Rob Go

@YashPnke Awesome! Can’t wait

@robgo Saw it last week. Absolute masterpiece. Enjoy!

Watching Project Hail Mary tonight. The last time I was this excited to see a movie was Endgame. Can't wait!

@NotMattGeorge congrats!

Merlin debuted today as a public company on NASDAQ ($MRLN)! Modern aerospace begins with a brain, not just metal. That’s the Merlin Pilot. $100M+ in contract value, hundreds of flights, active certification programs, and many more aircraft types in the pipeline. Join us!

@kwharrison13 @zck Love Arrival. I’d also add: - children of men - whiplash

@zck Arrival is deeply underrated. investing101.substack.com/p/the-non-zero…

- The Player - Arrival - Silence of the Lambs - Kiss Kiss Bang Bang - Rope - Godfather/Part II (duh)

This is actually kind of a contrarian take in a world where power-law thinking would suggest that price doesn't matter for the "best" founders.

Go Fuse! Congrats on your series A!

@mdgarratt just a pet peeve of mine, but yeah, founders have a lot more to worry about

@robgo I find most founders also use the word deal. I am very conscious not to myself, but I don’t think they care.

Even worse than VC's calling investments "deals" are secondary brokers calling companies "names". How transactional can one be?

@jmelaskyriazi Ooh, nice. I feel like we can make a pretty nice t-shirt with these.

@robgo "logos"

@PeterJ_Walker Oh yes. Just call it a damn burger :)

@robgo I love this product - McDs CEO

@jmelaskyriazi Great spot!

@robgo I always walk there on my 1-1s!

Lovely scene from a walking meeting yesterday

"I’ve started to think of it as the difference between your résumé and your restlessness. I’d bet on restlessness every time."

@theinformation That's a lot of Mongolian and cashmere!

Investors are circling Quince as the fast-growing e-commerce brand explores a round that could double its valuation to over $10B. thein.fo/4b8HgYN

@credistick I agree with you! Just calling the game see on the field.

@robgo I'd take the other side of that; extreme capital concentration is what has created these theoretically large outcomes, rather than vice-versa. It's not good for the market, and I don't see it ending well. TBD, I guess!

When I polled small GPs about their LP base at the end of last year, my expectation was that they would have increased allocation from multi-stage firms since the 2022 downturn. I was wrong! Despite multi-stage firms raising more than ever, they actually pulled back from LP activity in small firms significantly. In the context of the period (small managers being decimated by the retreat of traditional LPs, multi-stage firms ballooning on sovereign capital) the reduced allocation was… unexpected. But if big firms are now discouraging LPs from backing small firms, maybe it’s not odd at all; the rug is being pulled. Be careful who you get in bed with.

@credistick Or the alpha is underestimating how big the already winning companies can be. That has arguably been a bigger source of alpha in the last 5 years, so the market is concentrating capital in that way.

@robgo My push-back there is that it would be a brain-dead strategy, given all of the alpha in venture capital is in being able to surface what's next, first. Which is not to say you're wrong!

@credistick On the LP conversation, I wasn’t aware. I guess I need to listen to more podcasts. 😊

I hear you, and I'm not stuck on that explanation. The lingering question: The market correction resulted in large firms raising more, not less. If small firms were valuable partners, why pull back at that point? The notion that they're out there telling LPs that small firms are a bad prospect also matches with a lot of the current rhetoric on podcasts.

@LinksGems George Wright in Boston cc @AndyTFE thefriedegg.com/courses/george…

What do you guys think is the best “true” muni out there? A “true” muni, according to my entirely made up definition, must be both owned by the municipality and offer locals greens fees under $50 during the week. Until someone beats it, the terrific Charleston Muni has my vote.