Patrick O'Shaughnessy

Everyone kind of thinks in 10 times multiple or something for a software business.

But I think these things are often worth way, way less.

What would those numbers be?

If you were to pay three times for something, what GDR and growth rate does that imply?

They're rare earth kind of numbers.

One of the things that I'm curious about the temptation around, given how the market's evolved, is the andrels of the world, non-software technology companies, some of which have gotten quite big quite quickly.

And consumer too for us.

When you think about the God knows how many first meetings that you've done with founders across the last 30 years or so,

How would you describe the method that you use to run those personally?

Different investors on your team will do it differently, but I'm especially curious about your method.

When you have the group of partners that you have at the top that you said have been with you 25 years, sometimes 10 years as the newbies on the team at the senior level, to what do you attribute that?

What is your management style with those people?

How do you relate to them?

What would they say about you?

I'm curious how you think about something seismic like AI, both in terms of how it will affect the companies that you already own stakes in or own outright as a disruptive force, how you use it yourself to make insight work better, investment opportunities that it creates like an anthropic.

There's a lot going on with this nuclear bomb that's gone off in a good way.

How do you process it?

You said before that you really just like to win and that's maybe like a major driver of all your activity.

You have this interesting combination of you seem pretty low key and yet your activity in the firms is quite intense.

And it's kind of an interesting dichotomy.