Tucker

Just finished up at the annual Chasing Greatness conference put on by 68 Ventures. Some incredible speakers and the key takeaways are often the most simple: - Life should be measured in relationships and experiences - Your fondest memories are often of the hardest times. Enjoy the journey - If serving is beneath you, then leadership is beyond you

Top 10% now make up almost 50% of consumer spending. With consumer spending being one of the main drivers of GDP growth, I'm not sure how we keep using it as a proxy for the state of the economy when a decrease in spending from 90% of the population barely moves the needle

@mhp_guy More you have, more you have to take care of. If you have the $8k for this, seems worth it to just pay for install every year

When you buy a forever home you buy forever home things. Today’s its permanent lighting on the front & side of my house. Not cheap! I expect to “break even” in ~8 years. I’ll be able to use them year round and control the patterns & colors from an app. Any guesses how much? 😅

@blknoiz06 Retailer pays the fee with the idea that having Klarna as an option increases pool of customers

how does klarna make money if they charge 0 interest

@great_tweeter Jill is a 15 handicap, his wife. Probably was her actual tee time

BREAKING: The standing Sunday 1:30pm tee time held by Head Coach Hugh Freeze at the Auburn University Club has been CANCELLED. We’ve attached screenshots of the tee sheet change. A shakeup on the plains is imminent.

@BigJohn043 I think it’s just back to the point that VC has become so saturated with only so many deals that these firms are stepping out of their lane in order to find ways to deploy capital…

This is another example of VCs bringing a VC approach to PE and maybe not understanding the risk / return. So the idea here is they are going to create a nifty AI native system that is going to allow accounting firms to achieve higher margins. They are then going to buy a whole series of accounting firms and do a roll-up in the space. So the first issue is can they really create a system that leads to significant savings? And it probably needs to be very significant. 10% increase in margins won't work. So maybe this really works and maybe the savings just aren't game changing. Second, they need to execute a roll up. As a firm that does roll ups I can tell you that they are hard. And while they seem to have hired a CEO with real experience, this isn't what VCs do. Can they evaluate what to really pay for assets? How much SG&A do you add? Are you willing to burn money? How do you work with the acquired branches? How do you get them to use your new software as it has growing pains? But lets pretend they develop a great system and then they execute the roll-up. In months there will be 5 valley SAAS start-ups developing a competing system. One or two those will probably be better than what you developed and they may be much better. And this is all assuming that the existing systems don't just take the best of Crete's software and offer it as the next upgrade to their system. The short answer is you don't have any real moat in the way that most VC home runs do. Other people can develop AI native software as well. Over a fairly short period of time your advantages may get competed away. Now that is fine. You can still make 3-5x your money and have a good deal. Maybe you do even better and make 10x your money. But you are taking huge VC like risks to get there. I think the most important thing for any investment firm is to know who they are. This all strikes me as getting away from that.... reuters.com/business/thriv…

@drgurner Resilience and not giving up is a common sound bite, but it’s incredibly tough when you’re back is truly against the wall

Nothing but respect for the people who come from zero, and decide that there isn't anything that can hold them down. They are persistent, unbreakable people. Social media admires the end results of success, but the most incredible, pivotal moments are often at the beginning.

@TripleNetTyler If it’s a long cc line and I don’t want to have to retype all names then I’ll put a bunch of letters in a row (xxxx) as a new recipient, it will show an error message before accidentally sending

When you’re typing an important email Do you delete the recipient’s name so you don’t accidentally hit send too early Or are you normal?

Just spoke with someone who recently had a PE interview. He said first question was to verbally list out the formula needed for revolver paydown / drawdown. The finance VP bro is one of a kind

I always take headlines with a grain of salt, but this is coming from one of the most impressive M&A bankers I've ever had the chance to work with. Not sure how we get there, but I wouldn't disagree with Ingrassia.

30yr up ~80 bps over the past year...what are the implications heading into the fall?

@awealthofcs 95% of DC doesn’t truly understand it

I doubt ~90% of the country could tell you what the Fed does, let alone understand why central bank independence is important

@jamesonhaslam I’m sure Brad Jacobs/XPO have their eye on it

I need private equity to buy Builders First Source and bring them in the 21st century

@TripleNetInvest I think the news has convinced people that Jerome is evil and holding back the housing market. And while it’s incorrect, some people are 100% waiting to list until he “cuts rates”

It's hilarious that ppl think a couple rate cuts will suddenly unleash a flood of homeowners to list their homes Here's the reality: No one is selling their home and giving up their 3% mortgage But please, keep dreaming

Rereading What it Takes by Schwarzman. One of my all time favorite quotes here on the value of sheer persistence

1. Are you drinking black coffee and 2. Are you working out? During my 84 hour fast I didn’t do either. I think caffeine would have made experience better and my first workout post fast was amazing, figured I should have worked out the whole time. We had different experiences though - I wasn’t hungry after the first day. First day was absolutely miserable but after that it was just annoying that you couldn’t break bread with family or friends. No hunger

65 hours in. In the hurt box! All I can think about is food. Ask me anything 😭

This sounds painfully obvious but worth revisiting after recent encounters with some true characters lately. People do business with those they like AND respect. Not just one or the other…you typically need both. And while there are plenty of smart people out there…there sure are a lot of jerks.

Re-listened to this 50X podcast on TransDigm’s early history today. So many great lessons in this one, but the CEO’s simplification of intrinsic value creation is one I think about often: 1. Prices up 2. Cost down 3. Generate new business open.spotify.com/episode/7mD7j3…