The Think Like an Owner newsletter is a compilation of my thoughts on investing in and operating small companies, published every other week. In the newsletter, I also share interesting and relevant resources I recently came across.
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Good CEOs drive narrative, they are storytellers. The value of being a good storyteller for a public company is obvious since a huge portion of a public company’s value comes from its perception by others. In small companies, is the same true? Are owner-CEOs storytellers and can good storytelling increase the intrinsic value of their business?
How concentrated is one private company and can most of the risk diversification aims to reduce be achieved within one company?
I have an announcement…
In May last year I graduated from University of Portland and last month passed without my realizing the significance. Since graduating, I’ve released 12 podcast episodes, written 27 Tailwinds editions, my 2019 Annual Letter, and gained a small following on Twitter.
One closing question I ask podcast guests is, “What’s a belief you used to hold strongly and have since changed your mind on?” I like this question because it shares some insight into how our views change with time and experience. Well, when it comes to the podcast, there’s a belief of my own that has shifted since starting the project.
Coming up with a name for your firm is really fun and I think it’s worth spending time thinking of one that fits well and you can be excited about. After all, you need a name you can be proud of for many years. Some feel that there are more important things to work on in the early days of creating your firm, but I think a name is vitally important to get right and worth the time spent.
Last year I listened to Patrick O’Shaughnessy’s interview with Matt Clifford who runs Entrepreneur First, an investment firm that helps people leave their current jobs, find a co-founder, and start a company. I find the model fascinating and have wondered how this strategy could be applied to individuals acquiring companies rather than starting them?
Permanent Equity, KKR, Will Schoeberlein, Tim Ludwig, Li Lu, Erik Berg
Cash Flow Cowboy, Tim Ludwig, Andrew Wilkinson, Ari Ozick, Michael Burry, Adam Keesling, Slate Star Codex, Oregon whales
Brent Beshore, Polsky center, Andy Ellis, Chenmark Capital, Macro-Ops, Grant Thornton, Wendover Productions, Adam Keesling, Kelie Morgan
Each year I write an annual letter to readers and listeners to reflect on the evolution of the podcast and my personal growth.