Businessman, mostly investing in LMM PE @G64Ventures; co-built @waitbutwhy @arborbridge (acq), bought/holding @collegeplannerpro @myapartmentguardian, viva golf
Chapel Hill, NC
Joined February 2012
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Feels pretty relevant that we have 48% more people in the country than we did in 1980, beginning of millennials.
Makes sense house prices will be nuts in areas that were already established and have had ~0% housing stock growth…affordable is always going to feel “frontier”.
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That said, my entire business and professional livelyhood is built with one of my oldest friends...so exceptions do apply. Mostly on point with the "only do business with friends after 40".
So good
“Before you are 40, never do business with friends. After 40, only do business with friends.” - Chris Davis
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All things equal, how much is it worth for a business to have negative working capital v heavy working capital requirements...an extra 1x? 2x? Feel like heavy WC businesses just crush your ability to ever take money out of the business, no matter how well it is doing.
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Sales bros making it for Friday golf either means the economy is flying or absolutely tanking, no where in between.
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Is Mark Cuban's CostPlus Drug Company low key the most important company started in the last decade?
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I want a documentary on the life of a 24/25 year old, 6th year senior, still playing college football
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Nice to have football back, but really can't wait for "Saudi Aramco Presents: College Football Premiere League" circa 2028
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Anyone out there deeply familiar with commercial hood cleaning businesses? Just looking for a brain to pick for 15 mins.
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Looking for an executive who knows the DIY market (Lowes, Home Depot, etc), ideally sales focused, interested in an operational role for a PE backed firm entering the US market. Send a DM if you know anyone.
Here's my gripe on golf pools - the penalty is way too intense for having a guy not make the cut + that's a boring thing to focus on. In addition to having the guy already play like crap + drag you down, you're basically knocked out of the competition before the weekend.
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S&P 500 casually #6 performing fund in 2023 at 14.97% YTD
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A pretty good measure for the quality of the “soul” of a business is how terribly you could run it and still be successful
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Constant self reminder as a board member to not create work for portfolio CEOs just to make me feel like I'm "doing something".
"I need something to analyze...can you spend 10 hours putting that together??"
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Helping a guy submitting an LOI...trying to get confident on price. Basically if business grows 10% annually, deal is home run. If it shrinks 5% annually, dud. Biz has grown about 10% each of last 3 years.
Price is about right. This may sound dumb, but the real question is:
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In self-funded SBA deals where the sponsor is looking for 50%+ sweat equity, the debt usually doesn't actually help the equity investor. It just adds a ton of risk and mis-aligns incentives with the sponsor.
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