Rob Liddiard

1.9K posts

Rob Liddiard banner
Rob Liddiard

Rob Liddiard

@RJLiddiard

Professional EOS Implementer; Exited B2B SaaS CEO (acquired 2022), Reformed M&A Lawyer. U.K. SMB enthusiast. RealEstate-Curious.

London, England Katılım Nisan 2014
2K Takip Edilen669 Takipçiler
Rob Liddiard retweetledi
Jake Wallis Simons
Jake Wallis Simons@JakeWSimons·
I’ve got to say, Kemi is emerging as a true hero.
English
212
268
3.9K
57K
Rob Liddiard
Rob Liddiard@RJLiddiard·
What a brave man - @PeterEttedgui. “I do not want the school bully to become my Prime Minister”. I’m no comms expert, but “i’m horrified to be reminded of saying such hateful things as a boy - i was insecure and silly. im deeply sorry Peter” is what i would have liked in reply
Carole Cadwalladr@carolecadwalla

‘I have not a political reason but a highly personal reason [for speaking out]. I do not want to see my school bully become prime minister’ Huge kudos to @PeterEttedgui. This is a hugely powerful & sobering interview.

English
0
0
0
41
Rob Liddiard
Rob Liddiard@RJLiddiard·
@BigJohn043 So true. Business is simple, but not easy. Professional work is complex, but (for high IQ types) not hard. Accordingly pretty common for entrepreneurs to suck at the professions and vice versa. Thank God for teamwork!
English
0
0
6
234
John Caple
John Caple@BigJohn043·
Surprised by all of the reaction to this. My experience is business is really hard: Hiring the right people is hard Holding people accountable is hard Attracting new customers is hard Retaining existing customers is hard Collecting money is hard Negotiating price with customers is hard Etc. Etc. Even people that have focused on business their whole career struggle with a lot of this. We are a top performing PE fund and we struggle across the portfolio and make lots of mistakes. Some people launch their own small business and just figure out how to manage it well. But most struggle. The idea that people who have trained their whole life to provide medical care will often struggle to run a business just seems obvious to me...
John Caple@BigJohn043

The counter argument to this is most doctors aren't very good business people. Selling allows you to focus on being a doctor and letting someone else take care of running the business. You obviously do lose some control....

English
6
1
34
12.8K
Rob Liddiard
Rob Liddiard@RJLiddiard·
@huntercdurham good on for you the shout out - sucks to go through bad times, but awesome to come out the other side knowing yourself & a few key people so deeply in terms of critical skills & character🧡
English
0
0
0
127
Hunter Durham
Hunter Durham@huntercdurham·
When my ship sank, one person stayed with me to the very end. My controller. Last week, I got to bring Ellen back on. She's honestly the reason I didn't go bankrupt a year earlier. I brought her on after, we started burning cash, gave her full and immediate access to hundreds of thousands of dollars each month. And she stayed with me, taking care of the year end taxes even after I had filed bankruptcy in 2023. This is the type of compounding I get most excited about. The relationships with people that build over time. Last business was a knife fight, with 10-15 heavy trucks on the road on a given week, $5,000 repair bills were a norm, and any growth meant $100,000 of working capital increases, or a $100,000 set. Layer that with $40,000 coming out of the business on the 1st of every month. Somehow, we never missed payroll even when AR ballooned to 7 figures after our largest customer broke covenants with their bank. And I have to thank her for that.
English
4
1
26
3.1K
Rob Liddiard
Rob Liddiard@RJLiddiard·
@BigJohn043 Thanks for the dignified reply which showed my question to be dumb - ofc if you don’t buy bad businesses / underwrite bad strategies you don’t need capable CEOs to come in and challenge the strategy 🤦‍♂️ (i come from the startup world, littered with weak execution & bad strategy!)
English
0
0
1
123
John Caple
John Caple@BigJohn043·
@RJLiddiard Not 100% sure I understand your question. In my experience the best CEOs don't make major changes to the strategy. They come in and try to get the right team and the right operating cadence....
English
1
0
2
263
John Caple
John Caple@BigJohn043·
The biggest red flag from a private equity CEO is when he/she wants to have a "strategic" discussion. This almost always means they aren't executing and want to make excuses or reset the objectives.
Paul Nary@ProfPaulNary

This highlights one of the common misconceptions people often have about strategy: Strategy and execution are two sides of the same coin. You cannot have a good strategy without outlining specific, actionable, coherent set of actions required for execution/implementation.

English
8
3
92
18.6K
Rob Liddiard
Rob Liddiard@RJLiddiard·
@DanielPriestley i could live with current u.k. tax burden if Government pivoted to: • No cash benefits without prior contribution • 6+ hrs/day of training or service to claim (timecard verified) • State shelters: just food, roof, structure • Cap taxpayer-funded pensions to private norms
English
0
0
0
5
Daniel Priestley
Daniel Priestley@DanielPriestley·
If you’re a UK citizen, did you pay £17,000 in taxes last year? If you’re a family of 4, did you pay £64k of taxes as a household? If not, someone else did on your behalf. A tiny group of people (1%) pay about 30% of the income taxes. This tiny little group of Brits aren’t just our Dentists, Doctors, Professionals, Engineers, Pilots, Entertainers, Executives, Business Owners and Entrepreneurs, they are also the biggest tax slaves for everyone too. A person earning £150k is paying £60k in tax. A person earning £30k is paying £6.2k in taxes. The high earner is making 5x more and paying 10x more in tax. Given the government spends £17k per person - The higher earner generates a surplus of £43k in taxes while the lower earner requires £11k of someone else’s taxes to cover their portion of government spending. It takes an income of £60k to generate £17k of taxes. So, very few people in the economy are able to cover the costs of themselves, let alone their families too. A tiny number of people can cover their own costs and generate a surplus for society. When you hear people talking about how greedy the rich are, and how we need to make life harder for them, it’s worth considering that if they were to stop earning or to leave, the entire system would collapse. The issue we have in the UK is not enough rich people. We need to either develop them ourselves or import them from elsewhere. We absolutely can not afford to lose them. As we approach an election, be sceptical of any party who claims they can fund spending through higher taxes on the rich. We already have that! What we need is a party that has a plan to create more rich people or invite them from abroad. It’s never been easier for rich people and high earners to live and work anywhere - of course they’ll go wherever they are treated best. The UKs survival is directly linked to the number of high earners - best not to drive them away.
English
1.9K
1.9K
11.3K
2.2M
Rob Liddiard
Rob Liddiard@RJLiddiard·
@tomhfh To retain high-tax (but not “rich”) Brits, the next govt should consider: • No cash benefits without prior contribution • 6+ hrs/day of training or service (timecard verified) • State shelters: just food, roof, structure • And cap taxpayer-funded pensions to private norms
English
0
0
0
11
Tom Harwood
Tom Harwood@tomhfh·
At what point will the state recognise the asylum system has become a backdoor route to economic migration? Except unlike work visas which carry no recourse to public funds, these economic migrants are gifted accommodation, phones, healthcare, and other tax funded perks.
Chris Rose@ArchRose90

Concerned parents are out protesting against illegal migration, whilst their taxes are paying to accommodate illegal migrants in hotels. The thanks? To be laughed at and filmed by illegal migrants in the Barbican hotel. So disrespectful and infuriating.

English
82
259
1.8K
53.7K
Rob Liddiard
Rob Liddiard@RJLiddiard·
@RobNoLastName Sigh. To retain high-tax (but not “rich”) Brits a future UK Government should consider: • No cash benefits without prior contribution • Claimants: 6+ hrs/day of training or service (timecard verified) • State homeless shelters (vs ‘free’ houses) for food, shelter & structure
English
0
0
1
70
Rob (No FBPE please)
Rob (No FBPE please)@RobNoLastName·
The UK spent £16.4bn in debt interest (not repayment) in June That’s £438.50 for each taxpayer- for one month. £5,260 per taxpayer per year The UK avg salary is £37,000. On that they’ll pay £4,884 of income tax Doesn’t even cover their share of debt interest MAD (Source ONS)
English
111
477
2.2K
184K
Rob Liddiard
Rob Liddiard@RJLiddiard·
What a legend. I know it’s silly, but i tend to get more nervous teeing off at a modestly posh golf club than i do in any business context. This is his most impressive and courageous endeavour to me. Total badass.
Bill Ackman@BillAckman

I can speak in front of an audience of a thousand people or in a TV studio on a broad range of topics without any preparation and without a twinge of fear, but yesterday I had my first real experience with stage fright. I found myself on a tennis court in a live streamed professional tournament with a few hundred in the crowd. Throughout the match, my wrist, arm and body literally froze with the expected negative outcomes. I had difficulty breathing, and it was not a fitness issue. It got a bit better as the match progressed, but I was not able to overcome it. I regularly play with mid-20-year-old D1 college players and recently retired pros on a familiar court with no audience with none of the same symptoms. It was a very humbling experience that gives one even more respect for the pros who play for a living in front of the cameras and the crowds. We forget that they also need to manage the challenges of their carefully examined personal lives, their break ups, their emotions, financial stresses, and their mental health, family, and other challenges. Tennis is one of the few sports where the athlete is out there alone in front of the klieg lights for hours operating with incredible intensity with barely a bathroom break. And they might have been awakened in the middle of the previous night for a drug test while staying far from home. For all but the top players, they also struggle financially as they manage their small businesses working to recruit and retain talent, manage expenses, balance their budgets, and pay their taxes on time. Whatever respect we already have for these incredible athletes, it is not enough. They deserve more of our applause and appreciation.

English
1
0
0
119
Rob Liddiard
Rob Liddiard@RJLiddiard·
Love this on Rory’s Masters success by @KylePorterNS here: “What it must be like when your dream and your nightmare happen to overlap, and you fulfill one while conquering the other at the exact same time.”
Kyle Porter@KylePorterNS

Some final Masters thoughts. 1. Five is so many. Adam Scott, JT and Scottie combined. It's so, so many. Only 14 players since WW2 have won five or more. Tying Brooks and Seve with the best golf of your life, and now, improbably, Palmer is back in play.

English
1
0
0
118
Tom Blomfield
Tom Blomfield@t_blom·
@RJLiddiard Why do you need to check? When the AI is good enough, you just trust what it says.
English
1
0
1
55
Tom Blomfield
Tom Blomfield@t_blom·
I worry that "AI is going to make doctors/lawyers/whatever more effective" is just cope. It's only true over a 1-3 year time horizon. AI is going to steamroll all knowledge work in the next 10 years.
English
643
252
5.2K
1M
Rob Liddiard
Rob Liddiard@RJLiddiard·
@t_blom That’s so interesting - I find it very hard to believe you would self serve in checking the super AI’s output. Why would you bother? I can clean my own house, but I don’t because there are higher value things I can do with my time
English
1
0
0
42
Tom Blomfield
Tom Blomfield@t_blom·
@RJLiddiard I think lawyers will be 100% replaced by an end-to-end AI lawyer with no human in the loop. Lawyers think the "relationship" is valuable. The client just wants to the legal problem to go away.
English
1
0
0
69
Rob Liddiard
Rob Liddiard@RJLiddiard·
@t_blom (Or are you saying that you don’t think there’ll even be value capture opportunities for relationship owner lawyers taking overall responsibility for driving the AI and delivering the desired client outcome?)
English
1
0
0
43
Rob Liddiard
Rob Liddiard@RJLiddiard·
@t_blom Do you mean you worry for redundant associates & old school big law firms @t_blom? As an English lawyer with an entrepreneurial interest, it feels exciting to imagine capturing more value (operating as a sole practitioner or boutique firm owner) whilst billing clients much less
English
1
0
0
242