Neil Mehta

And at 24 or something like that, to be out there was amazing. It was an incredible experience. And China was taking off. I spent my time doing all sorts. It was a special situations group. So I actually spent none of my time on internet companies. I spent all my time looking at Macau real estate, Chinese real estate, India real estate, distressed debt came later.

And at 24 or something like that, to be out there was amazing. It was an incredible experience. And China was taking off. I spent my time doing all sorts. It was a special situations group. So I actually spent none of my time on internet companies. I spent all my time looking at Macau real estate, Chinese real estate, India real estate, distressed debt came later.

I'll give the most favorable interpretation. If Adam was sitting here, he would describe it as, I was a benevolent but negligent boss. And I let Neil go spend time on things that were interesting to him at the cost of spending time on things that were important to me. I'm very grateful to this day for him allowing me to do that. I remember going out to Guangzhou to look at real estate.

I'll give the most favorable interpretation. If Adam was sitting here, he would describe it as, I was a benevolent but negligent boss. And I let Neil go spend time on things that were interesting to him at the cost of spending time on things that were important to me. I'm very grateful to this day for him allowing me to do that. I remember going out to Guangzhou to look at real estate.

It's like 2007. And I get out there. Guangzhou was nothing at the time. It was a couple of buildings. There's no Google Maps out there at the time. So you'd land and say, hey, I have to go through this apartment building. I have to look potentially buying this new high-rise apartment building that's just coming up. Built by a spec developer. I get to buy it and then rent it out.

It's like 2007. And I get out there. Guangzhou was nothing at the time. It was a couple of buildings. There's no Google Maps out there at the time. So you'd land and say, hey, I have to go through this apartment building. I have to look potentially buying this new high-rise apartment building that's just coming up. Built by a spec developer. I get to buy it and then rent it out.

The yields might be in the 12 to 15 range. Pretty good yields. Get out there. Nobody would know how to get to this apartment building because the road didn't exist six months ago. So you'd have to pay some guy on a motorcycle to take you out there. They'd take you out there to the high rise. You'd sit down in a chair and they'd auction off the apartment building.

The yields might be in the 12 to 15 range. Pretty good yields. Get out there. Nobody would know how to get to this apartment building because the road didn't exist six months ago. So you'd have to pay some guy on a motorcycle to take you out there. They'd take you out there to the high rise. You'd sit down in a chair and they'd auction off the apartment building.

I'd be sitting there competing with a guy that was wearing a wife beater, smoking three cigarettes. I'm like, who is this guy? I represent a multi-strat $30 billion plus investment manager. Who is this guy? There's moments you get in life where you realize there's the top.

I'd be sitting there competing with a guy that was wearing a wife beater, smoking three cigarettes. I'm like, who is this guy? I represent a multi-strat $30 billion plus investment manager. Who is this guy? There's moments you get in life where you realize there's the top.

And this was one of them where this guy just had 100% LTV financing from some bank that would eventually have to wash the NPL through their balance sheet. But at the time, I was blown away. I was like, wow, this is a pretty crazy world. But they would take out their phones, using their phone for things. And I had a BlackBerry at the time, 2007. The iPhone came out in March of 2007, I think.

And this was one of them where this guy just had 100% LTV financing from some bank that would eventually have to wash the NPL through their balance sheet. But at the time, I was blown away. I was like, wow, this is a pretty crazy world. But they would take out their phones, using their phone for things. And I had a BlackBerry at the time, 2007. The iPhone came out in March of 2007, I think.

The App Store in 2008. And it hadn't really got to China in any way whatsoever. And I remember the Beijing Olympics in 2008. And so I went out to Beijing. And it was really at the Beijing Olympics where I started to flip into what could be happening in technology. Where Michael Phelps won all those medals at the Beijing Olympics. And the lights would go down in the cube.

The App Store in 2008. And it hadn't really got to China in any way whatsoever. And I remember the Beijing Olympics in 2008. And so I went out to Beijing. And it was really at the Beijing Olympics where I started to flip into what could be happening in technology. Where Michael Phelps won all those medals at the Beijing Olympics. And the lights would go down in the cube.

And they would spotlight the swimmers. And the first time they did that, nobody's phones were out. The last time they did it, everybody had the little glow on their face. And the BlackBerry just didn't have that same glow. I would look over and ask my friends, what are you guys using? And they're like, oh, we're using QQ, which was the predecessor to WeChat.

And they would spotlight the swimmers. And the first time they did that, nobody's phones were out. The last time they did it, everybody had the little glow on their face. And the BlackBerry just didn't have that same glow. I would look over and ask my friends, what are you guys using? And they're like, oh, we're using QQ, which was the predecessor to WeChat.

And I remember going home and being like, QQ, what is this thing? And I'd look it up, study as much of it as I could. And I remember finding a stat, which was QQ was adding something like 30 million subscribers a month. which is still a crazy number, by the way. But at that time, that was unheard of. We'd eventually turn into WeChat.

And I remember going home and being like, QQ, what is this thing? And I'd look it up, study as much of it as I could. And I remember finding a stat, which was QQ was adding something like 30 million subscribers a month. which is still a crazy number, by the way. But at that time, that was unheard of. We'd eventually turn into WeChat.

And at the time, Adam was asking me to look at distressed banks in Europe that had been around 150 years and had 30 million total deposit holders. And this company was adding 30 million people a month. And I was like, I want to spend all my time on Tencent. I don't want to spend any of my time on some distressed bank in Europe. This is uninteresting to me.

And at the time, Adam was asking me to look at distressed banks in Europe that had been around 150 years and had 30 million total deposit holders. And this company was adding 30 million people a month. And I was like, I want to spend all my time on Tencent. I don't want to spend any of my time on some distressed bank in Europe. This is uninteresting to me.