Eric Siu explains the first principle for building a business that lasts generations: assemble an exceptional team of experts. He points to Renaissance Technologies as a model for how the right people compound value over decades.
The first principles of building a generational business. If we're talking about building a multibillion-dollar company like a Walmart or something like that for the long term, or like a Hermes or something, the very first thing that I think needs to happen is you have to build an exceptional team. And that gets said so much. But when you look at the teams like Renaissance Technologies, for example, their team, everybody was expert mathematician, right? This was like an investment firm. That's one of the first principles of building a generational business.
