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 10 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
Gerstner: Altimeter deliberately avoids competing to lead Series A rounds
“First, I don't want to compete in that first round of institutional capital.”
Gerstner: Altimeter's first trade in 2008 was buying Priceline at $42
“We launched on November first, 2008. The first trade I made was into Priceline at 42 dollars a share.”
Gerstner: Altimeter held its initial $42 Priceline position to $2,000
“I still owned it when it hit 2000 dollars a share.”
Gerstner: Facebook became Altimeter's largest position when it hit $7 in 2012
“I remember Facebook became our largest investment in 2012 when it went on the cover of Barron's at seven,”
Gerstner: Altimeter tested beta Snowflake on its own data before investing
“Over Christmas I'll replace our data warehouse with this, you know, with Snowflake, which was non-GA at the time, right? It was in beta with a couple companies. Wow. And so we did that, and he's like, this is gonna win. Like, this is the winning arc.”
Gerstner: Altimeter invested in ByteDance at a $10B valuation
“ByteDance we invested in at ten billion dollars, ok? Today it's marked, you know, somewhere between 350,000,000,500 billion, depending on which crossover fund, you know, you look at.”
Gerstner: I day traded a $25K inheritance to fund grad school
“Now, my grandfather, who I mentioned, left me 25,000 dollars when he passed away. And I day traded that 25,000 dollars to put myself through law school and business school.”
Gerstner: PAR invested $20M–$30M into Zillow Series B at ~$200M valuation
“I think, I'm trying to think the check size, we may have put in 20 to thirty million bucks, and if I recall, it was a couple hundred million dollar valuation.”