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The PGA Tour purchased TPC Sawgrass for just $1 (but ended up making billions).
Today's newsletter includes a detailed account of how the PGA Tour turned a $1 land purchase into a network of more than 30 golf clubs worldwide, generating $150 million in annual revenue.
This is fascinating even if you don't like golf.
CFOs used to just look backwards. Then we learned to look forward.
Now, we have to operate. The best CFOs today move between high-level strategy and ground-level execution—like a dolphin diving above and below the surface.
Coming in a little hot here…
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Interesting that Trump’s team isn’t polling Musk’s favorability or job approval. Are they just relying on public polls and already know he’s underwater? Or does Musk’s popularity (or lack thereof) not factor into their thinking about whether to keep him around?
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A16Z average deal size >2x the average Accel deal size.
Starting to see some interesting comparisons from the Fund Codex.
The meaning of conspiracy theory is evolving too rapidly for me to keep up. Once it meant gray aliens orchestrating the assassination of JFK to distract from Elvis's fabrication of the Moon landing. Then it meant accurately predicting what the government would do based on policy papers published by the government. Now it means ... using slightly different vocabulary to describe the same thing, I guess?
"I like strawberries."
"Fact check, conspiracy theorist! You have a preference for red ground …
"The meaning of conspiracy theory is evolving too rapidly for me to keep up."
Please check Merriam-Webster online for the most current definition...