Hussein Kanji

That's also an easy one. So 10 years in, we grew apart. That's what happens. I think as we've gotten success, the nice thing about having success, and we made real money on fund one, even though it was a $28 million fund, we did really well for ourselves personally. You get to build the firm in the way that you want to build it.

And the big difference between Rob and myself is Rob wants to build a different type of firm. And we can think about how to make that work within the constructs of Hoxton, but it would be hard, right? You'd have to change the character of the firm. You'd almost be like a millennium where you have people like or PMs running their own book. Or you could say, go gracefully, go build it.

And the big difference between Rob and myself is Rob wants to build a different type of firm. And we can think about how to make that work within the constructs of Hoxton, but it would be hard, right? You'd have to change the character of the firm. You'd almost be like a millennium where you have people like or PMs running their own book. Or you could say, go gracefully, go build it.

And the big difference between Rob and myself is Rob wants to build a different type of firm. And we can think about how to make that work within the constructs of Hoxton, but it would be hard, right? You'd have to change the character of the firm. You'd almost be like a millennium where you have people like or PMs running their own book. Or you could say, go gracefully, go build it.

By the way, I'm LP and what Rob's fun and go do your own thing. I'll be the first check in the fund. You've got the full support. You have no restrictions on trade, et cetera, et cetera. Like you keep your track record, you keep the LP base. and go do it the way you want to do it. And that's basically what we ended up deciding. It took us a while to be able to do that.

By the way, I'm LP and what Rob's fun and go do your own thing. I'll be the first check in the fund. You've got the full support. You have no restrictions on trade, et cetera, et cetera. Like you keep your track record, you keep the LP base. and go do it the way you want to do it. And that's basically what we ended up deciding. It took us a while to be able to do that.

By the way, I'm LP and what Rob's fun and go do your own thing. I'll be the first check in the fund. You've got the full support. You have no restrictions on trade, et cetera, et cetera. Like you keep your track record, you keep the LP base. and go do it the way you want to do it. And that's basically what we ended up deciding. It took us a while to be able to do that.

But like we very much want to build the next generation, bigger, earlier stage firm. Like we want to be one of those dominant five to ten firms. I think Rob does not want to do that. And Rob very much wants to build a very science oriented, deep tech type firm. And it's just different.

But like we very much want to build the next generation, bigger, earlier stage firm. Like we want to be one of those dominant five to ten firms. I think Rob does not want to do that. And Rob very much wants to build a very science oriented, deep tech type firm. And it's just different.

But like we very much want to build the next generation, bigger, earlier stage firm. Like we want to be one of those dominant five to ten firms. I think Rob does not want to do that. And Rob very much wants to build a very science oriented, deep tech type firm. And it's just different.

I don't want to name a firm that's not good.

I don't want to name a firm that's not good.

I don't want to name a firm that's not good.

That you can actually make money across the spectrum in AI. Cusp was one of these. The foundational model. We would have been, we are not doing foundational model deals. They're too expensive, too capital intensive, never going to go in. Not a seed funds, not a small seed funds place to do that. And then Cusp walked in the door, which is this foundational model for material science.

That you can actually make money across the spectrum in AI. Cusp was one of these. The foundational model. We would have been, we are not doing foundational model deals. They're too expensive, too capital intensive, never going to go in. Not a seed funds, not a small seed funds place to do that. And then Cusp walked in the door, which is this foundational model for material science.

That you can actually make money across the spectrum in AI. Cusp was one of these. The foundational model. We would have been, we are not doing foundational model deals. They're too expensive, too capital intensive, never going to go in. Not a seed funds, not a small seed funds place to do that. And then Cusp walked in the door, which is this foundational model for material science.

We wrote down a double check, took our reserves and did one big investment, own 11%, decent size investment. And if it goes the distance and they raise $100 million or $200 million, like some of these, then it will be fine.

We wrote down a double check, took our reserves and did one big investment, own 11%, decent size investment. And if it goes the distance and they raise $100 million or $200 million, like some of these, then it will be fine.

We wrote down a double check, took our reserves and did one big investment, own 11%, decent size investment. And if it goes the distance and they raise $100 million or $200 million, like some of these, then it will be fine.

Play the long game, be contrarian, but you got to make sure that the market sees you as right within a very short amount of time. So you can't be contrarian for like 10 years plus. What's the biggest sin of the zero interest rate environment? So much money went into some of these things and people just relax diligence. Are we seeing that today? Do you think we'll see many more frauds?