Warren Buffett said when Howard Marks drops a new memo it's the first thing he reads. I do the same when @JohnHuber72 publishes a new report. Here are some quotes from his most recent, but make sure you read his thoughts on Walter Schloss who did 21% annualized over 50 years https://t.co/DOdTLzMxRb
Matt Levine: "If you are a young startup raising a seed investment round, you can have a 6-year-old write your financial statements on a napkin and hand the napkin to potential investors and it’s fine." https://t.co/XbWCpVx29p
The biggest pushback here is that returns/investment weren’t accounted for. While this is important for investors I showed the graph for *founders*.
When building companies, platforms increase the perception to reality ratio, gives more shots on goal and increases company chance of success.
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