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 12 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
Singlehurst: China remains a massive investment opportunity
“I think it does. I think it does remain a big opportunity.”
Singlehurst: VCs use operational services as air cover to justify high fees
“There's a sort of industry of using that as kind of air cover to carry out quite a lot of window dressing around sort of so-called value creation in order to justify very high fees”
Singlehurst: The London Stock Exchange is in a dire state
“Yeah, I do share the sentiment that we're in a dire state for the London Stock Exchange, and I think.”
Singlehurst: LSE suffers from dual supply and demand crises
“I think it's a combination of there not being loads of amazing high growth companies in the UK, enlisted in the UK, so there's a supply problem, and I think there's a demand problem as well.”
Singlehurst: Baillie Gifford wouldn't buy OpenAI, Grok, or Anthropic currently
“I think at the moment I would say that I would buy none of them. And it's not because I have a particular, and it's not because I'm critical of those businesses. It's because I don't know what the answer is to enduring competitive advantage at the large langua…”
Singlehurst: The public-private market divide is an artificial financial construct
“I really think that the public private divide is an artifact of the financial universe rather than anything that you would come up with if you were thinking about investment or company formation from first principles.”
Singlehurst: Europe should establish a unified growth stock market
“Yeah, I think we probably should.”
Singlehurst: Carried interest and fixed fund lifecycles force misaligned exits
“When you get into the tail years of limited life funds, I worry that you start to get misalignments of interests. I also worry that traditional carried interest structures can drive misalignments of interest because of the value that can flow to individual inv…”
Singlehurst: Bending Spoons' moat is M&A integration and shared services
“It's a business strategy, and it's, ah, it's an approach to how you are able to integrate a business that you've acquired into a shared set of services and tools that you've built out to enable those businesses to grow and become even better products, and, you…”
Singlehurst: SpaceX has an amazing management team beyond Elon Musk
“The thing that people forget about SpaceX is that there's an amazing management team there that is not Elon Musk.”
Peter Singlehurst: Growth equity capital availability is in an optimal golden mean
“But the final thing that I think is really important for like why now is an amazing time for growth equity investing is we're in this period of capital where there, and yes, taking the conversation we had earlier around there are some parts of the market that …”
Singlehurst: Bending Spoons achieved high profitability by avoiding overcapitalization
“I think that's an amazing example of this company that was largely bootstrapped Has created the most amazing scalable business model profitability like most companies would give an arm for. And they did it by sort of circumventing that, that world of over capi…”