Albert Wenger

I had to buy my time.

And then he teamed up with Fred in 2003 to raise USV, the first fund, which got going in 2004.

And so I was right there at the company formation for Delicious, and then Delicious was acquired nine months after formation by Yahoo.

I honestly have actually completely forgotten the fundraising history, but that sounds about right.

Um, I, I, I don't, um, but I think, um, I, I, I may have the timeline wrong, but I don't, I think delicious definitely, I think precedes Reddit.

So, yeah.

Um, well, there were a number of people involved in the negotiations on the other side, so I'm not sure.

Okay.

Um, so Jeff was involved in the negotiations, but only, um, so delicious rolled up into Jeff, but the negotiations were led by other people.

You really want to think about what it is you're trying to accomplish.

I think that's a good starting point.

And I think I would also say a lot has changed since then.

So one of the things that has really changed dramatically since that time is that founder secondaries have become completely customary.

And so I think that there are many alternative paths in which Delicious would have raised another round and where secondary would have been a really interesting alternative to

to doing an M&A transaction so early in the life of a company.

Yes, I think that's spot on.

Well, so I made myself sufficiently unpopular during the negotiations that I didn't have to go along.

That wasn't a grand plan, but it worked out very well.

So I started hanging out in the USB offices and I started making some angel investments.

One of those was Etsy and one of those was Tumblr.