BC BUSINESS
Saved by @Alex1Powell

I’m a firm believer that more & more entrepreneurial ‘builders’ will evolve their operating company into a HoldCo

Scaling initial capital light successes (like a service co) & redeploying cash flow into concentrated bets leveraging existing know-how, infrastructure, & expertise

 Why?

- lower barriers than ever to building asset light/capital light co's
- existing co infrastructure makes acquiring/building another co easy
- more non-dilutive funding options available
- talented operators/investors can use brand, capital, & know-how to scale meaningfully
But first… what is a HoldCo?

It’s fancy term for “holding company” which is an entity that owns/controls the assets of other different companies
Most HoldCo portfolio companies operate autonomously... with their own team, balance sheets, systems, processes etc.

Major capital allocation decisions are performed at the “TopCo” (ie, primary owners of the HoldCo)
Most HoldCo’s are C-Corps due to structural/tax advantages, but sometimes you see them operate as LLCs

Distributions to shareholders are less common, w/ free cash flow used instead for new acquisitions, spinning up new products/services, or using for existing portfolio co needs
How do HoldCo’s get their start?

A common route is starting w/ a capital light co & using excess cash flow to invest in new companies or spin up new products/co's under same entity

Its a natural evolution of owning a great company where excess cash is put to best use outside co
What are the benefits of the model?

- FCF can be effectively deployed to highest value-creation activities

- Stronger dealflow/network/resources due to spending a lot of time in a given service/product/space

- Capital deployed in co's/industries you already understand deeply
I’m always blown away by PE firms flipping companies so quickly… they spend all that time to know the team, company, & industry...

... yet they flip in 2-5 yrs to then start all over again by selling and moving onto the next investment
What are HoldCo examples?

- Tiny Capital
- Chenmark
- Berkshire Hathaway
- SureSwift Capital
- Social Capital
- Constellation Software
HoldCo’s can be all shapes and sizes, but what separates the good from the great:

- expert capital allocation

- ruthless focus (industry, business models, trends)

- have an edge in driving value creation

- typically wear two hats... dynamic operator + good deal nose investor
Most HoldCo’s execute on a playbook of building expertise & distribution before product…

1. Start, acquire, &/or scale an asset light/capital light service co
2. Discover pains/needs/wants in that industry or type of model
3. Deeply understand where the industry is going
4. Productize and brand your know-how through existing co
5. Acquire & build new products/services to add scale and diversification
6. Rinse/repeat through effective capital allocation
For those interested in being a co-founder within a HoldCo focused on digital assets in the pet space… shoot me a note!

DM or contact info here: https://t.co/KIwrnugHsD
I love 'arming the rebels' & its a unique opp for someone who wants to:

- loves building great (effective) product
- looking for a capital allocator/biz builder to supplement technical chops
- stay entrepreneurial but sophisticated investing
- build a LT portfolio+own economics

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Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193
Billy Bostickson 🏴👁&👁 ...
@BillyBostickson
An "Aquarium" needs cleaning in my opinion, but who am I, a mere monkey, to give advice?
Astonished at what @bellingcat discovered about GRU & FSB operations
Skripal https://t.co/PzH3a7JZvy
Navalny https://t.co/eZi63UhWw1
FSB https://t.co/sViYk9RwmB
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A great post by Ilya Yahin on

Every time Putin talks about “our special services,” his signature smirk appears on his face, and in his words there is poorly concealed bragging
"Of course, we knew everything in advance"
"Yes, we are looking"
"Mercader has already been sent"
“World-class professionals”

Putin clearly loves all these spy games. He is very proud of the special services and therefore endlessly increases budget funding for them.
This is his top priority.
The elderly dictator cannot understand one thing:

there are no effective special services in a state that is completely corroded by corruption. You won't have honest professionals at your fingertips if your son-in-law buys shares of a state company for $ 100, the real value of which exceeds $ 380 million.
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\U0001f1ef\U0001f1f5 \U0001f1e9\U0001f1ea JK Trump Supporter Japan\U0001f1fa\U0001f1f8
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🇺🇸#TreasonAgainstAmerica 1/12


🇺🇸#TreasonAgainstAmerica 2/12


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Corporate Machiavelli
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@corporatemach
THREAD:

Employees vs Employers

“We who toil for other people have all in some way been captured by pirates and sold into slavery.” –Law 24

It should be said plainly; employment is nothing more than the next step in the evolution of slavery.

The corporation you are employed by has a psychopathic level of indifference as to whether you live or die.

This is not Leftwing political rhetoric; it is a machiavellian reality you will have to contend with.

Your employer is not your ally; they are your adversary.

It is in your best interest for wages to be as high as possible, while it is in your employer’s best interest for wages to be as low as possible.
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Hassan W. Bhatti
Hassan W. Bhatti
@hwbhatti
There are 100s of threads on building and running startups.

Here are 10 that are pure gold:

Fund-raising is hard for all of us.

@justinkan shares some unique insights on how to do it well.


We rarely hear honest reflections from founders on what they messed up.

@apartovi shares his reflections on a deal that went wrong with Steve Jobs.


Some gems in this thread by @agazdecki on a wide variety of founder


shares some solid principles learned from building a multi-billion dollar business.
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Nadya Ivanova
Nadya Ivanova
@nadyaivanova
Big congrats to @nonfungibles on releasing their 2020 Annual Non-Fungible Tokens Report! @NathalieBcht, @latelier & I thoroughly enjoyed partnering with them on it: https://t.co/uNvX18GcQV.
Some key takeaways from the report & my personal observations a/t #NFTs. A long-ish 🧵👇:

MARKET SIZE: The NFT market had a historic 2020 - tripled in value, reaching $250m (in terms of value of all #Ethereum transactions on chain, so actual market size is even bigger). This is rapid growth for a space that’s just a few years old.


Market is still volatile & prone to speculation but more sophisticated use cases are emerging based on utility, community, competitive elements. All are prerequisites for a more mature market. For all the hype around crypto, it is #NFTs that offer some of the more promising uses.

USERS: # of users transacting NFTs is up. So is interest in NFTs more broadly - using Twitter activity as a proxy, the uptick in interest is clear & rose 5x in Nov 2017- Sept 2020 (similar trajectory for #DeFi btw). BUT it's important to remember this is still a niche ecosystem.


PROFIT: Some NFT #Traders are commanding profits in the 100s of thousands. Again, this is still a niche activity. There are high barriers to entry (incl. technological) for non-crypto enthusiasts + asset prices are going up very fast. It's still hard to price and value NFTs.
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THE NOTICEABLE SIGNS OBSERVED ON IMPENDING DEATH(मृत्यु के संकेत या चिन्ह)

As per Skanda Puran, Kartikeya had narrated to Muni Agastya about the signs of the coming death. This is as per this ancient scripture.


If one experiences the air coming out of right nostril continuously then it is observed that the person dies within three years. If the breathing is continuous towards upper side from both the nostrils, then the person can die within two three days.

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MINUTE DETAILS ABOUT THE ATTACK ON SHAISTA KHAN AT LAL MAHAL

Remarkable Commando op

A long 🧵 but worth your time

Aurangzeb sent his maternal uncle Shaista Khan with powerful army over 1,50,000 on the request of Badibegum Sahiba, Adilshahi sultanate

1/


Shaista Khan entered Deccan to kill Chhatrapati Shivaji Maharaj & to destroy his empire. Shahista Khan captured a lot of province and fort of Chakan near Pune.

2/


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3/

1. In the April 1663 Chhatrapati Shivaji Maharaj personally made a surprise attack on Shahista Khan in the Lal Mahal Pune.

2. Chhatrapati Shivaji Maharaj attacked with 300 soldiers at the midnight while Lal Mahal had strong security of 1.5 lac soldiers for Shahista Khan.

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3. He entered in Pune, he made a drama of wedding ceremony to enter in Pune near Lal Mahal.

4. During the night they made big hole at the wall of Lal Mahal and entered into the palace.

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From today, we will memorize the names of 27 Nakshatras in Vedic Jyotish to never forget in life.

I will write 4 names. Repeat them in SAME sequence twice in morning, noon, evening. Each day, revise new names + recall all previously learnt names.

Pls RT if you are in.

2

Today's Nakshatras are:-

1. Ashwini - अश्विनी

2. Bharani - भरणी

3. Krittika - कृत्तिका

4. Rohini - रोहिणी

Ashwini - अश्विनी is the FIRST Nakshatra.

Repeat these names TWICE now, tomorrow morning, noon and evening. Like this tweet if you have revised 8 times as told.

3

Today's Nakshatras are:-

5. Mrigashira - मृगशिरा

6. Ardra - आर्द्रा

7. Punarvasu - पुनर्वसु

8. Pushya - पुष्य

First recall previously learnt Nakshatras twice. Then recite these TWICE now, tomorrow morning, noon & evening in SAME order. Like this tweet only after doing so.

4

Today's Nakshatras are:-

9. Ashlesha - अश्लेषा

10. Magha - मघा

11. Purvaphalguni - पूर्वाफाल्गुनी

12. Uttaraphalguni - उत्तराफाल्गुनी

Purva means that comes before (P se Purva, P se pehele), and Uttara comes later.

Read next tweet too.

5

Purva, Uttara prefixes come in other Nakshatras too. Purva= pehele wala. Remember.

First recall previously learnt 8 Nakshatras twice. Then recite those in Tweet #4 TWICE now, tomorrow morning, noon & evening in SAME order. Like this tweet if you have read Tweets #4 & 5, both.
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