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Buffett's strength is in downturns - when stocks are "on sale". He needs ready cash for that. He dissolved his first firm because times were too good. He might
by hyperpallium 7y ago
Buffett's strength is in downturns - when stocks are "on sale". He needs ready cash for that. He dissolved his first firm because times were too good.
He might be increasingly at a disadvantage for web companies - OTOH, I don't think anyone really knows how to value them long term. YC does well picking "stocks" pre-IPO, pre-revenue, pre-product, but an utterly different model (and long-term still unknown).
YC startups passed $100B last year, are $155B this year. 7% ownership is $10.85B. How long before YC overtakes Berkshire ($348.7B)?