Sam Fazeli

They seem to have sewn up the world of AI models, except for one company, which doesn't come up enough in my view, which is Mistral.

There is a model that's based out of France that is, I think a lot of people are using it and having very positive reaction to it, except that all the noise and news we hear is about OpenAI and Anthropic and all these companies and Gemini, et cetera.

So talk to this point to me, please.

When you look at your portfolio,

Do you find France specifically a strong candidate for generating these new tech ideas?

Do you find Europe particularly positive?

Are there pockets where you go, hey, we're doing really well here and it's under the radar, which is great for me to hear.

Or are you ending up doing 80% of your investments in the U.S.

?

How long have you been doing this?

Seven years.

And it's based on an LLM?

So you've got my mind racing here.

I've got so many questions, which of course we can't even finish our session if we just stayed on this.

But let me ask you a question.

In the seven years, the diamond in the rough, there are a lot of situations where somebody comes with an idea that may be a bit too early to be meaningful or biology changes five years down the road.

It doesn't change.

It gets more detailed.

Have you had the situation yet where you've gone back and said, oh, you know that company we said no to five years ago, that science?

Actually, it makes sense now.