Bill Gurley

Right.

And this one father who saw the original speech sent me this email.

I almost started crying.

And he told me a whole story about his child had been going in this direction and really wanted to go another one.

And he talked about the kind of stages of himself getting comfortable with it.

But he said when he finally flipped and was supportive, he saw the child's confidence rise.

Mm-hmm.

You know, that's just got to be such a wonderful feeling, you know?

Thanks for reading.

I think, oddly, in retrospect, it was fortunate that... So I started my venture career in 97, and things were on fire by 99.

But by 2000, they were falling apart.

And...

That's not enough time for me to have been successful because from investment to liquidity back then was five to seven years.

It's even longer now.

And so there wasn't a window enough.

But it also meant it wasn't a long enough window for anyone to judge whether I was good at it or not.

And when the bubble burst, everything slowed down.

When you're in a bubbly time, and we may be right now with AI, people do silly things.

They spend money in ways they shouldn't.

They run TV ads and Super Bowl ads and all these things, things that don't usually work.