scripod.com
Uncapped #29 | Thomas Laffont from Coatue

Overview

Shownote

Highlights

Transcript

Chapters

Pins

Uncapped #29 | Thomas Laffont from Coatue

Uncapped with Jack Altman

Oct 22
Uncapped with Jack Altman

Uncapped with Jack Altman

Oct 22
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

Thomas Laffont is the co-founder of Coatue, one of the world’s largest technology investment platforms active in both the public and private markets. Thomas leads the firm’s private investment platforms across early-stage and growth, and oversees their software investments across private and public markets. Coatue has partnered with some of the most enduring and impactful companies of the last two decades, including Applied Intuition, Canva, Databricks, Figma and Rippling. Thomas began his career at the Creative Arts Agency, where he represented artists in film and television. A few highlights: The system of record being over Wanting to be a founder’s second call Investing with a wide aperture Tom Cruise validating star quality Working with family --- Timestamps: (0:00) Intro (0:25) Making sense of the current cycle (5:31) Investing from inception through IPO (10:36) Depreciation of the system of record (14:04) Value beyond databases (18:46) Winning strategies in venture (23:43) Operating at early-stage (28:56) Navigating investing conflicts (34:29) Wide aperture lens of investing (36:45) Star quality being a reality (40:30) Firm strategy and decision making (48:25) Everything that’s great about golf (54:34) Working with family (57:20) Advice to young professionals --- More on Thomas: https://www.coatue.com/ https://x.com/thomas_coatue More on Jack: https://www.altcap.com/ https://x.com/jaltma --- https://linktr.ee/uncappedpod Email: friends@uncappedpod.com

Highlights

In this insightful conversation, Thomas Laffont, co-founder of Coatue, shares his perspective on the evolving landscape of technology investing, the shifting foundations of enterprise software, and the intangible qualities that define exceptional founders. From AI's transformative impact to the cultural dynamics of building a global investment firm, the discussion delves into the strategic mindset behind long-term value creation in tech.
00:25
Cash-flow negative companies are now leading AI infrastructure investments, unlike in previous cycles.
08:33
Nuclear is considered a critical technology for AI infrastructure
10:36
Within three years, every enterprise interaction will be recorded as default.
16:40
Gong re-accelerates with generative AI, extracting best sales practices and cutting ramp time for reps.
18:46
We act like a fisherman traveling up and down the river to find the best opportunities.
23:43
Missing an early round doesn't mean missing the company—it's about long-term alignment with founders.
28:56
Back founders, not just companies—be their second call.
34:37
Curiosity is a hallmark of great investors, enabling them to explore diverse ideas and uncover hidden opportunities.
39:45
Founders need a strong presence and aura, even if polarizing.
40:30
Great investment decisions can be contentious, but early collaboration builds internal momentum.
53:42
A good golf teacher is essential for transformation in the game.
54:34
The biggest positive of working with family is no politics—there's complete trust.
1:00:23
Being the best gift-wrapper at CAA taught me that attention to detail defines excellence

Chapters

Intro
00:00
Making sense of the current cycle
00:25
Investing from inception through IPO
05:31
Depreciation of the system of record
10:36
Value beyond databases
14:04
Winning strategies in venture
18:46
Operating at early-stage
23:43
Navigating investing conflicts
28:56
Wide aperture lens of investing
34:29
Star quality being a reality
36:45
Firm strategy and decision making
40:30
Everything that’s great about golf
48:25
Working with family
54:34
Advice to young professionals
57:20

Transcript

Thomas Laffont: I looked at maybe the top 10 to 15 P&L winners that I've had over my career on the private side. Without exception, my first opportunity to invest was a no. It might have been a no from me to the company passing, or vice versa, the company ...