Baumgartner: Top PE and VC firms possess structural franchise power
Mark Baumgartner · Mark Baumgartner – Luck, Risk and Uncertainty at the Institute for Advanced Study (Capital Allocators, EP.77) · Nov 26, 2018 · at 46:42
Mark Baumgartner, CIO of the Institute for Advanced Study, discusses business power frameworks applied to persistent top-tier private equity and venture capital managers.
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“And the ones with persistent good performance and venture as well, they're incredibly powerful businesses. They're franchises. They have access to deals. They have all sorts of levers of power. They control their suppliers and they control their customers, right?”
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