toon retweeted
imagine you just sold your company for life changing money against the odds, enriching all in your orbit and validating years of massive risk and intense focus, and your lead vc is tone deaf enough to tweet this out
A company in my portfolio just sold for 11.6x what I put in.
I wasn't happy about it.
That sounds insane, so let me explain how this actually works...
I run a pre-seed fund. I'll back 40 companies knowing most of them won't return real money. The math only works if a couple of them go enormous.
An 11x exit gets the money back and a little more.
For Seed VC funds, that barely moves the needle.
#VC #VentureCapital
BREAKING: Abnormal increase in user activity is causing interruptions in Tradingview's UI due to everybody watching their networths tank in real time
toon retweeted
Redeemer Health filed for Chapter 11 after years of hospital and physician network losses, increased competition, and missed bond payments, seeking a going-concern sale of Holy Redeemer Hospital and its physician network while preserving its post-acute and life care operations.
Case Summary: bondoro.com/redeemer-health/
$LPTH
As of this morning, LightPath won a 50,000+ optical assemblies order for military drone cameras and added automation/capacity to handle these types of large orders.
Good continued proof that they can continue to win and handle larger orders. IMO market is waiting for Nov 10 results (gross margins of 35%+ and $120M backlog estimates). Important that margins continue to grow and they become profitable / can begin funding growth themselves rather than continued dilution, although this order will likely not be included in the Nov report (likely Q2 backlog)
Still around $500M MC- revenue nearly doubled last year (Assemblies grew from 23% to 44% of revenue), ~110m backlog as of now, and continued proof of increasing order size/demand for their products from defense contractors (Lockheed, Raytheon, etc)
Last earnings call we learned Homeland Security funding goes to the large contractors first and hasn’t yet turned into orders for LPTH. Will be interesting to see how this progresses
Entry: 7.79 - I consider this a high-risk name relative to my typical investments. Size is relatively small - will cut if acceptance below 6.9
toon retweeted
the more people you consult for advice, the more likely you’ll make a bad/average decision.
(1) ppl are, on average, risk averse...and, in quantity, will blunt your boldness.
(2) ppl may hate/envy opportunities they lack.
(3) ppl tend to mix cynicism (bad) w/ criticism (good)
toon retweeted
Disagree. Our job as VCs is to generate returns, we are capitalists at the end of the day.
Sometimes it means having a world-view that others don't see, many times it means competing and having something unique that founders want on their cap table.
Alpha in choosing, or alpha in winning.
