Why won’t PE touch most sub-$3M EBITDA businesses? Most sub-$3M EBITDA businesses sell for 3x because they’re built for survival, not scale. The difference between a 3x multiple and an 8x multiple? A team that thinks in systems, not tasks. A $3M EBITDA business where the owner

This shit needs to be outlawed.

I came across a timeless list by Sam Altman, and it hit me hard. Not because it’s new advice — but because it’s the kind of wisdom we often know yet rarely practice. Here are a few gems that stood out to me: Talk to people more. Real conversations beat endless scrolling every

SMB Attorney I’ll go 2nd: Engagement bait

people think “branding” is just fonts & color palettes. elon’s whole career is littered with high leverage naming & narrative framing moves. - tesla: evokes innovation, history, electricity in a single word - spacex: futuristic but grounded in aerospace tradition - boring

High Yield Harry SMB Attorney Cooked him

I'm super excited to announce that yesterday I bought a local small business, after searching for a bit over a year for the right fit. The business services a niche within plumbing, and has a lot of great characteristics (steady demand, minimal seasonality, lower overhead, etc).

Congrats Lincoln !!

The business world is a small place. Most people are no more than two degrees separated from anyone else. Networks are highly interconnected, especially when it comes to investors and executives. Never burn a bridge unnecessarily.

Billy, this is Pete Buttigieg. He’s a Harvard-educated technocrat who’s probably the Democrats’ best hope of beating JD Vance in 2028. His only shortcoming is he’s polling 0% with black voters.

What does it mean to be a partner to your LPs? Transparency, honesty, and strong alignment of incentives. Mega fund GPs just can't offer the same level of partnership in most cases that a high quality emerging manager can.

I loved this description of Jay Gould (the dark genius of Wall Street)

A trait Charlie Munger had that is worth copying:

Charlie Munger on Sam Walton’s very shrewd strategy: “He also had a very interesting competitive strategy in the early days. He was like a prizefighter who wanted a great record so he could be in the finals. So what did he do? He went out and fought 42 palookas. And the

in a prior life we invested in a security guard biz (this was 2012) and some folks warned that the market was too mature and in the "9th inning" of consolidation. we managed to get 24 add-ons done in 24 months (easily the worst two years of my life😂) we're now current

Apollo guys rolling into Soho House after helping them go private

A lot of young people get discouraged from working long hours because they see their seniors are not doing the same This is absolutely the worst mindset to have and will be a career killer in the long run MDs and PMs might be working less hours, but each hour of work is more

Rainmakers is back with a new episode. This time on Joe Liemandt. Before he pioneered software buyouts with ESW capital he was an entrepreneur who struggled to get his company Trilogy off the ground. Today, we break it all down.