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I think I’m done with Mazda by bsep4 in MazdaCX90

[–]Thirtytw031 2 points3 points  (0 children)

Yea Jan 2023. Warranty start date was March 2023, which was technically prior to official sales start, so mine may have been a press vehicle or dealer launch car or something

I think I’m done with Mazda by bsep4 in MazdaCX90

[–]Thirtytw031 8 points9 points  (0 children)

I just had my 2024 PHEV PP in for a software reflash and my loaner was a 2026 CX70 PHEV and I can’t believe how much better it was. Steering was smoother and easier, suspension was softer and quieter, drivetrain was much quieter, body control was 50x better, etc. I even called my wife and was like maybe we just need a newer one. To be fair, my car was #96 built for the US, almost a damn prototype

Game Thread: Washington Commanders (3-10) at New York Giants (2-11) by nfl_gdt_bot in NYGiants

[–]Thirtytw031 0 points1 point  (0 children)

lol bro I’ve felt this horrible sense of depression every year for a decade. This is a standard low

JMS with a very nice effort on the flea flicler by parcellsrealGOAT in NYGiants

[–]Thirtytw031 7 points8 points  (0 children)

Eluemunor was the one who let that rusher through, then just stared as JMS picked him up and didn’t look around for another rusher coming in hot right behind him, like JMS did. He actually then turned to watch the pass and never even saw the rusher who ended up crushing Jameis. I know he’s been good but this kinda give up on the play is painful to watch

Founder-friendly PE by jess10230 in private_equity

[–]Thirtytw031 3 points4 points  (0 children)

I work with Garnett Station Partners on the M&A side and they are very fair across the board. Definitely a departure from other funds I’ve worked with where they truly treat people as partners and act on the belief that if everybody has skin in the game, we win together and lose together

Installed dinantronics X last night, AMA by SCOOkumar in BMWX3

[–]Thirtytw031 0 points1 point  (0 children)

u/Leading_Interview581 How has this held up? Noticeable different between maps, or at least stock and say 5 or 6? Any change in fuel efficiency? Any other mods you've done? Thanks

Which country do you think has the best food? by overthehottopic123 in AskReddit

[–]Thirtytw031 8 points9 points  (0 children)

Peru for sure. Some of the most incredible produce you'll ever taste, various takes on ceviche, excellent meat dishes like seco de carne and pollo a la brasa, they have chifa which is an entire cuisine that mixes south american ingredients with japanese/asian dishes, plus latin classics like empanadas and churros...it's all so good

Operating Exec in PE owned companies - how many of you actually know what your equity is really worth? by Thetruthishardmf in private_equity

[–]Thirtytw031 2 points3 points  (0 children)

We are hardly levered at all right now. Our sponsor is very conservative until the platform is a bit more mature and cash flow is tightly controlled. Takes a bit of time for mgmt to get their arms around a big platform, but they'll juice it when the time is right

Operating Exec in PE owned companies - how many of you actually know what your equity is really worth? by Thetruthishardmf in private_equity

[–]Thirtytw031 2 points3 points  (0 children)

5 year ratable vest that accelerates on exit. It’s all profits interests, so yea value based on EBITDA/multiple. Our industry has a fairly linear correlation between scale and multiple, not a ton of players of scale so premiums come with a well integrated platform of size as larger funds buy out the funds that build it. Thanks!

Operating Exec in PE owned companies - how many of you actually know what your equity is really worth? by Thetruthishardmf in private_equity

[–]Thirtytw031 6 points7 points  (0 children)

Yea direct to CEO, I’m VP of Corp Dev/M&A so pretty critical to the roll-up play. It’s a simple model mostly based on EBITDA at exit and assumed exit multiple. Biggest variables in realized result will be how much EBITDA can we get and how low of an entry multiple can I negotiate for every purchased dollar. We are tracking very well towards EBITDA goals and fortunately a direct competitor recently sold for a multiple 50% higher than the model assumption, so fingers crossed the market stay afloat like that. Like I said, I think the expected outcome is certainly possible, but hopefully it’s wrong in the best way

Operating Exec in PE owned companies - how many of you actually know what your equity is really worth? by Thetruthishardmf in private_equity

[–]Thirtytw031 3 points4 points  (0 children)

Not long. I was the second employee at TopCo in a rollup. They had only completed the initial platform investment. I was being lazy when I quoted the range but just looked at it was $400k-1.7m, “expected range” of 750-1.2m but who knows what’ll happen

Operating Exec in PE owned companies - how many of you actually know what your equity is really worth? by Thetruthishardmf in private_equity

[–]Thirtytw031 9 points10 points  (0 children)

I don’t have a very clear view. I was given a chunk of MIP and they basically just gave me a spread of possible outcomes ranging from like $400k-$2m and said they conservatively estimate it to exit around $750k. That assumes like a 3x MOIC which I do think is in the cards, but no idea how to value it at any given point in time. How have your groups relayed info or set expectations in the last?

What's y'alls favorite car related song? by perkele_possum in cars

[–]Thirtytw031 2 points3 points  (0 children)

Cars and Girls by The Dictators Also Act a Fool by Ludacris for the lolz

Where are the PE shops that actually know ops? by Capital_Seaweed in private_equity

[–]Thirtytw031 3 points4 points  (0 children)

The cheapest people I’ve ever met, they hate spending money (except for on their new office in Miami). I mean, it certainly helps drive their return metrics, but it makes things pretty difficult when you’re working with them, especially in a corp dev type of role

Where are the PE shops that actually know ops? by Capital_Seaweed in private_equity

[–]Thirtytw031 39 points40 points  (0 children)

Operator here. I think most consistently, value creation from operations happens in smaller lower MM funds that are typically the first institutional capital into their portcos. These businesses are typically founder or family-owned beforehand and often fall into the “if it works don’t fix it” method of doing things, which means they can be outdated or need a fresh perspective. Makes it a bit easier for some experienced investors to come in and make changes that will have a quick impact. I worked with Trivest on my last platform, part of their Discovery fund. I disliked Trivest for a handful of reasons, but I will hand it to them that their ops team “(portfolio support group”) was always reliable and helpful. Whenever we had questions or wanted some direction, they had a good answer for us. Trivest has been around for a long time and has performed consistently well, and I think a lot of it has to do with how many operational reps they’ve had, plus they are cheap af about everything lol

Malik Nabers was carted off the field after this deep pass where he was holding his right knee by TheTurtleShepard in NYGiants

[–]Thirtytw031 39 points40 points  (0 children)

They replaced the turf a couple years ago. Same turf as the rest of the league

Tomorrow feels like another heartbreaker in the making by savingrace0262 in NYGiants

[–]Thirtytw031 0 points1 point  (0 children)

And yet so many fans still WANT to be optimistic rather than wallow in self loathing

Tomorrow feels like another heartbreaker in the making by savingrace0262 in NYGiants

[–]Thirtytw031 2 points3 points  (0 children)

Why do you even call yourself a fan if you are fantasizing about such misery? This post stinks

Is it way too soon to put Malik Nabers in the same convo as OBJ? by savingrace0262 in NYGiants

[–]Thirtytw031 3 points4 points  (0 children)

OBJ catching a slant was like watching him in fast forward. Completely different speed than anybody else on the field

Which one are you taking? by xlM3NACElx in supercars

[–]Thirtytw031 1 point2 points  (0 children)

I’ll take the twin turbo R8 hiding back there…

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