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The speaker discusses the importance of collaborating with partners and taking precautions in business relationships. They share experiences from two students who encountered issues while forming partnerships. One case involved two members of an owner forum trying to collaborate on a deal, while the other involved a partnership formed at a boot camp that sought to engage with another person's deal. The speaker emphasizes the necessity of having written agreements and understanding each partner's role and responsibilities, urging listeners to ask crucial questions about their business arrangements to protect themselves.