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 6 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
Wang: Only trim stocks when valuations get 18 months ahead of fundamentals
“I tell my team, don't tell me if, you know, ServiceNow is 10% too expensive. If we have a three to five year investment hold period, you know, 10%, if you get six months ahead yourself in terms of the pricing, it's not going to impact your IRR that much. Where…”
Wang: VC partners dictating public fund investments guarantees failure
“Now, when I speak to other VCP funds that reached out to me over the years to get advice about launching a similar effort They almost never want to give up control. They want to dictate the investing. And I just don't think that's a recipe for success.”
Wang: Tech companies can no longer IPO with high burn rates
“The, you know, the days of rule 40, you're going out at 60 -20, those are gone. You have to be a 30 and 10, 40 and zero kind of growing into a nice profitability curve in order to get public.”
Wang: Preserving optionality is the most expensive mistake young professionals make
“I think that optionality is the most expensive thing you can buy. So both financial options, but also more importantly, life options. So too many young people spend too much effort focused on preserving optionality in lieu of actually making decisions. So I fi…”
Wang: Public tech markets exhibit power law returns without needing heavy leverage
“You could take leverage, but then you're taking more volatility and I just don't think in technology where you already have a lot of beta, you already have a lot of volatility. You don't need to take a lot of you don't need to take a lot of leverage, especiall…”
Wang: Public market advantage is measured in months, not years
“I think it's important to be early, but if I think about the public markets, we're talking about not years, but months, right? If you are, because the public markets price something so quickly, if you figure it out last year, that hyperscaler CapEx was going t…”