Now The Snowball is a big book. It weighs over 4 pounds. I mention that because I usually like to read a bit before I go to sleep. This book is so heavy, that it is difficult to read laying down. It puts too much pressure on my arm.
I didn’t know much about Mr. Buffet and I find that I like a lot about how he thinks about business. For example, in one part he talks about how he prefers buying “a good company at a fair, then a fair company at a good price”. It makes sense and then he follows by saying that part of a good company is having a great team and great teams are especially important since they positive affect the valuation of a company.
When looking at early stage companies, we usually prefer “an A team with a B product or technology than a B team with an A product. or technology”. This makes a lot more sense if you add that having this A team together running and growing the company will also positively affect the value of the company at exit. Afterall, we are looking for the positive exit.