I asked Charlie Munger what he thought of Jeff Bezos, and he told me that Bezos was ferociously intelligent.

In this book, Buffett calls Bezos a miracle worker.

And something that Bezos had in common with Munger and Buffett is from day one.

In his very first shareholder letter, Jeff Bezos emphasized the importance of having the very best team.

He wrote, setting the bar high in our approach to hiring has been and will

continue to be the single most important element of Amazon's success. Bezos's focus on talent

is just like this quote from Steve Jobs that happened in an interview that Steve gave the very

same year in 1997. And Steve said, I think that I've consistently figured out who the really smart

people are to hang around with. You must find extraordinary people. The key observation is that

in most things in life, the dynamic range, you'll hear me repeat that over and over again in this

episode, the dynamic range between the average quality and the best quality is at most two to one.

But in the field that I was interested in, I noticed the dynamic range between what an average person could

accomplish and what the best person could accomplish was 50 or 100 to 1. So given that, you're well

advised to go after the cream of the cream and to build a team that pursues the A plus players. And that is exactly

what Ramp did. Ramp has the most talented technical team in their industry. Becoming an engineer

at Ramp is nearly impossible. In the last 12 months, they've hired only 0.23% of the people that applied.

This means when you use Ramp, you now have top tier technical

talent and some of the best AI engineers working on your behalf 24-7 to automate and improve

all of your businesses' financial operations. And they do this on a single platform, which means

the longer that you use Ramp, the more efficient your company becomes. That is very important

because as Sam Walton said

in his autobiography, you can still make a lot of different mistakes and still recover if you run an

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