Michael Gilroy
speaker
885 appearances
1 recordings
1 series
first heard Jul 2026
last heard 20 Jul
Michael Gilroy’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
We shouldn't get paid the same amount regardless of how the company does.
It's just basic incentives.
And so we said, we are going to charge zero seven and a half or zero 12 and a half.
If we beat our underwrite in our model by X percent, it's the same for all of it.
We get kicked up to the 12 and a half percent.
So what does that do?
Suddenly I'm in the Zoom with an LP who knows the company cold and they're looking at a model and saying, Michael really believes this model because I would have given him zero and 10 all day long.
So he's leaving two and a half percent on the table on a really big co-invest.
And so now I don't have to go back to my committee and just discount everything by 20, 30%.
I'm going to use Michael's model and say, hey, if he doesn't hit this, we're going to blend our fees down a little bit and go down to seven and a half percent.
And so I think the best things in life are simple.
And this is just a really simple yet elegant way of hopefully they already trust you on the numbers.
But now you're putting your money where your mouth is and you're only getting paid the 12 and a half if you do your job.
So you've set the over under and now you've bet your carry into it.
How did you come up with this?
I just sat down with Gokul at the start of this and just said, what are all the things that are broken inside of our business?
Exactly right.
Because, look, especially as the firm grows, not our firm, but as a firm grows, headcount, people just want to fill the column best.
What should the model say if we need to go raise $200 million so I can get back to my job?
That's just the reality of the program.
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