Peter Singlehurst: Lessons from Turning Down Stripe, Coinbase and Losing Money on Northvalt
85Peter Singlehurst is the Head of Private Companies at Baillie Gifford. He has led research on a wide range of private investments including Epic Games, Bending Spoons, Anduril, Solugen, Scopely, and Grammarly, as well as a number of private holdings that have since transitioned to the public markets such as Airbnb, Affirm, Warby Parker, Wise and Tempus AI.
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In Today’s Episode We Discuss:
(00:00) Intro
(00:51) Accidentally Running a Global Investment Giant
(04:08) What I Learned Losing 100s of $Ms
(07:04) The 10 Questions Baillie Gifford Needs to Answer to Make an Investment
(13:23) Why We Did Not Double Down in Stripe and Turned Down Coinbase
(31:59) The ByteDance Investment Case
(35:50) Why Would Any Good Company Go Public Today
(39:05) Growth Stage Investing Trends
(40:34) How Anduril Becomes a $200BN Company
(46:07) Is 2024 Different to the Madness of 2021 and 2022
(48:05) The Decision-Making Process Inside a $217BN Firm
(49:42) How Does Re-Investment Decision-Making Differ from Original Investments
(57:35) Future of Growth Equity Investing
(01:00:44) Quick-Fire Round
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