TrueCar, Inc. founder and CEO, Scott Painter, joined David Weisburd on the How I Invest Podcast to discuss his journey taking the company private. Apple Podcasts: https://bit.ly/4c3cIcI Spotify: https://bit.ly/3ObW4yo
𝐖𝐡𝐚𝐭 𝐢𝐟 𝐩𝐞𝐫𝐬𝐢𝐬𝐭𝐞𝐧𝐜𝐞 𝐢𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐬𝐧’𝐭 𝐚 𝐯𝐢𝐫𝐭𝐮𝐞, 𝐛𝐮𝐭 𝐚 𝐥𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐮𝐧𝐭𝐢𝐥 𝐲𝐨𝐮’𝐫𝐞 𝐰𝐢𝐥𝐥𝐢𝐧𝐠 𝐭𝐨 𝐰𝐚𝐥𝐤 𝐚𝐰𝐚𝐲? Scott Painter’s 21-month process to take TrueCar private is a reminder that capital formation isn’t just about vision, it’s about leverage, psychology, and timing. The turning point wasn’t more conviction, it was creating a real alternative to the deal itself. Until then, every counterpart knew he needed it more than they did. That dynamic shows up far beyond take-privates. In venture, in secondaries, in fundraising, the balance of power often determines outcomes more than fundamentals. • Investors don’t write checks because of upside, they write checks to avoid missing out • Momentum matters, but the ability to reset leverage matters more • The strongest negotiating position comes from being genuinely willing to walk The uncomfortable truth is that many “great opportunities” only close once desperation is removed from the equation. Conviction without optionality is just exposure. Special shoutout to William Brown and Peter Thiel mentioned in the episode! We’d like to thank AlphaSense for sponsoring this episode! #VentureCapital #Fundraising #CapitalMarkets #Negotiation #Entrepreneurship #PrivateEquity Link to Podcast in Comments Below 👇