Josh Kushner

And I remember calling my father to see how his day was going. And I said to him, dad, you think the world has changed forever and has lied to me, which stuck with me. And I think really has led to a lot of our thinking around investing is the world doesn't end very often. There are cycles and it's important to understand where you are in the cycle.

And I remember calling my father to see how his day was going. And I said to him, dad, you think the world has changed forever and has lied to me, which stuck with me. And I think really has led to a lot of our thinking around investing is the world doesn't end very often. There are cycles and it's important to understand where you are in the cycle.

I think the things to appreciate though in this moment, you want to run to something when everyone else is running away. I think we have definitely tried our best to do that in this moment. as the market is facing the volatility that it's facing, we kind of try our best to take a step back and say, do we believe in the fundamentals of the space that we're working in?

I think the things to appreciate though in this moment, you want to run to something when everyone else is running away. I think we have definitely tried our best to do that in this moment. as the market is facing the volatility that it's facing, we kind of try our best to take a step back and say, do we believe in the fundamentals of the space that we're working in?

Do we believe that the long-term trends associated with technology innovation are going to move in a very particular direction? Do we believe in this group of exceptional founders that we've had the opportunity to partner with? Do we believe in their products and their positioning? If so, lean in when others are leaning away.

Do we believe that the long-term trends associated with technology innovation are going to move in a very particular direction? Do we believe in this group of exceptional founders that we've had the opportunity to partner with? Do we believe in their products and their positioning? If so, lean in when others are leaning away.

And it's scary to run into a burning building when everyone else is running away. I think those that I respect the most have benefited tremendously in their careers when they've done the exact same thing.

And it's scary to run into a burning building when everyone else is running away. I think those that I respect the most have benefited tremendously in their careers when they've done the exact same thing.

I thought it was brilliant. Daniel, someone that I respect a ton, actually invested in his first company out of YC. And Nat took over GitHub after it was sold to Microsoft. All of these AI companies just need compute. They said, here you go. Their orientation is, hey, we can give you money or we can just give you compute. And naturally, that's going to lead to them investing in these companies.

I thought it was brilliant. Daniel, someone that I respect a ton, actually invested in his first company out of YC. And Nat took over GitHub after it was sold to Microsoft. All of these AI companies just need compute. They said, here you go. Their orientation is, hey, we can give you money or we can just give you compute. And naturally, that's going to lead to them investing in these companies.

But it's just brilliant. Constantly thinking about why are things done a certain way? Going back to our conversation around the ways in which the industry has existed, I think there are some beautiful aspects to the ways in which the industry has existed.

But it's just brilliant. Constantly thinking about why are things done a certain way? Going back to our conversation around the ways in which the industry has existed, I think there are some beautiful aspects to the ways in which the industry has existed.

But my hope is that as a firm, we're constantly questioning those things and pushing the boundaries no differently than our companies with the main goal of being how do we actually serve our customer and our customer is our founders. If we're constantly pushing the boundaries around ways in which we can do that, then I'll be happy that we're questioning the rules.

But my hope is that as a firm, we're constantly questioning those things and pushing the boundaries no differently than our companies with the main goal of being how do we actually serve our customer and our customer is our founders. If we're constantly pushing the boundaries around ways in which we can do that, then I'll be happy that we're questioning the rules.

Sure. So Thrive sold in January a 3% stake to a group of five individuals. Bob Iger, who's the CEO of Disney. Mukesh Ambani is the founder of Reliance. Xavier Niel, who's prolific French entrepreneur and investor. George Apollo Lemon, who started 3G and has run and operated many extraordinary businesses. And then Henry Kavras, who founded and scaled KKR.

Sure. So Thrive sold in January a 3% stake to a group of five individuals. Bob Iger, who's the CEO of Disney. Mukesh Ambani is the founder of Reliance. Xavier Niel, who's prolific French entrepreneur and investor. George Apollo Lemon, who started 3G and has run and operated many extraordinary businesses. And then Henry Kavras, who founded and scaled KKR.

The reason for the transaction was very much us as a group thinking in first principles around the reality that our best companies have cap tables. And they have cap tables with extraordinary investors, but also they have boards.

The reason for the transaction was very much us as a group thinking in first principles around the reality that our best companies have cap tables. And they have cap tables with extraordinary investors, but also they have boards.

As the firm has scaled, the idea of actually having people who have built meaningful businesses and have operated meaningful businesses is something that we were very excited to have as a part of our organization.

As the firm has scaled, the idea of actually having people who have built meaningful businesses and have operated meaningful businesses is something that we were very excited to have as a part of our organization.