WeCommerce's $520M Drop

A discussion about how WeCommerce's valuation dramatically dropped during market downturn.

Sam Parr brings up: "Two years ago you owned WeCommerce, which is a collection of Shopify plugins and other products. It's a really good business. I forget what it said in the annual report, but it's publicly traded, doing like $50-60 million a year in annual revenue. At its peak the stock was like $600 million, it was crushing it. Now like the rest of tech, it's just been decimated to like $80 million."

Andrew Wilkinson responds with his perspective: "If I was just a pure entrepreneur, it might affect me more. But I've spent the last 10 years learning about investing and reading about Warren Buffett. Warren Buffett's mentor Benjamin Graham has this whole idea of Mr. Market - the stock market is like this moody person, it goes up and down. At the end of the day, if you know what your business is worth, it's irrelevant what the stock market says it's worth. Sure, there's a little bit of an ego hit seeing your net worth have some zeros pulled off, but at the end of the day I know that number is made up anyway. I just go 'Do I still own a great business?'"