In the long game of private equity, forgoing a short-term advantage when in a position of strength builds goodwill that will be reciprocated when you are in a weaker position. Exploiting power creates lasting mistrust that ultimately damages long-term success in a relationship-driven industry.

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.

According to Mohnish Pabrai, Buffett categorizes people into three groups: 3% are terrible, 94% are average, and 3% are wonderful. To optimize your life and associations, ignore the bottom 97% and concentrate your energy exclusively on the top 3% of genuinely wonderful people.

The most effective masterminds consist of people from different industries and business stages. This diversity prevents direct comparison and fosters richer insights. The crucial factor for curation isn't similar resumes but shared values like generosity, honesty, and a willingness to learn. Energy alignment trumps expertise alignment.

Charlie Munger's term describes leaders who aren't just driven, but are adaptable learning machines. They build high-performance cultures based on trust and ownership, focus on long-term value, and create competitive moats that rivals cannot initially comprehend or replicate.

New investors should prioritize building a network that aligns with their fund's specific investment thesis. Generic networking is inefficient; focus on cultivating relationships with individuals who fit the fund's "ideal customer profile" to generate high-quality deal flow, as 80% of funded deals can come from this source.

High performers don't network passively; they treat it as a core operational discipline with measurable goals. By setting a simple metric, such as making one valuable introduction for others per week, they proactively nurture their network with a giving-first mentality. This systematic approach builds immense social capital and karmic returns over time.

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.

In a world of transactional relationships and fleeting reputations, the only reliable filter for character is time. Look for individuals who have maintained the same close team and friends for decades. This longevity is a strong signal of loyalty, integrity, and trustworthiness.