24:42.070
>> The things that have to get done is
00:24:42.080 --> 00:24:43.830
terrific. Automate that stuff all day
00:24:43.840 --> 00:24:46.070
long. It'll be neat to see what happens
00:24:46.080 --> 00:24:47.830
in the business over the next few years
00:24:47.840 --> 00:24:50.230
as some of that automation takes place
00:24:50.240 --> 00:24:52.390
and where and the creativity that the
00:24:52.400 --> 00:24:55.590
humans you work with and get to work for
00:24:55.600 --> 00:24:57.110
where that kind of goes where I see
00:24:57.120 --> 00:24:58.549
where it actually takes the business in
00:24:58.559 --> 00:25:00.549
future. Shifting gears, you've talked a
00:25:00.559 --> 00:25:02.390
little bit about this throughout your
00:25:02.400 --> 00:25:04.310
story from the beginning, but you've
00:25:04.320 --> 00:25:05.669
kind of mentioned you know different
00:25:05.679 --> 00:25:07.590
communities that you've been in. The
00:25:07.600 --> 00:25:09.669
question we ask our leaders is what's
00:25:09.679 --> 00:25:11.190
community mean to you?
00:25:11.200 --> 00:25:12.870
>> Yeah, that's a great question. And I
00:25:12.880 --> 00:25:17.110
love that you're asking it. Um, service,
00:25:17.120 --> 00:25:19.110
a life without service to me is a life
00:25:19.120 --> 00:25:20.630
not well-lived.
00:25:20.640 --> 00:25:23.110
>> Um, and I've been very fortunate with my
00:25:23.120 --> 00:25:25.190
family, with the schools I've been
00:25:25.200 --> 00:25:27.590
involved with, with the parishes I've
00:25:27.600 --> 00:25:30.470
been involved with. Um, you think that
00:25:30.480 --> 00:25:32.390
it's taking out time from your life, and
00:25:32.400 --> 00:25:35.510
it is, but it brings unbelievable
00:25:35.520 --> 00:25:37.510
balance is what I found into your life
00:25:37.520 --> 00:25:39.669
by serving, whether that's with
00:25:39.679 --> 00:25:41.350
nonprofits or organizations that are
00:25:41.360 --> 00:25:42.470
near and dear to your heart. So
00:25:42.480 --> 00:25:45.510
community to me is kind of twofold. It's
00:25:45.520 --> 00:25:47.269
belonging. There's a sense of belonging.
00:25:47.279 --> 00:25:49.110
I mean, that's what community means, but
00:25:49.120 --> 00:25:50.630
there's a sense of responsibility that
00:25:50.640 --> 00:25:53.669
comes with it, right? So even even going
00:25:53.679 --> 00:25:55.430
back to my earlier comment about, you
00:25:55.440 --> 00:25:57.590
know, the high school football team in
00:25:57.600 --> 00:26:00.149
the glory days, Bruce Springsteen, like
00:26:00.159 --> 00:26:03.590
it was a great football program and you
00:26:03.600 --> 00:26:05.350
belong to it and that was important, but
00:26:05.360 --> 00:26:07.269
you had an insane responsibility.
00:26:07.279 --> 00:26:07.669
>> That's right.
00:26:07.679 --> 00:26:08.870
>> To be a part of that.
00:26:08.880 --> 00:26:11.110
>> Yep. Um my parish, same thing. I think
00:26:11.120 --> 00:26:12.870
there's a sense of belonging
00:26:12.880 --> 00:26:15.190
>> and also that comes with incredible
00:26:15.200 --> 00:26:16.789
responsibility.
00:26:16.799 --> 00:26:20.630
Um IU the IU Kelly program um they had a
00:26:20.640 --> 00:26:21.669
professor when I was in there called
00:26:21.679 --> 00:26:23.909
Doug Austin. His name was Doug Austin
00:26:23.919 --> 00:26:25.750
and he taught the sc soft science of
00:26:25.760 --> 00:26:26.549
business. Yeah.
00:26:26.559 --> 00:26:29.269
>> Which I'm a sucker on. I will hookline
00:26:29.279 --> 00:26:33.269
and sinker. I'm all in on that. Um he he
00:26:33.279 --> 00:26:34.630
came in first day of a lecture hall.
00:26:34.640 --> 00:26:37.350
Huge lecture hall. And uh put down his
00:26:37.360 --> 00:26:39.190
briefcase and this is just one example
00:26:39.200 --> 00:26:41.430
of dog. put down his briefcase and he
00:26:41.440 --> 00:26:42.710
was saying, "All right, folks. I'm going
00:26:42.720 --> 00:26:44.230
to tell you the secret to successful
00:26:44.240 --> 00:26:46.230
business. If you do what I'm about to
00:26:46.240 --> 00:26:47.669
tell you that you can go to the burser's
00:26:47.679 --> 00:26:49.590
office and get your tuition back." So
00:26:49.600 --> 00:26:51.750
like everyone leaned in. Look, they're
00:26:51.760 --> 00:26:53.430
kind of like getting ready to take out.
00:26:53.440 --> 00:26:53.909
>> Yeah. Yeah.
00:26:53.919 --> 00:26:59.029
>> He goes, "You ready? Hire great people
00:26:59.039 --> 00:27:01.269
in the finance majors and supply chain
00:27:01.279 --> 00:27:01.990
management."
00:27:02.000 --> 00:27:02.950
>> Yeah. Yeah.
00:27:02.960 --> 00:27:04.549
>> Yeah. I was like, "Oh, no. This this
00:27:04.559 --> 00:27:04.789
good.
00:27:04.799 --> 00:27:06.230
>> This good." Yeah. This gold.
00:27:06.240 --> 00:27:09.750
>> This gold. This is true. Um and you know
00:27:09.760 --> 00:27:12.230
encourage your empower your employees,
00:27:12.240 --> 00:27:13.430
encourage the heart.
00:27:13.440 --> 00:27:13.909
>> Yeah.
00:27:13.919 --> 00:27:16.870
>> Hire you know hire hard, fire fast.
00:27:16.880 --> 00:27:19.510
>> Yeah. And I'll never forget he had um it
00:27:19.520 --> 00:27:21.430
was one class and it's still to this day
00:27:21.440 --> 00:27:22.870
one of the best pieces of advice I ever
00:27:22.880 --> 00:27:25.029
got. And I will tell any young person to
00:27:25.039 --> 00:27:26.789
do the same. He's like companies had
00:27:26.799 --> 00:27:28.710
mission statements. Companies have core
00:27:28.720 --> 00:27:31.510
values. Insanely important.
00:27:31.520 --> 00:27:33.590
>> You're going to come across fork and
00:27:33.600 --> 00:27:35.590
road decisions. This world is filled
00:27:35.600 --> 00:27:37.830
with shades of gray. Mhm.
00:27:37.840 --> 00:27:40.230
>> Um he goes, "You need a mission
00:27:40.240 --> 00:27:41.190
statement, though."
00:27:41.200 --> 00:27:41.669
>> M
00:27:41.679 --> 00:27:43.350
>> your own personal mission statement.
00:27:43.360 --> 00:27:43.669
>> Yeah.
00:27:43.679 --> 00:27:45.190
>> Not just your company, not just your
00:27:45.200 --> 00:27:46.630
organization. You need one.
00:27:46.640 --> 00:27:47.110
>> Mhm.
00:27:47.120 --> 00:27:48.710
>> He's like, "You're going to come in a
00:27:48.720 --> 00:27:50.870
lot of, you know, moments in life where
00:27:50.880 --> 00:27:52.149
what is the right call?
00:27:52.159 --> 00:27:52.470
>> Mhm.
00:27:52.480 --> 00:27:54.230
>> Do I take a left? Do I take a right?
00:27:54.240 --> 00:27:56.630
Yeah. I'm I'm cloudy. I don't know what
00:27:56.640 --> 00:27:58.789
decision to make." And so he encouraged
00:27:58.799 --> 00:28:00.310
us to come up with our own personal
00:28:00.320 --> 00:28:01.750
mission statement. Great advice. Oh,
00:28:01.760 --> 00:28:03.430
it's unbelievable. And I work really
00:28:03.440 --> 00:28:05.350
hard trying to develop mine. And it's be
00:28:05.360 --> 00:28:07.190
a fountain instead of a drain for your
00:28:07.200 --> 00:28:09.029
family, friends, co-workers, and
00:28:09.039 --> 00:28:10.789
community. So you bring glory and honor
00:28:10.799 --> 00:28:11.350
to God.
00:28:11.360 --> 00:28:11.990
>> Yeah.
00:28:12.000 --> 00:28:13.750
>> But basically at the end of my life, I
00:28:13.760 --> 00:28:16.070
want to be known as like he gave way
00:28:16.080 --> 00:28:17.269
more than he took.
00:28:17.279 --> 00:28:17.830
>> Yeah.
00:28:17.840 --> 00:28:19.830
>> Um and so community to me, wrapping it
00:28:19.840 --> 00:28:21.669
back into community is again you're
00:28:21.679 --> 00:28:22.789
belonging, but you've got a
00:28:22.799 --> 00:28:24.230
responsibility to pour in.
00:28:24.240 --> 00:28:24.789
>> Yeah, you do.
00:28:24.799 --> 00:28:26.310
>> Because if you're a taker, you're not a
00:28:26.320 --> 00:28:27.669
great member of that community.
00:28:27.679 --> 00:28:29.510
>> Yeah. Yeah. It's interesting. Be a
00:28:29.520 --> 00:28:30.870
fountain, not a drain. By the way,
00:28:30.880 --> 00:28:32.389
that's terrific. That might be the name
00:28:32.399 --> 00:28:33.990
of the episode we'll call this because
00:28:34.000 --> 00:28:35.990
that's really good. The other piece
00:28:36.000 --> 00:28:37.269
that's interesting when you think about
00:28:37.279 --> 00:28:38.710
communities, you mentioned your parish
00:28:38.720 --> 00:28:40.230
and school and being part of that
00:28:40.240 --> 00:28:41.830
football team. When you're together,
00:28:41.840 --> 00:28:43.190
you're in that community, but when
00:28:43.200 --> 00:28:45.269
you're separated by yourself, you
00:28:45.279 --> 00:28:47.029
represent that community.
00:28:47.039 --> 00:28:47.510
>> Yeah.
00:28:47.520 --> 00:28:48.149
>> Right.
00:28:48.159 --> 00:28:50.870
>> And so th those are the pieces that I
00:28:50.880 --> 00:28:52.549
think people need to be considerate of
00:28:52.559 --> 00:28:54.789
is because you are a representation of
00:28:54.799 --> 00:28:56.950
the community that you're part of. And
00:28:56.960 --> 00:28:59.750
so you want to uphold that. But I also
00:28:59.760 --> 00:29:01.430
really enjoy the opportunity that you
00:29:01.440 --> 00:29:03.350
know when when things come to the end,
00:29:03.360 --> 00:29:04.950
you know, being somebody that gave more
00:29:04.960 --> 00:29:06.710
than they take and becoming a fountain
00:29:06.720 --> 00:29:09.029
and not a dream is amazing by the way.
00:29:09.039 --> 00:29:10.470
Love that. So when I think about your
00:29:10.480 --> 00:29:12.149
story just in general. Yeah.
00:29:12.159 --> 00:29:13.830
>> Growing up in what I think is a
00:29:13.840 --> 00:29:15.590
beautiful place. Don't go up there
00:29:15.600 --> 00:29:17.269
though. You guys want to I mean I mean
00:29:17.279 --> 00:29:19.669
we too far to drive all those kind of
00:29:19.679 --> 00:29:21.190
things. It is beautiful. It's really
00:29:21.200 --> 00:29:21.830
nice.
00:29:21.840 --> 00:29:23.590
>> Growing up there playing football and
00:29:23.600 --> 00:29:26.070
having that experience of playing for
00:29:26.080 --> 00:29:27.830
kind of an iconic program.
00:29:27.840 --> 00:29:28.149
>> Yeah.
00:29:28.159 --> 00:29:29.590
>> Right. and then bucking the system and
00:29:29.600 --> 00:29:31.110
going down to IU, right? Because you had
00:29:31.120 --> 00:29:32.630
candyst stripe dreams when you were a
00:29:32.640 --> 00:29:33.510
young kid,
00:29:33.520 --> 00:29:35.350
>> heading down there, going to school,
00:29:35.360 --> 00:29:37.590
studying, you know, biology and then
00:29:37.600 --> 00:29:39.830
going down the path and making changes,
00:29:39.840 --> 00:29:42.149
right? Yeah. Which, by the way, is just
00:29:42.159 --> 00:29:44.549
classic, which is why I mentioned it in
00:29:44.559 --> 00:29:46.230
there. then getting into law and doing
00:29:46.240 --> 00:29:48.149
different things and and you know
00:29:48.159 --> 00:29:50.310
reaching out at some point to an
00:29:50.320 --> 00:29:52.789
individual that you had some common
00:29:52.799 --> 00:29:54.950
interest with and some background with
00:29:54.960 --> 00:29:56.470
and then ending up just having a cup of
00:29:56.480 --> 00:29:58.149
coffee and then doing that quarterly and
00:29:58.159 --> 00:29:59.750
the next thing you know hey there's this
00:29:59.760 --> 00:30:02.389
opportunity joining Valo you know
00:30:02.399 --> 00:30:04.310
putting it together and now spinning off
00:30:04.320 --> 00:30:06.149
you know 2.0 You know, it's a terrific
00:30:06.159 --> 00:30:08.789
story and uh it's just it's just great
00:30:08.799 --> 00:30:10.630
to hear the way that you thought about
00:30:10.640 --> 00:30:12.230
leadership, the way you're currently
00:30:12.240 --> 00:30:13.830
leading, you know, the way you work
00:30:13.840 --> 00:30:15.510
through those other organizations to
00:30:15.520 --> 00:30:17.190
build and shape who you are now to be
00:30:17.200 --> 00:30:18.630
able to have this opportunity for you
00:30:18.640 --> 00:30:20.710
and your family. It's terrific.
00:30:20.720 --> 00:30:22.630
>> Last question I got, easiest one of the
00:30:22.640 --> 00:30:22.870
day.
00:30:22.880 --> 00:30:23.190
>> Yeah.
00:30:23.200 --> 00:30:24.230
>> If you're not working, what are you
00:30:24.240 --> 00:30:24.870
doing for fun?
00:30:24.880 --> 00:30:26.070
>> I'm with my family.
00:30:26.080 --> 00:30:28.070
>> Yeah. I mean, I don't have a whole lot
00:30:28.080 --> 00:30:30.389
of time. I like obviously the work.
00:30:30.399 --> 00:30:31.830
Yeah. And then being involved in
00:30:31.840 --> 00:30:34.470
community, whether it's Penrod or the IU
00:30:34.480 --> 00:30:36.710
real estate program,
00:30:36.720 --> 00:30:39.350
St. Luke Parish. So, I need that extra
00:30:39.360 --> 00:30:41.430
time. I want to be a present dad.
00:30:41.440 --> 00:30:41.750
>> Yeah.
00:30:41.760 --> 00:30:44.310
>> So, I want to coach teens and fourth
00:30:44.320 --> 00:30:46.950
grade CO city champs. That's right.
00:30:46.960 --> 00:30:48.149
Boooo. That's right.
00:30:48.159 --> 00:30:49.510
>> And just be with my family.
00:30:49.520 --> 00:30:53.430
>> Yeah. That's my fun. And then I sports
00:30:53.440 --> 00:30:55.190
anytime I can have an excuse to get down
00:30:55.200 --> 00:30:56.070
to Bloomington.
00:30:56.080 --> 00:30:57.750
>> Yeah. I'm taking it. And now and now
00:30:57.760 --> 00:30:59.590
coming off that exit and they're like 20
00:30:59.600 --> 00:31:01.590
and 0 in the last one. Yeah. This it's a
00:31:01.600 --> 00:31:04.549
lot easier to Z fans today. Hell yeah.
00:31:04.559 --> 00:31:06.149
>> And then I do basketball. We love
00:31:06.159 --> 00:31:07.990
Pacers. We're a big sports family.
00:31:08.000 --> 00:31:09.669
>> Yeah, sure. We love sports. That's
00:31:09.679 --> 00:31:11.350
awesome. My wife loves sports. We've
00:31:11.360 --> 00:31:13.909
indoctrinated our kids in IU sports, but
00:31:13.919 --> 00:31:16.470
they love the Pacers. Um we just we like
00:31:16.480 --> 00:31:18.389
to have a fun time. It's awesome, Mac.
00:31:18.399 --> 00:31:20.710
Appreciate you. Continued success, my
00:31:20.720 --> 00:31:22.310
friend, with you, your family, your
00:31:22.320 --> 00:31:23.590
communities that you're part of, and
00:31:23.600 --> 00:31:25.190
obviously the new organization and
00:31:25.200 --> 00:31:26.870
leading that. and appreciate you being
00:31:26.880 --> 00:31:27.350
on the show.
00:31:27.360 --> 00:31:29.029
>> Thanks, Jason. Appreciate it.
00:31:29.039 --> 00:31:30.950
>> Thank you for listening to the Elevate
00:31:30.960 --> 00:31:33.909
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