Narayan Chowdhury

When we think about success or what works is we tend to forget about all of the failures along the way that had the same strategy.

You know, it's all anecdotes.

Right.

So if you remember the summer of Turntable FM, right, that was hottest company in the entire universe.

I don't know if you remember this company.

I was obsessed with it.

You'd go into a room, you'd DJ some music and people would it was it was joyful.

It was it was fun.

And it grew like crazy.

Until it didn't, you know, and they the narratives there where they were doing everything right.

And this was the formula.

And here's how you build until you didn't.

It's funny to think about the real disaster funds because there aren't that many.

I think the interesting thing about power loss is one investment can often save a firm.

I'm actually thinking there's actually a buyout fund or they started life as a buyout, pure buyout metal bending fund.

Had some luck in the venture space that really saved a fund of theirs.

And then they pivoted to become a venture fund very successfully.

And I always think about that as

you know, risk saved that franchise.

Interestingly, we worry more about the ultimate operations and behavior of firms.