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Partnerships in business can greatly benefit a company, but they require careful organization and management to succeed. The speaker highlights that the most enjoyable and rapidly growing companies they've started involved partners, regardless of the equity split, treating all partners as equals. Collaboration towards a mutual goal leads to quick achievements. However, the speaker emphasizes the importance of establishing basic rules to maintain a strong partnership. They also share that they've experienced costly lessons from two partnerships that they learned from and advise others to benefit from these experiences rather than facing similar challenges themselves.
