“I’ll take human behavior for 50, Alex.” “The answer is, ‘Objective, disciplined and patient.’” “What is, ‘What we’re not?’” “Correctamundo.” Being successful in life isn’t rocket science. And yet, it eludes most of us. Successful investors are objective, disciplined and patient. Which is precisely why I leave my investments to[…] Read On
According to CNBC, we should all be bummed that Silicon Valley DJs, comedians, acrobats and event planners are losing gigs due to coronavirus. Here’s what I’m thinking. The Valley has been flush with cash for this ridiculously long bull market run and unprecedented private equity boom. Or bubble. You say[…] Read On
I’m struggling to wrap my head around Nasdaq 9,300 – nearly twice the dot-com bubble peak – Apple’s $1.4 trillion market cap, and the notion that the combined value of five west coast companies is higher than the GDP of every country in the world but the U.S. and China.[…] Read On
I’ve resisted watching HBO’s Silicon Valley for years. Another cynic’s view of what Silly Valley has become in the latest bubble seemed too depressing to watch. And make no mistake, we are in a bubble. Not just private equity — ideology too. Having gone through the dot-com bubble, way too[…] Read On
Marc Andreessen’s 2011 essay “Why Software Is Eating the World” opened our eyes to a growing trend, that tech companies are disrupting age-old industries and creating high-growth markets seemingly out of thin air or, more precisely, out of computer code. The Silicon Valley venture capitalist cited several innovative companies[…] Read On
“Sometimes you gotta say ‘What the f***.’” – Miles, Risky Business I’ve made some risky bets in my time, but risking $20 billion and 10 years in prison are just a little bit outside my comfort zone. The feds have slapped new bribery charges on top of several existing conspiracy[…] Read On
From Wall Street to Silicon Valley, everybody’s trying to figure out what’s wrong with this year’s crappy unicorn IPO class. Uber, Lyft, Peloton, Slack, Pinterest – they’ve all underperformed post-IPO. WeWork couldn’t even get off the ground with that loony $47 billion valuation, finally ousting CEO Adam Neumann and pulling[…] Read On