Ed Ludlow

I mean, you and I were reflecting off camera like what it's been like in San Francisco for the last few days.

Let's start with the conversation you had on stage.

What was it that you kind of wanted to get across and what was it that you heard in response?

You have a portfolio that has around 35 direct investments into all kinds of startups.

Just on the Anthropic piece real quick.

On stage, I was with Mike Krieger.

Anthropic, he leads the labs team now, but was CPO.

And Rebecca Torrance, our colleague, wrote that that's the talk of Humanex.

What Anthropic is doing, mythos came out.

What was your sort of interpretation of that?

Nico, you do things differently.

And I'm interested as to what your philosophy is.

You're someone who's bringing sort of the expertise and the European perspective here over into the West Coast.

But also you have a fund of funds.

You also have direct investing.

How are you thinking about building out your exposure to the private side right now?

I mean, Nico, you keep dropping in the odd little idea around Formula One and using that as some sort of descriptive factor.

What's also descriptive maybe is that like in Formula One, we have a lot of real leaders of the pack when it comes to VC.

You have companies like Klein Perkins or like Thrive or like A16Z with enormous new fundraisers.

And then you have everyone else who's worried about liquidity, worried about being able to get money into the LP's hands.