Permanent Equity: Investing in Companies that Care What Happens Next

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Competitive Hugs

If you follow him on X, then you probably know that our CEO Brent has been on a bit of a health kick this year. And while I absolutely will continue to make the joke that cholesterol is the biggest existential risk facing Permanent Equity, it’s a pretty impressive feat that he’s gotten close to running a sub-seven-minute mile. What’s more, that is going to make Permanent Equity’s annual Run to Rocheport “fun run” (happening tomorrow!) a bit more interesting.

But you know who else has gotten close to running a sub-seven-minute mile? My 13-year-old son! This has me worried because I have never lost a Turkey Trot in the Family Division, holding off decades of challenges from siblings, cousins, nephews, uncles-in-law, etc. Is this the year that record falls?

I’ll tell you what: I’ve been working my butt off to make sure it isn’t. With both Brent and my son shedding time, I’ve reintroduced more painful speed and interval workouts into my routine to make sure I am still able to run a mile closer to six than seven. 

This is the healthy side of competition. It’s a force that can help us all get better at something together. 

Yet being competitive is also a trait I have struggled with during my career at the office. In what areas should I compete? How competitive should I be? And in what areas has being competitive helped my career vis a vis areas where being so has hurt it?

After more than 15 years of working with our COO Mark, I think it’s safe to say that he is less competitive than I am. But he’s just as successful, if not more so. How does that work?

It’s with that as background that I had to tweak him when he posted the following cartoon:

“Why do you hate winning?” I responded.

In truth, Mark doesn’t hate winning, and that’s actually what makes us reasonable coworkers. We approach the world with different mentalities, which makes for what Mark calls a “productive dichotomy.”

In order for a dichotomy to be productive, however, you need to respect that the differences you have with a colleague are both valid and interesting. Further, if you’re competitive, like I am, it’s also becoming self-aware that a competitive streak does not give you license to be an asshole. 

Candidly, 20 years ago, given the same set of circumstances if either Brent or Ben ran me down in a race, I’d have been pissed. If it happens this year or next, I’m going to give them a hug.

– By Tim Hanson


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