Josh Kushner

To continue the real estate analogy, at the earliest stages, I always say to her, for the metropolitan folks listening to this podcast, we're going to Jersey City. 10 years ago, we're going to Astoria, we're going to Williamsburg, we're going to Bed-Stuy. Sometimes we'll get those neighborhoods right way before anyone else, and sometimes we won't.

To continue the real estate analogy, at the earliest stages, I always say to her, for the metropolitan folks listening to this podcast, we're going to Jersey City. 10 years ago, we're going to Astoria, we're going to Williamsburg, we're going to Bed-Stuy. Sometimes we'll get those neighborhoods right way before anyone else, and sometimes we won't.

But our ambition is to be in those neighborhoods way before anyone else has moved there and really dream of what they can be way before the rest of the market identifies them.

But our ambition is to be in those neighborhoods way before anyone else has moved there and really dream of what they can be way before the rest of the market identifies them.

It has less to do with revenue or valuation. It has more to do with how the end consumer or the end customer feels about the product. And we talked a little bit about our orientation around approaching our investments with a consumer lens. A lot of people at the firm have an incredibly creative side to them. In some respects, there's like an artistic orientation of a lot of people at the firm.

It has less to do with revenue or valuation. It has more to do with how the end consumer or the end customer feels about the product. And we talked a little bit about our orientation around approaching our investments with a consumer lens. A lot of people at the firm have an incredibly creative side to them. In some respects, there's like an artistic orientation of a lot of people at the firm.

I think as we think about what is a premier company, a lot of it has to do with the quality of the product in the eyes of those that are actually using that product. That is how we identify what Fifth Avenue is. Consumers or enterprises can change, but I think there's a level of love

I think as we think about what is a premier company, a lot of it has to do with the quality of the product in the eyes of those that are actually using that product. That is how we identify what Fifth Avenue is. Consumers or enterprises can change, but I think there's a level of love

four products that we've invested in where the switching costs are so high as a result of how the end customer thinks about them.

four products that we've invested in where the switching costs are so high as a result of how the end customer thinks about them.

You need to be so all in on the idea that you're willing to kind of bet the farm in some respects, no compromises. I think other mistakes I've made is every time that the firm has ever sized down a position based on our perception of risk, it's never led to an extraordinary outcome. And we try our best to identify these things. Stripe just raised a large round.

You need to be so all in on the idea that you're willing to kind of bet the farm in some respects, no compromises. I think other mistakes I've made is every time that the firm has ever sized down a position based on our perception of risk, it's never led to an extraordinary outcome. And we try our best to identify these things. Stripe just raised a large round.

We felt fortunate to be a part of it. We put a billion seven five between us and our partners into the company. I can't think of a better business model and a more extraordinary team for us to have the opportunity to invest in a very deep way.

We felt fortunate to be a part of it. We put a billion seven five between us and our partners into the company. I can't think of a better business model and a more extraordinary team for us to have the opportunity to invest in a very deep way.

So I think the best way to answer that question would be to talk about my experience at Goldman Sachs. So I started my career in the summer of 2008. I showed up at the office one Saturday night just to get ahead of the week and Many of those that I was reporting to were in the office. I asked them what they were working on.

So I think the best way to answer that question would be to talk about my experience at Goldman Sachs. So I started my career in the summer of 2008. I showed up at the office one Saturday night just to get ahead of the week and Many of those that I was reporting to were in the office. I asked them what they were working on.

They said that they were underwriting all of Lehman Brothers' real estate assets. I asked if they needed help. I was just a couple of weeks into the job, but did my best to support them in whatever way I could. This group that I was a part of ultimately decided that it made sense to pass on buying Lehman's assets. And the next day, Lehman announced that it was going under.

They said that they were underwriting all of Lehman Brothers' real estate assets. I asked if they needed help. I was just a couple of weeks into the job, but did my best to support them in whatever way I could. This group that I was a part of ultimately decided that it made sense to pass on buying Lehman's assets. And the next day, Lehman announced that it was going under.

And I had this true appreciation in that moment. I remember getting home Sunday night, knowing what was coming on Monday morning and feeling like the world was gonna change in a very dramatic way. And it did. And I remember a couple months later, I was in the office the day after Thanksgiving. I was working on something. I think I was the only person there.

And I had this true appreciation in that moment. I remember getting home Sunday night, knowing what was coming on Monday morning and feeling like the world was gonna change in a very dramatic way. And it did. And I remember a couple months later, I was in the office the day after Thanksgiving. I was working on something. I think I was the only person there.