David Weisburd

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Ryan, you're a co-founder and a partner at Franklin Park.

Tell me where Franklin Park sits at an AUA basis today.

And you said last time we chatted, you said it's the most confusing, untethered sentiment today investing in nature that you've seen.

That's quite the statement given that you've been in the industry for a while.

Why did you say that?

Adding to this complexity, there's companies like MidJourney.

Some report they're at 500 million, half a billion ARR with no outside capital raised.

So they've scaled without outside capital.

So VCs aren't even getting to those opportunities.

Then there's people, I had the founder of HF0, which is a 12-week AI accelerator in San Francisco.

It's one of the most interesting podcasts I've ever had.

And they put people in these monk mode modes for 12 weeks.

And these companies go from 500,000 to 10 million ARR just in just focused work and development for 12 weeks.

They take away all the distractions from their lives.

And now they've actually evolved.

They used to give a million dollars for a 20 million, take 5%.

Now they've evolved.

Some people don't even want the million dollars.