Dino Mavrookas

It's the stage of company and the amount of ownership that you're going to take. So venture capital are the investors that we have now. And typically they're minority investors and they're investing much earlier. So the risk profile is much different. So venture capitalists will look at companies and say, you know what? I'm going to take a bet.

It's the stage of company and the amount of ownership that you're going to take. So venture capital are the investors that we have now. And typically they're minority investors and they're investing much earlier. So the risk profile is much different. So venture capitalists will look at companies and say, you know what? I'm going to take a bet.

And their model is because the companies are so early, they don't have... track record of success. They don't have financials to go and review. They don't have 10 years of revenue that you can forecast off of. It's in some cases, I think when we started the company, we had a dozen slides and the founding team and that was it. Wow.

And their model is because the companies are so early, they don't have... track record of success. They don't have financials to go and review. They don't have 10 years of revenue that you can forecast off of. It's in some cases, I think when we started the company, we had a dozen slides and the founding team and that was it. Wow.

And their model is because the companies are so early, they don't have... track record of success. They don't have financials to go and review. They don't have 10 years of revenue that you can forecast off of. It's in some cases, I think when we started the company, we had a dozen slides and the founding team and that was it. Wow.

And so venture capitalists are taking those bets early on and their whole investment model is look, 90 ish percent of these companies aren't going to work.

And so venture capitalists are taking those bets early on and their whole investment model is look, 90 ish percent of these companies aren't going to work.

And so venture capitalists are taking those bets early on and their whole investment model is look, 90 ish percent of these companies aren't going to work.

those are going to go to zero so i'm going to go invest whatever it is let's say we have a billion dollar fund i'm going to invest 900 million dollars into companies that go to zero the other call it seven eight nine percent will give me my money back meaning they just do okay and then there's one percent of companies that will just completely crush it the

those are going to go to zero so i'm going to go invest whatever it is let's say we have a billion dollar fund i'm going to invest 900 million dollars into companies that go to zero the other call it seven eight nine percent will give me my money back meaning they just do okay and then there's one percent of companies that will just completely crush it the

those are going to go to zero so i'm going to go invest whatever it is let's say we have a billion dollar fund i'm going to invest 900 million dollars into companies that go to zero the other call it seven eight nine percent will give me my money back meaning they just do okay and then there's one percent of companies that will just completely crush it the

Facebooks and Googles of the world, hopefully the Saronics of the world. That's what the venture capitalists make all their money. So it's much riskier. And you're not looking to make money off of every single investment. Private equity is on the other end of the spectrum, where they're buying companies, and their whole model is to make a 3x return off of every single company. Okay.

Facebooks and Googles of the world, hopefully the Saronics of the world. That's what the venture capitalists make all their money. So it's much riskier. And you're not looking to make money off of every single investment. Private equity is on the other end of the spectrum, where they're buying companies, and their whole model is to make a 3x return off of every single company. Okay.

Facebooks and Googles of the world, hopefully the Saronics of the world. That's what the venture capitalists make all their money. So it's much riskier. And you're not looking to make money off of every single investment. Private equity is on the other end of the spectrum, where they're buying companies, and their whole model is to make a 3x return off of every single company. Okay.

So where do I have complete conviction? This company's 15 years old. It has a ton of revenue. I'm not really taking risk. I might take a risk where, okay, the company doesn't do as well as I thought it would do. I'd make two X or I'd get my money back. Or if it does really well, I make a four X. So you're, You're taking much less risk, but the variability in the outcome is also much different.

So where do I have complete conviction? This company's 15 years old. It has a ton of revenue. I'm not really taking risk. I might take a risk where, okay, the company doesn't do as well as I thought it would do. I'd make two X or I'd get my money back. Or if it does really well, I make a four X. So you're, You're taking much less risk, but the variability in the outcome is also much different.

So where do I have complete conviction? This company's 15 years old. It has a ton of revenue. I'm not really taking risk. I might take a risk where, okay, the company doesn't do as well as I thought it would do. I'd make two X or I'd get my money back. Or if it does really well, I make a four X. So you're, You're taking much less risk, but the variability in the outcome is also much different.

So you're investing at different stages and different risk profiles.

So you're investing at different stages and different risk profiles.

So you're investing at different stages and different risk profiles.