Rory O'Driscoll

some element of breakage is inevitable.

some element of breakage is inevitable.

Yeah, maybe early on you remember, you're right, over time.

Yeah, maybe early on you remember, you're right, over time.

To Jason's point, you develop a thick skin.

To Jason's point, you develop a thick skin.

And you're right, I remember much less the turndowns in Fund 7 than in Fund.

And you're right, I remember much less the turndowns in Fund 7 than in Fund.

Yeah, the first independent fund was Fund 3.

Yeah, the first independent fund was Fund 3.

I do remember in Fund 3, our first independent fund, which we foolishly timed literally for the week of the great financial crisis in November 08, getting turned down three times in the space of an hour.

I do remember in Fund 3, our first independent fund, which we foolishly timed literally for the week of the great financial crisis in November 08, getting turned down three times in the space of an hour.

So I do remember that pretty vividly, but life goes on.

So I do remember that pretty vividly, but life goes on.

The only comment on, and first of all, broadly agree, but the only pushback I'll make is this.

The only comment on, and first of all, broadly agree, but the only pushback I'll make is this.

We're having the, oh, they're amazing that they can do this with only 146 heads.

We're having the, oh, they're amazing that they can do this with only 146 heads.

But remember, if you're spending 50% to 70% of your revenue on intelligence,

But remember, if you're spending 50% to 70% of your revenue on intelligence,