Le Relais De L’Entrecôte
Le Relais de L’Entrecôte began in 1959 when wine‑grower Paul Gineste de Saurs turned an Italian eatery in Paris into a steak‑only venue. The restaurant offers a single, unchanging menu of salad, sirloin steak and fries drenched in a secret sauce, and it does not take reservations. Despite the minimalist concept, the brand has thrived for 67 years and now operates more than 30 locations worldwide, from New York to Dubai. Its story illustrates how relentless focus on one product can fuel long‑term growth.
X+Y=?
Chenmark distinguishes between the number of operating companies (X) and total acquisitions (Y), noting that the gap reflects tuck‑in deals. The firm emphasizes long‑term value creation over rapid arbitrage, using a conservative underwriting model that still allows for upside. Cultural...
Should We Raise Capital?
Chenmark’s founders reflect on why they never took a $20 million external fund between 2015 and 2019, opting instead to bootstrap their hold‑co model. The lack of capital forced disciplined cash‑flow reinvestment, lean talent acquisition and a culture of shared risk....
The Benefits of Exhaustion
The article argues that purposeful exhaustion can enhance learning and creativity. It cites a desert survival course where participants retain fire‑making skills better after sleepless nights, and the Saturday Night Live writing routine that leverages late‑night fatigue to lower inhibition...