A Quote by Justin Kan
No matter what I've wanted to accomplish, whether it was raising capital, investing in a startup, or selling a company, legal has always been a cost and a roadblock to the ultimate goal.
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Manipulating the bond market is so greatly reducing the cost of capital that so far companies have been able to maintain profit margins without raising prices. As a result, we've been exchanging capital cost for commodity costs but you can only do that for so long.
I don't have an issue with whether - from a legal standpoint, with whether or not government can impose the ultimate punishment on people. We do it in capital cases. Police officers shoot fleeing felons.
I've always wanted a ring. That's been my main goal as a player over the last 15 years of my career. You're really trying to get that ultimate goal.
I have this passion for building things, so I always wanted to build a startup. I always wanted to start my own company.
There is never a time in a company's history when cost control can be relegated to the back burner, but for a startup company, keeping costs low is a vital necessity.
There is always a critical job to be done. There is a sales door to be opened, a credit line to be established, a new important employee to be found, or a business technique to be learned. The venture investor must always be on call to advise, to persuade, to dissuade, to encourage, but always to help build. Then venture capital becomes true creative capital - creating growth for the company and financial success for the investing organization
I've always been about learning. No matter how long I've been in the business or where I've been in a company, I've always wanted to continue to learn.
My ultimate goal, really, is to win a championship. That's my ultimate goal no matter the statistics or how I do it or what numbers I put up in the box score.
To have the appreciation from your peers, the fans and the company you work for is the ultimate reward. For me, that has always been ultimate because respect has always been the most important thing to me in this business.
Throughout my athletic career, the overall goal was always to be a better athlete than I was at the moment – whether next week, next month or next year. The improvement was the goal. The medal was simply the ultimate reward for achieving that goal.
Let's take energy, for instance. I understand that in some industries, the input cost of energy is a major factor in whether an industry is going to locate in the United States or go elsewhere. So, when, at Bain Capital, we started a new steel company called Steel Dynamics in Indiana, the cost of energy was a very important factor to the success of that enterprise.
If you're a small startup considering selling your company, there's definitely far worse places to work than Facebook.
Investing solely for 'income,' investing merely 'to keep capital employed,' and investing simply 'to hedge against inflation' are all entirely out of the question.
Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of borrowing, but theorists went bonkers on the cost of equity capital. They say that if you're generating a 100% return on capital, then you shouldn't invest in something that generates an 80% return on capital. It's crazy.
Focus on what it is that you want, set a realistic goal. Start setting goals that you feel you can accomplish. Don't try to go right to the top in one leap. Every time you accomplish a goal you develop the strength and wisdom to accomplish the next one.
For every company that sees the value of their capital go up, there's another company that has been disrupted, and the value of their capital gets marked down because it's not going to compete in the same way.
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