Rory Driscoll

The beauty of what Andreessen are clearly trying to do, and why I think they'll be able to manage it, is they're basically trying to transcend the individual by just being an institution.

Their fundamental bet has been that venture capital is going to go the same way as investment banking.

It used to be dominated by individuals and small partnerships, and now it's dominated by Mr. Goldman, Mr. Sachs, and it used to be Mr. Salomon Brothers.

And they all went public, and they're all just a very different business.

That's the bet they're making.

Cynical comment.

If anyone has a rational economic incentive to manage generational transition, it's that firm.

Because Mr. Kravis and Mr. Roberts can settle into a comfortable retirement, drawing off the management scheme from KKNR, provided those fine 40-something Ivy League graduates that they've hired to run their firm can keep it on a straight and narrow.

And the economics to anyone building that kind of equivalent of the investment bank that goes public, they've every incentive to do it.

I would not like to think of the Tesla stock price if Mr. Musk decided to move back to South Africa and retire.

It's a good plan.

Yeah, it's a great plan.

I'm with him.

If anyone will, he will.

So there, we're not, so Harry, we're going to avoid your question because I think we have a sense of what the answer would be.

So I'm avoiding the question by skipping it.

I think it's a good IPO.

I think it points to the need for scale, profitability, and it's a very different IPO, obviously.

Just for everyone's background, EquipmentShare is a kind of technology-enabled equipment rental company for construction.

So if you're a builder in, you know, pick any U.S.