Ivan

So we do the 50 at 2 billion. And then how much did we raise at 10 billion? We raised around 270 million at 10 billion. Around 270 million to not be precise. Talk to me about the thinking there. What were we unlocking with that fundraise?

And in this particular case, there were... Do you or can you just watch others burn money in go-go times and stay disciplined?

And in this particular case, there were... Do you or can you just watch others burn money in go-go times and stay disciplined?

And in this particular case, there were... Do you or can you just watch others burn money in go-go times and stay disciplined?

And so we go aggressive for this year and then harder times come when we pull back?

And so we go aggressive for this year and then harder times come when we pull back?

And so we go aggressive for this year and then harder times come when we pull back?

Just thought exercise here. Is that not when you get more aggressive? Your competitors, they don't have actually the cash supplies that you do in a lot of respects. You could have gone aggressive then when they pulled back. Did you think about that?

Just thought exercise here. Is that not when you get more aggressive? Your competitors, they don't have actually the cash supplies that you do in a lot of respects. You could have gone aggressive then when they pulled back. Did you think about that?

Just thought exercise here. Is that not when you get more aggressive? Your competitors, they don't have actually the cash supplies that you do in a lot of respects. You could have gone aggressive then when they pulled back. Did you think about that?

On the 10 billion, it's a big, big valuation. How did you think about that? And how do you think about growing into that over time?

On the 10 billion, it's a big, big valuation. How did you think about that? And how do you think about growing into that over time?

On the 10 billion, it's a big, big valuation. How did you think about that? And how do you think about growing into that over time?

the different categories that we play in has like i think we've barely scratched the surface on it and so there's you know we're pretty excited to sort of like keep building towards that vision one of the things evaluation even matter if you're cash flow positive if you're being blunt valuation matters a lot if you're not cash flow positive because there's crunch time in 18 months when you're going back to the vc and your judgment day comes on your valuation if you don't need to go back to the vc

the different categories that we play in has like i think we've barely scratched the surface on it and so there's you know we're pretty excited to sort of like keep building towards that vision one of the things evaluation even matter if you're cash flow positive if you're being blunt valuation matters a lot if you're not cash flow positive because there's crunch time in 18 months when you're going back to the vc and your judgment day comes on your valuation if you don't need to go back to the vc

the different categories that we play in has like i think we've barely scratched the surface on it and so there's you know we're pretty excited to sort of like keep building towards that vision one of the things evaluation even matter if you're cash flow positive if you're being blunt valuation matters a lot if you're not cash flow positive because there's crunch time in 18 months when you're going back to the vc and your judgment day comes on your valuation if you don't need to go back to the vc

Is that a challenge with leaders today? You bring them in at a 10 billion price. It's high. Like seeing like, you know, 10x on that is hard.

Is that a challenge with leaders today? You bring them in at a 10 billion price. It's high. Like seeing like, you know, 10x on that is hard.

Is that a challenge with leaders today? You bring them in at a 10 billion price. It's high. Like seeing like, you know, 10x on that is hard.

When you look back at your fundraising, what would you have done differently? I wouldn't do anything different. How did Sequoia come together?