Evidence receipt / belief
Published · transcript-backedSpeaker unverified: belief
3 Nov 2021 Acquired Complexity Investing & Semiconductors (with NZS Capital)
“The classic example would be Amazon in 1997 when they went public, I think around a billion dollar valuation.”
— Speaker unverified
Source trail
Everything needed to verify it.
- Speaker
- Speaker unverified
- Attribution
- Not verified from this transcript
- Claim type
- belief
- Recorded
- 3 Nov 2021
- Publisher
- Acquired
Transcript context
…What are some examples of those? There are a couple of those. The classic example would be Amazon in 1997 when they went public, I think around a billion dollar valuation. Nobody could have foreseen AWS. That wasn't anybody's DCF. They're going to also create infrastructure that everybody in the world is going to use to create businesses. They sound so silly, right? Another one that we had in the portfolio years back was eBay. I don't know if you guys remember the marketplace business was struggling. They brought in a new CEO, John Donahoe. They had PayPal, and really you weren't paying for any of PayPal. If the marketplace business would recover that more than cover the cost of entry. Of course, marketplaces did recover. PayPal ended up being great, John Donahoe is an amazing leader, and that was a classic route thus far. In that situation, you've got a fairly resilient business, or the hope is that the marketplace is a resilient business, then PayPal is the out of money option that you sort of have that's being valued at zero, but clearly is a very valuable business.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.