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.
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Singlehurst: Baillie Gifford expects 5x ByteDance return despite US TikTok ban
“I mean, like, our base case is that it does get banned, and we still see a path. After making at least five times our money, even with TikTok not being part of that investment case.”
Singlehurst: Uninformed investors will create hardship for startups in downturns
“I think the sad thing about that is the people that will suffer from that is, is the companies themselves, because they will have ended up with shareholders who don't fully understand what it is they've invested in. And that's kind of fine when everything's go…”
Singlehurst: Pre-AI companies with hard-to-replicate products will remain exceptional
“I think there's a possibility of that, but I would say that there will still be companies that, that are from that sort of pre AI era that will still be exceptional companies because they have a particular way of building a product that is just very difficult …”
Singlehurst: Baillie Gifford will always invest at 30-50% chance of 5x
“If something is in the range of 30 to 50% probability of going up fivefold, well then we'll take those bets every time.”
Singlehurst: ByteDance will eventually go public in Hong Kong or US
“I think it'll be public at some point. I think either in the US or Hong Kong, obviously one of those is probably a little bit more likely than the other.”
Singlehurst: Private company secondary exchanges will not work
“I don't think we'll end up in a world where you have sort of exchanges for private companies. I think you just have too much complexity in the share class structures. You have, you know, things like rofers, you have like company control. I can't see those exch…”
Singlehurst: Consistent institutional growth investors won't double or triple in number
“But, you know, I think we're already at the stage where there are a handful at the growth stage of, you know, let's call it 10, maybe you get to 20, of institutions that are consistent presences in this part of the market. And I could probably name you those. …”