YouSaid · the spoken record

Steve Kuhn

lines on the record: 84
first: 2019-02-04
most recent: 2019-02-04
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“If I enjoy the effort, then it's not such a waste. I believe immigration reform in a big way can happen this year, and I'm just going to enjoy trying to be part of that.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a tough one. Don't have any uniquely brilliant things, but try to make the most of every day. Like, I'm back here in New York. I lived here in New York for multiple years. Sometimes I didn't appreciate how good things were then and try to make sure that I don't make that mistake now. I'm very much enjoying my life now. I'm loving working on this project. Whether I have an impact or not. And who knows? This might be a very foolish lesson that some hedge fund guy goes to Washington and thinks he's going to change things. Who knows if that's really a good idea or a really bad one? I don't know. But I'm enjoying it and I'm trying to make sure I'm in the moment. And if I prove to have wasted some of my time and some of my money doing this.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think their support of my silly game addictions and their encouragement for me to believe that things are possible has been the thing that stuck with me the longest.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I read a blog called Marginal Revolution every day. It was actually co-written by Tyler Cowan and Alex Tabarak at George Mason. I think Tyler Cowen is the most influential living economist. I think he's maybe the most important public intellectual in America today. He does a podcast series. He has his blog. He writes books. He has a whole course of economics that you can take online. He is beyond a polymath and just brilliant. He also just released his book called Stubborn Attachments, which is his statement of his philosophy.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“When somebody intelligence says that financial markets are efficient and anybody who tries to tell you that is impossible, it's both true and not true for most people. That's great advice just by index funds, but specifically when Warren Buffett kind of beats up on hedge funds. But when he beats up on hedge funds, he does it in ways that are both true and not true. And I think he knows that and that kind of pet peeve.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Interesting. My biggest pet peeve is how we debate and think about things in America. And specifically I think ideas are debated based on who has the idea or who proposed it. Again, I'm channeling Annie Duke here again. I feel like I'm the biggest fan of the Andy Duke fan club. I've met Andy one time. She probably doesn't remember me. I met her at a charity poker event and I've been a fan of hers forever. I used to play poker reasonably, seriously myself. So I read her book after listening to your podcast. You got me to be the book and I've probably given it to 100 people since then. But she talks about how anti-intellectual that is and how a clear thinker separates an idea from whoever proposed it. And that's just the opposite of our political culture right now. And I think that's a loss. That doesn't allow for as clear thinking.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I told you I was on Andy Roddick's charity board. I got Andy Roddick and Andre Agassi to do a charity event playing pickleball last year at my house in Austin, raised some money. Now you're seeing a lot of former tennis players come into the sport. The sport's getting bigger. They're starting to be a little bit more money in terms of tournament winnings. We've seen several people start pickleball themed bars, kind of the top golf of pickleball. I'm completely addicted. That's another thing that this immigration passion is kind of ruining. My pickleball game is suffering because I'm spending a lot of time doing meetings for this. I don't get the chance to play as much as I'd like.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Anybody that knows me for the last few years would know that I have a complete addiction to the game of pickleball. For those who don't know what pickleball is, it's the quote unquote, this is the phrase every pickleball player says. It's the fastest growing sport in the world or fastest growing sport in America. About three million players now growing at about 25% a year, which means it doubles every three years. It is, for lack of a better description, the child of tennis ping pong and badminton, or I sometimes describe it as miniature tennis. It's amazingly fun to play. It's hand-eye coordination, it's thinking, it's logic, it's almost like chess. You have to think about where to hit the bow and how you work with a partner. It's usually teams two versus two.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“All the pickyune debates we have about little differences in tax laws, et cetera. They pale in comparison. Getting our immigration policy right, they're small. This is big.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm really committed to this. What I bring to this is passion. I bring some financial resources. I'm hoping other people will join me in that. I'm trying to raise money to spread this idea and make this idea go viral and tell the story more. So I bring some financial, I bring, I think I bring credibility when it comes to what I think on the economic side. But trust me, there are people who are better economists than me and more trained economists. I don't know what percentage, but it would start with a 9 something percent of economists that would hear this would agree that this would be hugely beneficial to our country. One phrase, Professor at George Mason, Brian Kaplan, who says that immigration reform isn't trickled down economics, it's Niagara Falls economics.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very different. I'm learning DC works a little bit. But by the way, as part of this, I'm planning to move to DC for six months starting in January. And if anybody didn't understand that I'm committed to this, the fact that I would move from Austin to DC in January.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I've always been just a ridiculous optimist. I think that's, and both of those words are often appropriate. I really do believe that things can change. And sometimes that proves to be, I certainly haven't been right about things I'm optimistic about before. I've been wrong. I think this can happen. I look at who the key players are and what their incentives are. And I honestly think this is a win for both sides. When I say both sides, both the Democrats and the Republicans, it's also just beyond that, it's a win for America. It's a win for the people who are here undocumented now. It's a win for people that would come in this proposal. It's a win for their home countries and that they would have remittances that they would be able to send back, money they'd be able to send back to these countries. I talked to Scott Harrison today. I said, I'm encouraging him to help me spread this message. So I think it's all very logical. And it's difficult.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“They don't have the right culture. They don't have the right history to do that. We do. We have this amazing advantage that we're not taking advantage of. As of now, we have sometimes some of the smartest students in the world come here to our universities. Sometimes they're given financial aid, and then they want to come and work here and pay taxes here. Some period of time, either for their life. And that's almost impossible. To me, that's the opposite of logic. That doesn't really make any sense.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And it doesn't cost that much money. This is such an easy problem to solve. It really is. And when people hear it, when they give it a fair hearing, a lot of people say, yeah, why aren't we doing that? Here's another fun argument I like to make with people. Let's imagine China could do this. They were capable of bringing 2 million minds from all over the world to come there, pay the money to do it, pay taxes in that country, and build their tech industry and build their medical industry and all the other things that we do. We would hate that We would say this is an existential threat to our country. We'd be up in arms.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Agreed to that. Being true to that is supporting the rule of law. And again, in situations where we don't provide a lawyer to even very small children who don't understand the system, we are in some ways being maybe true to the letter of the law, but certainly not true to the spirit of what we signed. It doesn't cost that much money for us to be better. Because while 1% of the money that I raised in this proposal to do it, and by the way, you get that money back because it reduces detention times. Detention's really expensive. So not only is it inhumane to detain people and separate families and all these other issues that we talk about But it's costly. We can be better on both.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“If a person comes and they have a credible fear that if they're sent back to their country, they'll be hurt or killed. You can't send them back. You have to harbor them until such time that the conditions in that country changes and they would be safe to return.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“To pay fees for these visas 1% of that 700 million, probably actually less than that, but let's just say 1% of the money that this proposal itself raises. Could you have a whole new court system and lawyers for everybody that would mean like the backlog that we have now, which is measured in 300,000 cases, we could catch up and everybody could get due process. So let me back up one more thing. Let me tell you about what asylum is, what our obligations are. So the US and 144 other countries signed the UN Commission on Refugees in 1951. And that happened after World War II because Jewish people who were fleeing Germany were sent back. They weren't granted asylum and many of them ended up dying in the Holocaust. The world said, We're not going to do that again. So the rule is that we signed on to, again, in almost every other country did.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I won't go into more detail on why I think this is the magic of year, but I do. I think that's a very logical reason. Most people I can convince in five minutes if they'll give me an airing on it. And so I saw this kind of forming a few months ago in 2019 is the third year term. This could be a magical time. And the impact that the ideal immigration proposal would have on America is huge. The impact on the millions of people who are here who are law-abiding and working in restaurants and the agriculture is huge. It also offers a path for longer-term visas. So it's both a short-term guessworker program and a long-term program altogether. It also affords asylum reform. The things that I talked about with IJC where we have more judges, more courts, and actually hire lawyers for people. My proposal raises about $70 billion a year in asking employers.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think President Trump has already signaled, not just with words, but also with one action already, that he's willing to meet in the middle and do bipartisan approaches. He says it, and I know a lot of people don't give a lot of credibility to the president always on things that he says, but he already signed this sentence of reform and prison reform measure, which was something that was a bipartisan goal for a long time. I don't think it was a coincidence that he signed that now. I think he is signaling that he's open to bipartisan things. We got awfully close to a pretty big immigration reform in 2013. I think the cards are in place to do it in 2019. And things like this don't happen in even numbers because of the way our elections work. When everybody's running for president in 2020, nobody steps out of line. You get things done in an odd number of years, big things. And you really get them done in the third year of a first term of a president.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Because I think of all the years when this is possible, 2019 is the year for massive immigration reform. Let me make that case in a number of different ways. First of all, what typically happens in many presidencies, not just the Trump presidency, is the president comes in, he ran with a certain appeal to his or her base and is true to that base for the first two years. They learn that they lost the middle in being true to their base and they lose the midterms. This is not the first time this has happened. This is a recurring pattern. Then what do you do? They do what they call politics triangulation. You move to the middle and you move hard because you want to get re-elected in two years. So if you look at a lot of the major policy changes we've had in American history happens in the third year of a first term of a president.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I need to get in front of politicians. I need to get in front of thought leaders. I need to get in front of public intellectuals and make the case. So I've met with a number of politicians already. And the diversity where they are on the political spectrum is very wide. And they all like it, not just both. I've met with a number of different politicians. And they've offered me wonderful advice on who's important and who needs to be influenced. I have a strategy. There's a lot of work between now and then.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, good question. I'm trying to figure that out myself. With the help of, like I said, a great group of people in Austin who have probably been at this for about four months, created a website, which is step one. I'm working with some really talented filmmakers to do a short film. And my goal is to do something along the lines of what charity water did in their video called The Spring. If you haven't seen the Charity Water video this spring, go watch it. If you don't cry and open your checkbook after watching that video, I'll be surprised. It's amazing. That's another reason I'm about Scott Harrison this morning is like get his advice. How do I tell this story? How do I open people's heads and hearts to this possibility? So working on the video. I've hired a lobbyist group in DC to help get me in front of people on this. I'm reaching out to all of my friends, former colleagues, and I'm basically telling them that I'm calling it every favor.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“proposal, an ideal stands for immigration designed to enhance American lives, the ideal immigration proposal. You can read about it on idealimigration.us, our whole policy of how it works. And I'm happy to talk about the details. We don't have to.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Terms of remittances. So our official aid to Honduras is something around $400 million. Remittances are five or six billion. I think in this proposal, that would double again. And if we want to solve global poverty issues, immigration's the best way to do it. So Professor George Mason University, there's a couple. There's Brian Kaplan and Alex Tabarak, who've done a lot of work on this. And Tabarock wrote that this is the greatest anti-poverty program in the world. And we do it, by the way, not at a cost to us, at negative cost. We gain from it. This is America first and the world first. It's not either or. So my passion project is me and a group of folks in Austin, some of my best friends, have formed 501, a C4, and a PAC around a massive immigration reform proposal that we call the ideal immigration.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“A holiday or any other family gathering makes that possible. They can start paying taxes. Some of them do now, even though they're illegal, which is a crazy system. The IRS allows you to pay taxes even if you're undocumented. It's vastly better for the immigrant slides. And then the final impact is the greatest anti-poverty program in the world would be increased immigration.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Foolish not to let them and not to embrace them, especially if they want to follow the rules, if they want to pay taxes, if they want to be law-abiding. I think we could let in amazingly talented people who are law-abiding and use some of the money that we gain from that process to actually strengthen our borders. And I think that's the compromise that's out there politically. I think there's a huge win-win policy that makes America stronger, makes our economy stronger. Makes us safer. Helps us compete against China when it comes to technology. And then it makes the millions of people who are here undocumented, who are just working every day. Their life better because they can sleep at night means that they can now travel back to their home countries if there's a wedding or a funeral or”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Is the kindred biosciences of my philanthropy portfolio? I already mentioned the IJC and immigration and kind of my feelings on that. And immigration is a topic that not only affects my heart. When I talk about IJC, I'm mostly talking about my heart and kind of cheering for the underdog, just kind of recurring theme and things that I support Also appeals to my head. The economic impact from immigration is massive. If we had a smarter immigration policy, I think we could boost our GDP by another 3% a year. So if we're at 4% GDP now, I think we can get to seven. I think we can uniquely do that in America because we have an immigration story that's a part of our past true to our ideals. The most talented, hardworking, amazing, ambitious people in the world want to come here.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's the last thing I want to do on a Tuesday night when I'm working my tail off. But he's an investor. He was a friend. I said yes. And literally three minutes into it, I'm like, this is the best thing I've ever seen. And eventually I was a board member of that when I lived in New York. That's how inspired I was. It's that amazing. I did not want to go three minutes after being there, I was like, this is amazing. And now we're trying what Diana's help. We're in year two. I think young people's course just celebrated the 25th anniversary, I believe. I should know that. But I'm pretty sure that's right. We're not quite as big or we don't quite have the same organization that they've built, but that's our goal. But it's already great. The impact we've already had on the children's lives is unbelievable. You can, again, you see it in their faces. So super happy about that. So that's some of the things I do.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's funny. It happened because one of the investors in my hedge fund was on the board and said, you have to come to this gala this year. When he said that, I really want you to come to this kids' youth choir.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“They performed when the Pope came to the nine hundred eleven memorial. They are off the charts, life changing to see the young people's chorus perform.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, had coffee this morning with Scott Harrison from Charity Water and one of the great storytellers in philanthropy and with a cause that's unbelievable, providing clean water to everyone on the planet. And Scott is amazing. I'm a member of what they call the well. It's a group of people that donate to the charity to cover all their costs of administering so that other donors who donate to 100% goes directly to the projects and super happy to be part of that last but not least me and the executive director of my foundation, the ASK Foundation, Diana Greenfield have started a youth choir in Austin called the Young Voices of Austin. And we have kids from all over the city singing together. It's modeled after the young people's chorus of New York City, which if you have listeners in New York and you ever have a chance to go see the young people's chorus, you'd be a fool not to. They are unbelievable.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Year olds having to represent themselves In court, there's going to be a major show on probably be out on HBO by the time we this actually airs called Icebox about a young immigrant going through the legal system on his own and the craziness that that is. To me, that's not what due process is. It's not our better selves as a country. The phrase that one judge said, this was actually aired on last week tonight in John Oliver's show is. Sometimes we are doing death penalty cases in traffic court. And it doesn't seem like it's our best selves. So this is an amazing organization. It was funded by Judge Robert Katzman here in New York who saw this kind of appalling situation and tried to fix it. So super proud to be a founding board member of that organization.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“In the five years that I've on the board, I'm not at all claiming that. Coincidentally, with me being on the board and other amazing people on the board, the organization's growing. The love for it in Austin is off the charts. So that's been amazing. I am a member of a board of a charity actually based here in New York. I became a member of the board before I left New York called the Immigrant Justice Corps. And what they do is they provide pro bono legal advice to people who have immigration challenges. And we're going to talk more about immigration because that's my passion project. But a lot of people don't know is if you come here with an immigration challenge, if you're claiming asylum or what have you, because you're not a citizen, you're not guaranteed a lawyer. There have been cases, if you've watched the show last week tonight, there have been cases of”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“After school and out of school time. So after school and summer activities for kids in East Austin, which is the area of town that's not as well off financially. And Andy and his wife, Brooklyn Decker, are awesome. The kids love them. They have after school programs, which are mostly educational, math, and STEM and reading. But they also have this great summer program where the kids get like week-long exposures to different sports, different ideas. They'll do chess and they'll bring chess teachers for a week. These kids have so much fun with it. And Andy and Brooklyn are amazing. The support in Austin for the Andiotic Foundation is immense. It's just been a real joy to be a part of it. The organization has grown by, I don't know, a factor of...”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Or where you I'm on the boards and supporters of a number of different charities. I've been on the board of the anti-rotic foundation in Austin, Texas for the last five years”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Again, I think it's perfectly fair and logical thing to do. I'm not against index funds. By the way, even most people investing in hedge funds the way it is now and with how complicated it is in taxes and everything else. I think it's not for everybody. Another problem I think it would be better solved is if there was a structure that people can invest in hedge funds that were more user-friendly. Right now it isn't and to some degree intentionally. That's kind of the goal of the laws. But I think there are pros and cons of that.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And say no. I generally just don't think that way. Maybe I'm inspired by your Annie Duke podcast. Basically, you take in as many ideas as possible and you try very carefully not to dispose of ideas or to rule out things based on abstract categories. That's what makes for a good contrarian investor is you don't do that.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“My first reaction is no, because I feel like I'm a contrarian. And anytime you'd say, I wouldn't do this no matter what, it doesn't ever feel like the right answer. So whether it be things like maybe I had a moral concern, like I wouldn't invest in something because I think that that industry or that company is doing something that I would consider.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And then I have some things in very, very safe things, municipal bonds. And so they're great if they work. I spend most of my time thinking about charity and philanthropy. They're on five different charity boards. And If these things work out in Vimo makes me a lot of money, which I knock on wood, I'm hoping that happens, it's probably not going to change my life that much. It's great, but it means that the things I care about will benefit. So I'm taking risk in some sense for the things that I'm trying to fund. Again, that makes the game more fun for me. It makes it more relevant. It makes it more impactful.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And since these companies have skin in the game to take something from our friend Nassim Toleb, if they're not adding value to the students, they don't get paid. If they take a person making $40,000 a year and only make $40,000 a year after their class, they should suffer from that. That seems to be a better model for how education should work. And by the way, this isn't limited necessarily to computer training. It could be for welding. It could be for plumbing. It could be for any number of industries where it takes an investment of time and money to upgrade your skills. It doesn't just have to be limited to technology.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“When you come up with a hundred thousand dollar job, companies are so desperately in need of various computer skills, we can train you intensely for three months, and then you can have this job, but it's expensive. Now here's a pitch for one of those companies. They could say, instead of you paying $25,000, We'll take ten percent of your increase in income for the next five years and it's free. So if you in fact go from $40,000 to $100,000, we'll take $6,000 a year for the next five years, and that's how we get paid. That seems like Not only is it a good model for the firms who hire VMO because they gain market share, but it actually is opening up that opportunity to people of lesser means. I think it's democratic. It's leveling the field. And if you understand what the use cases are, I think it really is great. It's great for the world.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“When I first describe it to people, they think it's idiotic. And then if I spend like three minutes explaining why it's not idiotic, they usually kind of come around. They do something called income sharing agreements. And the idea is you're selling some of your future income for money today to go to school, which sounds terrible. I know it's indentured servitude. I get how that doesn't sound great. But let's think of one use case for this. You might know about these computer coding academies, galvanize general assembly, et cetera. And typically it's a three-month, very intensive course to learn something in computer programming where it could be how to build a website. It could be any number of things. And people typically pay anywhere from 25 to $30,000. It's a three-month intense of course. It's 12 hours a day, six days a week. And the pitch is you go into this with a $40,000.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I've done some investing in local companies in Austin. I've also done some kind of venture capital type stuff. I actually just invested with a group called NextGen Venture Partners, part of Brown Advisory, who I think I do a great job. I've done some of my own companies, some of which I have really high hopes for. As an early investor in a company called Vimo Education, which I think is brilliant. I hope that's going to really, really work.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“It doesn't get a lot of attention. I think the end game is some of the other drugs Developed. Miratez continues to grow in market share, and somebody buys them for more than 500 million, hopefully.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“More than enough funding to get cash in the bank. To me, this looks like Really cheap option struck below what the value of the company already is. And that seems like a good, it's a small company. Nobody follows it. That's why it can be the customer.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Wouldn't believe that that's a problem. Apparently, it's a pretty big problem. And Meertaz is a drug. You can literally just swab into their ears and it fixes the problem. It's already launched. It's incredible uptake already by that drug alone, I think, is worth more than the value of the company in terms of its potential to make money. And they have 20 more drugs in the pipeline, including comms that are already through several stages of trials.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“Take this with me. It's a small cap. So no accusations. I own the stock. It's called Kindred Biosciences. K-I-N is the ticker. K-I-N. And they're an animal pharmaceutical company. And here's the general pitch for animal pharmaceuticals. Animal drugs are only worth one-tenth what human drugs are worth. But they cost one one hundredth to develop. That's the math. They have a new drug out called Miritaz, which is helpful for, I know this sounds weird, cats who have lost their appetite.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's funny, I don't look at screens basically ever. I don't watch CNBC or Bloomberg TV. I love the folks there. Sorry, I don't watch you anymore. I'm sure you're still doing great work, but it's just not a part of my daily life anymore. I'm thinking about other things So I have a couple of companies, actually probably 10% of my net worth is in one stock because I think it's that mispriced. A friend of mine is obsessed with it and he has convinced me that its expected value probably one-fifth the true value of the company.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“And investors want to meet the leader, whoever that is, whoever he or she is, they want to meet that person. And if that means getting on an airplane, that means you're not sitting in front of your screens that day. It doesn't work. They could say, this is our third-party marketing person and they have the right incentives and they're aligned. It goes to the secret sauce of kind of how I want this idea to work. I think that would make their chance of success in the first year go way up. And that would be a game changer. That's the essence of what really is the value add for the funds that would work with this entity.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there's a solution to that too. I think, by the way, the biggest thing you'd be helping the new funds with is marketing. And helping them tell their story. Because a new hedge fund manager, they have to have a great first year in terms of their performance. And they have to raise money. And there's only so many hours in the day.”
2019-02-04 · Capital Allocators · Steve Kuhn – Life After Hedge Funds (Capital Allocators, EP.85) · IDENTIFIED FROM THE TRANSCRIPT · source