Michael Arrieta - Building the World's Best Holding Company - Ep.117
b"My guest on this episode is Michael Arrieta. Michael is the founder of Garden City and has raised $51 million in permanent capital to acquire family-owned businesses across the country. The raise was completed in March 2020, and already they have three wholly-owned companies and minority stakes in two. \\nMichael came highly recommended by Brent Beshore, and I can see why from our conversations. It's clear that Michael is a student of business and has mental models of hundreds of companies floating around in his head. He also has a remarkable sense of empathy and mission at Garden City, a mission which we discussed throughout the episode extensively. \\nDuring our conversation, we talk about raising without a private equity background, how to involve investors in your portfolio companies as mentors, how they recruit, the technology and systems they implement at their companies, and all things Chick-fil-A, a business Michael has studied extensively. Please enjoy my episode with Michael.\\nListen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn.\\n\\nLinks:\\nMichael on LinkedIn\\nGarden City Companies\\nWhy it only costs $10k to own a Chick-Fil-A Franchise\\n\\nTopics:\\n(4:42) - Michael\\u2019s background and career\\n(7:27) - What was it about VC that caused you to hesitate to pursue your career in that world?\\n(8:59)\\xa0What memories stick out from your time as a chief of staff that have helped you in your current role?\\n(12:00) - What\\u2019s the thesis behind Garden City?\\n(13:39) - How did you go about fundraising?\\n(17:12) - What started to become possible once you saw an increase in capital interest and were there any tradeoffs you had to make in order to secure more funding?\\n(22:14) - Where are you seeing your deal flow come from?\\n(24:55) - What are some of the companies that you own?\\n(28:52) - How do you approach implementing technology in your acquisitions?\\n(31:42) - How do you find great people to bring on to your companies?\\n(34:11) - How much advice do you get from your investor base?\\n(36:25) - What do you view as your role within Garden City?\\n(39:21) - How do you build relationships with leaders in the companies you acquire?\\n(41:26) - What companies inspire you?\\n(47:46) - What college class would you teach if it could be about anything?\\n(48:25) - What strongly held belief have you changed your mind on?\\n(49:41) - What\\u2019s the best business you\\u2019ve ever seen?"