Matthew Giampetroni

Capital allocation should support a company’s strategic goals. Capital allocation should start with an assessment and approval of strategies and then determine which projects support the strategies.

Start-ups of any kind are awash in ambiguity. It’s the founder’s responsibility to hold that ambiguity for everyone, which is often a lonely job.

For the bullshitter, however, all these bets are off: he is neither on the side of the true nor on the side of the false. His eye is not on the facts at all, as the eyes of the honest man and of the liar are, except insofar as they may be pertinent to his interest in getting away with what he says. He does not care whether the things he says

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.

A pseudosecret is a narrative about a next-order effect within your company its path towards world domination, and the future you believe in. It’s not the most obvious narrative, but is often the most important.

as the bubble grows, it becomes an increasingly pure bet on a revolution

Bernard himself continuously expresses that ‘creating desire’ is the most important part of what they are doing at LVMH