Matthew Giampetroni
@matthewgiampetroni
Matthew Giampetroni
@matthewgiampetroni
Great capital allocators always have a sense of the difference between price and value in all of their businesses. And, as important, they are willing to act to build value when those gaps become large enough to overcome frictions such as taxes and fees.
Most people are rather confident of their ability to recognize bullshit and to avoid being taken in by it

Speculative investment, with ambitious but inexact expectations of financial return, is important fuel for founders who build the unknown future. However, investors and operators are often deeply misaligned: investors think in bets, while operators think in consequences. The relationship is tense, but can be explosively productive.
in a world with infinite information and opportunity, you don’t grow by knowing or doing more , you grow by the ability to correctly focus on less