This is the Most Ridiculous Use of Money Management I've Ever Heard. What is Wrong with You?
Tomasz TunguzVenture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. This is the Most Ridiculous Use of Money Management I've Ever Heard. What is Wrong with You?
I’ve been following many public market investors on Twitter over the past few weeks to understand how they view the vacillation of the public markets. One of the tweets linked to a speech Stanley Druckenmiller gave in 2015 about Black Wednesday. At the time, Druckenmiller worked for George Soros at a hedge fund.
The trade turned out to be a massive success for both of them. The anecdote made me laugh just as much for its delivery with the twist, as for the familiarity of unexpected turns in investment decision-making. This conversation, or some form of it, is played out across the financial ecosystem every day: one person pitching another an idea. Most of the time, the thesis doesn’t land. But every once in a while, the pitch evokes a reaction like Soros' in this story. When I started in venture capital, I didn’t realize this happened. It took me a long time to figure it out. VCs are market-makers in a sense. On the sell-side of the market, they convince entrepreneurs to work with them as board members and investors. And on the buy-side of the transaction, VCs convince their firm’s investment team to partner with a founding team. Bringing those two parties together is at the heart of successful deal-making in venture firms. Every once in a while, when hearing pitching an idea, the investment team will roar with excitement and it’s a lot of fun, especially when resonates unexpectedly. When it happens next at Redpoint, I’ll be thinking of this exchange between Druckenmiller and Soros. |
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Tomasz Tunguz Venture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. How Much is 20% More NDR Worth to Your SaaS Startup
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Tomasz Tunguz Venture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. The Feedback Loops in Data that Will Change SaaS
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Tomasz Tunguz Venture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. The Most Popular Startup Domain Suffixes - .com, .
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Thursday, February 18, 2021
Tomasz Tunguz Venture Capitalist at Redpoint If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. The Most Effective Tools and Techniques for Selling
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