The Art of Slowing Down

185: How to Spot Bullshit Before Writing a Check

“Fake it 'till you make it” - Some Dipshit in Silicon Valley

Several people have recently asked if I could provide some insights into the process, I use to research various companies that I write about. I played one of the best rounds of golf I’ve had in my life this morning and since I’m feeling pretty good today, I thought it would be a good time to explain some parts of my process. My goal is to illustrate the work that goes into the backend of my thoughts and hopefully people will start to realize that you cannot just take investor decks, company statements and financials to complete diligence work. If you recall I ran through my process on how the Qatar Investment Authority missed blatant fraud and ultimately lost $200+ billion on builder.ai. For today’s purposes I’m going to go through three companies, Croissant, Mooncake and Celtic Bank. These are all private companies however you will see how I’d diligence these if I was looking to participate in a funding round or potentially their IPO if they ever were to get to that point. Let’s get into it!