To avoid loneliness, successful entrepreneurs should cultivate two distinct friendship circles. One consists of industry peers who understand the unique challenges of their work. The other is made of local friends who connect with them as a person, completely separate from their professional identity.

Unbound Merino's founders reject the common wisdom that business and friendship don't mix. They argue it's an advantage because you start with baked-in trust and value alignment, making it easier and more enjoyable to navigate the inevitable challenges of building a company.

To predict the future health of a partnership, intentionally have difficult conversations before any investment is made. If you can't productively disagree or discuss serious problems before you're formally linked, it's highly unlikely you'll be able to do so when the stakes are higher post-investment.

The difference between a true partner and an employee is whether you seek their counsel on complex problems. If you consistently go to them for advice when you're unsure, they're a partner. If you only give them direction, they are not a "thought partner," which is a red flag for a C-level executive role.

Technical competence is the easiest part of a technical co-founder to evaluate. The real risks lie in misaligned goals (lifestyle vs. unicorn), personality clashes, and incompatible work styles. Prioritize assessing these crucial "human" factors first.

The people around you set your performance floor and ceiling. Conduct a 'friendventory' by asking tough questions like, "Would I let my child date them?" and "Are they energy amplifiers or vampires?" to intentionally curate a circle that pushes you forward, not holds you back.

Focus energy solely on building deep, trust-based relationships with exceptional individuals. Munger believed most people are "rat poison" and should be avoided, as high-quality networks prevent most problems before they happen.

The founders credit their successful partnership to an equal commitment to hard work. By dividing responsibilities and working independently before collaborating ('divide and conquer'), they ensure an even playing field and avoid the common pitfalls of co-founder burnout or resentment that often ruin business friendships.

Financial capital is secondary to the value of human relationships. Your network incubates your future potential, providing access to opportunities, knowledge, and support that money cannot buy. A person with strong relationships needs little money, as everything they need will flow through those connections.