The Minutes of Bill Gurley on time to liquidity https://minutesof.com/bill-gurley/on/time-to-liquidity/ Everything Bill Gurley has said on time to liquidity: 3 verbatim quotes from June 2025, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:22:08 +0000 Gurley calculates five-year delay from year ten to fifteen requires $160 instead of $100 just from compounding https://minutesof.com/q/b9b79df1-97cd-49ac-947b-0af62ed8c891/ https://minutesof.com/q/b9b79df1-97cd-49ac-947b-0af62ed8c891/ “Let's say you were expecting to get a $100 back from investment in year ten and you wanna delay it to year fifteen.” — Invest Like the Best Tue, 10 Jun 2025 08:00:00 +0000 time to liquidity Gurley calculates that delaying exits from year ten to fifteen requires 2.5x higher returns to meet expectatio https://minutesof.com/q/e29dbda1-8142-4974-8ce0-af18c18eae60/ https://minutesof.com/q/e29dbda1-8142-4974-8ce0-af18c18eae60/ “If you just take that 10% compounding, it now needs to be worth a $160 in year fifteen.” — Invest Like the Best Tue, 10 Jun 2025 08:00:00 +0000 time to liquidity Gurley calculates five-year delay requires $160 return versus $100 due to 15% cost plus 5% dilution. https://minutesof.com/q/ab0dfbf1-8f5c-4f8e-8ca6-ab85fe9cb754/ https://minutesof.com/q/ab0dfbf1-8f5c-4f8e-8ca6-ab85fe9cb754/ “That's the risk free rate. It's 15. And then it's 20% a year. 15 plus the five from the equity dilution.” — Invest Like the Best Tue, 10 Jun 2025 08:00:00 +0000 time to liquidity