If I could give you 100% of your current annual salary in cash right now, would you trade me 10% of your earnings over the next 10 years?
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Like Nikhil said, been working on this category for a while. I think the market for Austen's ideas isn't quite there yet - cost of capital is prohibitive. Once it's competitive I think someone will build a great business in it.
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If cost of capital is prohibitive now I'm not sure it would ever make sense. The big thing you'd fight on top of cost of capital is selection bias. You need to hit inflection points where the capital moves the needle on future earnings.
End of conversation
New conversation -
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I think there are areas this would work well - healthcare is a big one. I'm a believer in equity replacing debt financings (threaded a bit about it here)https://twitter.com/nikillinit/status/755251872789856260 …
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