Codie Sanchez

It's funny because we have a venture capital fund.

And somebody reached out to me the other day because one of our companies, it's a great company, sold.

And we got in early, so it's cool.

It's like a 4X for us.

But we put a lot of our own capital in and we keep our fund small.

So when we get multiple, like I think we've had less than 10% default rate and we've had a couple hundred Xs, but we've had a lot of four to five to seven Xs.

And one of the other venture capitalists called me and was like, I thought this guy was going to run this forever.

I can't believe he's bailing on this.

And I was like, this is life-changing money for him.

This is like $20 million in his pocket.

Plus he gets to go work at this strategic company and get equity in that company.

We get a little bit to ride along.

I go, this is a good outcome for him.

You know, I think it's all about incentives, right?

Like I have enough of my own money in there and operate a company.

I know how fucking hard this is.

You know, a lot of these investors are salaried investors.

They got no skin in the game and they've never actually run anything.

Yeah.

You know, I always thought like one of the better ones was like the Sequoia model where like, you know, and I don't know everything behind the scenes and everybody's got skeletons, but I always liked that they were like 90% of our companies have been acquired, sold, or IPO'd.