The Ledger
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Sacerdote: Blockchain is a technology looking for a problem and a false S-curve
“It was always a technology looking for a problem. The use cases were few and far between. Also, there was an element of it where there were all these meme coins, and it wasn't solving any true productivity gains. We thought that was somewhat of a false S curve…”
Sacerdote: Whale Rock bought Nvidia in January 2023 at 4x forward earnings
“And similarly, we loaded up on NVIDIA right after ChatGPT in January, 20, 23. We were buying NVIDIA at four times the earnings they're going to do this year.”
Sacerdote: Stablecoins are a true S-curve technology for moving money
“Stablecoin, that's a true S-curve. It's so efficient way to move money around, so that's actually one that we're very much focused on now.”
Sacerdote: Whale Rock bought Tesla at 4x three-year forward earnings
“When we first bought Tesla at the end of 2019 and 20 20, when the EV S curve really took off because Elon got the price Of the model three down to 40,000. And then we saw they had very good competitive advantages. We said, wow, they can do two million cars at …”
Sacerdote: Whale Rock Concentrates 55% of Private Book in Four Companies
“We're fortunate in that it's about 10% of our capital and 55% of that capital is in four iconic leaders that really fit this framework well.
Stripe, which is dominating digital cloud-based payments.
Canva, which is next-gen cloud-based Adobe.
Databricks, which…”
Sacerdote: Whale Rock holds 60% of portfolio in its top 10 positions
“We will buy something up to 10% at cost, and then we'll let it get up to 15%, and usually it's reserved for larger companies... Usually we'll have one name at 10, and then we'll have a handful at seven or five and The top 10 will be 60%.”