Ben Gilbert: belief

Transcript context

…In fact, the institutions have been locked out until now because the scale isn't big enough for them to participate. Yeah. Put another way, asymmetric upside opportunities are typically only available to, frankly, wealthy people. Venture capitalists, those who invest in venture capital funds, accredited investors, people who are able to get in really on these companies that could be the next Amazon. Very rarely is there a public company that has that kind of upside left in it. Of course, Amazon is the example where there actually was that much upside left in it. People are perceiving that to be the case with Tesla. But I think the point you're making is that like, oh my gosh, look at this. This was a retail investment available to consumers at any scale and it proved to have this type of asymmetric upside. When I say asymmetric upside I mean sure, you're going to invest in a stock, and oh my god, if that stock 10Xs, that would be amazing. Almost never are you going to buy a stock and it's gone 1000X the way that Sequoia did with Airbnb. I don't have the number off the top of my head but in that sort of order of magnitude. Yeah. I think that's interesting.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.