Justin Ishbia

Each company has its own list internally of people we think are best in class and we'll use them again in the future.

So how I think about it is talent wins.

But that talent in the system, I think the system wins.

But the whole is enough talent at the velocity that we're building businesses.

I think stacking unfair advantages is part of everything I think about.

How do we have unfair advantages?

So I view a market cap, all of our funds in healthcare, food and beverage, business services, industrials, that's its own product.

But real estate is a different product.

And next year, a different product, healthcare advantage fund.

I tell our LPs, I tell our team members at Shore Capital, I will only add a new product if two things are true.

Number one,

We have an unfair advantage, meaning that odds are tilted of success in our favor because of the dynamics.

It helps, number two, is help my base business.

So real estate.

So we have a real estate fund.

We were acquiring so many veterinary businesses.

No, I think several hundred businesses.

that we kept doing all these sales specs and it was slowing down the deals.

It was causing problems for us.

And so we felt like there's an unfair advantage by, I know the CEOs of my veterinary companies quite well.