Click Here for this good interview with the founder of pioneering web software firm browser Netscape and disruptive VC firm Andreessen Horowitz.
Parts I liked best:
Difference & Similarity between VCs and Value Investors [42:25]
"Anything Warren Buffet is willing to invest in, we run screaming in the other direction. He invests in Heinz Ketchup since people have been using it for over a 100 years and therefore it's a good guess that they will continue to do so for the next 100. Basically, he's betting against change and we are betting for change. When he makes a mistake, it's because something changes that he doesn't expect; we make a mistake when something doesn't change.
But what both schools have in common is Original Thinking and the willingness to look at things as they are ("the core of the business") as opposed to what somebody says about them or it's believed to be. Also, Value Investing is the only place in the market where there's Long Term investing."
Importance of Reading Biographies: "Technology changes; people don’t." [22:28]
"While following contemporary stuff is good, I find it more useful to go further back and read (well written) Biographies about Edison, Disney, Ford, Rockefeller, etc."
How he deals with FOMO (fear of missing out) when it comes to investing [38:47]
Why he does not believe AI is going to either kill jobs or people . [48:01]
Parts I liked best:
Difference & Similarity between VCs and Value Investors [42:25]
"Anything Warren Buffet is willing to invest in, we run screaming in the other direction. He invests in Heinz Ketchup since people have been using it for over a 100 years and therefore it's a good guess that they will continue to do so for the next 100. Basically, he's betting against change and we are betting for change. When he makes a mistake, it's because something changes that he doesn't expect; we make a mistake when something doesn't change.
But what both schools have in common is Original Thinking and the willingness to look at things as they are ("the core of the business") as opposed to what somebody says about them or it's believed to be. Also, Value Investing is the only place in the market where there's Long Term investing."
Importance of inculcating a Culture of "Building Things" [44:50]
"Smart People Should Build Things" (based on a book title) and "Be So Good that they can't Ignore You" (from the book Born Standing Up by Steve Martin)
"While following contemporary stuff is good, I find it more useful to go further back and read (well written) Biographies about Edison, Disney, Ford, Rockefeller, etc."
How he deals with FOMO (fear of missing out) when it comes to investing [38:47]
Why he does not believe AI is going to either kill jobs or people . [48:01]
No comments:
Post a Comment