Gerstner says portfolio return targets normalized from 80% in early 2023 to 20-30% now.
“I think the return to target in our portfolio is 20 to 30%, whereas the start of last year, Bill, it was like 80%.”
Snowflake grew from $170M to over $50B enterprise value with Altimeter still a major shareholder.
“Yeah, that was total enterprise value of Snowflake when we got involved, and we're still one of their largest shareholders today, and it's over $50,000,000,000 in enterprise value,”
Gerstner calls access to top tech companies the most asymmetric bet in investing history.
“The the the most asymmetric bet maybe in the history of all of investing is having a golden ticket to have access to the best technology companies in the world today.”
Gerstner notes Google compounded at similar rates to other platforms despite his early worries about search's future.
“And I was talking of I was worried about the future of search and the future of vertical search starting in 2010, But look at Google's compounded at about the rate the other big platforms have in The US.”