Buyout investor in the LMM

Joined June 2024
👀USSOUTHCOM is hiring a PSYOP planner on LinkedIn to support “strategic psychological operations” across Latin America and the Caribbean.... @ArbitrageAndy1 @ARBLETTER
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Has anyone else noticed that Black fraternities were spared the collective punishment? Imagine if Cornell dropped a campus-wide hammer on every sorority or Black fraternity over an incident at a single chapter, while giving 30+ white fraternities a pass. Civil rights lawyers would file Title VI and Title IX lawsuits by sunrise, citing blatant selective enforcement and unequal treatment. This hypocracy is hard to miss - how is this not an illegal double standard?
This week, Cornell suspended fraternity parties for the rest of the academic year. The move is the latest chapter in a yearslong effort by the university to tame fraternities that are both a disproportionate source of trouble and a fixture of campus life. on.wsj.com/4ytqAVB
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Equity Phantom retweeted
My post about France went viral. Thousands of likes. Many Americans told me: "Democrats aren't socialists. America will never be France." I want to answer that seriously, step by step. Start with a simple observation. Look at what has gotten cheaper in America over the last 25 years: TVs, phones, software, clothes, toys. Now look at what has exploded: college tuition, healthcare, childcare, housing. What separates the two lists? The first lives in competitive markets. The second is exactly where government is most involved: subsidies, mandates, licensing, zoning, regulation. College. Washington lends students almost unlimited money. Universities know the money will always come, so they raise tuition and hire more administrators. The student pays the bill for twenty years. More government money, higher prices. Housing. Why can't a nurse buy a home in the city where she works? Not because of capitalism. Because of zoning laws, permits, environmental reviews, years of procedure to build a single building. The most expensive places to live in America are the places where it's hardest to build. When building is nearly illegal, prices explode. Healthcare. The patient almost never sees the price. A third party pays, regulations limit who can compete, and costs climb year after year with no one able to say no. So here is the trap. The problems you suffer from are not the failure of free markets. They are the places where the market has already been replaced by the state. And the solution you're being offered is more of the same. That's the Trojan horse. It always works the same way. A real problem. A generous-sounding promise. A program that makes things worse. Then the failure of that program becomes the argument for the next one. People who lived under communism in Poland learned to recognize the lie and the mask the lie wears. The lie never presents itself as a lie. It presents itself as compassion. In France we are at the end of that road. Debt we can never repay. Young people who can't afford a home. Our best people leaving. And every few years our cities burn. Nobody voted for this. They voted for one more generous promise, fifty years in a row. If you're a Republican, share this with the Democrat in your life. Not to win an argument. To start a conversation. If you're a Democrat, I'm not asking you to switch teams. I'm asking you to look at the pattern. Wherever the state took over, life became unaffordable. Don't fix the failures of government with more government. Stay American. Ask for less state, not more.
I’m French. I want to talk to Americans who are about to vote Democrat. Not to insult you. To warn you. I come from your future. In France we did everything your progressive politicians promise. Free healthcare, free college, generous welfare, strong unions, heavy regulation, high taxes on the rich, a state that takes care of everything. Public spending close to 57% of GDP, one of the highest on the planet. On paper, it’s the dream. Here’s what it looks like from the inside. France hasn’t passed a balanced budget since 1974. Our debt is above 3,300 billion euros. Interest on that debt is becoming one of the biggest items in the national budget. Our hospitals are collapsing despite record funding. Our schools rank lower every year. Young people with degrees can’t afford an apartment in the city they were born in. Our best engineers leave for London, Zurich and San Francisco. And the rich you wanted to tax? They left too, and took the jobs with them. The promise was protection. The result is stagnation. The worst part is that nobody in France voted for decline. Every single step sounded generous, compassionate, reasonable. One more program. One more regulation. One more tax to fund it. Each step alone makes sense. Fifty years of them, and you wake up in a country that can no longer build a nuclear plant on time or keep its streets safe. I love America because it’s the one place on earth where people still believe they can build something from nothing. I came to Silicon Valley as a self-taught kid and it changed my life. That spirit is the most precious thing your country has. Before you vote, ask yourself one question: is the program you’re voting for making America more like America, or more like France? Trust me. You don’t want to be France.
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Unsettling sight in Washington DC. Sea of Chinese flags showing support for President Xi and the CCP on state visit. @ArbitrageAndy1
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+1 for the Aprio team. Reasonable cost and quality work.
Replying to @PEoperator
Bill Dupee at Aprio
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Significant EBITDA multiple contraction across the IT services space. Ton of PE deal activity in this sector over the last few years - suspect these will be long holds for them.
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Talk about "Hockey Stick Growth" (pun intended)
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This sounds straight out of Atlas Shrugged.
Seattle’s socialist Mayor Katie Wilson has officially declared war on grocery chains. She claims she will unilaterally BAN grocery stores from closing down in her city, arguing that food access is a human right that overrides business decisions. She said : "We cannot allow big grocery chains to close stores at will!" The Plan: If a private business tries to leave due to theft, taxes, or safety concerns... the government will step in. Her allies in the state legislature have even introduced a bill (HB-2313) allowing the city to use Eminent Domain to SEIZE grocery store properties and turn them into government-run shops. Mayor Katie Wilson calls it "protecting the community." Critics call it "holding businesses hostage." Thoughts?
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I saw the CIM for this and these are the real slides.
Josh Harris bought the Washington Commanders for $6.05B Here are the top slides from the deal:
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So will they let you also reduce your tax for investments that are underwater? Is there an additional tax once capital gains are realized?
BREAKING: Netherlands’ House of Representatives has approved a 36% tax on unrealized capital gains.
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Abolishing the function of immigration enforcement is a shortcut to national instability. Without enforceable borders, we're an economic zone with no social contract. How do we sustain schools, healthcare, and infrastructure if we cannot vet + limit the volume of people entering?
Replying to @kevsaucebro
I take every opportunity I can to plug this law review article from @MarkowitzPeter it’s a great jumping-off point for policymakers in thinking about the future of immigration post-ICE leaders like @itsmarkmoran will be the ones charting that future yalelawjournal.org/essay/abo…
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This could be a great tool for the next season of "To Catch a Predator"
This is going to be a scam gold rush like we've never seen before. Facebook Boomers have NO Idea what's coming. They are TURBO COOKED. Warn your loved ones. This is a Hiroshima level event. Develop a safe word only you know with your circles. GOOD LUCK!!
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How are you seeing sponsor equity structured when there is a seller rollover? Sponsor equity as preferred, or rollover pari-passu with sponsor? Interested to see the models.
This quoted post is unavailable.
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How AI & Digital Finance are Shaping National Security—and Ways to Safeguard It open.substack.com/pub/theben… @ArbitrageAndy1
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Do we really want to broadcast that ALL of our military leadership will be in one location? I am sure that there is a serious reason for this, but seems like a notable security risk.
Exclusive: Defense Secretary Pete Hegseth has ordered virtually all of the U.S. military’s top commanders worldwide to gather on short notice — and without a stated reason — at a Marine Corps base in Virginia next week. Here’s what we know: wapo.st/4o9xz1h
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As others have said, if you are thinking about going the independent sponsor route, be ready to buckle up for a bumpy ride. Had what we thought was a $4m+ EBITDA business under exclusivity post-LOI. Fundraising process going well. Until the red flags start to emerge.
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Their 2024 audit finally was dropped last week, aligned with our QoE findings. Also included a nice material deficiencies letter. Hard to believe this MASSIVE restatement was not known to banker/company until now. No heads up to us as we continued to spend on 3rd party diligence.
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Moral of the story: This is what you pay your diligence providers for - but it still hurts to get this far and burn through real money on a deal that is now DOA and unfinanceable. Onward and upward!
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