My guest today is past guest Gavin Baker, managing partner and CIO of Atreides Management. Gavin’s focus is on consumer and tech growth investing, which makes him the perfect person to discuss the bloodbath we’ve seen in many growth equities over the past few months. We also cover inflation, semiconductors, and the disconnect between private and public markets. Please enjoy this conversation with the always great Gavin Baker.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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[00:02:30] - [First question] - What it’s been like investing over the pandemic
[00:06:14] - The way he thinks about multiples, how they’ve done, and where they’re going
[00:09:14] - Themes that most have his attention in our current economic landscape
[00:19:25] - The ways in which wage inflation negatively impacts the market
[00:25:39] - How semiconductors have evolved and what matters in that subsector
[00:32:47] - Software volatility and the roller coaster it's been on lately
[00:35:52] - A future state where infrastructure overtakes apps
[00:41:03] - Key differences between internet and software and how they behave
[00:43:44] - The coming trend of the metaverse and his reaction to public adoption
[00:49:26] - Investor and business opportunities in adopting tech trends
[00:53:54] - An unfolding mismatch between private and public market multiples
[00:57:17] - How the competitive landscape of venture capital might evolve
[01:05:54] - Differences in recruiting and training talent in private and public markets