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Friend in venture: “I think half of the mania in venture growth is explained by young deal makers who want to just jam shit in the portfolio and make a name for themselves. There’s a nice good business that’s single digit ARR, 3x’ing this year, and ahead of plan. But principals and junior partners at many firms are... See more

Gokul Rajaram x.com

We used to have a thing that any time Goldman recommended a stock, I would sell it, and every time they recommended a sell, I would buy it. I knew if they put out a sell, they wanted it to go down so they could buy it, and I knew if they recommended a buy, it was going to go down because they wanted to sell. And it practically always worked. And

Allen C. Benello • Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors

I’M UP 8.2 MILLION TODAY! WHERE ARE ALL THE PEOPLE IN MY MENTIONS NOW! https://t.co/8v5jKMVzII

Dave Portnoy x.com

This Jane St thing is big. It ~10% of their $20b in 2024 revenue. Is it true? Was it all market manipulation? How did they allow it? I can't remember any Jane bad PR. Next moves is critical. Jane Street’s Cash Machine Comes to an Abrupt Halt in India https://t.co/zIK2XgwE1f?

Larry Tabb x.com

Figma just left $2.3 BILLION on the table -- nearly double what they actually raised. IPO'd at $33. Target open at $95. That's not "market excitement". It's deliberate underpricing and legalized theft by investment banks who sold it cheap to their institutional buddies. Retail shoves in at... See more

John Wang x.com

I kinda want to do a low level flyover down Sand Hill Road and break windows at every VC who said a startup can’t build supersonic jets. But that would be irresponsible.

Blake Scholl 🛫x.com

there couldn’t be many other cases in human history of a person his age tossing around dollars in the amounts he was tossing them without much adult supervision, or the usual constraints of corporate life. A board of directors, for instance. “It’s unclear if we even have to have an actual board of directors,” said Sam, “but we get suspicious

Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon

The company is an OPM addict, borrowing debt or selling stock to raise boatloads of Other People’s Money.

Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)

#JPM23 Hallway conversations: Valuations are down, but few think things are going to get much worse in public markets. Lots of down rounds to work through for private companies that need to finance in ‘23. Even more pain for venture GPs raising new funds this year. (1/3)

Antoun Nabhan x.com