Bill Gurley

Coding is a tighter form of language, so it's even better at coding.

And there are areas where that matters.

A lot of this is played out.

It matters in legal.

That matters in customer support.

But there's probably other pockets that have yet to be fully explored.

But that fit is super interesting to me.

My gut is that we have a problem.

I've always been more of an analyst than an optimist, even though I was successful in venture.

So I had to be somewhat of an optimist.

But I started as a security analyst.

I'm born with more of a critical thinking hat.

So my bias would be that way.

And someone could certainly take the other side and say, oh, Gurley's always predicting the next downturn or whatever.

Yeah.

But my gut is we have a problem.

The system as it exists today promotes less liquidity, less traditional high quality company building and way higher burn rates.

That's just not a great combination from my perspective.

And it's all self-reinforcing.

So all of the components that I listed are