Kaustubh Deo and Sam Rosati return for a wide-ranging episode that blends personal updates with deeper reflections on business building and investment philosophy. They begin by recapping Sam’s family trip to Hawaii and updating their ongoing fitness tracker challenge, before diving into a detailed reflection on their recent interview with Chase Murdock. The conversation explores Chase’s unique approach to building a HoldCo in Salt Lake City, emphasizing leadership, locality, and a low-leverage, high-growth strategy. From there, the hosts discuss the appeal and drawbacks of various HoldCo models, the nuances of risk management, and their evolving approaches to cash management, M\&A, and side hustles. They close by reflecting on the power of writing and teaching as a tool for community building and legacy. They discuss: • Chase Murdock’s approach to building a local, low-leverage HoldCo and why it works • The pros and cons of operating with a partner and staying in a narrow geographic market • How both hosts are thinking about personal cash allocation, passive investing, and risk barbell strategies • The case for buying small add-ons in industries you already know • Building a long-term content and syndicate platform through consistent writing and investing An insightful episode for entrepreneurs balancing operations, investing, and long-term life design. Topics: 00:00 - Intro 01:09 - Hawaii Vacation Recap 03:43 - Activity Tracker and Fitness Routine 06:03 - Recapping the Chase Murdock Interview 21:08 - Personal Investment Strategies 29:08 - Balancing Multiple Investments 36:01 - Shared Services and Side Hustles 37:55 - Industry-Specific M\&A Strategies 48:19 - Syndicate Deals and Investment Strategies 01:01:28 - Activity Competition and Future Plans 01:05:20 - Conclusion and Preview of Next Episode