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 11 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
Boehly: Dodgers' $2B valuation was justified by investment-grade media rights
“And ultimately, we came to a conclusion that we were very able to pay two billion dollars, because those media rights were effectively an investment grade bond, because you're going to get the offtake from an example, CBS, Fox, Time Warner, all of those partie…”
Boehly: Eldridge avoids investing in China without local presence and edge
“And if you don't have a real local presence, it's why, you know, anyone has said, well, why don't you go buy into China right now? China's depressed, or China's stock prices are down. And it's just like, I don't have any edge. And if I don't have an edge, then…”
Boehly: Eldridge's model avoids selling winning assets to prove returns
“Our model is such that as long as it's compounding and growing, I don't need to sell my winners in order to prove a point.”
Boehly: Start businesses when asset prices are high, buy when low
“And to me, starting businesses from scratch, growing them on the ground floor, when prices are really high, it's cheaper to start a business. And from prices are less high, it might be cheaper and less timely to buy a business. So you have to continuously be l…”
Boehly: Evaluate a business's underlying value before its capital structure
“I really get frustrated when people talk about capitalization and cap structure before they talk about the business, right? I really want to understand the business. I want to understand why it's valuable. I want to understand why it's going to continue to be …”
Boehly: Eldridge generated over $1 billion in earnings in 2020
“Last year we made over a billion dollars.”
Boehly: Eldridge provided financing to assist ARK Invest's equity buyout
“We helped ARK buy out their equity, so we have a financing relationship with ARK.”
Boehly: Eldridge operates without investment committees or closed-end fund structures
“Not investing out of funds, and we don't have investment committees, and we don't have complexity.”
Boehly requires preferred equity when deal counterparties retain operating control
“And I don't need control as long as I have structural seniority. So I tell everyone, if you want control, all I want is then a preferred. If I have control, then I don't need a preferred, but I don't want to give someone else control and not have structural pr…”
Boehly: Eldridge launched by acquiring media and real estate assets from Guggenheim
“But that gave me the opportunity to acquire the media assets, to acquire the real estate businesses, all the stuff that I had been building at Guggenheim that was in its infancy, frankly, because that was not what they wanted and I understood it.”
Boehly: Eldridge tested Replay Technologies at Dodger Stadium before Intel sale
“The very first tech investment we made was something called replay technologies. And replay technologies, it's, if you watch home plate, or if you watch the basketball, or if you watch now football, and they give you 360 degree views, that was a technology tha…”