Offshore
Photo
Stock Analysis Compilation
Aristotle on Diageo $DGE LN
Thesis: Diageo’s strong portfolio of premium spirits, global market reach, and M&A strategy position it for long-term growth, with catalysts including premiumization trends and emerging market expansion
(Extract from their Q3 letter) https://t.co/4NJoWHsqq6
tweet
Aristotle on Diageo $DGE LN
Thesis: Diageo’s strong portfolio of premium spirits, global market reach, and M&A strategy position it for long-term growth, with catalysts including premiumization trends and emerging market expansion
(Extract from their Q3 letter) https://t.co/4NJoWHsqq6
tweet
Offshore
Photo
Investing visuals
The Nasdaq $QQQ has delivered 19% annual returns over the past 5 years. Here's everything you need to know👇 https://t.co/Y8IPqDhHet
tweet
The Nasdaq $QQQ has delivered 19% annual returns over the past 5 years. Here's everything you need to know👇 https://t.co/Y8IPqDhHet
tweet
Offshore
Video
Startup Archive
RT @elonmusk: Couldn’t agree more
tweet
RT @elonmusk: Couldn’t agree more
Steve Jobs on the most important job of a CEO
“The greatest people are self-managing. They don’t need to be managed. Once they know what to do, they’ll go figure out how to do it… What they need is a common vision, and that’s what leadership is. Leadership is having a vision, being able to articulate that so the people around you can understand it, and getting consensus on a common vision.”
Steve continues:
“We wanted people who were insanely great at what they did… and the neatest thing that happens when you get a core group ten great people is that it becomes self-policing as to who they let into that group. So I consider the most important job of someone like myself is recruiting.” tweet
Offshore
Video
Startup Archive
Elon Musk on how choosing the wrong VC almost killed Tesla
"If you have a choice of a lower valuation with someone you really like or a higher valuation with someone you have a question mark about, take the lower valuation."
Elon tells part of the story of how he got this wrong when Tesla raised its Series C in 2006.
He was choosing between two competing bids from Kleiner Perkins and VantagePoint.
Kleiner offered a $50 million pre-money valuation. VantagePoint offered $70 million.
Musk told Kleiner that if John Doerr joined the board, Tesla would do it at $50 million. However, John had too many other obligations at the time and couldn't commit to another board seat.
Tesla ended up going with VantagePoint, which Musk says, "was probably a mistake".
In November 2007, VantagePoint tried to lead a deal that would have seriously diluted Musk's control of the company.
That attempt ended up failing. But a year later, VantagePoint almost blocked the deal that saved the company from bankruptcy.
In December 2008, Musk needed to raise $40M. One week from running out of money and bouncing payroll, Musk managed to cobble together $20M and asked Tesla's other investors to match it. They agreed, but Musk noticed a problem while finalizing the paperwork. VantagePoint had signed all of the paperwork except for one crucial page. When Musk phoned up Alan Salzman, VantagePoint's cofounder and managing partner, Salzman informed Musk that the firm had a problem with the investment round because it undervalued Tesla. They then backed out of the deal.
Musk believed that Salzman's tactics were part of a mission to bankrupt Tesla, oust him as CEO, recapitalize Tesla, and emerge as the major owner of the carmaker.
This forced Musk to take another huge risk: Tesla recharacterized the funding as a debt round rather than an equity round, knowing that VantagePoint could not interfere with a debt deal.
The deal ended up closing on Christmas Eve, hours before Tesla would have gone bankrupt. Musk had just a few hundred thousand dollars left and could not have made payroll the next day. Musk ultimately put in $12M personally, and the investment firms put up the rest. As for Salzman, Musk said, "He should be ashamed of himself."
Musk compares choosing a VC to getting married. It's incredibly important to work with people you respect and trust. Valuation shouldn't be the only thing founders optimize for.
Video source: @PandoDaily (2012)
tweet
Elon Musk on how choosing the wrong VC almost killed Tesla
"If you have a choice of a lower valuation with someone you really like or a higher valuation with someone you have a question mark about, take the lower valuation."
Elon tells part of the story of how he got this wrong when Tesla raised its Series C in 2006.
He was choosing between two competing bids from Kleiner Perkins and VantagePoint.
Kleiner offered a $50 million pre-money valuation. VantagePoint offered $70 million.
Musk told Kleiner that if John Doerr joined the board, Tesla would do it at $50 million. However, John had too many other obligations at the time and couldn't commit to another board seat.
Tesla ended up going with VantagePoint, which Musk says, "was probably a mistake".
In November 2007, VantagePoint tried to lead a deal that would have seriously diluted Musk's control of the company.
That attempt ended up failing. But a year later, VantagePoint almost blocked the deal that saved the company from bankruptcy.
In December 2008, Musk needed to raise $40M. One week from running out of money and bouncing payroll, Musk managed to cobble together $20M and asked Tesla's other investors to match it. They agreed, but Musk noticed a problem while finalizing the paperwork. VantagePoint had signed all of the paperwork except for one crucial page. When Musk phoned up Alan Salzman, VantagePoint's cofounder and managing partner, Salzman informed Musk that the firm had a problem with the investment round because it undervalued Tesla. They then backed out of the deal.
Musk believed that Salzman's tactics were part of a mission to bankrupt Tesla, oust him as CEO, recapitalize Tesla, and emerge as the major owner of the carmaker.
This forced Musk to take another huge risk: Tesla recharacterized the funding as a debt round rather than an equity round, knowing that VantagePoint could not interfere with a debt deal.
The deal ended up closing on Christmas Eve, hours before Tesla would have gone bankrupt. Musk had just a few hundred thousand dollars left and could not have made payroll the next day. Musk ultimately put in $12M personally, and the investment firms put up the rest. As for Salzman, Musk said, "He should be ashamed of himself."
Musk compares choosing a VC to getting married. It's incredibly important to work with people you respect and trust. Valuation shouldn't be the only thing founders optimize for.
Video source: @PandoDaily (2012)
tweet
Offshore
Photo
Stock Analysis Compilation
Conestoga on Mama’s Creations $MAMA US
Thesis: Mama’s Creations is well-positioned to capitalize on the booming deli foods market, with double-digit growth, improved margins, and a strong leadership team driving expansion.
(Extract from their Q3 letter) https://t.co/0iqRCqMzSj
tweet
Conestoga on Mama’s Creations $MAMA US
Thesis: Mama’s Creations is well-positioned to capitalize on the booming deli foods market, with double-digit growth, improved margins, and a strong leadership team driving expansion.
(Extract from their Q3 letter) https://t.co/0iqRCqMzSj
tweet
Offshore
Photo
Startup Archive
RT @foundertribune: "Blaming is the #1 enemy in destroying leadership" by John D. Rockefeller https://t.co/JlTqOYHOcz
tweet
RT @foundertribune: "Blaming is the #1 enemy in destroying leadership" by John D. Rockefeller https://t.co/JlTqOYHOcz
tweet
Offshore
Photo
Stock Analysis Compilation
Harding Loevner on Applied Material $AMAT
Thesis: AMAT is positioned to capture growth in advanced semiconductor packaging, a critical shift as traditional transistor scaling nears its limits, offering strong potential at an attractive valuation.
(Extract from their Q3 letter) https://t.co/W97vLFXZIt
tweet
Harding Loevner on Applied Material $AMAT
Thesis: AMAT is positioned to capture growth in advanced semiconductor packaging, a critical shift as traditional transistor scaling nears its limits, offering strong potential at an attractive valuation.
(Extract from their Q3 letter) https://t.co/W97vLFXZIt
tweet
Offshore
Photo
Startup Archive
JD Rockefeller on the importance of a culture without blame/excuses:
"The habit of blaming is like a swamp. Once you stumble and fall into it, you will lose your footing and direction, you will become unable to move and then fall into the predicament of hatred and frustration"
tweet
JD Rockefeller on the importance of a culture without blame/excuses:
"The habit of blaming is like a swamp. Once you stumble and fall into it, you will lose your footing and direction, you will become unable to move and then fall into the predicament of hatred and frustration"
"Blaming is the #1 enemy in destroying leadership" by John D. Rockefeller https://t.co/JlTqOYHOcz tweet
Offshore
Video
Startup Archive
RT @elonmusk: Couldn’t agree more
tweet
RT @elonmusk: Couldn’t agree more
Steve Jobs on the most important job of a CEO
“The greatest people are self-managing. They don’t need to be managed. Once they know what to do, they’ll go figure out how to do it… What they need is a common vision, and that’s what leadership is. Leadership is having a vision, being able to articulate that so the people around you can understand it, and getting consensus on a common vision.”
Steve continues:
“We wanted people who were insanely great at what they did… and the neatest thing that happens when you get a core group ten great people is that it becomes self-policing as to who they let into that group. So I consider the most important job of someone like myself is recruiting.” tweet