In Episode #19, we explore investing in Web3 and private credit. We’re joined by Rennick Palley, Founder and CEO of Stratos. We cover learnings from Rennick’s work at Sanders Capital, reflexivity in investing, and how venture-backed tech is underlevered.

“I think every stock that has future growth can be value, and every stock that is value can also be growth. They go together.” – Rennick Palley

EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED)

https://www.danielscrivner.com/notes/rennick-palley1-outliers-show-notes 

FULL TEXT TRANSCRIPT

https://www.danielscrivner.com/notes/rennick-palley1-outliers-transcript 

CHAPTERS

This episode is our definitive guide to investing in Web3 and private credit. In it we cover:

• (00:00:00) – Introduction
• (00:02:10) – Rennick’s background and how he got started in investing
• (00:07:37) – Learnings from Rennick’s work at Sanders Capital
• (00:21:17) – Intro to Stratos Technologies
• (00:26:13) – Reflexivity in investing
• (00:31:55) – Capital structure, and how venture-backed tech is underlevered

ABOUT RENNICK PALLEY AND STRATOS

Rennick Palley is the Managing Partner and Chief Investment Officer at Stratos Technologies. Since founding Stratos in 2016, Rennick has led over $250 million in venture debt financing for companies like Dave, Tala, Resy, and ClearBank. Before founding Stratos, Rennick worked as a research associate at Sanders Capital, the 40 billion global equity manager founded by Lewis Sanders, formerly Chairman and CEO of AllianceBernstein. Rennick holds a bachelor's of science in applied mathematics as well as mechanical engineering, and he also has a master's in quantitative finance from MIT.

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Learn timeless lessons on work and life from iconic founders, world-renown investors, and bestselling authors. Outlier Academy is the forever school for those chasing greatness. Past guests include Gokul Rajaram of DoorDash, Scott Belsky of Benchmark and Adobe, Joey Krug of Pantera Capital, Mark Sisson of Primal Kitchen, Luke Gromen of The Forest for the Trees, and Brian Scudamore of 1-800-GOT-JUNK.

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ABOUT DANIEL SCRIVNER

Outlier Academy is hosted by Daniel Scrivner. Over the last 15 years, Daniel has led design teams at Square and Apple, turned around a $3M+ ARR SaaS business, and invested in more than 100 companies. He launched Outlier Academy in 2020 to learn from the world’s best founders, investors, authors, and peak performance experts.

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