Hey Everyone,

Hope you're having a great week. Here are a few things I've been reading, writing and pondering lately. Enjoy!

1. The Work Required to Have an Opinion


H/t to my coworker Haley Bryant for putting this great article on my radar.

Charlie Munger used to say something along the lines of “You’re not entitled to take a view, unless and until you can argue better against that view than the smartest guy who holds that opposite view. If you can argue better than the smartest person who holds the opposite view, that is when you are entitled to hold a certain view.”

2. Which Way Do You Run?


Another one from Haley.

Your last round’s valuation was high and valuations have fallen. Your topline growth is a bit lower than expected and your spend rate is as planned. You can feel that’s going to be a big problem. Do you intellectualize it away? “We’ve got a great new product release coming and we’ve gotten great press lately. We can make it up this quarter” or do you run towards the terrifying situation and try to figure it out now?

3. How Do You Like We Now


This article about WeWork by Bloomberg’s Matt Levine is gold.

Son: You’re crazy! I love it! But could you be, say, ten times crazier?
Neumann: You’re going to invest $10 billion in my company, which I will use as kindling to light the whole edifice on fire, and then when we are both standing in the ashes you will pay me another billion dollars to walk away while I laugh at you.
Son: All my life I have dreamed of meeting someone as crazy as you, but I never really believed this day would come.
Neumann: I’m gonna use your money to buy a mansion with a room shaped like a guitar, where I will play the world’s tiniest violin after all your money is gone.
Son: YES PUNCH ME IN THE FACE.
Neumann: Also I’ll rename the company “We” and charge it $6 million for the name.
Son: RUN ME OVER WITH A TRUCK.

4. YouTube Channel of the Week


I have no idea how I found this but it’s fantastic. This guy has an off-road towing business and documents each job on YouTube.

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Have a great weekend!


Jimmy

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