David Weisburd

The returns go from actually being picked in this kind of post-seed.

That's an interesting question.

I would love to have a chat with them.

The most common from elite seed investor mistake that they make is that very mistake, which is I was bullish on the person, thought the idea was bad, didn't realize he would have iterated one, sometimes two times into success.

That's the number one.

It's not actually picking wrong.

It's not picking the wrong company.

It's the person was right.

The business was wrong.

I should have invested anyways, knowing that was wrong.

And because the power laws are so great, because a great person can return 100x, if only 20% of times they end up iterating, it's still like a great investment, which is also a hard thing to put your head around.

There's so many unknowns in the market.

What is one thing that is knowable in the market today that you believe with high conviction?

It's an order of magnitude better.

On that note, Narayan, it's been an absolute masterclass.

Thanks so much for jumping on the podcast and looking forward to continuing the conversation live.

If you're a GP with over $1 billion in AUM and thinking about long-term strategic partners to support your growth, we'd love to connect.

Please email me at david at weisbergcapital.com.

So you launched Korbel in 2014 after years at Aries.

What was the aha moment that convinced you to strike out on your own?