One of the questions that I'm asked most frequently from young, aspiring entrepreneurs is how to think about the merits and risks of leaving a traditional career path (often a lucrative one) to pursue something more entrepreneurial. To help me explore this question in considerable depth, I was joined this week by Ronnen Harary, the Co-Founder and Chairman of Spin Master Toys, the fourth-largest toy company in the world behind only Lego, Mattel, and Hasbro. Alongside his business partners, Ronnen co-founded Spin Master in 1994 and eventually transformed it from a three-person startup into a publicly traded company with a market capitalization of ~$2B, generating ~$2.3B in annual revenue. In our conversation today, we talk about the four major themes that stuck out to me from Ronnen’s career: 1. The magic of youth, inexperience and how that frames how we ought to think about taking risks earlier in our lives and careers 2. Tail events: The impact of a small number of outcomes that generate a disproportionate share of results 3. Relationships between business partners: How he thinks about what makes for a great partnership (and what makes for a bad one) 4. Once you've accomplished your wildest dreams, what happens to your relationship with risk and ambition? Link: redacted