A Quote by Bill Gurley
If the goal is to build companies that maximize long-term equity value, then optimizing corporate performance in a way that Wall Street appreciates is obviously critical to that goal.
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We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.
In the days when corporate downsizing was all the rage, Wall Street took a lot of flak for judging companies too harshly and setting the bar for corporate performance so high that executives felt their only option was to slash payrolls.
You cannot do a goal. Long-term planning and goal-setting must therefore be complemented by short-term planning. This kind of planning requires specifying activities. You can do an activity. Activities are steps along the way to a goal. Let's say you desire security. Putting $10.00 in the bank or talking to your stockbroker about your investment plans are activities that will move you toward your goal.
You can build a filter app get people really excited, but the way to keep them is to provide long-term value. Long-term value is, in fact, being its own network.
The most critical factor subduing the demand for housing is that home ownership is no longer seen as the great, long-term buildup in equity value it once was.
Training for a marathon is much like climbing a ladder. Each ring is a short-term goal that must be met in sequence in order to reach the long-term goal at the top of the ladder.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
I think Wall Street is very important, especially to tech companies. Wall Street will get in their rhythm and go fund tech companies, and tech companies will go create jobs and employ a lot of people, so there's that aspect of Wall Street.
Never let a short term desire get in the way of a long term goal.
Obviously, the goal is to maximize my own potential, whatever that may be. That's all I focus on.
Everybody wants to have a goal - I gotta get to that goal, I gotta get to that goal, I gotta get to that goal. I can finally get to that goal. Then you get to that goal, and then you gotta get to another goal. But in between goals is a thing called life, that has to be lived and enjoyed - and if you don't, you're a fool.
The value of the goal lies in the goal itself; and therefore the goal cannot be attained unless it is pursued for its own sake.
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Some people, in working towards a goal, find themselves seized by inertia when it comes time for action. If this should happen to you, despite the small graduated steps, then it is time to re-examine your goal. Consider how important it actually is and then either discard the goal and replace it with more suitable one or continue the steps with a renewed sense of the value of achieving it.
Evolution has no long-term goal. There is no long-distance target, no final perfection to serve as a criterion for selection, although human vanity cherishes the absurd notion that our species is the final goal of evolution.
The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it.
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