Alfonso Fernandez

Qokoon is a financial analysis and portfolio monitoring software for: > Private equity & private capital GPs > Banks and corporate lenders > CFOs Qokoon instantly: > Conducts due diligence > Analyses the financials of ALL PortCos > Generates portfolio dashboards & analytics

@vtchakarova When instruments of expansion become vested interests institutions reform is needed. Otherwise decline will continue. Quigley

It will take the EU & member states 10 years to achieve the “strategic autonomy”. Is it feasible? Yes, with civilizational efforts on behalf of citizens, industries & governments towards shift in the way we produce, work & use energy. Is it realistic? No with current Mindset.

@MattEvantic @winstonweinberg @harvey Do you know of a comparably successful, with a great product for FP&A and PortCo monitoring?

Respectfully disagree here. Understand the desire to promote the company you’ve backed so will do the same. I looked at both and made the decision to back @winstonweinberg and team @harvey . We’ve invested twice now. Harvey is adding a full “legora” of revenue every few months and killing it across US AND Europe. There is room for two vendors in a market this large and complex but make no mistake, Harvey is THE market leader and the company is on fire!!! 🔥🔥🔥🔥

@rorysutherland , would you comment on the @Akestam_Holst ad about Legora please? Genius ad (I think). Other finance/legal ads (in Bloomberg) talk as if they were an LLM, generating (probabilistic) sentences that make sense, sound great, but mean nothing. If you are going to speak nonsense, you may as well have Jude Law saying he is an expert in Law because his name is Jude. @WeAreLegora well done! 👏👏👏

@zriboua ❤️ Geopolitics and religion conversation at the table?

Happy Mimouna ✡️ 🇲🇦 With friends and family

@ctindale There is third choice for those countries who dare (can): promote entrepreneurship and innovation.

It's a rough world- does the west surrender to china or does protectionism descend on everything. My guess is protectionism is for many states is the only valid choice .

@timurkuran Indeed, although the + is there for a reason… to incorporate any category (be it a letter or a number) that they might have missed Letters are finite, numbers are not…

Premature. With 265 days left in 2026, Canada has plenty of time to keep extending the oppression alphabet.

And there you have it, the Western Europe/Rest of Europe divide. Plus, a poll with a small % of “don’t know” is not trustable. It implies that most people know about the subject (not realistic) or that they were compelled to answer anything other that “don’t know”, in which case they will probably answer what the media has been telling them.

only 12% of europeans polled across six countries see the united states as a close ally. 36% see it as a threat.

@vtchakarova Indeed necessity is the mother of invention. For those lacking creativity, it is the also the mother of action. Either way, it is always a good catalyst

Indeed reality is brutal, thus things will happen in Europe too. Not out of conviction but due to strategic necessity - the mother of invention.

@timurkuran Plus Wittgenstein's Ruler. Or in other words @NateSilver538 has demonstrated his lack of understanding about ecosystems, systems or the overall system, which, all are hierarchies of a whole oneness

In leaving Twitter/X for essentially all-blue platforms like Bluesky, progressive leftists abdicated their capacity to influence middle-of-the-road constituencies. For the luxury of self-segregation from non-progressive views, they sabotaged their own political causes.

@zriboua My worst stock market investments (read losses) were those when I bought shares because a well known & very successful investor had bought them My best ones were those when I stuck to “my little research and assessments” There’s something about understanding what you are doing

I’ve personally learned to just stick to my little research and assessments, at least if I get it wrong, I’ll learn a thing or two instead of saying things because there is a "consensus".

Just a reminder that last week we were supposed to have had a nuclear war, Iranians mining the strait, Netanyahu dead, China taking over Taiwan, Trump TACO and Gulf countries helping Iran or not joining the war. What a circus this has all been.

@BillAckman @X I agree and I congratulate you for it seems you have smashed your own record for the longest X post ever 🙂 Good luck and keep us informed as you have done in the past when people have gone after you and your family.

I am reaching out to the @X community for advice with the likely risk of sharing TMI. I have been sufficiently upset about the whole matter that I have lost sleep thinking about it and I am hoping that this post will enable me to get this matter off my chest. By way of background, I started a family office called TABLE about 15 years ago and hired a friend who had previously managed a family office, and years earlier, had been my personal accountant. She is someone that I trusted implicitly and consider to be a good person. The office started small, but over the last decade, the number of personnel and the cost of the office grew massively. The growth was entirely on the operational side as the investment team has remained tiny. While my investment portfolio grew substantially, the investments I had made were almost entirely passive and TABLE simply needed to account for them and meet capital calls as they came in. While TABLE purchased additional software and other systems that were supposed to improve productivity, the team kept increasing in size at a rapid rate, and the expenses continued to grow even faster. While I would periodically question the growing expenses and high staff turnover, I stayed uninvolved with the office other than a once-a-year meeting when I briefly reviewed the operations and the financials and determined bonus compensation for the President and the CFO. I spent no time with any of the other employees or the operations. The whole idea behind TABLE was that it would handle everything other than my day job so that I would have more time for my job and my family. Over the last six years, expenses ballooned even further, employee turnover accelerated, and I became concerned that all was not well at TABLE. It was time for me to take a look at what was going on. Nearly four years ago, I recruited my nephew who had recently graduated from Harvard and put him to work at Bremont, a British watchmaker, one of my only active personal investments to figure out the issues at the company and ultimately assist in executing a turnaround. He did a superb job. When he returned from the UK late last year after a few years at Bremont, I asked him to help me figure out what was going on with TABLE. When I explained to TABLE’s president what he would be doing, she became incredibly defensive, which naturally made me more concerned. My nephew went to work by first meeting with each employee to understand their roles at the company and to learn from them what ideas they had on how things could be improved. He got an earful. Our first step in helping to turn around TABLE was a reduction in force including the president and about a third of the team, retaining excellent talent that had been desperate for new leadership. Now here is where I need your advice. All but one of the employees who were terminated acted professionally and were gracious on the way out (excluding the president who had a notice period in her contract, is currently still being paid, and with whom I have not yet had a discussion). The highest compensated terminated employee other than the president, an in-house lawyer (let’s call her Ronda), told us that three months of severance was not enough and demanded two years’ severance despite having worked at the company for only two and one half years. When I learned of Ronda's request for severance, I offered to speak with her to understand what she was thinking, but she refused to do so. A few days ago, we received a threatening letter from a Silicon Valley law firm. In the letter, Ronda’s counsel suggests that her termination is part of longstanding issues of ‘harassment and gender discrimination’ – an interesting claim in light of the fact that Ronda was in charge of workplace compliance – and that her termination was due to: “unlawful, retaliatory, and harmful conduct directed towards her. Both [Ronda] and I [Ronda’s lawyer] have spoken with you about [Ronda’s] view of what a reasonable resolution would include given the circumstances. Thus far, TABLE has refused to provide any substantive response. This letter provides the last opportunity to reach a satisfactory agreement. If we cannot do so, [Ronda] will seek all appropriate relief in a court of competent jurisdiction.” The letter goes on to explain the basis for the “unsafe work environment” claim at TABLE: “In early 2026, Pershing Square’s founder Bill Ackman installed his nephew in an unidentified role at TABLE, Ackman’s family office. [His nephew]—whose only work experience had been for TABLE where he was seconded abroad for the last four years to a UK watch company held by Ackman—began appearing at TABLE’s offices and conducting interviews of employees without a clear explanation of his role or the purposes of these interviews. During this period, he made a series of inappropriate and genderbased [sic] comments to multiple employees that created an unsafe work environment. Among other things, [his nephew] made remarks about female employees’ ages (“Tell me you are nowhere near 40”), physical appearance (“Your body does not look like you have kids”), as well as intrusive questions about family planning and sexual orientation (“Who carried your son? Who will carry your next child?”). These incidents were reported to senior leadership at TABLE and Pershing Square. Rather than being addressed appropriately, the response from senior management reflected, at best, willful blindness to the inappropriateness of [his nephew]’s remarks and, at worst, tacit endorsement.” The above allegations about my nephew had previously been brought to my attention by TABLE’s president when they occurred. When I learned of them, I told the president that I would speak to him directly and encouraged her to arrange for him to get workplace sensitivity training. The president assured me that she would do so. When I spoke to my nephew, he explained what he actually had said and how his actual remarks had been received, not at all as alleged in the legal letter from Ronda’s counsel. I have also spoken to others at the lunch table who confirmed his description of the facts. In any case, he meant no harm, was simply trying to build rapport with other employees, and no one, as far as I understand, was offended. Ironically, Ronda claims in her legal letter that TABLE didn’t take HR compliance seriously, yet Ronda was in charge of HR compliance at TABLE and the person who gave my nephew his workplace sensitivity training after the alleged incidents. In any case, Ronda, as head of compliance, should have kept a record or raised an alarm if indeed there was pervasive harassment or other such problems at the company, and there is no evidence whatsoever that this is true. So why does Ronda believe she can get me to pay her nearly $2 million, i.e., two years of severance, nearly one year of severance for each of her years at the company? Well, here is where some more background would be helpful. Over the last two months, I have been consumed with a major family medical issue – one of my older daughters had a massive brain hemorrhage on February 5th and has since been making progress on her recovery – and I am in the midst of a major transaction for my company which I am executing from a hospital room office next to her . While the latter business matter is publicly known, the details of my daughter’s situation are only known to Ronda because of her role at our family office. Now, let’s get back to the subject at hand. Unfortunately, while New York and many other states have employment-at-will, there has emerged an industry of lawyers who make a living from bringing fake gender, race, LGBTQ and other discrimination employment claims in order to extract larger severance payments for terminated employees, and it needs to stop. The fake claim system succeeds because it costs little to have a lawyer send a threatening letter and nearly all of the lawyers in this field work on contingency so there is no or minimal cash cost to bring a claim. And inevitably, nearly 100% of these claims are settled because the public relations and legal costs of defending them exceed the dollar cost of the settlement. The claims are nearly always settled with a confidentiality agreement where the employee who asserts the fake claims remains anonymous and as a result, there is no reputational cost to bringing false claims. The consequences of this sleazy system (let’s call it ‘the System’) are the increased costs of doing business which is a tax on the economy and society. There are other more serious problems due to the System. Unfortunately, the existence of an industry of plaintiff firms and terminated employees willing to make these claims makes it riskier for companies to hire employees from a protected class, i.e., LGBTQ, seniors, women, people of color etc. because it is that much more reputationally damaging and expensive to be accused of racism, sexism, and/or intolerance for sexual diversity than for firing a white male as juries generally have less sympathy for white males. The System therefore increases the risk of discrimination rather than reducing it, and the people bringing these fake claims are thereby causing enormous harm to the other members of these protected classes. So what happened here? Ronda was vastly overpaid and overqualified for the job that she did at TABLE. She was paid $1.05 million plus benefits last year for her work which was largely comprised of filling out subscription agreements and overseeing an outside law firm on closing passive investments in funds and in private and venture stage companies, some compliance work, and managing the office move from one office to another. She had a very good gig as she was highly paid, only had to go into the office three days a week, and could work from anywhere during the summer. Once my nephew showed up and started to investigate what was going on, she likely concluded that there was a reasonable possibility she would be terminated, as her job was in the too-easy-and-to-good-to-be-true category. The problem was that she was not in a protected class due to her race, age or sexual identity so she had to construct the basis for a claim. While she is female and could in theory bring a gender-based discrimination claim, she reported to the president who is female and to whom she is very close, which makes it difficult for her to bring a harassment claim against her former boss. When my nephew complimented a TABLE employee at lunch about how young she looked – in response to saying she was going to her 40-year-old sister’s birthday party, he said ‘she must be your older sister’ – Ronda immediately reported it to our external HR lawyer. She thereby began building her case. The other problem for Ronda bringing a claim is that she was terminated alongside 30% of other TABLE employees as part of a restructuring so it is very difficult for her to say that she was targeted in her termination or was retaliated against. TABLE is now hiring an external fractional general counsel as that is all the company needs to process the relatively limited amount of legal work we do internally. In short, Ronda was eminently qualified and capable and did her job. She was just too much horsepower for what is largely an administrative legal role so she had to come up with something else to bring a claim. Now Ronda knew I was a good target and it was a good time to bring a claim against me. She also knew that I was under a lot of pressure because on March 4th when Ronda was terminated, my daughter had not yet emerged from consciousness, she was not yet breathing on her own, and my daughter and we were fighting for her life. I was and remain deeply engaged in her recovery while at the same time I was working on finishing the closing for the private placement round for my upcoming IPO. Ronda also knew that publicity about supposed gender discrimination and a “hostile and unsafe work environment” are not things that a CEO of a company about to go public wants to have released into the media. And she may have thought that the nearly $2 million she was asking for would be considered small in the context of the reputational damage a lawsuit could cause, regardless of the fact that two years of severance was an absurd amount for an employee who had only worked at TABLE for 30 months. She also likely considered that I wouldn’t want to embarrass my nephew by dragging him into the klieg lights when her claims emerged publicly. So, in summary, game theory would say that I would certainly settle this case, for why would I risk negative publicity at a time when I was preparing our company to go public and also risk embarrassing my nephew. Notably, she hired a Silicon Valley law firm, rather than a typical NY employment firm. This struck me as interesting as her husband works for one of the most prominent Silicon Valley venture firms whose CEO, I am sure, has no tolerance for these kinds of fake claims that sadly many venture-backed companies also have to deal with. I mention this as I suspect her husband likely has been working with her on the strategy for squeezing me as, in addition to being a computer scientist, he is a game theorist. My only advice for him is to understand more about your opponent before you launch your first move. All of the above said, gender, race, LGBTQ and other such discrimination is a real thing. Many people have been harmed and deserve compensation for this discrimination, and these companies and individuals should be punished for engaging in such behavior. Which brings me to the advice I am seeking from the X community. I am not planning to follow the typical path and settle this ‘claim.’ Rather, I am going to fight this nonsense to the end of the earth in the hope that it inspires other CEOs to do the same so we shut down this despicable behavior that is a large tax on society, employment, and the economy and contributes to workplace discrimination rather than reducing it. Do you agree or disagree that this is the right approach?

@AdameMedia @nntaleb youtu.be/FIc5p79CxDk?si…

"Arabs are inferior to us. That's why we kick Palestinians and slap them. We train dogs so they will bite them strongly and tightly. That's why we shoot them. They're nothing" — A Tel-Aviv school principal exposes Israeli society

@BigJohn043 Thank you John, Do you know what level of detail about the PortCos LPs are requesting? As sharing PortCo data is a sensitive issue involving confidentiality, what do you think should be provided to LPs? @BigJohn043

@Afstuyck We have always had very detailed disclosure so we haven't. But LPs want more disclosure and it is certainly a buyers market right now....

I think the software selloff is probably overdone. But I also talked to several LPs that attended the TB AGM and didn't really buy what they were selling. Something to watch....

@vtchakarova Plus, once again, Trump gets US allies to do what he wants. US didn’t want to say that Russia was helping Iran too much, so US lets “European Allies” be the messenger.

It’s a new Cold War between America and the DragonBear with Ukraine and now Iran being the two proxy wars between the two blocs. European decision makers are simply ignorant of global geopolitical and geoeconomic dynamics. Even when things are happening in front of their eyes.

@Austen @rorysutherland Alchemy by @rorysutherland

Whoever figured out you could charge 5x retail if you “let” people pick their own berries is a genius

@vtchakarova What percentage of people (including lawmakers), are system thinkers? So, that explains why. And it will not change until the education system changes (which it is in itself a change in the system).

People didn’t want to believe that the war in Iran is systemic risk-driven global crisis - the fourth one after GFC, Covid, and Russia’s war on Ukraine. This will by by far the most comprehensive and gruesome one affecting hundreds of million people around the world. Get ready!

@wolftivy @elonmusk To do that you need a president with soul in the game and patience. You need a strong person to face all the resistance to change and a patient person (and citizens) because flipping the switch although “historically instant” it still takes many years for the effects to show.

What's interesting about Bukele's rule is that it's all so obvious. You can just flip the switch and make your country powerful, be beloved by the people, get rich, etc. That this is not widely regarded as something worth striving for shows a deep sickness in Western politics.

@elonmusk It is not just the debt, it is (i) the exponential interest expense and (i) how a larger of those interests are being accrued (i.e. not paid, to help the budget deficit) and added to the debt. Also, "Federal employee and veteran benefits payable" has exploded since 2022.

The uniparty in action

@vtchakarova My local supermarket’s shelves in London emptier than usual this morning. @vtchakarova , do you think the supply chain troubles for food have started already? Short delay for some geographies of so.

Bab al-Mandab is another significant global choke point in the Red Sea. If the Houthis decide to close it again like they did after 2023, we will witness further disruption of supply and more physical scarcity.

@PeterDiamandis ⚠️ Dangerous proposition!!! Education SHOULD have a dual purpose, to teach how to do & to teach knowledge and understanding. Techne and Episteme. If we only teach how to do, the species will become dumber whilst AI becomes smarter Plus many PHDs do it for the love of learning

If AI can now solve math, discover physics and chemistry breakthroughs faster than human PhDs, why are we still training humans to be physicists? Serious question. Should education shift from 'learn to do X' to 'learn to direct AI doing X'? The wrong direction costs a generation their careers.