While Wikipedia helps us in defining the term as “a concept or idea that can be falsified by various (scientific) methods“, the application of this process may take two forms in venture.
The produced position paper about a sector or deal will also shape the terms the investor is ready to propose or accept in deal negotiations later on.
Yesterday’s post was about how Banks will have to focus on the same core metric as Fintechs – CAC/LTV.
Salesforce is now bringing it’s huge resources to bear on this challenge.
My objectives were to: Their stock always seems expensive.
Waiting for it to get cheap has been a losing strategy.They first invented, then defined, then branded and led a new market.The disruption is still playing out and Big Tech is now defined primarily by how well they are making the transition to Cloud (think how investors rate companies like Microsoft, Adobe, Oracle, SAP and IBM by how advanced their Cloud transition is).In their Press Release, Salesforce focused on the Net Gen challenge as Wealth Managers call it: “In the next five years, more than trillion in wealth is expected to transfer between generations.Today’s financial advisors need to meet the needs of clients set to inherit this wealth, and who are increasingly social, mobile, connected and seeking significantly more collaboration.” A vertical move is tough. It is a collection of notes from discussions and thoughts over the past months and part of my effort to make sense of the topic.I would like to thank @justvideesha, @drosskamp, @simonschmincke and @benediktherles for the discussions, and especially @alexruppervc for their feedback.The needs of the Wealth Management industry are complicated by regulation and a complex value chain that works differently in different countries.Yet, as I learned from my Saa S Insights days, betting against Salesforce is usually unwise.Thesis-driven Definition of Investment Focus“Thesis driven investing involves drawing a picture of where your particular area of focus is going”, says Fred Wilson of Union Square Ventures.As David Rosskamp puts it: “Deductive thesis investing starts with a vision of the future.