The great irony of technology investing is that the stocks that look the most expensive at the beginning of an S-curve are often the cheapest, and the stocks that look the cheapest at the end of an S-curve are often the most expensive.
Bill Gurley doesn't want a crazy pop on day one, doesn't want it to go up 100%. If we're in 10, 20, 30% range for something this big, that just feels like... Everything came together properly.
This episode makes three earnest, possibly foolhardy, attempts to put a price on the priceless. We figure out the dollar value for an accidental death, another day of life, and the work of bats and bees as we try to keep our careful calculations from falling apart in the face of the realities of life, and love, and loss.
Litigation finance is simply treating litigation claims as financial assets. You know, when you think about what litigation is, stepping back, it's just an effort for the most part to get money to move from one party to another.
Earnings are holding up, but multiples were not. And to me that's really the story because you know if anything estimates have gone higher and you were getting you know the tech sector at the lowest multiple going back to 2022.
Companies don't unilaterally trade at 1x revenue. Like that's that that's sort of a given in this article. It's sort of presupposed that if you're doing 1.8 billion in revenue, uh, you would trade above a billion dollars.
