Topic
17 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
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Long Lake Management agreed to acquire American Express Global Business Travel in a deal valued at $6.3 billion.
“you've agreed to acquire American Express Global Business Travel, the world's largest corporate travel platform, for 6.3 billion, which is pretty amazing.”
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Long Lake Management had completed roughly 30 acquisitions before the Amex GBT deal, based on transforming businesses with AI.
“And before that, you've already done 30 acquisitions under this premise that you can buy businesses and transform them with AI.”
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Alexander Taubman says roughly 80 percent of the infrastructure of Long Lake's Nexus platform is shared across its industry verticals.
“Um, I'd say roughly 80 of the infrastructure is shared across the verticals, and then there's a lot of work to take it and deploy it into those end markets.”
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Taubman says it took Long Lake over a year on its first acquisitions to realize AI's potential in business outcomes.
“you know, in the beginning, it took us over a year with our first acquisitions to actually, you know, find the the real potential of AI”
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Taubman says Long Lake can now deploy Nexus within days of partnering with a company.
“But now, within days of partnering with a company, we can deploy this very quickly and see immediate impact.”
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Taubman says Long Lake's homeowners association (HOA) business is the fastest-growing company in the HOA industry and is growing organically.
“We're fastest growing company in the HOA industry. Now we are growing organically.”
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Taubman says the acquired HOA businesses grew about 0-5% a year in volume before acquisition and now grow more than 20% a year.
“they were typically growing zero to 5 a year in terms of volume. We're now growing 20 plus a year.”
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Long Lake's co-founder and chief technology officer, Rasmus, met Alexander Taubman through an early investor and board member.
“Rasmus, our our co-founder and CTO, uh, he and I were connected through one of our f, you know, early investors and board members.”
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Taubman says Long Lake's early team included people from Palantir, Ramp, Robinhood and Glean.
“And people from, you know, places like Palantir, Ramp, Robinhood, you know, um, some of the top glean, some of the top, um, sort of modern AI and data, uh, companies.”
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Taubman says a Long Lake co-founder who leads mergers and acquisitions came from the private equity firm GTCR, where he worked on its most profitable deal ever the month before leaving.
“one of our co-founders and M. A lead came from GTCR. He actually worked on the most profitable deal in their history, the month before he left to come to Long Lake.”
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Taubman says Long Lake keeps a list of 15 to 20 target industries, and travel was always on it.
“We have a whiteboard of call it 15, 20 industries that we think are very high value for us to focus on. And travel was always one of them.”
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Taubman says travel appealed to Long Lake because it is mission critical, has a high cost of failure, and most trips generate revenue.
“it's a mission critical service, it's high cost of failure, um, most trips are revenue generating.”
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Taubman says Long Lake's stated plan for Amex GBT is to build on the company's existing AI transformation strategy.
“our vision is to really double down on the company's existing AI transformation strategy.”
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Taubman says Danaher Corporation, which began in manufacturing and moved into life sciences, is a model that inspired Long Lake's strategy of compounding through an operating model.
“So part of what inspired us always about, you know, the Danahers of the world is they were able to compound.”
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Taubman says Long Lake's pitch to acquired companies includes engineers who effectively work in their offices for about two years.
“our extraordinary engineering team will s basically live in your office for the next two years, helping you fix all your problems.”
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Taubman says that in Long Lake's first four verticals, original founders and leaders have rolled over significant equity into the new business.
“in our first four verticals, service lines that we've gone into, we have significant rollover participation from the original founders”
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Taubman says AI can make existing teams 30 to 40 percent more efficient so they can handle more customers.
“when you make your existing teams 30, 40 more efficient and they can handle more customers.”
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