Mark Goldberg

Those are the names that are household names that if you stopped a founder on the streets of Austin or Portland, those are what you're going to hear about. To me, it's less about the age and more about kind of the proximity to your kind of networks.

Well, first off, that's really interesting for somebody who is leading one of the multi-stage, the most successful multi-stage funds. And God bless Sequoia. I mean, their ability to innovate as a leader. I don't envy that challenge. I have always enjoyed being a challenger and punching in that direction. So for him to say that is very interesting.

Well, first off, that's really interesting for somebody who is leading one of the multi-stage, the most successful multi-stage funds. And God bless Sequoia. I mean, their ability to innovate as a leader. I don't envy that challenge. I have always enjoyed being a challenger and punching in that direction. So for him to say that is very interesting.

Well, first off, that's really interesting for somebody who is leading one of the multi-stage, the most successful multi-stage funds. And God bless Sequoia. I mean, their ability to innovate as a leader. I don't envy that challenge. I have always enjoyed being a challenger and punching in that direction. So for him to say that is very interesting.

So what I would say is I think the direction of the industry, and I'm sure everybody who observes the industry would say the same thing, has been one of industrialization in the last decade. And when I say industrialization, what I mean is the boutique experience of, hey, there's going to be a handful of partners. You're going to know everybody there and their reputations.

So what I would say is I think the direction of the industry, and I'm sure everybody who observes the industry would say the same thing, has been one of industrialization in the last decade. And when I say industrialization, what I mean is the boutique experience of, hey, there's going to be a handful of partners. You're going to know everybody there and their reputations.

So what I would say is I think the direction of the industry, and I'm sure everybody who observes the industry would say the same thing, has been one of industrialization in the last decade. And when I say industrialization, what I mean is the boutique experience of, hey, there's going to be a handful of partners. You're going to know everybody there and their reputations.

That was kind of the past. And the future seems to be this sense of, you know, let's increase the AUM. Let's increase the team sizes. And I would challenge even you, Harry, to say at some of these big platforms, name more than three, four or five partners when there might be 30 check writers.

That was kind of the past. And the future seems to be this sense of, you know, let's increase the AUM. Let's increase the team sizes. And I would challenge even you, Harry, to say at some of these big platforms, name more than three, four or five partners when there might be 30 check writers.

That was kind of the past. And the future seems to be this sense of, you know, let's increase the AUM. Let's increase the team sizes. And I would challenge even you, Harry, to say at some of these big platforms, name more than three, four or five partners when there might be 30 check writers.

So that's what industrialization means to me is when you know the name, the brand of the institution, but you might not know who the check writers are.

So that's what industrialization means to me is when you know the name, the brand of the institution, but you might not know who the check writers are.

So that's what industrialization means to me is when you know the name, the brand of the institution, but you might not know who the check writers are.

That's exactly right. It's a contrarian thought right now. Inspired by funds like Benchmark, like USV, we think that there is this kind of personal relationship at the early stage that we're going to try to reconstitute the fund around.

That's exactly right. It's a contrarian thought right now. Inspired by funds like Benchmark, like USV, we think that there is this kind of personal relationship at the early stage that we're going to try to reconstitute the fund around.

That's exactly right. It's a contrarian thought right now. Inspired by funds like Benchmark, like USV, we think that there is this kind of personal relationship at the early stage that we're going to try to reconstitute the fund around.

MARK BLYTHISON- It's seed in A. It's lead checks at seed in A. And it was really a bottoms-up exercise. We thought about what is the right pacing for each GP. And for us, when we looked at our investment history over the last 10 to 15 years, it was about two to three investments per year. There were years that in 2021, I did far more, which was the wrong decision at that point.

MARK BLYTHISON- It's seed in A. It's lead checks at seed in A. And it was really a bottoms-up exercise. We thought about what is the right pacing for each GP. And for us, when we looked at our investment history over the last 10 to 15 years, it was about two to three investments per year. There were years that in 2021, I did far more, which was the wrong decision at that point.

MARK BLYTHISON- It's seed in A. It's lead checks at seed in A. And it was really a bottoms-up exercise. We thought about what is the right pacing for each GP. And for us, when we looked at our investment history over the last 10 to 15 years, it was about two to three investments per year. There were years that in 2021, I did far more, which was the wrong decision at that point.

But when we looked at what was the right number, it was about two or three investments per year. And that's how we built the fund, which is that's about the pace that each GP should have in the fund. It's about a three-year fund, and we'll have about 25 investments in each fund.