Gavin Baker
+ Your AuthorsArchive @GavinSBaker Managing Partner & CIO, Atreides Management LP. Formerly Fidelity OTC Fund. No investment advice, views my own. Apr. 09, 2021 1 min read

1) All for anyone starting a fund. Did not mean to discourage.

Evidently it wasn't very hard for @DanielSLoeb1 😀

The beginning is difficult for most. Lots of rejection.

No matter how hard you work, need some luck given high sensitivity to initial conditions (year 1 #'s).

2) Schwarzman's description in his book of being blown off by a prestigious university endowment in Boston during Blackstone's launch captures the feeling of rejection well.

It will happen many times. Be mentally prepared.

Everyone "knows" this but it is still surprising.

3) Choose your path wisely:

Low cost, sole proprietor "practice" vs. going for a larger launch with the commensurate team size and expenses which requires reasonable personal capital and/or an anchor/seed LP.

First path lowers the sensitivity to initial conditions.

4) @NeckarValue @NoonSixCap @GrahamDuncanNYC @pmje73 have written the best practical stuff on the topic IMO.

And I am happy to help *anyone* if I can.

Especially anyone who is an active, positive contributor to FinTwit.

You can follow @GavinSBaker.


Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.

Follow Threader