Sep 3·edited Sep 3Liked by JP Picard

Always an easy and interesting read JP. My 2 cents worth for these early growth companies (which is a spooky area for me - but am wanting to learn):

3 key matters determine the future fate (1) quality and conviction of management - this rules out VITURA for mine (2) genuine commercial prospects at scale - as a former motor home owner I know the reluctance to lend or rent because of the potential for damage, so Camplify is a wait and see for mine (3) genuine moat status (and cash) to withstand competition. Your expression in this regard is priceless - “Someone’s growth is someone else’s opportunity for disruption.”

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