[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] [@endowment_eddie](/creator/twitter/endowment_eddie) "So we sell all of our illiquid exposure at market trough at a discount sell all of our public securities (ofc it takes a few years given redemption terms but lets ignore that) and move into Mag7 (and ofc the trustees and IC are okay with this). XXXX% tr5 sounds nice. With that level of certainty we should have levered it"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946164549477925352) 2025-07-18 11:06:01 UTC 4302 followers, XXX engagements "@MylesDanielsen This has been up for a while any sharp accountant is probably like yeah not dealing with this headache and the potential administration over administration changes"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946590737195299240) 2025-07-19 15:19:32 UTC 4299 followers, XXX engagements "When you say privates havent kept up with publics you should really say privates havent kept up with the Mag X. There are XXX other S&P companies that have barely gone anywhere. If you want to hold X stocks go for it. PEVC v. R2000/S&P493 is a diff story. Source: Goldman"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946138605664993319) 2025-07-18 09:22:55 UTC 4308 followers, 475.9K engagements "M&A in tech markets is supposed to make a comeback but by who and how much Using @grok for the belowthe Nasdaq has total market cap of $30T today. We should be looking at $2-300B in a softer regulatory regime and macro clarity (aka doubling off 23/24 lows). Guess what Were approaching that runrate through 1H2025 on the back of Wiz and the return of M&A in the $200M-5B range. Under discussed is the role that mid/large cap tech such as Databricks Snowflake DoorDash Datadog and others are starting to play with each having completed multiple acquisitions in the past XX months. The strategic"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1947434795237068822) 2025-07-21 23:13:31 UTC 4302 followers, XXX engagements "Fair points taken down to cash flow level the story changes. Assuming XX% initial that is $450B invested about $90B per year avg (directionally right eye balling Pitchbook with XX as outlier). In this scenario which is very right tail distribs are likely above that driving CF+ dynamic. Calls have modestly but not materially outpaced distributions in the last X years to drive the CF- dynamic. So to your point higher than not odds this dynamic continues"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1944471299205595310) 2025-07-13 18:57:38 UTC 4302 followers, 2058 engagements "Harvey isnt some breakthrough in legal AIits ChatGPT with a law costume. Lovable isnt revolutionizing codeits Claude with pretty buttons. - @rodriscoll on @twentyminutevc Not enough people talking about this"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1945822790092804341) 2025-07-17 12:27:59 UTC 4309 followers, 64.6K engagements "I might throw in the towel on primary commits in VC/PE. If you just did LP secondaries (buying discounted fund interests) growing your commit pace or maybe even staying constant overtime you could have a top quartile PI portfolio in 5-10 years. Why LP secondaries have a reverse J curve where you buy at a discount and mark to GAAP NAV upon close. Sprinkle a little leverage. Boom you start with a mean IRR. Of course its a sugar high and fades to XX% over time. Sure its also a levered bet on private equity. But Ill be gone by the time Im figured out"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1928254356404457643) 2025-05-30 00:57:18 UTC 4301 followers, 30K engagements "Comparing software buyout and venture to the S&P or Mag7 with hindsight misses the broader pointyou should have owned and should continue to own US technology. This beta drives it all. Our deficit to GDP employment picture and global leadership are not driven by the S&P 493"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946576263029596456) 2025-07-19 14:22:01 UTC 4302 followers, 2221 engagements "Omada ($OMDA) and Mountain ($MNTN) are key for the 🦄 bell curve. - Trade at $1-2B cap/in line with IPO - $170-225M rev dece growth (28-38%) Bar supposedly $5B cap at least $3-400 ARR to IPO. More 🦄 look like OMDA or MNTN than Figma. CEOs/GPs should be keeping tabs"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946219593321607265) 2025-07-18 14:44:44 UTC 4302 followers, 1630 engagements "Backing repeat offenders could be a sick tag line targeting 2nd time founders"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946625030881710557) 2025-07-19 17:35:48 UTC 4302 followers, XXX engagements "@grok Grok We just talked about this. Too late to edit"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1947435683590946941) 2025-07-21 23:17:03 UTC 4309 followers, XX engagements "@DelJohnsonVC Idk. Pretty heroic assumption out of the millions of securities in the world to put all your eggs in X stocks XX years ago when decades of data show you the top of the S&P and high priced stocks have gotten slaughtered"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1946158740064858159) 2025-07-18 10:42:56 UTC 4310 followers, XXX engagements "This is the truthGPs who held get terminal multiples that quartile better. Sure still a XX% net IRR but its not all below median"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1947726057513107762) 2025-07-22 18:30:53 UTC 4308 followers, 1639 engagements "If VC is competitive now the what if everything goes right scenario on liquidity will send it to the stratosphere. $140B of market cap from this years IPO ($CRWV $CIRC $HNGE etc.) YTD. $160B annualized M&A. Now add Figma and Navananother $30B of market cap. What if Bytedance and the cohort of $400M+ ARR payroll/payment/expense mgmt platforms go public What about OpenAI Anduril etc. Were talking up to $1TRN or more of active market cap and M&A in the next 12-18mos. Assume VCs own 2/3 of all this and it gets distributed over 3yrs. Wed runrate at $200-250B of LP distributions annually. This"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1944453828029382676) 2025-07-13 17:48:13 UTC 4308 followers, 66.8K engagements "Public tech has spent X% of market cap annually on M&A but that was cut in half in 23/24. Nasdaq has total market cap of $30T. We should be looking at $2-300B. Good news - were approaching that runrate through 1H2025 on the back of Wiz and the return of M&A in the $200M-5B range. Under discussed is the role that mid/large cap tech such as Databricks Snowflake DoorDash Datadog and others are starting to play with each doing multiple acqs in the past XX months. The strategic acquirer or default acquirhirer isnt just the Mag7"  [@endowment_eddie](/creator/x/endowment_eddie) on [X](/post/tweet/1947632558344184250) 2025-07-22 12:19:21 UTC 4308 followers, XXX engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@endowment_eddie
"So we sell all of our illiquid exposure at market trough at a discount sell all of our public securities (ofc it takes a few years given redemption terms but lets ignore that) and move into Mag7 (and ofc the trustees and IC are okay with this). XXXX% tr5 sounds nice. With that level of certainty we should have levered it"
@endowment_eddie on X 2025-07-18 11:06:01 UTC 4302 followers, XXX engagements
"@MylesDanielsen This has been up for a while any sharp accountant is probably like yeah not dealing with this headache and the potential administration over administration changes" @endowment_eddie on X 2025-07-19 15:19:32 UTC 4299 followers, XXX engagements
"When you say privates havent kept up with publics you should really say privates havent kept up with the Mag X. There are XXX other S&P companies that have barely gone anywhere. If you want to hold X stocks go for it. PEVC v. R2000/S&P493 is a diff story. Source: Goldman" @endowment_eddie on X 2025-07-18 09:22:55 UTC 4308 followers, 475.9K engagements
"M&A in tech markets is supposed to make a comeback but by who and how much Using @grok for the belowthe Nasdaq has total market cap of $30T today. We should be looking at $2-300B in a softer regulatory regime and macro clarity (aka doubling off 23/24 lows). Guess what Were approaching that runrate through 1H2025 on the back of Wiz and the return of M&A in the $200M-5B range. Under discussed is the role that mid/large cap tech such as Databricks Snowflake DoorDash Datadog and others are starting to play with each having completed multiple acquisitions in the past XX months. The strategic" @endowment_eddie on X 2025-07-21 23:13:31 UTC 4302 followers, XXX engagements
"Fair points taken down to cash flow level the story changes. Assuming XX% initial that is $450B invested about $90B per year avg (directionally right eye balling Pitchbook with XX as outlier). In this scenario which is very right tail distribs are likely above that driving CF+ dynamic. Calls have modestly but not materially outpaced distributions in the last X years to drive the CF- dynamic. So to your point higher than not odds this dynamic continues" @endowment_eddie on X 2025-07-13 18:57:38 UTC 4302 followers, 2058 engagements
"Harvey isnt some breakthrough in legal AIits ChatGPT with a law costume. Lovable isnt revolutionizing codeits Claude with pretty buttons. - @rodriscoll on @twentyminutevc Not enough people talking about this" @endowment_eddie on X 2025-07-17 12:27:59 UTC 4309 followers, 64.6K engagements
"I might throw in the towel on primary commits in VC/PE. If you just did LP secondaries (buying discounted fund interests) growing your commit pace or maybe even staying constant overtime you could have a top quartile PI portfolio in 5-10 years. Why LP secondaries have a reverse J curve where you buy at a discount and mark to GAAP NAV upon close. Sprinkle a little leverage. Boom you start with a mean IRR. Of course its a sugar high and fades to XX% over time. Sure its also a levered bet on private equity. But Ill be gone by the time Im figured out" @endowment_eddie on X 2025-05-30 00:57:18 UTC 4301 followers, 30K engagements
"Comparing software buyout and venture to the S&P or Mag7 with hindsight misses the broader pointyou should have owned and should continue to own US technology. This beta drives it all. Our deficit to GDP employment picture and global leadership are not driven by the S&P 493" @endowment_eddie on X 2025-07-19 14:22:01 UTC 4302 followers, 2221 engagements
"Omada ($OMDA) and Mountain ($MNTN) are key for the 🦄 bell curve. - Trade at $1-2B cap/in line with IPO - $170-225M rev dece growth (28-38%) Bar supposedly $5B cap at least $3-400 ARR to IPO. More 🦄 look like OMDA or MNTN than Figma. CEOs/GPs should be keeping tabs" @endowment_eddie on X 2025-07-18 14:44:44 UTC 4302 followers, 1630 engagements
"Backing repeat offenders could be a sick tag line targeting 2nd time founders" @endowment_eddie on X 2025-07-19 17:35:48 UTC 4302 followers, XXX engagements
"@grok Grok We just talked about this. Too late to edit" @endowment_eddie on X 2025-07-21 23:17:03 UTC 4309 followers, XX engagements
"@DelJohnsonVC Idk. Pretty heroic assumption out of the millions of securities in the world to put all your eggs in X stocks XX years ago when decades of data show you the top of the S&P and high priced stocks have gotten slaughtered" @endowment_eddie on X 2025-07-18 10:42:56 UTC 4310 followers, XXX engagements
"This is the truthGPs who held get terminal multiples that quartile better. Sure still a XX% net IRR but its not all below median" @endowment_eddie on X 2025-07-22 18:30:53 UTC 4308 followers, 1639 engagements
"If VC is competitive now the what if everything goes right scenario on liquidity will send it to the stratosphere. $140B of market cap from this years IPO ($CRWV $CIRC $HNGE etc.) YTD. $160B annualized M&A. Now add Figma and Navananother $30B of market cap. What if Bytedance and the cohort of $400M+ ARR payroll/payment/expense mgmt platforms go public What about OpenAI Anduril etc. Were talking up to $1TRN or more of active market cap and M&A in the next 12-18mos. Assume VCs own 2/3 of all this and it gets distributed over 3yrs. Wed runrate at $200-250B of LP distributions annually. This" @endowment_eddie on X 2025-07-13 17:48:13 UTC 4308 followers, 66.8K engagements
"Public tech has spent X% of market cap annually on M&A but that was cut in half in 23/24. Nasdaq has total market cap of $30T. We should be looking at $2-300B. Good news - were approaching that runrate through 1H2025 on the back of Wiz and the return of M&A in the $200M-5B range. Under discussed is the role that mid/large cap tech such as Databricks Snowflake DoorDash Datadog and others are starting to play with each doing multiple acqs in the past XX months. The strategic acquirer or default acquirhirer isnt just the Mag7" @endowment_eddie on X 2025-07-22 12:19:21 UTC 4308 followers, XXX engagements