Aswath Damodaran: The Corporate Life Cycle: Business, Investment, and Management Implications

My guest today is Professor Aswath Damodaran, who teaches corporate finance and valuation at the Stern School of Business at NYU. He says that he is a teacher first, who also happens to love untangling the puzzles of corporate finance and valuation, and writing about his experiences. He believes that businesses, education, publishing and financial services are all big, inefficiently run and deserve to be disrupted. He believes he may not have the power to change the status quo in any of the three, but he can stir the pot. Summary In this conversation, Professor Aswath Damodaran discusses his journey in corporate finance and valuation, reflecting on the lessons learned from financial crises and the importance of understanding the corporate life cycle. He emphasizes the unique characteristics of the U.S. startup ecosystem, the significance of management styles at different stages of a company's life, and the evolving nature of ownership in businesses. The discussion highlights the need for investors to adapt their strategies based on the life cycle of companies and the importance of recognizing uncertainty as a feature of investing. In this conversation, Professor Damodaran discusses various themes related to investing, including the shifting investor base, the role of founders, lessons from family businesses, the balance between survival and thriving, and the complexities of investment quality versus management quality. He emphasizes the importance of comfort investments, the need to embrace uncertainty, and the broader definition of success that goes beyond mere wealth accumulation. https://aswathdamodaran.blogspot.com/ Podcast Program – Disclosure Statement Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.