The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 5 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Successful M&A deals never look expensive in hindsight
“I completely agree with Peter. If you do a good M&A deal, no one's ever looked back and said, how much do we pay? It's just smiles and congratulations.”
Founders should sell if acquirers pay expected future value today
“The general rule of thumb is that if someone is going to pay you today what you think you're reasonably going to be worth well into the future, then sell now.”
Active internal sponsors are crucial for post-merger integration success
“The single most important element we found for a successful integration is that we have an engaged deal sponsor from the Google side stay intimately involved with the company after closing until it's fully integrated.”
Founders should disclose deal gotchas early in M&A diligence
“And then likewise, we encourage founders to let us know in advance of any potential gotchas early in the process. We're likely going to find out about them anyway. It's always better to address them upfront earlier rather than later as surprises.”
Post-acquisition operating alignment matters more than closing the deal
“Although it's important to focus on getting the deal done, it's equally or even more important to jointly agree on how your company's going to operate within Google after closing. So in other words, the wedding itself is important, but more so is the marriage …”