Eric Vishria

I've never seen that happen. If you get a four, like partner's telling you they didn't really like it, but it's not, whatever. If you get a two, your partner's telling you they're really discouraging you from doing it.

I don't know. If your next question is what happens if you don't have the vote and you still want to do it, I have no idea. I don't know what happens.

I don't know. If your next question is what happens if you don't have the vote and you still want to do it, I have no idea. I don't know what happens.

I don't know. If your next question is what happens if you don't have the vote and you still want to do it, I have no idea. I don't know what happens.

I don't know that you have to get three out of five. Like I said, I don't know what happens. Benchmarking is a very high trust, like high confidence in each other model and structure, right? Is it always five people saying yes? No, I'm just saying nobody knows what the votes are except the sponsoring partner. And if a partner wants to do something, I think they can do it.

I don't know that you have to get three out of five. Like I said, I don't know what happens. Benchmarking is a very high trust, like high confidence in each other model and structure, right? Is it always five people saying yes? No, I'm just saying nobody knows what the votes are except the sponsoring partner. And if a partner wants to do something, I think they can do it.

I don't know that you have to get three out of five. Like I said, I don't know what happens. Benchmarking is a very high trust, like high confidence in each other model and structure, right? Is it always five people saying yes? No, I'm just saying nobody knows what the votes are except the sponsoring partner. And if a partner wants to do something, I think they can do it.

You're getting feedback from your partners who you trust and have confidence in.

You're getting feedback from your partners who you trust and have confidence in.

You're getting feedback from your partners who you trust and have confidence in.

I think it is actually useful to quantify things. You get all of this feedback, right? And anybody who votes a six on an investment does it apologetically. They have to be truly conflicting. There's nothing strategic. That's managing politics. That's not managing making the best investment decisions.

I think it is actually useful to quantify things. You get all of this feedback, right? And anybody who votes a six on an investment does it apologetically. They have to be truly conflicting. There's nothing strategic. That's managing politics. That's not managing making the best investment decisions.

I think it is actually useful to quantify things. You get all of this feedback, right? And anybody who votes a six on an investment does it apologetically. They have to be truly conflicting. There's nothing strategic. That's managing politics. That's not managing making the best investment decisions.

Well, I think the sponsor, your sponsoring partner, the kind of advocate probably needs to be that. But your other partners who are looking at it and trying to help you make a decision, I don't know that they have to be that way. They have less information necessarily. And so having their strength of conviction doesn't need to match yours.

Well, I think the sponsor, your sponsoring partner, the kind of advocate probably needs to be that. But your other partners who are looking at it and trying to help you make a decision, I don't know that they have to be that way. They have less information necessarily. And so having their strength of conviction doesn't need to match yours.

Well, I think the sponsor, your sponsoring partner, the kind of advocate probably needs to be that. But your other partners who are looking at it and trying to help you make a decision, I don't know that they have to be that way. They have less information necessarily. And so having their strength of conviction doesn't need to match yours.

Even great companies can be overvalued. One of the things that Bill is really good at is thinking about fundamentals, right? He came from public market investing way, way back when. At the beginning of his career, he has that mindset, that analytical mindset. And so he thinks through that and says like, hey, on a fundamentals basis, you will trade sometime at under 30 times free cashflow.

Even great companies can be overvalued. One of the things that Bill is really good at is thinking about fundamentals, right? He came from public market investing way, way back when. At the beginning of his career, he has that mindset, that analytical mindset. And so he thinks through that and says like, hey, on a fundamentals basis, you will trade sometime at under 30 times free cashflow.

Even great companies can be overvalued. One of the things that Bill is really good at is thinking about fundamentals, right? He came from public market investing way, way back when. At the beginning of his career, he has that mindset, that analytical mindset. And so he thinks through that and says like, hey, on a fundamentals basis, you will trade sometime at under 30 times free cashflow.

And so that's a thing. You and I were talking about what's the ARR number and the revenue and all this stuff. But ultimately, you talked about the four areas, which is sourcing, picking, winning, helping build. There's a really important fifth stage that nobody talks about and not every venture capitalist gets to, which is exiting.