Alan Waxman

And what are our next 15 to 25 themes?

One of the themes there was best business models most impacted by COVID.

Airbnb, great business model.

If you remember at the time, there was a lot of negative press on Brian Chesky at the time, which was, by the way, unfair and unwarranted.

But there's a whole bunch of stuff

going on at the board that didn't deter us.

So we literally started calling into the board, people we knew on the board, calling in the bankers, because we didn't have a preexisting relationship with Brian, but we knew people that were around him and ultimately came in.

And that was an interesting time because the thing that Brian did that was really smart, he did a lot of things that were smart, the way he operated through that.

And the first time we met him on a

He had a lot of advisors, and despite all that, his values, the mission, the principles were all the same.

We talk about a lot of special humans today, Daniel and Brian, David Veneer, special humans, but they wanted to fortify their balance sheet so they could play offense.

We and our friends over at Silver Lake basically gave him a billion dollars, was in a loan form, had some warrants attached to it.

Ended up getting them through the period.

Obviously, things started to get better.

But the most important thing after that happened, they were able to start playing offense versus playing defense.

And I think the other thing it did is it really solidified what we already knew that Brian was such a great leader and he was able to get this done.

That one was, first of all, we had to be right on the business model.

So from afar, we wanted to make sure that the business model, what it was.

The second thing is they wanted to get it done

in seven days.