Ben Horowitz

And by the way, like the AI, like the agentic travel experience turns out to be much more complicated than one would think.

And I don't know if it stays that way, but that's the way it is today.

So I think it's very company dependent.

Like, I don't think it's all one thing, but I do think.

brave new world.

And if you keep looking at it like the old world, and it's got completely different laws of physics, you are definitely going to die.

There's a lot of cope going on now, too.

So like, you got to be careful with that.

Yeah.

Yeah, so it's really different.

So our first fund was $300 million and we raised it from all the traditional kind of LPs, endowments, you know, charitable foundations, et cetera, fund of funds.

We just raised $15 billion, four of the seven funds, four of the seven funds.

So like not even the whole complex.

And, you know, we raised it from very, very different kinds of investors.

So we...

Basically, none of our LP base was international when we started, and we're at like 35% international money, and it's from all kinds of places.

And just tech has gotten so much more important.

I think that we have to think in terms of...

the world in a way that we just didn't before.

So, for example, like with, you know, why did you raise so much money?