This is Part I of the episode where we talk about private equity investing with Brent Beshore, the CEO of Permanent Equity.  Brent's firm Permanent Equity is quite different from most private equity investors in the market: instead of buying a company and then selling it to the highest bidder within a few years for a quick return, Brent's investors have a long initial 30 years lockup period.  Everyone is in this for the long term.  What kind of business does Brent like to buy?  Underappreciated and underserved, stable growth (interestingly, not a rapidly growing company because too rapid of growth actually creates a lot of scaling issues), heavy cash flow, and capacity for reinvestment.  Brent then talked about how a business should prepare to sell itself.  He pointed out that owning a well-run business is ALWAYS more profitable than selling it.  So if you are selling the business because you think this is the way to get richer, you are wrong.  Brent summed it up brilliantly: the best route is to get rich slowly, over a very long period of time!