Highlights here.
Part of my process is reading books and I recently finished two that shed light on what later stage startups need to think about — being public.
Most founders know little about it, get a BS class on it from self-interested parties as the time arrives, and some founders get robbed (by debtholders…in my case) when that flank is not guarded.
There a loads of investing books and the best ones overlap a ton – anecdotes that flesh out an approach to evaluating companies and being contrarian enough.
Hedgehogging by Barton Biggs has some things to offer about markets — asset allocators / LPs, ups and downs, burn out, tips, and the types one meets on Wall St.
More generally useful is One Up on Wall St by Peter Lynch, which many say is just the #1 best Wall St book. It might be. I just finished it and already want to read it again. It is meant as a stock pickers guide, but it is effectively a course in how to express and execute strategy so it makes sense to public markets. You won’t find startup ideas here. But you will find the checklist you must meet when you are big – the natural laws you will want to play nicely with. That checklist is like 100 things. At the link above.
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