In a market where Manhattan offices sit empty and $1.5T in real estate debt awaits refinancing, timing is paramount. Ask Scott Rechler—he sold his company at the peak in '07, waited out the crash, then built RXR into a $17 B GAV empire.

In this episode of Change Order, hosted by Jason Shuman, he shares:

• how he built a $6B business— twice

• handling Carl Icahn's hostile takeover bid

• what he learnt from Sam Zell & Danny Meyer

• how he trusted his gut over family and shareholder advice

ABOUT US:

Primary is the largest early-stage venture firm in the world, with over $1B in Assets Under Management, and notable investments under its belt include unicorns like Slice, Chief, Electric, and more.

With a dedicated team of Partners, Associates, and Advisors, Primary operates with one clear modus operandi: to allocate unreasonable resources toward building unfair advantages.

Follow us on LinkedIn:

• Scott Rechler

• Jason Shuman
• Primary Venture Partners

(00:00:00) Trailer

(00:00:45) Introduction

(00:01:00) Founder Drift

(00:03:00) Focus

(00:06:50) The template and the process

(00:09:16) Investors and firm builders

(00:12:09) Entrepreneurial mindset

(00:15:31) Understanding business intricacies

(00:19:58) Engagement strategy

(00:23:10) IPO insights and decisions

(00:30:28) Public vs Private

(00:33:27) Highly efficient private market

(00:36:12) The January 7 acquisition

(00:40:57) Secession planning

(00:43:25) Starting RXR a day later

(00:45:27) Self-funding 150 employees

(00:47:03) A blank piece of paper

(00:48:51) Recession

(00:53:56) Sam's story

(00:57:02) Maintaining conviction

(00:59:18) Expanding beyond familiar markets

(01:05:41) New York

(01:07:56) RXR Involvement and startup insights

(01:12:33) Qualities of startup founders

(01:16:29) Mayor of New York

(01:17:45) Outro