The next trillion-dollar company will not be backed by traditional private equity; most PE firms are underwater on current deals.
“I think it's unlikely that's a private equity backed company. It's true. I think the only thing that will vary is just, like, do they have the ability to do more deals? Because so many of them underwater with shit deals.”
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Our resolution criterion
disputableNext company to reach $1T valuation is not majority-backed by traditional PE; or majority of large PE firms report negative returns on 2020-2024 vintage funds.
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