Peter Lacaillade

It'd be helpful for you to come in.

It's feeling out the softer side of those different partnerships, the people involved, their consistency, the likelihood they're going to be there for a while.

Because even though there's a lot of different firms and entities out there, it is still a pretty small community of both managers and LPs out there.

And it's really important for GPs not to just raise the money the fastest, particularly when they're starting off or at an inflection point of firm.

If you set the table with the right folks, you set yourself up not only for this fund, but for the next two, three, four funds, as well as co-investments.

And if you want to launch different strategies or whatever it might be.

Similarly, if you don't do that, then you might have explaining to do and it's just distracting.

I've obviously been itching to talk about Jake and Frank because I just think they're truly exceptional.

What's actually a little bit different with a ZBS versus a Shure is Justin Ishbia, who is also an N of one, has built a true machine.

Whereas I think ZBS is really the partnership of Jake and Frank.

And there's a real key man risk with both of them.

And

how much it scales.

But I mean, that is really a yin yang situation where Jake is the most aggressive, high energy guy, but he's also super neurotic.

He's talking a mile a minute and he's going to have a very high volume acquisitions.

He's extremely personable.

et cetera.

But he's also definitely got that kind of risk orientation.

And then he's like the Jake and Frank, they're both co-CEOs.

He's going to be on the acquisition, the front end of things.