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Jim Swartz Is Exiting Overvalued Assets Ahead of Expected Market Crash

Jim Swartz · 20VC: The Memo: Bill Gurley, Doug Leone, Keith Rabois; Investing Lessons from Prior Busts, How Their Investor Psychology Changed, What Can Be Applied To Today's Market · Jun 29, 2022 · at 7:16

Jim Swartz was not on this episode. A recording of them was played into it, so these are their words but not an appearance on 20VC. It still counts as said, and it is kept out of every score on their page.

Jim Swartz, co-founder of Accel, discloses his investment management tactics during periods of inflated asset valuations.

0:00 / 0:10exact quote · 11.0s
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“I'm behaving like there's a major crash coming and whatever opportunity I have to get out of very high priced assets I do, but I'm continuing to invest and continuing to plow back.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Jim Swartz

Opinion
Swartz: Believing current asset bubbles are 'different this time' is bullshit
“That's the key word. It's different this time. Yeah. Bullshit. I can't believe Arthur actually said that. It's different this time. He's bought into it.”
Jim Swartz Nov 8, 2021 ▶ 17:11 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Opinion
Swartz: Modern Monetary Theory is crap
“Modern monetary theory, which is crap.”
Jim Swartz Nov 8, 2021 ▶ 15:38 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Prediction Held up
Swartz: The market is at the beginning of a new cycle downturn
“Money's just being thrown against the wall, so there's been no countervailing force to trigger the cycle. I personally think we're at the beginning of one right now, but we'll see.”
Jim Swartz Nov 8, 2021 ▶ 15:47 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Assertion Contradicted
Swartz: Tech revenue multiples in 2021 are 3x to 5x historical peaks
“We're at three to five X where we've ever been in our lifetime in terms of price to revenue of companies, three to five X where we were at the peak ever before”
Jim Swartz Nov 8, 2021 ▶ 20:06 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Disclosure
Swartz: Selling high-priced assets expecting an imminent market crash
“Personally, I'm behaving like There's a major crash coming. And so whatever opportunity I have to get out of very high priced assets, I do.”
Jim Swartz Nov 8, 2021 ▶ 21:24 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Insight
Swartz: 100x revenue valuations are unsustainable and subject to mean reversion
“Everything reverts to the mean at some point. And, you know, a hundred times revenue is just not sustainable.”
Jim Swartz Nov 8, 2021 ▶ 21:48 20VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
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