Jason

Not particularly, not well, but I'm saying you do it.

So you could have carved out the time.

The rest of us actually have jobs.

That's the key word, watching.

You didn't say doing.

I got a distribution from you, by the way, recently.

Welcome to the club.

It was on $500 million.

My returns have been better when I've been by myself.

I think that there is something really valuable about working for other people, which it does keep you accountable.

I mean, what's happened is my dispersion has increased massively investing on my own, which means I cut the losers off far longer than I would have if I was running a fund because

I think what I signed up for when I was running a fund was never lose money, ever, and return the money as quickly as possible and then run the upside.

And so I would have traded a 7x with high vol for a guaranteed 3 and 3.5x because I think that was my responsibility as the GP because my LPs were Memorial Sloan Kettering, the Mayo Clinic.

I wanted to give them the money back because they have programs.

Right.

And it's not my job to hold the money back.

with myself, I can keep it out.

So then the ups are higher, but then the lows are also lower.

Yes.

Because some of these things just get annihilated.