Matthew Giampetroni
@matthewgiampetroni
Venture Capitalist at Velvet Sea Ventures
Matthew Giampetroni
“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
There is a large random factor in the success of any company. So the guys you end up reading about in the papers are the ones who are very smart, totally dedicated, and win the lottery.
Paul Graham • How to Make Wealth
markets cannot be perfectly efficient because there is a cost to gathering information and reflecting it in asset prices and therefore there must be a proportionate benefit in the form of excess returns
Michael Mauboussin • Who Is On the Other Side?
A more suitable mindset is that capital is accessible but comes at a cost...
many executives act as if the cash that the business generates is essentially free. The right mindset is that all capital, whether from an internal or external source, has an opportunity cost.
Dan Callahan • Capital Allocation
The last round is not the permanent price, and being private does not mean you get a free pass on scrutiny.
Bill Gurley • On the Road to Recap: | Above the Crowd
If you buy or sell a security and expect an excess return, you should have a good answer to the question “Who is on the other side?” In effect, you are specifying the source of your advantage, or edge.
Michael Mauboussin • Who Is On the Other Side?
On Bullshit
The document discusses the nature and prevalence of bullshit, distinguishing it from lying and exploring its connection to skepticism and the pursuit of personal sincerity.
www2.csudh.eduOnce we believe something, the mistakes we make often serve to preserve our view
Michael Mauboussin • Who Is On the Other Side?
Capital allocation is ultimately about assessing opportunities and executing on the ones that are attractive. As such, it requires a willingness to be a buyer or a seller given the circumstances.