4.1m people turning 65
A record 4.1 million people are set to celebrate their 65th birthday in the US in 2024. Within that
Bad news = Good news
A podcast I listen to suggested that “both good news and bad news are positive for the market these days.
8 Graduates from Tech Track
8 apprentices successfully graduated from the Tech Track program at Service Star Brands this week. We celebrated with a company-wide
Keep the ball in your court
When dealing with business owners, don’t leave the ball in their court. They’re busy and many suck at
Bain 2024 PE Report
From Bain’s 2024 Private Equity Report webinar: • 2023: Fundraising, exits, dealmaking, and capital velocity were strongly affected by rapidly
5.30% savings rate
So 2024: one of my WhatsApp group chats is ablaze with discussions on which bank offers the best rates. I’
Don't anchor
According to my professor at b-school, the first person to throw out a number loses. Not in my experience. A
Launching Minds Capital
(March 19, 2024) Here we go! Officially launching Minds Capital, an equity fund investing in sponsor-/searcher-led acquisitions. Our goal
UpSmith Podcast (May 2023)
Wyatt Smith is an authority on workforce productivity. We need people of his extraordinary caliber to solve one of America’
Conviction + Hustle
“But how do you get deals under LOI when you don’t have committed capital?” This is the most common
"Underemployment"
52% of recent four-year graduates are "underemployed" (vs. the normal rate is ~1/3). Underemployed is when "
Document everything
If you’ve just acquired a business and things don't feel quite right, start a document where you
AI killing office jobs
For years we envisioned that AI robots would kill blue-collar jobs (assembly lines, warehouses, chauffering, cashiers). Instead, in 2024 there
Leap Day
Shouldn’t Leap Day be a public holiday? You work an extra day without pay!
S&P 500 at 21x
The S&P 500 is trading at 21x current earnings (vs. the ten-year average of 17x), suggesting there’s
Financial Times: Deal-by-deal PE
Deal-by-deal private equity is in the wind. The space is maturing in the US, but it is in the early
Diligence vs. Fundraising
There is an inevitable conflict of interest between (1) diligencing & negotiating a deal and (2) raising capital for it.
US Dollar Strengthening
How come the US dollar strengthened versus other currencies while weakening against itself? Weakening against itself is an absolute measure.
Searcher & Sponsor Conferences
Searchers and independent sponsors: Here is a list of the relevant conferences for you (click link in the comments below)
2023 Homebuilding Boom
Homebuilders are the unlikely benefactors of the rising rates that tanked housing demand. 2023: Double interest rates + inflated home prices
Google Doc for Q&A w/ Seller
When dealing with sellers, create a Google Doc with a Q&A (your questions & their answers). I use
HR in 4 parts
HR consists of 4 parts: Administration, Recruiting, Training, Retention. From left to right, tactical/reactive to strategic/proactive. Sadly, most
US Federal Deficit in 2024
The market has priced in several rate cuts in 2024, but in reality the $1T+ federal deficit may force the
UpWork for CIM-building
If you're a business broker and make a living selling companies, how come your sales prospectus for target
