Lee Ainslie on entrepreneurship
From Maverick Capital founder on when he knew it was time to take a risk · · David Rubenstein
“It was a really tough conversation because Julian had been incredibly generous, kind, gave me this great opportunity, but in hindsight, I was a little naive and probably a little arrogant and I had probably a little more confidence than I should have in my ability to succeed.”
On , Lee Ainslie, Founder & CEO at Maverick Capital, spoke about entrepreneurship during Maverick Capital founder on when he knew it was time to take a risk on David Rubenstein.
About Lee Ainslie
Lee Ainslie, founder and managing partner of Maverick Capital, has discussed his firm’s long-term investment strategy, hiring philosophy, and philanthropic focus in a series of interviews. Ainslie stated that Maverick has maintained a focus on shorting individual stocks it believes will underperform the market, and that the firm typically holds stocks for an average of a little over one year, with some positions held for eight years or more. He described the firm’s team-oriented culture, saying Maverick is “not really as focused on an individual’s contributions” and that the firm emphasizes “emotional consistency” in its hires)Skip. Ainslie also noted that artificial intelligence and robotics will have a pervasive impact on industries, and that cybersecurity spending is a strong secular trend. Ainslie reflected on his decision to leave Tiger Management to start Maverick Capital, calling it a “tough conversation” with Julian Robertson)Skip. He credited the Wally family for backing him. On philanthropy, Ainslie said poverty has been his primary pursuit through the Maverick Capital Foundation and the Robin Hood Foundation, and he praised the hedge fund industry’s culture of cooperation in philanthropy. He described his role at Maverick as one he plans to maintain for at least another decade, citing his enjoyment of the work and the team he has built.