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 25 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 is buying OpenAI shares despite negative market sentiment
“I'm a buyer of the shares today, notwithstanding all of the vibes that you describe.”
Gerstner: Lawmakers say standalone U.S. tech visa reform is dead on arrival
“I sent that to two members of Congress, a Democrat member of the house, a Republican member of the Senate. And I got back nearly identical answers from both of them. They said no chance that happens here dead on arrival because nothing's going to move until we…”
Gerstner: Altimeter will not join startup deals at 75x ARR
“If somebody calls me up tomorrow and says, Hey, Tiger's doing this deal at 75 times ARR. Do you want to do it? They would have to pry the dollar out of my fucking hand with a crowbar. I'm not risking my money or my partner's money.”
Gerstner: Altimeter passed on Airtable's last three funding rounds
“We passed on this in the last three funding rounds, right? Which I think we're at 2,000,000,005 1,000,000,011 billion.”
Gerstner: Altimeter would buy at scale in Anthropic and OpenAI IPOs
“But today, as I sit here today, Altimeter would be a buyer at scale and at size in both of those IPOs.”
Gerstner: Altimeter is selling private holdings into secondary market demand
“We are selling into this.”
Gerstner: Altimeter distributed MongoDB shares before it grew to $50B
“10 years ago, we invested pre-IPO at a billion dollars. We distributed the shares, I think, at three or four billion, and then it went to fifty billion over, you know, the course of the next 24 months, and we had people who called us who said, well, why didn't…”
Gerstner: Over 80% of Altimeter's portfolio exposure is in AI and compute
“80% of our exposures or more have been in compute, AI, memory, et cetera.”
Gerstner: Altimeter tracked zero tech IPOs in 2023 year-to-date
“We're one of the major buyers in tech IPOs, so I just went to the team and said, how many IPOs were we tracking and did we consider participating in during these years? So that was 46 in twenty-twenty. A hundred in 20, 21. Three in 20, 22 and zero year to date…”
Gerstner: Altimeter bought Meta during 2022 public market collapse
“In 2022, we had this massive correction in the public markets. We believed that they overshot. In part, we believed that because we didn't think we were going to have hyperinflation forever, et cetera. And so you and I invested in, you know, Meta and a lot of …”
Brad Gerstner reveals Altimeter bought back Google stock around Google I/O
“I said on CNBC that we had sold our shares. We bought back some of the shares around Google IO because we do think they're going to be a player.”
Brad Gerstner reveals Altimeter halted new venture investments in October 2021
“We stopped making venture investments in October of 21. Principally because of how we felt about public markets at that point in time.”
Brad Gerstner reveals Altimeter Capital has passed on over 60 AI startups
“We have a huge anti-portfolio for AI. It's painful. We've said no to over 60 companies, right?”
Gerstner: Altimeter Capital holds 90% of its portfolio in 5-10 companies
“We've got 90% of our portfolio in our top five or 10 companies.”
Gerstner: Altimeter portfolio company Lacework is laying off 300 employees
“The second company on that list, Lacework, an altimeter software company that's doing terrific, growing hundreds of percent, laying off 300 people, 20%, right?”
Gerstner: Altimeter is withholding investment from late-stage private rounds
“You couldn't pry a late stage dollar out of my hand right now because I don't think that we have real price discovery going on.”
Gerstner: Altimeter cuts exposure and consolidates into 5 to 6 positions during downturns
“And so, for us, in moments like this, and I've lived probably through five of them in the public markets, we always do the same thing. Degross. Take risk down. First thing is, like, have less chits on the board. Number two, reduce the number of outliers. Pull …”
Gerstner: Investors should deploy only 30% of fresh capital in current market conditions
“So if I had a stack of a hundred, I may put 30 to work today. I'm never gonna pick the bottom, I'm never gonna pick the top, But I certainly wouldn't be putting it all to work.”
Gerstner: Altimeter has billions invested in both Anthropic and OpenAI
“No, we've got billions of both companies.”
Gerstner: Altimeter reduced market positioning to medium-small
“Early in the year when we were worried about tariffs, altimeter was positioned small, right? By May, we thought they would land the plane with the best in consensus, you know, on trade, we'd get the big, beautiful bill passed, and we went to kind of extra larg…”
Gerstner says All-In hosts held political dinners for Khanna, Manchin, and DeSantis
“The truth of the matter is this group has hosted dinners for Ro Khanna, for Senator Manchin, We've hosted dinners for DeSantis, right?”
Gerstner: Altimeter hasn't bought private secondary shares because prices remain too high
“So why hasn't Altimeter purchased any of this? Because the prices aren't low enough. To induce me to get off the sidelines to purchase the shares”
Gerstner: Altimeter bought more OpenAI shares
“I bought a lot more since then, Jason. I bought a lot more since then.”