Ilana

And this is around what, 2016, 17?

And this is around what, 2016, 17?

Wow.

Wow.

So you're starting NFX. I mean, starting a VC fund is even harder than, I think, a startup to raise the capital.

So you're starting NFX. I mean, starting a VC fund is even harder than, I think, a startup to raise the capital.

A lot of businesses.

A lot of businesses.

That's incredible. But let me ask you something, and I'm curious what you're going to say. I mean, clearly, NFX has done really well, and you have some really amazing companies under your belt. But one of the things that I'm curious about, being an operator or even a CEO of a company is very different than gauging if something will be good for investment.

That's incredible. But let me ask you something, and I'm curious what you're going to say. I mean, clearly, NFX has done really well, and you have some really amazing companies under your belt. But one of the things that I'm curious about, being an operator or even a CEO of a company is very different than gauging if something will be good for investment.

And I almost feel like sometimes it's almost opposite because we tend to be very optimistic. At least I am. So I suck at investment. Like I just invest with others because I'm too optimistic and I love the founders and I just want to say yes to everybody. So James, how do you bridge that gap and learn to be a really good, solid investors?

And I almost feel like sometimes it's almost opposite because we tend to be very optimistic. At least I am. So I suck at investment. Like I just invest with others because I'm too optimistic and I love the founders and I just want to say yes to everybody. So James, how do you bridge that gap and learn to be a really good, solid investors?

There's not much data.

There's not much data.

Thank you for sharing that because I think that's the piece that is always interesting for me to see. But then when there's ups and downs for founders, I feel like one of the big things that investors are looking at is, yes, you want the big thing, but you also want to know that the first time there's a dip and that near-death experience, they're not just going to give up. Is there a way to ask?

Thank you for sharing that because I think that's the piece that is always interesting for me to see. But then when there's ups and downs for founders, I feel like one of the big things that investors are looking at is, yes, you want the big thing, but you also want to know that the first time there's a dip and that near-death experience, they're not just going to give up. Is there a way to ask?

Is there a way to see if they're going to just give up?

Is there a way to see if they're going to just give up?

I definitely heard some of the criteria that is important for you guys and effects. I would love for my listeners to also hear. I know speed and ambition are really big ones, but I would love the listeners to hear a little bit. What do you think makes a really good founder? And if somebody is like debating, should I be an entrepreneur? Should I not be? What would you tell them?

I definitely heard some of the criteria that is important for you guys and effects. I would love for my listeners to also hear. I know speed and ambition are really big ones, but I would love the listeners to hear a little bit. What do you think makes a really good founder? And if somebody is like debating, should I be an entrepreneur? Should I not be? What would you tell them?