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Everyone is Talking Their Book

finnmurphy.xyz · 983 words · saved by 3 readers

One thing I've learned over the past seven years of investing is that hearing actual information or real opinions expressed in any public forum is exceedingly rare (you only get it in the group chats). This stems from an acknowledgment by everyone from the likes of Zuck & Ackman to Druck & Thiel that narrative is actually the new oil. And if you want yours to accrue value, you need to be preaching that idealized book at all times. Narrative drives everything in the investing and company-building world today. It always has, but in the current environment, it's more potent than ever. Valuing a business as it is will result in disappointment (RIP the DCF). Valuing a business as it could be brings the power of imagination and belief into the equation—a premium like few others. So the key skill and value that investors can bring to their companies today is not operational support; it is the yarn of a better future and the power to amplify it. When Benchmark leads a Series A, Sequoia pulls D

Why aren't you? One thing I've learned over the past seven years of investing is that hearing actual information or real opinions expressed in any public forum is exceedingly rare (you only get it in the group chats). This stems from an acknowledgment by everyone from the likes of Zuck & Ackman to Druck & Thiel that narrative is actually the new oil. And if you want yours to accrue value, you need to be preaching that idealized book at all times. Narrative drives everything in the investing and company-building world today. It always has, but in the current environment, it's more potent than e

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