Bill Gurley

Slack is an example.

It was a game company and the game failed, but they had built this tool to develop the game.

I didn't know about that.

Discord, who's one of our companies, was also a game company that failed and launched this Skype alternative for communicating during games that became wildly successful.

And for any venture capitalist that's been through one of those pivots, they're famously known as pivots now, it's all about the person.

Like, it's all about the founder.

Like, there's also a data point that most venture capitalists will quote, and I'm sure it's not scientific, but a new CEO hires a 50-50 bet at best.

So why –

if you're doing positive like trying to run mpvs would you even take the risk of hiring a ceo because you're gonna there's a 50 50 chance you'd just get a bad apple in which case it's all toast so yeah there's and and that lore goes beyond me i mean i think the the founder um

mythology, if you will, is quite high in Silicon Valley for all those reasons.

Now there are times where you have no other option and there are, there's way more stories.

This is kind of an odd fact, but companies that serve businesses

have a much higher success rate of replacing the founder than companies that serve consumers.

Why do you think that is?

My best guess is consumers are more fickle and that product thing is just more artistic.

Sounds like a taste again.

Yes, more like a movie than business.

And business products are more systematic.

Yeah.

And you can algorithm that down to Steve jobs.