Was at Canaveral this AM... total bummer.
52 karma · joined August 24, 2012
This slide deck is very basic.
I went to Princeton, and the degree paid for itself in 2 years
https://www.google.com/finance?q=LON:FGP
Give the Uber guys credit.
They have convinced baby boomers with money (TPG, and the other VC/PE firms), that "this time is different". Let the Uber founders take some money off the table.
I saw this with social media a few years ago, when RenRen and Groupon and Zynga IPO'd. It was remarkable.
I am in the hedge fund industry, so I see this first hand.
The media loves the "2&20" phrase, but fund managers now proffer lower and lower management fees in order to close funds.
Most of the top hedge funds charge 1.50% today, and newer funds bear lower management fees.
Think about it.
No management fees are being charged; only performance fees.
I'm not in the VC business, but there are a lot of investors who are going to be very, very hurt in the next couple years once consumer technology valuations crash. On the other hand, this move may let the party last a bit longer.
Too many people are chasing companies believing the investment will lead to a 10x or 100x return. But, investing in unprofitable businesses is quite different than publicly traded investments and private equity investments.