Trae Stephens - Find Good Quests - [Invest Like the Best, EP.319]

<p dir="ltr">My guest this week is <a href= "https://twitter.com/traestephens">Trae Stephens</a>. Trae is a partner at Founders Fund and co-founder and Executive Chairman of Anduril. Trae’s philosophy can be boiled down to finding good quests, which has led him to investing in businesses that work closely with the government on societally important issues. Clearly, that extends to co-founding Anduril and I would highly recommend listening to my Business Breakdowns <a href= "https://www.joincolossus.com/episodes/95062882/schimpf-building-the-future-of-defense?tab=transcript"> episode on Anduril</a> if you haven’t already. In this conversation, we discuss the importance of lobbyists, why the high-tech defense firms of the past became stale, and how he hunts for disagreeableness in founders. Please enjoy my conversation with Trae Stephens.</p> <p><strong> </strong></p> <p dir="ltr">For the full show notes, transcript, and links to mentioned content, check out the episode page <a href= "https://www.joincolossus.com/episodes/39798384/stephens-find-good-quests"> here</a>.</p> <p><strong> </strong></p> <p dir="ltr">Listen to <a href="https://pod.link/founders">Founders Podcast</a></p> <p dir="ltr">Founders <a href= "https://www.joincolossus.com/episodes/57462813/senra-estee-lauder-her-success-story?tab=transcript"> Episode 136 - Estee Lauder</a></p> <p dir="ltr">Founders <a href= "https://www.joincolossus.com/episodes/69912643/senra-ralph-lauren-the-man-behind-the-mystique"> Episode 288 - Ralph Lauren</a></p> <p><strong> </strong></p> <p dir="ltr">-----</p> <p><strong> </strong></p> <p dir="ltr"><strong>This episode is brought to you by <a href= "https://www.tegus.co/patrick">Tegus,</a> the modern research platform for leading investors. I’m a longtime user and advocate of Tegus, a company that I’ve been so consistently impressed with that last fall my firm, Positive Sum, invested $20M to support Tegus’ mission to expand its product ecosystem. Whether it’s quantitative analysis, company disclosures, management presentat