PEoperator⚡️

I once presented a billionaire some of the highest-ROI projects I'd ever found. Some north of 1,000% IRR. I have never forgotten his response.

@MittCPA 👆gets it

@PEoperator and now imagine space 🚀

The world is incalculably big. If you are around losers who view it as zero sum, move on.

Whether investing or operating, If you are not willing to challenge your most basal core assumptions- the foundation on which you operate - you limit yourself. Not because you will be wrong, but because you are leaving conviction on the table and conviction drives motivation.

GM. Wake up. Workout. Outwork.

@VPBigCatCorp_ Deadly combo

bourbon + claude = dialed presentation @PEoperator

@wealthMAinsider @TheIcahnist @myfirstmilpod Yeah but what top 10 consultant in the space will help us roll them all up?

@TheIcahnist @PEoperator @myfirstmilpod Here’s the wild thing… there will be 2x the number of wealth clients in 20 years. Process that TAM is expanding!!!!!

Private equity titan explains how he’d get rich today from scratch. He’d do a services roll-up in wealth management. Graham Weaver founded Alpine Investors ($19B AUM).

I thought this was a really great interview with the former president of Tesla. Many practical takeaways. Here are mine: - CEO interviews every new hire, manager and above - Ask interviewees a) about a problem they solved and b) about how they would tackle one of your problems ---> Go deep here - Walk the floor. Observe. Be quiet. Listen. - Watch the customer try to use the product - Keep emails succinct - three sentences: Problem - Root Cause - Solution Highly recommend watching. @ShaanVP @jonmcneill youtube.com/watch?v=GG4TwQ…

@Cashflow_Cowboy Makes sense

@PEoperator So the good ones can definitely compete. But on average, the family office industry isn't competitive with those other paths.

In the specific, yes. In the general, no.

@alt_w_v_g @VPBigCatCorp_ Used Claude connector - found an email i could barely describe in seconds.

@VPBigCatCorp_ Exactly Don’t get me started on how terrible it is when you try and respond inline on an email thread and how it messes up the formatting, bullet numbers, and adds like 5 extra indents between each paragraph Looks like my 5 year old formatted it

You think outlook search is bad? Try outlook search on a iPad

@JoshBobrowsky Agree

Agree on almost everything here The single biggest innovation is the Airbuds by far. While most people don't think of them as "Major" they have re-shaped the way the world listens, and in my opinion helped enhance the large boom of podcast success They have done over $100B in total revenue and substantially enhanced the walled garden of apple computers, phones, laptops and airbuds They also accounted for 5% of Apple's total revenue last year

Warren Buffett ruined Apple. Apple just named John Ternus the new CEO, and everyone is reflecting on Cook's run. The main critique: lack of innovation. I think it's Buffett's fault. Let me explain. Cook had an epic run. Stock up 2,000%. Shareholders thrilled. Customers? Siri still doesn't work. Autocorrect is a pain. Every iPhone is the last iPhone with a new chip. The standard take: Cook is a supply chain guy, not a product guy. That's why innovation stalled. Maybe. But look at the timing. 2016: Buffett buys Apple. Buybacks: $78B TTM. Shares: 26.5B → 14.67B (-45%). New product categories: zero. The obvious counter: Apple has $55B in cash and spends $34B/yr on R&D. They could fund anything. So why don't they? No car. No real AI assistant. Nothing new. Because the OTHER thing Buffett is famous for is sitting on cash. Berkshire's $300B+ pile isn't laziness, it's discipline. High hurdle rate. Wait for the fat pitch. Apple adopted the exact same philosophy. The polar opposite of the Jobs era. Read The Outsiders (Munger consulted). This is the playbook. Study Buffett: stay inside your circle of competence. That's what Cook did. He ran operations. He outsourced capital allocation to the GOAT. As a customer, I don't love it. As an investor, the stock is up 2,000%. Hard to argue. But Apple lost its Think Different edge. Google is still swinging - Waymo, Gemini, data centers. So it doesn't have to be this way. The early signs of change: Apple's CFO just dropped the "net cash neutral" target. R&D up 34% YoY. The discipline is loosening. Cook did a great job. But Apple lost some of its cool factor. I blame Papa Buffett. Was that brilliant stewardship or mortgaging the future? The Ternus era will be revealing. There's plenty of dry powder to innovate and swing again. If he doesn't, Apple locks in as the same boring corporation everyone else became. Operator intrigue.

@RhinoVesting *they definitely Think Different there

@RhinoVesting Definitely Think Different there

@lourencoczernin 💯

@PEoperator Taking a book that you recommended (loved it btw) "Double your profits" - says R&D is a strategic expense, where you should outspend the competition Apple has a super strong brand... but that still doesn't make it invulnerable

@HayekAndKeynes Tim Apple?

Trump landed in Beijing with an 18-member CEO delegation including Elon Musk, Tim Cook, and Jensen Huang

@markbdelaney He’s the best

@PEoperator Another quote of his that matters here: “Be courteous, be professional, and have a plan to kill everyone”

Quote from "Mad Dog" Jim Mattis about how business operators need to approach their private equity sponsor: "When you are engaged at the tactical level, you grasp your own reality so clearly it’s tempting to assume that everyone above you sees it in the same light. Wrong."

@BroCool420 Mattis is a treasure

@PEoperator Always thought it was interesting how people seemingly paid no attention to Mattis’s thoughts/comments on Trump, after working with him.

@GrowthGauntlet 💯

@PEoperator The trap is assuming the sponsor knows what you know. They don't. They have ten portfolio cos, your monthly deck, and a thesis from the LOI they may or may not still believe in. Reground them every quarter or they'll reground themselves — and you won't like where they land.