Justin Ishbia

So for me, everything's about the industry.

Industry becomes the core of it.

And then that partner, a short cap, or a president, a vice president, or principal, they own it.

And their job is to know it.

And they oftentimes may invest in that sector two, three, four platforms of their career or more.

My partner, Ryan, who leads urgent care for us, he's done three platforms of urgent care sector.

And what's surprising, he does more.

My partner, Chris, has done, I assume, three dental deals.

And so if your job is to know the sector really well,

Over time, it may change.

It may change if you want to invest in it again, but you almost become a strategic acquirer after a period of time because you know the industry so well.

I tell oftentimes our executives, our board members, they've forgotten more about the industry than we'll ever know.

But for finance guys, our job is to be most educated on domain expertise, impress you to want to join our team because we're prepared.

We want to invest.

And then for the sellers, I'm telling the sellers,

When you choose to sell to somebody or partner with somebody, there's two parts to the deal.

There's the macro and the micro.

The macro is, do you believe in this sector, urgent care?

Micro is, do you believe in my company?

I want to take one of those two off the table.