PJ Celis
@celispj
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Founder & Chairman @judgeme_reviews. Building trust in commerce. 475K+ active merchants. 10 million ARR with 15 USD / mo Awesome plan.
London, UK
Joined October 2012
@BillAckman @pepsi @CocaCola @PepsiCo Sugar is too demonized. It's the seed oils and processed crap that you need to avoid.
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@sidbetala High consumer surplus. That’s the best moat, especially if you are the only player with the scale etc to offer it. Charging max you can leaves very little for consumer. Low quality revenue.
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@adamwooding @heymantle We didn't build any of it and just shipped software. Using Mantle now but the foundation will always be shipping product.
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@DanielleMorrill Test drove Model 3 and Y a year ago. Y is so much more car than 3 for barely any extra money, I wonder why anyone buys a model 3.
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@AnonymousCTO @awilkinson 5 million at 3% is 166, make it 200 to get some a budget for a dream house or two. Makes sense to me. But people that get there will want a buffer too, so now we need 300-400.
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The fundamental flaw in Scott Galloway's thinking is not the trust he had in mainstream polling, which is merely naive. It's that he assumes too few in the Polymarket "younger, male, Trump" demographic are capable of meta-thinking. Reveals a lot about his flawed worldview!
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Less software engineers doing more work. It's coming and it's coming fast!
- sam says programming and SWE will be completely different by the end of 2025 - zuck says AI will replace mid-level engineers in 2025 at meta - emad says AI will first replace outsourced work in countries like India - salesforce may not hire SWE in 2025, and replace them with agents - klarna is replacing workers with AI
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This is because founder led companies are more likely to be run with a long time horizon, leading to large consumer surplus left unmonetized (on purpose and on principle). As @tobi phrased it on @lennysan 's podcast recently, great companies build value levers they can pull and then the job of the founder is to never pull them! gets insane amount of PE interest because you can obviously shorten your time horizon by massively increasing the price, and then selling the business after 18 months at 3-5x the revenue. If you can buy a long time horizon business at short time horizon multiples, with leverage, you will make insane money. All you need to do is pull all the levers and you look like a (short term) genius in your spreadsheet model. So each PE email is effectively some midwit finance bro trying to steal a bunch of money off of naive founders. You find 1 deal like this and you can retire (or raise your next fund based on the insane IRR of your first search fund.) Occassionally I talk to some of these people to play with my food a bit. The disappointment on their faces when they realize I understand their game and I know the real value of my business 🤣🤣🤣
Here’s what private equity generally believes: Family/founder owned firms are not run well, therefore there is more upside acquiring these co’s than other co’s where you have a PE firm on both sides of the transaction. That 2nd consecutive PE owner doesn’t have the same “low hanging fruit” as the first. Plus: I’d wager most PE shops engage in short term decision making in prep for the sale, at the expense of long-term performance.
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