An old collection of threads. I’m running out of new things to say and this platform is very ephemeral, so figured I’d post / pin this as a somewhat dated but probably pretty good guide to my historical threads around time of fund launch.

Most investors don’t forget people who helped them get a job, helped them make money with a good idea, helped them raise capital, or supported them when they were down. Every investor remembers the person of people who took advantage of them or screwed them over.

POSITIVE SUM OUTCOMES (1/X) In a world where information and analysis are becoming commoditized, other skills become more valuable.  Our ability to build trust, work collaboratively, and create community allow us to be more than the sum of our parts and increase the likelihood of success for both ourselves and the people we partner with. A 🧵: The basic premise here is that we can be more than the sum of our parts when we work with others collaboratively towards a mutually beneficial goal, and that doing this is more likely to engender the same in return. Everyone has stories about how someone screwed them over, but people don’t talk enough about the person or people who helped them succeed and how those relationships were built.   HOW CAN YOU HELP Helping people makes me happy and feel good about myself. I’ve always naturally been a helper, but throughout my my career encountered more cynical people who believe most aspects of life or career is a competition to be won. But doing well doesn’t have to be at the expense of others.   1) “Look for the helpers” Mr Rodger’s said it best - find people who like helping and put your effort into those relationships / friendships, and generally avoid ones that are more one-sided, or where you don’t like the person. Helpers attract other helpers to their networks and make more meaningful introductions and partners over time. 2) Be genuine There is an episode of South Park where Cartman, a horrible person, tries to figure out how to act nice so he can get invited to another kids birthday party. I don’t know how to help someone become a helper, but if you find yourself inclined that way, I think you can lean into that. If you are a Cartman, and try to act nice for your own benefit, this becoming transparent in time.  3) Tell the truth, not what people want to hear In an industry built around narrative and persuasive storytellers, you can do this while also being honest and candid. One of the best ways to build credibility is to admit weaknesses and mistakes, and also to be known as someone who will give candid feedback. Too often investors are trying to sell LPs, other investors, and their employees stories that aren’t true.  Everyone has had these experiences - being known as someone who never does this, over a long period of time, is invaluable. I’m finding it harder to find time to right very long threads, so this is all I’ve got for now.  This weekend I’ll give some practical examples of how I’ve seen people do this / tried to do it myself, also will be active in q&a as time allows

Working on 🧵’s on building community and creating “positive-sum outcomes” in investing.  My increasing belief is that approaching relationships - in investing and in life - as genuine partnership vs a “zero sum game” often creates more positive outcomes for all.

I second this - really top notch firm.

Thinking about this more recently. Interesting element this time is that a lot of the momo has actually come from historically deep value names, less speculative / new issues. Reminds me a bit of covid in that way, except harder to see end state & when that happens.

More and more I’ve thought of investing as a team sport. When I was younger, even as an analyst, I felt it was all up to me. Having a group of likeminded, passionate people who are aligned in philosophy, process, and incentives is a magical thing.

Trying to institute some more process around idea gen again as team grows and matures. Resurfacing, will probably update with some new thoughts when I have time. Still agree with most of this.

Kudos to irenic for trying here. Will be interesting to see what happens given how terrible governance apepars from the surface, but if there is one firm that can do this it's probably Irenic.