public markets

“In some ways, a smaller social circle of people all doing the same thing can be maybe more of a toxic breeding ground for excess enthusiasm than even a public market can, because they're all talking to each other. They're all talking to each other all day long…”

“The market, the public market tends to ignore things that don't, you know, that, that they can't really promote to be something massive, right? When somebody puts their money into a junior exploration project, they want to see the potential to take your 10 cen…”

“In venture capital, it's a really inefficient market because there is no known universe. You and I could be talking in a private room, and we could decide that we're going to start up a company tomorrow, and nobody else knows that information.”

“Most businesses that are listed don't need access to capital. They're only listed because they're large and they happen to be just, they need owners and therefore they're in the public markets. They're never issuing equity and therefore the Price of the securi…”

“Quarterly reporting, especially in the public markets, is a net negative for companies, for investors. I think it's intended to provide transparency, but it ends up doing short-term thinking.”