David George

And then the other side is like the Gucci store, the Prada store, which is like deep specialization.

So Nat and Daniel would have been,

an example of the Elad.

And then there's many others that do a really good job at what they do.

So I have respect for a lot of the crossover folks who are in our world and have built private businesses and have done a good job with it.

So what do you do to beat these people?

I think you would love to have some story that's like sensational in the moment where we did something crazy.

The reality of the growth stage business is we win deals based on years of relationship building.

We recently did a deal where the founder, we had worked the founder so hard that he called us and he was like, hey, I'm ready to do this.

I'll just talk to you.

And I'm like, oh, wow.

OK, fruits of my labor.

Two years of this.

This is good.

And then at that point, it's one of the best companies in the market.

And the dynamic that we are faced with is, OK, this is awesome.

I got a clean look.

I know for sure if he was going to market, he would get a higher price than what he just told me.

But can I bear the price?

So that's often the exercise that we have to go through as growth investors is what do we know differently about the product or the market or what are our expectations that will allow us to do it that maybe aren't as obvious?