List of posts

  • A couple weeks ago, Thrasio declared bankruptcy. The largest Amazon aggregator, it raised over $3 billion of debt and equity at a valuation that was rumored to be approaching $10 billion. Blue chip investors led the financings, including people who typically go for businesses with

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  • Thoughts on motivation, talent, fund spinouts, and “the chip” “If you can’t join them, beat them” is a phrase I think about a lot. Motivation can come from a lot of places, and I don’t think there’s anything wrong with going through life with a

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  • Another news day in restaurant / franchise land with an ETA angle – you know I’m there. Restaurant Brands International (“RBI”), franchisor of Burger King, Popeye’s, and Firehouse Subs, announced today that it was acquiring Carrol’s, its largest franchisee with over 1,000 BK lounges Burger

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  • At the beginning of the year, I wrote three simple goals in my notebook. For the sake of accountability, here’s my end of year assessment on each of them: Verdict: Denver is “above the bar” but it’s not perfect. I’ve enjoyed things being car-friendly but

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  • While stuck in traffic on my way home on Friday, I listened to this excellent interview of Joel Peterson on Think Like an Owner, one of the best entrepreneurship-through-acquisition (ETA) podcasts out there. I had the privilege of having dinner last year with Alex Bridgeman,

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  • Over the last few years, we’ve seen unexpected shortages of formula, Sriracha, and eggs, all of which have been highly observable on grocery store shelves. Less observable but still impactful to the American economy has been the shortage of accountants. As fewer students study the

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  • Like many people, I used business school as an opportunity to have conversations with alumni who took interesting career paths. One of the most memorable conversations I had was with the CEO of an independent craft beer brand, who noted that an increase of HBS

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  • A couple of buzzy consumer brands were in the news this week, and I’m going to one of their hometowns this week on a business trip, so I decided to dive in to see what might be generalizable about investing in fast-growing (bird-related) consumer brands.

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  • As I write this, I’m watching the Ally 400, the first race in the 2nd half of the NASCAR season. Once again, combining a couple interests, this week it was announced that Joe Gibbs Racing, one of NASCAR’s premier teams owned by the famed former

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  • Cava’s IPO combines two things I truly love: financial analysis and chicken with greens and grains. Over a decade ago, when I was a lowly entry-level consultant, I was blessed with an early location of Cava and Sweetgreen within a short walk from my office.

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