Will

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Will

Will

@thefutureaidos

Building a content-creator focused serial acquirer @realitymarbleio.Partner @CaballerosCap Prev @SOSV @orbitstartups.

Singapore Katılım Mart 2011
4.2K Takip Edilen594 Takipçiler
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Will
Will@thefutureaidos·
Lessons and mistakes to avoid in life and investing. Some might be repetitive. This thread is more for myself than it is for other people.
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PrivateEquityGuy (Mike Markus)
PrivateEquityGuy (Mike Markus)@PrivatEquityGuy·
Never bet against someone with high energy, someone who’s willing to pivot and then build the wildest conviction & passion for a niche industry that others have overlooked. Talked to a guy who started an agency, grew it to $10m revenue, made a pivot right before COVID, then acquired seven companies and sold to PE for nine figures.
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Will
Will@thefutureaidos·
@levelsio They automatically deduct 100 rmb from your deposit if you don't return it. If you use Alicredit to not deposit, it dings your credit score if you don't return it.
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@levelsio
@levelsio@levelsio·
🇨🇳 I found the rentable powerbanks in China One scan to pay with Alipay and then you take the battery and you return it later This would never work in US or Europe because people would just steal the powerbanks
Migue@MigueMorkin

@levelsio (Possibly already many people told you about this) Just in case, I strongly suggest just using Meituan network of chargers. You can pay them using your WeChat or Alipay account, and charge you by minutes consumed. Super convenient.

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Will
Will@thefutureaidos·
@levelsio There was also great exodus of expats after the lockdown in 2022. China hasn't felt the same ever since. Tons of expats I know who lived there for over 10+ years upped and left to SG, Dubai, or back home. A lot more ppl from "emerging" countries (India,Brazil, eastern eu) coming.
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@levelsio
@levelsio@levelsio·
🇨🇳 We barely see any tourists at all The tourists in our hotel are domestic or international Chinese The rest is 🇷🇺 Russians Everywhere I look actually is Russians Even Beijing's new airport at some points has signs in Chinese, English....and Russian! I didn't expect this Apparently Russians are blocked from traveling to most places so they come to China a lot And they do a lot of business now The Chinese we talked to say the Russian businesses for Russians in China are complaining that the Russians are spending less and the money is drying up though which is an interesting anecdotal point
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@levelsio@levelsio

🇨🇳 Okay got Alipay to work Alipay is nice because it acts as a proxy to use other apps like Didi, and Didi won't let me sign up directly, so via Alipay it auto logs you in (kinda like OAuth) Also Meituan app lets me order food from anywhere and apparently it can arrive via a delivery robot Other handy app is Baidu Translate The challenge here is that every Western app like Google Translate, ChatGPT, Google Maps, ChatGPT etc doesn't work at all or doesn't work most of the times, so you kinda have to use the Chinese apps, like DeepSeek Of all my eSIMs my Revolut Global seems to work best, it lets me SOMEHOW open most Western sites fast with no firewall, while Airalo is extremely spotty switches to E (Edge) all the time, I also tried Airalo Hong Kong thinking I could use the Great Firewall hack but that didn't work Whatever @revolut Global eSIM is doing it works amazing in China Yesterday in the subway none of our eSIMs worked though, like we had reception but both of our phones didn't get internet to work. Also nobody spoke any English (which I understand, we're in China) and nobody can read English either So essentially we were illiterate (can't read anything), with no internet, nobody to help us. We tried getting a taxi but they wouldn't take us either because we couldn't communicate Again 99.9% of Chinese don't speak a single word of English, even in 2025, which is OK, it just makes things harder Calling the hotel with my Dutch phone SIM for €5/min ended up being the solution because they could talk to the taxi drivers So yes everything kinda works now! What I see with these travel blogs btw if I write it's difficult I get a lot of replies like "lol fucking n00b!" Which is easy to say but again it's not so easy here But that's also the fun part of China, especially after COVID tourism here from the West appears to have dropped rapidly and Western-Chinese relations have deteriorated rapidly after realizing what a threat China can be in its fast technological development etc. That makes it more interesting as a traveler though because you're the only foreigner almost everywhere I will keep you blogging what I experience next

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Lee Roach
Lee Roach@leevalueroach·
Me talking about buying broadcasters at all time lows all year.
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Will
Will@thefutureaidos·
@levelsio AstrillVPN works best. Especially if you use VIP. But imo if you're only there for a bit, best to just get data roaming. That way you don't have to do anything and everything just works. Only downside is if you don't use Chinese number it's hard to use meituan, didi, eleme, etc
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Will
Will@thefutureaidos·
@OneManLBO Totally fair point.
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One Man LBO
One Man LBO@OneManLBO·
I mean, maybe I'm underestimating the tech challenge here. Just speaking as someone completely incompetent at coding, the thought of paying large sums of money for creation + maintenance to a programmer sends shudders down my back. But the thought of just vibe-coding this does not.
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One Man LBO
One Man LBO@OneManLBO·
Anything fitting the business model of a digital, transaction-based marketplace would scare the pants off of me as a buyer right now. Right now, any ambitious 16-year-old can vibe-code a highly niched-down platform into existence in a matter of days. All the millions of dollars that these places invested into engineering talent over the last decades... guys. The marginal cost of replication has asymptoted towards near-zero. Yeah, you would still need to deal with network effects. Signing up vendors and customers is very costly. But the tech itself is not only cheaper (barriers to entry coming down), but innovation cycles are now accelerating faster than ever before. It's no longer a cost problem, but a human bandwith problem to keep up with all these rapid changes. Same for vertical market software. Remember all these small companies creating software for things you never thought about it, like golf course country club invoicing? Yeah, the teenage vibe coders are coming for your business. Fast. No thanks, just give me a business where I can talk to humans, shake hands, and differentiate on loyalty / likability / trust.
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SMB Attorney
SMB Attorney@SMB_Attorney·
Tomorrow at @MainStSummit (cc: @BrentBeshore), @KHendersonCo, @baldridgecpa, and I will speak on holding company structuring. A few years ago, the term "HoldCo" got hijacked by overly ambitious acquisition bros who conflated it with buying multiple businesses, often before even buying their first. Here's the thing though: Holding company structuring is a fairly elementary and core component of business building. Why? 1. Tax Efficiencies: Optimize/reduce tax. 2. Liability Mitigation: Protect/limit liabilities across different entities. 3. Financing Advantages: Better access to financing opportunities. 4. Shared Services: Economies of scale and scope. Join us tomorrow for more! In the meantime, enjoy my back-of-the-napkin holding company structuring notes from a recent lunch.
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Will
Will@thefutureaidos·
@TheDealMakerGuy Germany has the same problem too. Also with other emerging markets (India, etc). I think most startups from those countries solve this by having the holdco incorporated in one of those jurisdiction friendly countries (US/Singapore/etc), and then the operating entity underneath
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InvestorFromEurope
InvestorFromEurope@TheDealMakerGuy·
I'm often "accused" by some accounts here that I only share a sweet, sugar-coated image of Poland - so here’s something less 'sweet'. Raising money from abroad as a startup in Poland? Good luck. You’ll spend weeks trying to book a notary just to sign documents that an investor in the US would click through online in Delaware before lunch. Everything takes months, involves lawyers, and drowns in paperwork. It’s not only a Polish problem - even Y Combinator only invests in companies registered in a few “startup-friendly” jurisdictions, because in most countries it’s just too complex and inefficient. So when Polish founders move their startups abroad, it’s not a lack of patriotism - it’s self-preservation. The original post by @mattbratos
Michał Podlewski@trajektoriePL

Dlatego wszyscy rejestrują spółki w USA albo poza Polską @mattbratos

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M&A Focused CPA
M&A Focused CPA@BoilerPlateCPA·
I built an analysis of the 50 best and WORST industries for acquisition in 2025. 50 industries. 20 factors. one ranking per industry. To get a copy of the analysis, RT and comment "industries"
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Will
Will@thefutureaidos·
@RockwoodNotes I might've just bought right before you sent out this shipment!
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Rockwood Notes
Rockwood Notes@RockwoodNotes·
If you are inside the US, I got your book mailed out yesterday. All expected delivery dates are between Thursday, Sept. 25th and Saturday, Sept. 27th. If you haven’t gotten it by then, reach out and I’ll check the tracking numbers. I’ll get int’l shipments out next week.
Rockwood Notes@RockwoodNotes

Selling more copies of Autopsy of a Merger Author-autographed $75 + shipping Link below is for _inside_ the US If you’re _outside_ the US, DM me for a custom invoice/shipping est I’ll randomly select 1 person who retweets this to receive a comped Rockwood Notes subscription

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Will
Will@thefutureaidos·
@InvestInJapan The treasure hunting company is very very interesting. Definitely a huge market. "Thrift" and "recycle" types of businesses have traditionally been very good. Surprised that's the largest company in Japan.
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Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
Free to read: Twitter, now X's early survival was thanks to Japan. Co-founder of Digital Garage, Joi Ito, helped it scale in Japan and up until then, there was no real monetisation. Twitter continued to burn cash. He created the ad monetisation model for the 🇯🇵 market, which was rolled out globally! Crazy to think fintwit may have never existed in it's current form. In my new post, I cover some stuff on $4819.JP, Cashless Payments, and a Treasure hunting firm with a serial acquirer twist. Full link in bio (Free to read!)
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Will
Will@thefutureaidos·
@PEoperator "It broke my heart when JC (Sparkman) passed, but I got a call from JC's great grandson the other day, wanting to know stories about his great grandfather. What more can you ask for in life?" -John Malone Think I nearly shed a tear listening to this on audiobook.
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PEoperator⚡️
PEoperator⚡️@PEoperator·
"The most valuable assets in any business are people and relationships." -John Malone
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Will Manidis
Will Manidis@WillManidis·
@thebeautyofsaas The brunello book is excellent. apparently there’s 10+ LVMH internal books that have never seen wide publication even within the firm. That’s the real grail
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Will Manidis
Will Manidis@WillManidis·
mckinsey and sequoia have both written incredible internal firm histories. what other great “biographies of the firm” exist?
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Will
Will@thefutureaidos·
@PEoperator A new biography just got released today. So excited to read it
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PEoperator⚡️
PEoperator⚡️@PEoperator·
From John Malone aka EBITDAddy himself... The definitive correct pronunciation of EBITDA: “ee-bit-dah” Not... "ee-bit-dee-ay" Not... "eh-bit-dah" THANK YOU FOR YOUR ATTENTION TO THIS MATTER
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Will
Will@thefutureaidos·
@mert Tokyo S tier for sure. SS even. Would put shanghai in A as well, maybe B.
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mert
mert@mert·
City tier list that will trigger everyone but is true S: Moscow, Tokyo A: NYC B: Dubai, Abu Dhabi, Singapore, Hong Kong, Istanbul, St Petersburg, Amsterdam, SF, Kuala Lumpur, Austin C: Paris, Berlin, Lisbon, Seoul, Chicago, Rome D: LA, Toronto, Brussels F: London
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Low Risk Value Investor
Low Risk Value Investor@Khambatta·
@thefutureaidos @TheIcahnist Chapter 8 of the book "Lessons from the Titans: What Companies in the New Economy Can Learn from the Great Industrial Giants to Drive Sustainable Success" by Scott Davis. chapter titled "ROPER: The Amazing Untold Story of Brian Jellison and His Timeless Lessons on Compounding"
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The Icahnist
The Icahnist@TheIcahnist·
Buy high-margin boring businesses from Private Equity Roper’s $30B playbook was simple: Boring businesses make the best compounders. Roper cracked the code of vertical software investing
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Cameron Priest
Cameron Priest@cameronpriest·
Great Liemandt interview just dropped - the pioneer of PE-style vertical software rollups. Funny it lands right after @rainmakerspod covered similar ground. Both going into the research vault alongside the @neerajg episode. open.spotify.com/episode/0SOj2V…
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Patrick OShaughnessy@patrick_oshag

Our profile of @jliemandt — founder of Trilogy and ESW, and now principal (and backer) of the much discussed Alpha School Joe was a wunderkind in the 90’s, but hasn’t spoken publicly in 25 years. He’s willing now, because along with @mackenzieprice, he wants to end the industrial era education system and usher in the AI education era. To give you a taste, here’s the opening of our story, a masterpiece by @JeremySternLA “Even after agreeing to break his silence after 25 years, Joe Liemandt is still reluctant to talk about himself. It’s hard to get him to relive Trilogy, the enterprise software company he founded in 1989, which by age 27 put him on the cover of Forbes, twice, as America’s youngest self-made centimillionaire. He isn’t keen to expound on SalesBuilder, Trilogy’s flagship expert system from the 1990s and the world’s first billion-dollar artificial intelligence product in all but name. Ditto ESW, the investment arm of Trilogy that’s acquired hundreds of software companies since 2000 and helped make him a decabillionaire, yet the mention of which makes the otherwise inexhaustible Liemandt, who always seems to be straining at some invisible leash, seem drowsy and bored... The one thing Liemandt will talk about for hours on end is Alpha School: the teacherless, homeworkless, K-12 private school in Austin, Texas, where students have been testing in the top 0.1% nationally by self-directing coursework with AI tutoring apps for two hours a day.” I suspect Alpha will become an extremely important points of discussion in the country, and this will help you understand how it came to be. And, if you have kids, it will make you wonder if they are being educated in the best possible way, or not.

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