Sublime

doubled the business coming off of the previous round’s valuation and capital resources; they expected more.

Streamlining the supply chain to offer better value on a better product is gangster. Today, their company, Brooklinen, is profitable, and sold to Summit Partners in March at a multiple of revenues—rare for retail. Nice sheets, too.

People always accused us of selling dollar bills for ninety cents, and said, “Look, anybody can do that and grow revenue.” That’s not what we were doing. We always had positive gross margins. It’s a fixed-cost business. What I could see from the internal metrics was that at a certain volume level, we would cover our fixed costs and the company woul

hour trading around the globe, Medallion could make far more money than a venture capitalist without knowing any details about the technologies and business plans behind the equities, currencies, or securities traded. This is the financial counterpart of Markov models at Google translating languages with no knowledge of them.

The new hires took advantage of Xerox’s abundant resources and loose oversight to creatively interpret Goldman’s definition of “data processing technology,” pursuing projects inspired by Doug Engelbart’s ideas about augmented intelligence and by hacker culture more generally. Engelbart’s SRI operation had drifted after the great demo—investors coul

Private equities—Stocks that do not trade on public exchanges but are instead managed by funds that transact in privately held companies.