Brad Gerstner: observation

Transcript context

…Yeah, or as you were starting to develop this thesis. You said there's a trillion-dollar enterprise market, trillion dollars of annual enterprise spend, and it's all going to shift. In investing, you need these market dislocations. You need things changing to create these opportunities for new entrants. The second thing was, you asked a question. Was it obvious or whatever in 2012, 2013 when Dev Ittycheria took over Mongo? It was famously hard for him to get that last private round of financing done at a billion dollars. It had taken longer, it was moving slower, but we looked at the product pipeline and we understood what the company was doing. It takes a long time for those companies to spin up, but when those developer communities get going, they're incredibly sticky. As Buffett has said, the best investments, you have to be non-consensus and right. The problem is, being non-consensus is most often wrong. Consensus is consensus for a reason. And there are a zillion things in your life telling you, you should be uncomfortable or in pain when you're doing something non-consensus because you got all these smart people telling you you're wrong.…

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