Matthew Giampetroni
@matthewgiampetroni
Venture Capitalist at Velvet Sea Ventures
Matthew Giampetroni
M&A is by far the largest source of redistribution of corporate resources among the capital allocation alternatives. M&A deals in 2021 totaled nearly $2.6 trillion, or 13.5 percent of sales. The chart shows that M&A tends to be cyclical. Early movers tend to do better than companies that buy later in the cycle.
Dan Callahan • Capital Allocation
Startups offer anyone a way to be in a situation with measurement and leverage.
Paul Graham • How to Make Wealth
the people around you will either protect or infringe on the climate within your skull.
Graham Duncan Blog • Letter to a Friend Who May Start a New Investment Platform
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.
Dan Callahan • Capital Allocation
investing wisdom and
“It’s frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what’s going on.” -Amos Tversky
Howard Marks • Attention Required! | Cloudflare
you demonstrated excellent curation ability, and that’s a high-status thing to have
Alex Danco • Positional Scarcity
In an ideal world, corporate executives would allocate capital to maximize long-term value per share. But, for reasons that are mostly understandable, there’s a lot of evidence that they fall short of this objective
Dan Callahan • Capital Allocation
For the “I don’t know” school, on the other hand, the word – especially when dealing with the macro-future – is “guarded.” Its adherents generally believe you can’t know the future; you don’t have to know the future; and the proper goal is to do the best possible job of investing in the absence of that knowledge.