Traditional private equity is always on a clock, says Nico Lechuga. Funds run seven to ten years, so businesses get flipped in three to five. Lechuga, a founding partner at Ego Death Capital and co-founder of ORANGE JUICE, explains how permanent capital and a Bitcoin treasury could give owner-operators another option.
Chapters:
0:00 Meet Nico Lechuga of ego death capital and ORANGE JUICE
0:31 Why Private Equity’s Fund Model Keeps Owners on a Clock
1:16 What Makes a Good Acquisition Target for a Permanent Holding Company
3:11 Bitcoin or Another Business: How Free Cash Flow Gets Allocated
4:33 Why Debt Is a Drag and How Permanent Capital Differs
7:23 Owner-Operators as Frontline Intelligence, and the Role of Roll-Ups
9:12 How to Tell a Real Bitcoin Business From a Pitch
11:30 Competing With MBA Search Funds for Small Businesses
12:29 Brand as an Edge: The People Behind ORANGE JUICE
13:34 Acquisition Currency and Crossing the Chasm
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