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Hidden Value Gems
My latest Investments Notes are out.
Flagging Kering and Prosus stock ideas and some additional commentary on markets👇🏼
$KER.PA $PROSY
Link in bio and reply https://t.co/3gwlzvIQTx
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My latest Investments Notes are out.
Flagging Kering and Prosus stock ideas and some additional commentary on markets👇🏼
$KER.PA $PROSY
Link in bio and reply https://t.co/3gwlzvIQTx
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Offshore
Video
Startup Archive
Keith Rabois on how to identify great talent
“What you want to do with every single employee every single day is expand the scope of their responsibilities until it breaks… and that’s the role they should stay in.”
Keith tells the story of giving an intern the task of getting smoothies to arrive at the office at 9pm to reward Square’s engineering team. And once the intern proved they could solve this task that had stumped multiple people at the company, he gave them something more important and consequential to do.
Everybody has some level of complexity that they can handle, and you want to keep expanding their responsibility until you see where it breaks—as Keith points out, some people will surprise you:
“There will be some people who you don’t expect—with different backgrounds, without a lot of experience—who can just handle enormously complicated tasks. So keep testing that and pushing the envelope.”
Keith also argues that you should monitor who is going up to other people's desks. If you see people frequently going up to a person's desk, it's a sign that that person can help them. Promote these people and give them more responsibility as fast as you can.
Video source: @ycombinator (2014)
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Keith Rabois on how to identify great talent
“What you want to do with every single employee every single day is expand the scope of their responsibilities until it breaks… and that’s the role they should stay in.”
Keith tells the story of giving an intern the task of getting smoothies to arrive at the office at 9pm to reward Square’s engineering team. And once the intern proved they could solve this task that had stumped multiple people at the company, he gave them something more important and consequential to do.
Everybody has some level of complexity that they can handle, and you want to keep expanding their responsibility until you see where it breaks—as Keith points out, some people will surprise you:
“There will be some people who you don’t expect—with different backgrounds, without a lot of experience—who can just handle enormously complicated tasks. So keep testing that and pushing the envelope.”
Keith also argues that you should monitor who is going up to other people's desks. If you see people frequently going up to a person's desk, it's a sign that that person can help them. Promote these people and give them more responsibility as fast as you can.
Video source: @ycombinator (2014)
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Investing visuals
Place your bets: who will outperform in 2025, Celcius $CELH or Monster $MNST?🥤 https://t.co/gybfV8X3iN
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Place your bets: who will outperform in 2025, Celcius $CELH or Monster $MNST?🥤 https://t.co/gybfV8X3iN
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Stock Analysis Compilation
Baron Real Estate Fund on Caesars Entertainment $CZR US
Thesis: Caesars Entertainment, Inc. is a highly discounted casino-entertainment company with strong long-term growth prospects and an optimistic outlook for Las Vegas and its online betting operations.
(Extract from their Q3 letter)
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Baron Real Estate Fund on Caesars Entertainment $CZR US
Thesis: Caesars Entertainment, Inc. is a highly discounted casino-entertainment company with strong long-term growth prospects and an optimistic outlook for Las Vegas and its online betting operations.
(Extract from their Q3 letter)
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Startup Archive
RT @foundertribune: "Real VCs help build great companies" by Don Valentine https://t.co/6So1Irn9Bl
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RT @foundertribune: "Real VCs help build great companies" by Don Valentine https://t.co/6So1Irn9Bl
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Startup Archive
Sequoia founder Don Valentine on the original mission of venture capital:
"Back in the early days of the '70s, the "mission statement" for the evolving venture industry was that we were company builders, and, on occasion, industry creators... We expected to spend 10 or more years on the boards of the young companies in which we invested, actively helping them grow."
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Sequoia founder Don Valentine on the original mission of venture capital:
"Back in the early days of the '70s, the "mission statement" for the evolving venture industry was that we were company builders, and, on occasion, industry creators... We expected to spend 10 or more years on the boards of the young companies in which we invested, actively helping them grow."
"Real VCs help build great companies" by Don Valentine https://t.co/6So1Irn9Bl tweet
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Dimitry Nakhla | Babylon Capital®
📈 $COST Stock Surge: More Than Just EPS
$COST stock soared +215% in the last 5 years
The catch:
🔹Multiple Expansion: $COST P/E jumped from 33.80x to 50.77x, a 50% increase in multiple
🔹EPS Growth: EPS have nearly doubled, indicating that multiple expansion has been a big driver behind $COST share price appreciation
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📈 $COST Stock Surge: More Than Just EPS
$COST stock soared +215% in the last 5 years
The catch:
🔹Multiple Expansion: $COST P/E jumped from 33.80x to 50.77x, a 50% increase in multiple
🔹EPS Growth: EPS have nearly doubled, indicating that multiple expansion has been a big driver behind $COST share price appreciation
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Dimitry Nakhla | Babylon Capital®
Bullish AI Trends & $TMO 🧬
1. Biotech Boom - AI breakthroughs driving demand for $TMO cutting-edge equipment like next gen sequencing machines & chromatography systems🔬
2. Efficiency - AI optimizing manufacturing, slashing costs, boosting profits📈
3. Increased demand + pricing power = accelerated revenue growth🚀
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Bullish AI Trends & $TMO 🧬
1. Biotech Boom - AI breakthroughs driving demand for $TMO cutting-edge equipment like next gen sequencing machines & chromatography systems🔬
2. Efficiency - AI optimizing manufacturing, slashing costs, boosting profits📈
3. Increased demand + pricing power = accelerated revenue growth🚀
Two months ago I stated:
“I’d be more interested in $TMO closer to $500💵 (8% below today’s price) where I can reasonably expect ~11% to ~12% CAGR while assuming a 23x - 24x end multiple, ensuring a margin of safety”
$TMO traded at my target price for less than 24 hours 📈 https://t.co/r2awaMkY7L tweet
Offshore
Video
Startup Archive
Why Larry Page said he’d leave his money to Elon Musk if he got hit by a bus
In this panel with Elon Musk, venture capitalist Steve Jurvetson tells a story of Google cofounder Larry Page saying he should leave all of his money to Elon Musk:
“I could give my money to a nonprofit and a lot less would get done than a corporation that’s pursuing things that are directly aligned with things I care about, like getting off of oil and colonizing other planets.”
Page believes in those missions and thinks that “a corporation endowed with the right to do that as its business purpose is the best vehicle out there.”
Jurvetson contrasts this with the approach of Bill Gates who spent the first half of his life building a gigantic for-profit company and the second half working with non-profits.
A “purpose-driven business” could offer the best of both worlds.
In fact, Jurvetson shares that the best-performing startups in his venture portfolio often have compelling missions. And it aligns well with Sam Altman’s advice that it’s easier to start a hard company than an easy company:
“The most precious commodity in the startup ecosystem right now is talented people, and for the most part, talented people want to work on something they find meaningful… An easy startup is a headwind; a hard startup is a tailwind. If people care about your success because you seem committed to doing something significant, it’s a background force helping you with hiring, advice, partnerships, fundraising, etc.”
Video source: @StanfordGSB (2013)
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Why Larry Page said he’d leave his money to Elon Musk if he got hit by a bus
In this panel with Elon Musk, venture capitalist Steve Jurvetson tells a story of Google cofounder Larry Page saying he should leave all of his money to Elon Musk:
“I could give my money to a nonprofit and a lot less would get done than a corporation that’s pursuing things that are directly aligned with things I care about, like getting off of oil and colonizing other planets.”
Page believes in those missions and thinks that “a corporation endowed with the right to do that as its business purpose is the best vehicle out there.”
Jurvetson contrasts this with the approach of Bill Gates who spent the first half of his life building a gigantic for-profit company and the second half working with non-profits.
A “purpose-driven business” could offer the best of both worlds.
In fact, Jurvetson shares that the best-performing startups in his venture portfolio often have compelling missions. And it aligns well with Sam Altman’s advice that it’s easier to start a hard company than an easy company:
“The most precious commodity in the startup ecosystem right now is talented people, and for the most part, talented people want to work on something they find meaningful… An easy startup is a headwind; a hard startup is a tailwind. If people care about your success because you seem committed to doing something significant, it’s a background force helping you with hiring, advice, partnerships, fundraising, etc.”
Video source: @StanfordGSB (2013)
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