A Quote by Bob Rice
The lingo used in the space is so arcane and out of date that investors have no context for the discussions. The failure to establish a clear, effective communication system has been the biggest sin private equity has committed.
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It's so important for those living with chronic pain to establish good communication with both their healthcare professionals and caregivers. Clear communication about pain is vital to receiving proper diagnosis and effective treatment.
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.
If you're going to lead a space frontier, it has to be government; it'll never be private enterprise. Because the space frontier is dangerous, and it's expensive, and it has unquantified risks. And under those conditions, you cannot establish a capital-market evaluation of that enterprise. You can't get investors.
The art of effective listening is essential to clear communication, and clear communication is necessary to management success.
It's clear to me when you do private equity well, you're making companies more efficient and helping them grow and become more profitable. That success means our investors - such as public pension funds - benefit, which contributes to the economic wealth of society.
We [US government] have used our taxpayer dollars not only to subsidize these banks but also to subsidize the creditors of those banks and the equity holders in those banks. We could have talked about forcing those investors to take some serious hits on their risky dealings. The idea that taxpayer dollars go in first rather than last - after the equity has been used up - is shocking.
The magnitude of the punishment matches the magnitude of the sin. Now a sin that is against God is infinite; the higher the person against whom it is committed, the graver the sin-it is more criminal to strike a head of state than a private citizen-and God is of infinite greatness. Therefore an infinite punishment is deserved for a sin committed against Him.
I think good private equity investors create a lot more economic value than they destroy.
Private equity investors are an integral part of the economy and should be celebrated for making our country wealthier.
State funds, private equity, venture capital, and institutional lending all have their role in the lifecycle of a high tech startup, but angel capital is crucial for first-time entrepreneurs. Angel investors provide more than just cash; they bring years of expertise as both founders of businesses and as seasoned investors.
Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
Public space can be a lot better with some private space to contradict it and vice versa. It keeps the system alive. If the system is just one thing, then it's closed and it eventually dies.
Private equity firms aren't necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.
They who are great talkers in company have never been any talkers by themselves, nor used to private discussions of our home regimen.
Nobody in my generation ever started out in private equity. We got there by accident. There was no private equity business - actually, the word didn't even exist - when I started. I got there out of the purest of happenstance and so I think many people find what they really enjoy doing just in that way. So another piece of advice for you is: don't worry too much about what you're going to be doing when you get out of business school - life will come your way.
Success is always an easier motivator, because you want more of it. But I've also been motivated by failure. Had I medaled in London, I don't think I would be one of the few that have gone to a Summer and Winter. I would have been content with that medal. Instead, I used that failure to go to the Winter Olympics. I always tell people that failure can be one of your biggest motivators if you just have an attitude adjustment about it.
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