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Patience Pays Off, Going the Distance, How to Operate, and Highlights from 2022
Social Leverage Letter | Issue #70
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3 articles, 2 podcasts, and 1 video.
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HAPPY NEW YEAR!
READING
Patience is a difficult but necessary quality to cultivate in order to achieve long-term success. It requires determination, a team, openness, trust, gratitude, and humility. It is hard because it is hard, and because our brains are wired to favor the present and short-term. Patience requires endurance against obstacles, and the ability to withstand hardship and under-performance. It also requires the ability to resist the temptation to prioritize action over all else.
The number of new unicorns created globally has been more than cut in half in 2022 due to a difficult investment climate caused by persistently high inflation, which is expected to worsen in 2023. According to data compiled by Tracxn Technologies and Moneycontrol, just 244 new unicorns were created globally this year.
Constellation Software is a publicly-traded software holding company that was started in 1995 with $15 million of outside investment. The company has grown rapidly since 2003, with revenues increasing from $80 million to more than $5 billion, and acquisitions increasing revenue by 33%. The company operates with a team of 30-40 people across 5 operating segments, and is an example of a different path to creating a generational software business.
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HIGHLIGHTS FROM 2022
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