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The speaker discusses the importance of working with partners in business, emphasizing the need to protect oneself through written agreements. They recount recent experiences with two students who faced challenges in their partnerships—one involving an arrangement between two members of an owner forum, and the other between a forum member and someone met at a boot camp. The speaker underscores the significance of asking fundamental questions, such as whether there are documented agreements in place and how the individuals know each other. This approach helps to clarify the stability and reliability of the partnership before proceeding with any deals.