David Rosenthal: belief

Transcript context

…That’s right. And what is this, in 2010 Skype filed with the SEC to raise 100 million. They had actually filed to go public, filed an S1. I think that was probably the plan at spinout when Silver Lake and Andreessen and the other folks invested in Skype and the spinout was that with some cleanup led by Tony Bates and others that this could be a standalone public company. Yeah. On to tech trends, I think that it’s interesting… this is a good foray from what we’re just talking about. It is interesting to note for listeners that we keep seeing this pattern over and over again where a company gets bought right when it was about to raise a bunch of money like Instagram, or somebody’s out looking to do a rollup strategy and then they get bought because an offer was put down on the table to stop them from doing that rollup strategy. And in this case, it was their preparing an IPO and that made them a really great takeover target. And it’s really interesting to see. My first tech theme is that a lot of times whether it’s you’re about to make acquisitions, you’re about to IPO or you’re about to get bought, there is a little bit of like a leverage game going on where you pursue concurrent tracks at the same time in order to make sure that the pressure is on for whichever one you want to happen to happen.…

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