Note: This article is for educational and informational purposes only and does not constitute investment advice.
Thank you to everyone who joined the inaugural BREAKINGWATERS Expert-in-Conversation session with William De Gale, Lead PM of the BlueBox Global Technology Fund and Author of The Successful Technology Investor. It was a fantastic session, and we benefited greatly from his near 30 years experience of investing in public technology companies.
We covered a lot of ground, from his insights on “direct connection” to his feelings on the “vibe” of today compared to the internet era up to how he thinks about technology company valuations.
The running order is below, enjoy!
0:00 - 5:16 | Intro and Speaker Background
5:16 - 6:26 | How do you think about Tech investing?
6:26 - 11:35 | Direct Connection
11:35 - 13:07 | How do you define a Technology Company?
13:07 - 14:45 | Is the vibe today similar to the early internet period?
14:45 - 15:45 | Direct Connection is progressing
15:45 - 18:40 | Is it different now with AI build-out constrained vs demand?
18:40 - 21:55 | How are you playing it?
21:55 - 25:40 | What is your emphasis on valuation?
25:40 - 27:25 | An oasis in the desert
27:25 - 28:50 | Prefer dull businesses
28:50 - 32:20 | Avoid companies everyone likes, except when everyone says it’s the wrong time to own them
32:20 - 35:50 | Is software doomed?
35:50 - 39:50 | What dynamics do you use to choose when to enter tech subsectors?
39:50 - 41:10 | How do you see the Asset Manager of the Future?
41:10 - 43:20 | Which metrics distinguish software businesses that can absorb AI?
43:20 - 44:00 | Outro
I hope you enjoy the session.
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