Fourth Criterion: Being Down

Shaan Puri adds a fourth criterion to Warren Buffett's partner selection framework. Beyond energy, intelligence, and integrity, the best partners need to be "down."

Buffett's three-legged stool

• Energy - The drive and stamina to execute
• Intelligence - The mental capacity to solve problems
• Integrity - The moral foundation to be trustworthy
• All three are required - missing any one makes the stool fall over
  • Energy + Intelligence without Integrity = smart crook
  • Energy + Integrity without Intelligence = won't get anywhere

The fourth leg: Being "down"

• This is the highest priority bit - everything else is secondary
• "Down" encompasses multiple dimensions:

Down to try things

• Will take a half-baked idea and give it a shot
• Don't need everything figured out before starting
• Open to experimentation and uncertainty

Down for adventure

• When choosing between safe path or interesting story path, they lean toward the story
• Willing to take risks for the experience
• Value the journey over guaranteed outcomes

Down to buckle down and grind

• Won't run away from pain or difficulty
• Can handle intense periods of hard work
• Willing to do something challenging for extended periods

Down for you

• Fundamentally committed to the partnership
• "Having somebody who's down for me"
• This loyalty and commitment is the foundation

Real example: Ben

• Had a SaaS business doing $1M/year in profit
• Was "down" enough to leave that for a random side project
• Agreed to spend time on something unknown and unfigured out
• Committed to 90 days of really intense work
• Has done 5-7 different projects together
• Every single one has been fun and worked
• Been a pleasure to work with throughout

Why "down" matters

• Great things come from being around people who are down
• Enables taking on ambitious, uncertain projects
• Creates partnerships that can pivot and adapt
• Makes the work enjoyable even when it's hard