The Minutes of Bill Gurley on capital https://minutesof.com/bill-gurley/on/capital/ Everything Bill Gurley has said on capital: 5 verbatim quotes between February 2018 and February 2026, each with a timestamp and a link to the recording… en Sun, 30 Aug 2026 16:22:02 +0000 Gurley says unprecedented capital at every AI project creates uncharted competitive territory. https://minutesof.com/q/cb183734-4890-424e-8f87-6914b43816b0/ https://minutesof.com/q/cb183734-4890-424e-8f87-6914b43816b0/ “now we're in a weird world where the amount of money that gets thrown at every project, I kind of lived through this with Uber Lyft because both companies had billions and billions of dollars” — Tetragrammaton with Rick Rubin Thu, 12 Feb 2026 16:34:22 +0000 capital Gurley estimates zombie unicorns have collectively raised $300 billion in capital. https://minutesof.com/q/03d9400e-4b6c-4621-8ae6-5af743b2d3fa/ https://minutesof.com/q/03d9400e-4b6c-4621-8ae6-5af743b2d3fa/ “Yeah. Seems like they've raised somewhere between 2 and 300,000,000 each. And so you roll all that up, it's 300,000,000,000.” — Invest Like the Best Tue, 10 Jun 2025 08:00:00 +0000 capital The Middle East, the sovereign wealth funds in Singapore and and Nordics and, you know, Canadian pension fund https://minutesof.com/q/e01e75bd-0b6b-4610-9a72-cafd7fec1909/ https://minutesof.com/q/e01e75bd-0b6b-4610-9a72-cafd7fec1909/ “The Middle East, the sovereign wealth funds in Singapore and and Nordics and, you know, Canadian pension fund and all these folks.” — Bg2 Pod Mon, 23 Dec 2024 20:25:20 +0000 capital Gurley states 2020 average IPO was underpriced by 50 percent, a massive cost of capital. https://minutesof.com/q/079d9ef0-77b6-4d30-b1da-ab00eae303cf/ https://minutesof.com/q/079d9ef0-77b6-4d30-b1da-ab00eae303cf/ “In 2020, the average IPO was underpriced by 50%. You go to any finance school, they tell you you should care about the cost of capital. They teach you about weighted average cost of capital.” — Axios Wed, 18 Aug 2021 17:10:45 +0000 capital Gurley cites Druckenmiller's analogy that low interest rates drive unlimited speculation with other people's m https://minutesof.com/q/fdb82af1-e220-438c-a0c5-c0902fb68d62/ https://minutesof.com/q/fdb82af1-e220-438c-a0c5-c0902fb68d62/ “Drucker Miller just, you know, who's someone that's made a name in macro investing says, if you give, you know, Texas oilman the ability to drill holes with someone else's money, they'll drill as many as you possibly can.” — Bloomberg Tech Thu, 15 Feb 2018 00:05:18 +0000 capital