capital allocation

“I think the very central idea that, you know, like sort of markets are better than markets, individuals better than institutions, et cetera. You know, I do, I think that's dead, and I think the world really wants institutional, wants to go back to sort of inst…”

“If your model is forecasting low, that's as big a problem for your ability to actually allocate your capital in a really smart way as if your forecast is coming in wrong the other way.”

“When I was in private equity, I was the associate in charge of handling sort of the mail would come in and you get. 15 companies to look at and you'd pick one and you'd go bid and there'd be 50 other bidders on that. And that just never struck me as an efficie…”

“Really talking to CFOs on the ground and CEOs on the ground is really where you understand where the pressure points are in a system, and it actually helps you allocate capital better.”

“Is there diversity on the board? Again, not because it's the right thing to do, because it's the right business thing to do. It leads to better risk management. It leads to better capital allocation.”

“I think in a software business, product development is your capital allocation function. How you determine how you deploy your engineering resources is your, the idea of being a great capital allocator.”

“It's just terribly inefficient to have any doubt, like zoom in and make these microscopic decisions about who to hire or like an individual person's salary or stuff like that. It's just crazy to me. Instead, they need to allocate to basically an entrepreneur, …”

“And so you can write the best write up you want, make the most amazing model that's accurate down to the penny. But if management goes out and blows all their cash on a terrible acquisition, they just destroyed a tremendous amount of value. So getting to know …”

“They're generally better managers, and they're generally better at capital allocation than you see outside the US.”