101
" A good portfolio manager knows which companies to keep and which ones to let go. Many a GP has struggled with portfolio companies that cannot meet their value-creation milestones, or raise additional follow-on rounds of capital, or generate target returns in a time span of, say, five to seven years. The faster you recognize those losses, the better it is.”
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“As David Cowan says, “Just focus on your top five—the rest is distraction.” The harder part of the investor's discipline is to know when to quit.”
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“You have to constantly scan all of those things and be willing to adjust your own sense of what's a reasonable outcome and move the company into a position where it has the maximum chance to succeed. ”
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“Time is your enemy: Portfolio companies always take twice as much capital and twice as long to exit. Early-stage companies rarely meet milestones as planned and always burn cash faster than anticipated. "
― , The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring, Value Creation, and Exit Strategies
111
" Sorry, folks, but the maximum occupancy is seventy-five,” Albert said. Then he spotted Jack. “Jack, how’s it going?”
“What? Oh, fine.” Jack was confused as to how to proceed. He didn’t want to wait in line if Brianna wasn’t even inside.
“You look like a man with a question,” Albert prompted.
“Well, I’m kind of looking for Brianna. We had this…it’s a…tech thing. You wouldn’t understand.”
“Breeze is already inside.”
One of the kids in the line said, “Of course she is, she’s a freak. They always get in.”
A second kid nodded. “Yeah, the freaks don’t wait in lines. Bet she didn’t have to pay, either.”
Albert said, “Hey, she got here a little before you guys did and she waited. And she paid.” Then to Jack. “Go ahead in.”
“See?” the first kid crowed. “He’s one, too.”
“Dude, he set up my sound system,” Albert said. “What have you done for me other than stand here and bust on me? "
― Michael Grant , Hunger (Gone, #2)
116
" I keep finding myself confronted with the question, “What is the aim of man’s life?” and, no matter what result my reflections reach, no matter what I take to be life’s source, I invariably arrive at the conclusion that the purpose of our human existence is to afford a maximum of help towards the universal development of everything that exists.
If I meditate as I contemplate nature, I perceive everything in nature to be in constant process of development, and each of nature’s constituent portions to be unconsciously contributing towards the development of others. But man is, though a like portion of nature, a portion gifted with consciousness, and therefore bound, like the other portions, to make conscious use of his spiritual faculties in striving for the development of everything existent.
If I meditate as I contemplate history, I perceive the whole human race to be for ever aspiring towards the same end.
If I meditate on reason, if I pass in review man’s spiritual faculties, I find the soul of every man to have in it the same unconscious aspiration, the same imperative demand of the spirit.
If I meditate with an eye upon the history of philosophy, I find everywhere, and always, men to have arrived at the conclusion that the aim of human life is the universal development of humanity.
If I meditate with an eye upon theology, I find almost every nation to be cognizant of a perfect existence towards which it is the aim of mankind to aspire.
So I too shall be safe in taking for the aim of my existence a conscious striving for the universal development of everything existent. I should be the unhappiest of mortals if I could not find a purpose for my life, and a purpose at once universal and useful… Wherefore henceforth all my life must be a constant, active striving for that one purpose. "
― Leo Tolstoy