Actually, vulture capitalist is just the term-of-art. What she is describing is the need for Job-ian patience combined with the reflexes of a rattlesnake when the time to strike is at hand.
From her Twitter timeline:
Tend to agree with @RobinWigg on this. It would be very cool if journalists could club together to create their own platform in a way that does not require dodgy billionaires, states or crypto to underwrite it. But Substack has too many legacy liabilities/sunk costs to make this work - new retail buyers will just be propping up the corp until an IPO (that will likely never happen).
The writers would be better off starting afresh, ideally by forging a legal partnership that then waits on the sidelines until Substack collapses. Then they could sweep in to acquire the infrastructure, databases etc for $1 or less -- and restructure the business model in a way that makes it actually work....
....MUCH MORE, including a commenter who refers to Semafor without mentioning Bank-man-Fried or the Chinese influence group.
Like Warren Buffett in early September 2008, biding his time to make a bid for something, doing an hour's worth of research and swooping on Constellation Energy on the 18th of that crazy, crazy month, I too watch and wait, coiled and ready:
So there I am, glancing at NVIDIA, biding my time like the panther waiting to pounce, $135, come on now, just a little bit closer and What. The. Hell?
Okay, maybe not really waiting to pounce, maybe waiting for something to land within a few inches.
So I don't over-exert myself:
