Jeff Horing

Capital's tougher though.

So you just need to think about those four disciplines and say, well, how am I going to be way better?

Some guys do it by appearing on podcasts and getting their thought out and their vision and excite the founding community of how smart they are about an industry.

That's a perfectly legit way to get deals.

Others have cultivated networks in different ways and winning could be, I'm just going to get on the plane and do it.

An individual partner that

works my tail off and it's not very leverageable, but it's certainly a good strategy.

How do you institutionalize, systematize that and operationalize it is not easy.

We found also scale was a real opportunity.

And I heard Mark Hendrickson talk about this too.

Every industry but ours was considered to be better

as they got bigger.

For some reason, this type of investing, tech investing was like, no, we want you to be a cottage industry.

We're smartest partners, do all the work.

I remember very distinctly sitting down with one of my partners in 2015.

I'm like, why do LPs have this allergic reaction to the word scale?

Because again, everywhere else, it seems good.

I looked at those four

buckets of what we do.

I'm like, clearly sourcing is better with scale.