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@DadInvest @berkie1 @kwakzing We literally had a whiskey rebellion. Doesn’t get much more Scottish than that.

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@gkamstra I mean, how do you measure the wealth of autocratic heads of state?

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@buccocapital Herr’s Salt and Pepper chips are too elusive.

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@dominicdeecoco Same feelings lately, hang in there.

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The pre-IPO media blitz for SpaceX is impressively orchestrated

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@DadInvest Hope you had some good pepperoni rolls!

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@gkamstra I’m sorry, what?

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@pvtcreditguy 7.9bn in unfunded against $20bn of privates isnt bad. Leaves $36bn in liquid/semi liquid.

More than easily covers.

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@NicoGladia @debt_serious Wooowwwww deep memories awoken. Didn’t go, but some colleagues did.

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@rossium 33%

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@cliffcornell_ Significantly

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@BoringBiz_ I mean, the main effect on this table is just that we have more people…

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I don’t have a ton of points, but even relative to where I’ve seen other space things price in private rounds, this SpaceX valuation is nuts.

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@rhunterh I audibly laughed.

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@bobbyfijan I’ve moved back into a big city from a suburb a year ago and I’ve become pretty anti-dog. You can see the dog piss corrosion everywhere.

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@DadInvest @OldRowSwig @itsmarkmoran Hell yes we do. Mines and cricks

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Still feel good about yourself?

Did any of us feel good about ourself in the first place?

[Sam ⚔️ Financial Samurai @financialsamura]

Curious for those of you who went to an elite university (top 10-25, top 0.1-1% student):

Do you still feel good about yourself if you do not become a top 0.1-1% performer in your field of choice?

For example, a VP in finance making $500K a year versus an MD making $2 million a year at the same age. Or a violinist who never makes it to Carnegie Hall, etc.

Or does the experience of going to a top university continue paying dividends if you end up being average?

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Didn’t this same tweet from Sequoia pretty much mark the ZIRP peak?

[Joshua Kushner @JoshuaKushner]

Today we announce Thrive Eternal, a permanent capital holding company that will be concentrated in a small number of assets that we can own and steward over many decades.

Across Thrive Capital and Thrive Holdings, we are building and investing through a moment of exponential change; backing emerging technologies, the infrastructure that powers them, and the businesses they can transform.

Increasingly, we see a fourth category.

These are assets with qualities that cannot be replicated by technology. Iconic franchises and cultural institutions rooted in tradition, identity, and shared experience. In a world shaped by abundant intelligence where creation scales and distribution fragments, we believe they will matter even more.

Thrive Eternal is built on the belief that the most enduring of these assets share common characteristics: they benefit from long-term stewardship, they compound through cultural resonance, and they are enhanced by technology rather than displaced by it.

Our work at Thrive has always been informed and inspired by a deep appreciation for product, brand, and the ways in which consumers form lasting relationships with the things they love. We have been building towards this for a long time.

Our first partnership is expected to be with the San Francisco Giants - an institution built on more than a century of shared identity and community, and among the most iconic sports franchises in America. We have reached an agreement, subject to league approval, to acquire an ownership stake. We feel privileged by the opportunity to be long-term partners to the Giants.

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@investing_law And even then, in industry lingo generally “hurdle” means no catch up vs. “pref” is with catch up