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Went to an event yesterday where Mark Leonard (founder/ceo of Constellation Software $csu) was the keynote speaker. The discussion was around general business/career advice.
Sharing some of my notes:
Jay Vas
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Jay Vas
@jayvas
Investor @ Atlasview Equity Partners. Here to learn & share my learnings. DMs open.
- Berkshire Hathaway paid $26.8bn in taxes in 2024, which is 5% of ALL corporate taxes collected by the IRS that year. This is Buffett's response to that. Truly a class act.
- Replying to @elonmuskGovernment overreach is getting out of control. Anyone that doesn't see what the problem is here has never experienced abuse at the hands of a government.
- Replying to @BoringBiz_Schwarzman recalling how he got his first job on Wall Street:
- If you invested $10,000 in Berkshire in 1965, it would be worth $109m by 2017. However, if Buffett charged a 2/20 fee structure, that $10,000 would be worth $8.9m. This is why fees matter over the long run, they muzzle the effects of compounding.
- You won’t learn this in your MBA class, but… 90% of “business” is really just constantly following up with people.
- Last week @thesamparr shared Gymshark's financials. They're very impressive, but what stood out the most to me was the £53m cash pile. How could a bootstrapped eComm company w/ rapid growth have this much cash? Answer: a negative cash conversion cycle. Here's how it works 👇
- what’s offensive is sending someone a Microsoft Teams link
- If credit cards get disrupted, the entire airline industry would vanish (or be forced to pivot). Many airline points programs EXCEED the value of the actual airline. Operating flights have become a loss leader for their points program. Merchant fees drive the airline industry.
