Matthew Giampetroni
@matthewgiampetroni
Matthew Giampetroni
@matthewgiampetroni
Cash deals do better, on average, than deals funded with equity or a combination of cash and equity.36 The basic idea is that management of the buyer will finance a deal with cash if it thinks the stock of its company is undervalued and will use stock if it thinks it is overvalued. Cash deals also provide a higher payoff for the shareholders of the
... See morethe best stories to tell are the ones that have been told over and over again, and the stories of competitive mimesis and of deification followed by scapegoating are the oldest and best of all
narratives and
As a founder, the most valuable optionality you have is the equity you haven’t sold, and the dilution you haven’t taken. But the second most valuable optionality you can have is a valuation that’s not too high.
Bernard himself continuously expresses that ‘creating desire’ is the most important part of what they are doing at LVMH