Gerardo Morera G.

Founder and CEO @HavocSuits / Angel Investor

[Gerardo Morera G. @GerardoMorera]

@hubermanlab @sleepdiplomat What is the best way to adapt to 8,000 feet elevation if I’m coming from sea level to sleep better? I go to Mexico City twice a month and every time my HRV decreases, my HR increases, and my sleep recovery is terrible. Thank you for your help!

[Gerardo Morera G. @GerardoMorera]

@lifeofbi I think Birkenstock's higher valuation reflects its growth outlook, emerging as a segment leader with ample room for expansion globally. In contrast, Dr. Martens faces tougher competition and holds a narrower niche appeal.

[Bill Ackman @BillAckman]

The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.

[Gerardo Morera G. @GerardoMorera]

@sleepdiplomat do you recommend Eight Sleep to regulate temperature?
What’s your take on contrast showers (hot & cold) before sleep?

[Gerardo Morera G. @GerardoMorera]

@profgalloway Love your positive cynicism dawg! A loss of $635 million on $815 million in revenue. No narrative will save WeWork shitty business model...

[Gerardo Morera G. @GerardoMorera]

“Easy choices, hard life. Hard choices, easy life.” Jerzy Gregorek

[Gerardo Morera G. @GerardoMorera]

@andrewchen Andrew! Thank you for sharing so much in the podcast! Book ordered! What do you think are the best growth strategies for D2Cs? Anything you recommend to read? Thanks!

[Tayler Carraway @roost91]

1/ Last week, we looked at the history of offers to understand from a macro POV how we got to the current offer-saturated climate

Today, we’re diving into the micro side and looking at the 2 principles that drive purchasing behaviors

[ian bremmer @ianbremmer]

This is the United States I admire, and that so many of us today miss.

Do yourself a favor and watch this short speech by John McCain after he lost the 2008 election to Barack Obama.

[Gaurav Sharma @GauravSharma]

The best people to work with are the ones you don't have to follow-up.

Extreme Ownership Mindset.

[Gerardo Morera G. @GerardoMorera]

@andrewchen “The true story” 😉

[Miguel Mier @MiguelMier]

A dos días de terminar la década les comparto una columna que escribí para cerrar el 2015, y que al día de hoy la han leído ya más de un millón de personas. Espero que sea una lectura útil para reflexionar sobre los logros 2019 y las metas para 2020. https://t.co/jrL7Csqx9Z

[Alex Mittal @mittal]

How to succeed in startups (without getting lucky):

[Paul Graham @paulg]

It's 2007, and the New York Times is shocked that Facebook's valuation is nearly half of Yahoo's, and that Google is worth more than IBM.

https://t.co/9KQDF9nFwF

[Garrett Camp @gc]

The Beginning of @Uber... https://t.co/vHYKtqSxQS

[Fernando Lelo de Larrea @ferlelo]

9- @petsymx - no hay e-commerce más contundentemente conveniente que recibir la comida de tu mascota en tu puerta periodicamente y olvidarte del problema.

[Fernando Lelo de Larrea @ferlelo]

1- @benandfrank_mx - lentes con gran diseño y precios justos. Un fenómeno del retail, que muestra que la calidad y la buena ejecución cambian industrias.

[Fernando Lelo de Larrea @ferlelo]

@TroquerMX 6- @Enlightmx - líder en la gran tendencia de energía solar PV. Cada vez más techos en México con páneles solares, y esto apenas empieza!

[Daniel Becker F @DBeckerF]

Este es el recién inaugurado aeropuerto de Estambul, que ya estabilizado pretende transportar 200 millones de pasajeros por año.

[Paul Graham @paulg]

All the best investors I know are more like founders than investors: Fred Wilson, Mike Moritz, Pmarca, Ben Horowitz, Keith Rabois. What do I mean by like founders? Informal, pragmatic, genuinely interested in products and not just in money.