Q: Can you tell us about the origins of Ramp Capital and your philosophy on the increasingly popular #FinTwit?
A: The origins of Ramp Capital go back to around 2013…
Nearly my entire investing career has been focused on the public markets. I work for a private employee-owned company but I’ve never invested in any private companies outside of my own.
Recently, I started to become more interested in tech startups and private markets—mostly because of the hot IPO market in the last two years. I wanted to get involved early and see a different side of investing. I also wanted to diversify across different markets to generate alpha.
I recently bought a slightly used truck from a relative. First time truck owner. Let’s just say that my testosterone is currently in a bull market right now. Pro-tip: In some states, if you purchase a vehicle from a relative you don’t have pay sales tax—which can easily add up to $3-4k.
Successful people are different people. To do something better means it’s already been done before. To do something different means it’s something new—it’s singular.
It’s a gift to exist. And with existence comes suffering.
While I do a lot of my own home renovation projects, one thing is constant—if you want something done right you must have the right tool for the job. I can’t tell you how many times I’ve tried to use a tool that wasn’t right for the job and ended up getting frustrated and spending more time and money fixing the problem.
A year and a half ago, one of the greatest short calls of our generation was made by the biggest influencer in the world—not me. I’m speaking of Kylie Jenner of course.
On February 21st, 2018, Kylie Jenner tweeted out her disgust of Snapchat and their recent user interface change that made the product extremely hard to use—even for millennials.
I have always been and will most likely always be a meat-eater. I’ve read way too many research papers and books from very smart people and seen the results myself on what a paleo or keto type diet can do for people to cure a host of different ailments. When I see people eating this fake meat crap, I die a little inside.
A big part of investing in individual companies or running an active portfolio is trying to spot macro trends in their infancy and subsequently riding the wave to riches. For instance, when the iPad was released in 2010, I distinctly remember Fast Money making fun of the name that Apple had chosen for it—saying it sounded like some sort of feminine product. Meanwhile, I was loading up on common and calls, thinking about how the iPad could revolutionize many industries (textbooks, traditional PCs, newspapers, e-readers, etc.). And so it did, although I never held as long as I would have liked to.
It’s been five weeks now since Lyft has gone public. In that time, Lyft has taken a 38.6% haircut from the peak reached on the very first day of trading — Fibonacci fans rejoice. With the Uber IPO on deck, investors are surely wondering if it will turn out like Lyft’s IPO or if it’s different this time. Or maybe the entire ride-sharing business model is in a bear market.