Max Beauroyre

So the companies sit still. They can't go public. They can't be acquired at reasonable prices. They continue to operate, even profitably, generating real value. But the value cannot be converted to cash and returned to limited partners under a traditional venture model.

my entire investment thesis is that startups have the opportunity to overtake sclerotic incumbents with vertically integrated offerings that are better, cheaper, faster and higher-margin.

Around 20 to 25 percent of the readers, the heavy readers, account for 80 percent of the revenue pool of the industry of what consumers spend on books. It’s the really dedicated readers. If they got all-access, the revenue pool of the industry is going to be very small.

This is how I think about love, too. It is a craft

Finance is the nervous system of the company. Everything that a business does flows through finance in some way, and no department has a better bird’s-eye view into how the company operates.

The data that the finance team has is extremely valuable for AI. The data generated by financial transactions - what companies are buying, how much they're... See more

The people who'd like to be boss of their company, to sit back in that comfortable chair with a lovely golden parachute—most of them couldn't make it. If you try to drop executive responsibility on someone who lacks executive-nature—on the theory that most people can do it if given the chance—then they'll melt and catch fire.

He sees the hunger people have for a wisdom and nourishing that algorithms and devices don’t provide—but the humanities can. This is the real crisis in humanities, and it’s reached a boiling point.

I don’t travel as extensively as Dana, but I hear the exact same thing in my online dealings with people. They want something that the tech can’t... See more

I find that I am the most anxious and uneasy when I am not honest with myself, when I am yearning for a certain (external) metric of success.