Tony and Jordan just realized they've gotten this far despite not being aware of their most important role: capital allocation.

They talk about Fred Boothby doing deals with zero of his own money while they're still setting up property management software themselves.

Revenue is just vanity metrics. What matters is cash on cash return and IRR. The real question isn't how do I get more bookings, it's where does my next dollar produce the highest return?

And the answer for almost everyone is the same: hiring better people so you stop doing the things you hate.

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