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E81: All-In Summit: Bill Gurley & Brad Gerstner on markets, downturns & investment cycles
All-In with Chamath, Jason, Sacks & Friedberg
CP on losing money by holding on to Slack stock
The speaker recalls holding onto Slack stock during the pandemic instead of distributing it, leading to a significant loss of money. Despite initially believing in the company and being amped up about it, the pandemic caused panic and a rushed distribution decision, leaving substantial money on the table. This experience taught the speaker a valuable lesson to never hold onto stock for others when it's liquid, to promptly distribute it, and only hold for personal shares with a clear point of view. The speaker emphasizes the regret and the 50% loss incurred from trying to hold on against the market conditions.
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