Jeff Horing

A big portion of my day is going to be dedicated to prospects.

And I make a point, as do most of my senior partners, to be spending as much time as possible hearing the stories, whether it's in person or by Zoom, of new companies.

Then there'll be a fair amount of portfolio calls.

So I probably had three calls so far today on portfolio companies, hopefully more strategic in nature than just what's your latest quarter.

And then some internal meetings on how we're scaling the firm and using AI to do diligence and all sorts of fun things like that.

So it's a blend of where I think I can contribute what I try to do.

No one's perfect.

I spend as little time as possible on things I'm not good at, of which there's a pretty long list.

So those are areas where I think I can have a meaningful impact and also enjoy it.

So it's a lot of fun for me to do that.

I'll say team broadly because some of us are much better at this than I am, but our analysis of what numbers matter has changed a lot.

I remember six years ago at an LP meeting telling LPs, we think we're at 11th grade math on software.

The industry is probably at seventh grade math on software.

I think we're getting closer to college.

It's still amazing what we continue to learn about metrics that really are the best predictors for future outcomes, which is really the dream, especially in growth investing.

You have almost enough data to start to predict.

And we've also gotten better, I think, at understanding qualitative TAM issues and the never-ending journey on management.

Every year you learn something new in both the good and bad ways.

People are always complicated, but you definitely get better at it as you get older.

Five years ago, one of my companies was going public, and the rage on Wall Street was net retention, just picking a random one.