David Weisburd

So I think it's a very interesting asset class for outside investors.

i think what needs to happen one of the things that really creates this liquidity on the buyout side is that you have now that this whole system of investment banks are coming in and doing these uh raising these funds for them i think that needs to happen and i think cvs and venture capital have to get to about 100 million to make that plausible scott voss from harbor vest they're already doing that so i didn't i didn't come up with the idea but that's one of my theories that i think we're going to see much more of that in the coming couple years

I think Uber was one of the first E rounds.

Right.

The reason the original stock listing was four years, Eric Bond from Hustle Fund told me this, is that it used to take four years to go from first venture funding to IPO.

That's why it was a four-year.

That's so much so that now it doesn't really make sense.

If you're four years into an eight-year journey and you have people that are working there, now you have to refresh these stock plans.

But that's why it was four years originally.

That's how far we've gone.

We've gone from four to sometimes 15 to 20 years.

That's a really interesting point because on the continuation vehicles, you're not getting two and a half and 30.

There's much more aligned structure.

There's, there's ways to get up to 20% carry, but pass certain hurdles.

So in that way, it is much more LP friendly.

I'm going to ask you to pick your favorite child, not literally, but figuratively within assets.

What is the most underloved asset class or sub asset class that you think should get more love and why?

Doug, if you could go back to 1993, you had just finished your master's program.

And you could go back and tell yourself one timeless piece of advice.

Double click on that.