David Frankel

And then it's the exact same strategy, exact same thinking is we'll dilute alongside the founder. By the way, I can't afford in my fund If I've done my job right and you are, you know, raising your next set of capital at 3x or 4x, I just can't afford to actually maintain my percentage ownership.

In a career, I've been through one bankruptcy, one bankruptcy. So in hundreds of investments, I've had one bankruptcy. And Micah Rosenblum, my partner's father, Lou Rosenblum, was one of the best bank, he's out of Chicago, one of the best bankruptcy lawyers. And I remember thinking, oh my God, I do not know what has hit me here. This is like a freight train.

In a career, I've been through one bankruptcy, one bankruptcy. So in hundreds of investments, I've had one bankruptcy. And Micah Rosenblum, my partner's father, Lou Rosenblum, was one of the best bank, he's out of Chicago, one of the best bankruptcy lawyers. And I remember thinking, oh my God, I do not know what has hit me here. This is like a freight train.

In a career, I've been through one bankruptcy, one bankruptcy. So in hundreds of investments, I've had one bankruptcy. And Micah Rosenblum, my partner's father, Lou Rosenblum, was one of the best bank, he's out of Chicago, one of the best bankruptcy lawyers. And I remember thinking, oh my God, I do not know what has hit me here. This is like a freight train.

There was an enormous fraud in the company. The CFO committed suicide. The CEO is still in jail. I mean, like huge story, right? Like they were literally fraudulently putting KPMG on fraudulent financials. I remember that moment when Micah said to me, Lou's going to take you under his wing. I'd been paid out a couple of million dollars.

There was an enormous fraud in the company. The CFO committed suicide. The CEO is still in jail. I mean, like huge story, right? Like they were literally fraudulently putting KPMG on fraudulent financials. I remember that moment when Micah said to me, Lou's going to take you under his wing. I'd been paid out a couple of million dollars.

There was an enormous fraud in the company. The CFO committed suicide. The CEO is still in jail. I mean, like huge story, right? Like they were literally fraudulently putting KPMG on fraudulent financials. I remember that moment when Micah said to me, Lou's going to take you under his wing. I'd been paid out a couple of million dollars.

The first thing Lou said to me is, you're going to give back every last cent. You're going to be the first person who gives back all the money and all the other investors are going to hate you for it. But that's the first thing you're going to do. So I had taken secondary. It was four XR investment on the secondary, gave every cent back. But here's the thing.

The first thing Lou said to me is, you're going to give back every last cent. You're going to be the first person who gives back all the money and all the other investors are going to hate you for it. But that's the first thing you're going to do. So I had taken secondary. It was four XR investment on the secondary, gave every cent back. But here's the thing.

The first thing Lou said to me is, you're going to give back every last cent. You're going to be the first person who gives back all the money and all the other investors are going to hate you for it. But that's the first thing you're going to do. So I had taken secondary. It was four XR investment on the secondary, gave every cent back. But here's the thing.

The degree to which I felt taken care of by this guy who was an expert, I think sometimes... And I think he felt great that here was this helpless capitalist hit by a freight train in terms of this bankruptcy. If we can do that once in a while, the joy of that, right? Sometimes... This is about financial returns, and it sounds like completely ridiculous to say it's not.

The degree to which I felt taken care of by this guy who was an expert, I think sometimes... And I think he felt great that here was this helpless capitalist hit by a freight train in terms of this bankruptcy. If we can do that once in a while, the joy of that, right? Sometimes... This is about financial returns, and it sounds like completely ridiculous to say it's not.

The degree to which I felt taken care of by this guy who was an expert, I think sometimes... And I think he felt great that here was this helpless capitalist hit by a freight train in terms of this bankruptcy. If we can do that once in a while, the joy of that, right? Sometimes... This is about financial returns, and it sounds like completely ridiculous to say it's not.

But sometimes the gift of that, right, and the chemistry that that unlocks, you know, we'll do every company together after that.

But sometimes the gift of that, right, and the chemistry that that unlocks, you know, we'll do every company together after that.

But sometimes the gift of that, right, and the chemistry that that unlocks, you know, we'll do every company together after that.

I think they could come out. Harry, I think the era gave rise to that, unfortunately.

I think they could come out. Harry, I think the era gave rise to that, unfortunately.

I think they could come out. Harry, I think the era gave rise to that, unfortunately.

I was thinking about this. I actually just wrote down matchmaker here. Like the small fund versus the big fund. And the concept of like the big fund, the lifetime investor fund really has no incentive to matchmake for you. They have this incentive.