Lessons learned

One thing I loved about this class is that we didn't just learn about wine, we also learned lessons that are broadly applicable to business and life. Here's a wrap-up of ten of the most important things (both non-wine and wine) I intend to remember:

• We're underpaid early in our careers (and overpaid late in our careers), so now is the time to take risks and gamble for a big payoff
• Your family and non-work life are a valid, important part of career decisions (side note: I loved that several of our cases included these details when framing the problem)
• Investors might care about financial returns less if we could send them great bottles of wine with their dividends!
• When you get your first term sheet, call the Topol brothers for help
• Most wineries don't turn an economic profit -- and profit motives may well push wineries to lower rather than raise quality
• That $6 glass of wine you got in a restaurant came from a ~$6 bottle. If you want slightly less absurd margins, you should buy by the bottle
• For value for money, buy the retailer house label brands
• Red Burgundy is Pinot noir; white Burgundy is Chardonnay
• The Bordeaux varietals are Cabernet Sauvignon, Merlot, Cabernet Franc, Malbec, and Petit Verdot (bonus: Carménère)
• It's up to us (millennials) to drink the wine industry back to growth

Thanks for a great quarter! I've really enjoyed talking strategy and drinking wine with all of you!