Matthew Giampetroni
@matthewgiampetroni
Venture Capitalist at Velvet Sea Ventures
Matthew Giampetroni
Wealth is the fundamental thing. Wealth is stuff we want: food, clothes, houses, cars, gadgets, travel to interesting places, and so on. You can have wealth without having money.
Paul Graham • How to Make Wealth
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?
Who wants transparency when you can have magic. Who wants prose when you can have poetry?
Eugene Wei • Smoke and Mirrors — Remains of the Day
Bernard himself continuously expresses that ‘creating desire’ is the most important part of what they are doing at LVMH
Punch Card Investor • LVMH and the Luxury Strategy
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.
Alex Danco • Debt is Coming
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
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.
Alex Danco • Debt is Coming
In the very early-stages of a company, especially during a fundraise, narratives rule everything and pseudosecrets are the dominant way to build a narrative.