Shardul Shah

The lessons to learn are don't be cute on price. Don't underestimate fantastic founders and don't overthink it. TAM is a trap. Go back and look at the S1s of some of the biggest public companies today. Their market caps are bigger than what they thought the TAM would be. The best founders find and expand market opportunities. We are in the business of finding fund returners.

The lessons to learn are don't be cute on price. Don't underestimate fantastic founders and don't overthink it. TAM is a trap. Go back and look at the S1s of some of the biggest public companies today. Their market caps are bigger than what they thought the TAM would be. The best founders find and expand market opportunities. We are in the business of finding fund returners.

The lessons to learn are don't be cute on price. Don't underestimate fantastic founders and don't overthink it. TAM is a trap. Go back and look at the S1s of some of the biggest public companies today. Their market caps are bigger than what they thought the TAM would be. The best founders find and expand market opportunities. We are in the business of finding fund returners.

The power law dominates our business. Not being in a $10, $20, $50, $100 billion company is actually painful.

The power law dominates our business. Not being in a $10, $20, $50, $100 billion company is actually painful.

The power law dominates our business. Not being in a $10, $20, $50, $100 billion company is actually painful.

Thanks for having me back. Tell me, in all of the time you've spent interviewing so many people, what's the number one lesson you've learned? There's no right way to de-adventure.

Thanks for having me back. Tell me, in all of the time you've spent interviewing so many people, what's the number one lesson you've learned? There's no right way to de-adventure.

Thanks for having me back. Tell me, in all of the time you've spent interviewing so many people, what's the number one lesson you've learned? There's no right way to de-adventure.

Yeah, it took me a long time to figure that out. Growing up, I grew up outside of Chicago. And so my childhood hero was Michael Jordan. And all of the advertisements are, be like Mike. Like be yourself is actually the message in life and as an investor.

Yeah, it took me a long time to figure that out. Growing up, I grew up outside of Chicago. And so my childhood hero was Michael Jordan. And all of the advertisements are, be like Mike. Like be yourself is actually the message in life and as an investor.

Yeah, it took me a long time to figure that out. Growing up, I grew up outside of Chicago. And so my childhood hero was Michael Jordan. And all of the advertisements are, be like Mike. Like be yourself is actually the message in life and as an investor.

No way. I think, you know, I learned this from Josh Mata, who's the founder of Coalition, sent me The annual reports from Stone Ridge, which is a hedge fund and everywhere, kind of a Warren Buffett style kind of annual report comes out. And in one of the reports, founder alluded to a culture of belonging and the spirit of belonging. is for people to be themselves and not to assimilate.

No way. I think, you know, I learned this from Josh Mata, who's the founder of Coalition, sent me The annual reports from Stone Ridge, which is a hedge fund and everywhere, kind of a Warren Buffett style kind of annual report comes out. And in one of the reports, founder alluded to a culture of belonging and the spirit of belonging. is for people to be themselves and not to assimilate.

No way. I think, you know, I learned this from Josh Mata, who's the founder of Coalition, sent me The annual reports from Stone Ridge, which is a hedge fund and everywhere, kind of a Warren Buffett style kind of annual report comes out. And in one of the reports, founder alluded to a culture of belonging and the spirit of belonging. is for people to be themselves and not to assimilate.

If your goal is to be the best version of yourself and your firm's goal is to be the best firm on the planet, there's no room for assimilation and confirmation conforming to other norms. So I think it's absolutely wrong. I think if you try to assimilate to be someone who you're not, you're setting yourself up for failure.

If your goal is to be the best version of yourself and your firm's goal is to be the best firm on the planet, there's no room for assimilation and confirmation conforming to other norms. So I think it's absolutely wrong. I think if you try to assimilate to be someone who you're not, you're setting yourself up for failure.

If your goal is to be the best version of yourself and your firm's goal is to be the best firm on the planet, there's no room for assimilation and confirmation conforming to other norms. So I think it's absolutely wrong. I think if you try to assimilate to be someone who you're not, you're setting yourself up for failure.

I don't know. What can I tell you? I've been with Index for 20 years. So I don't have actually a lot of experience with other venture cultures. At Index, there's this deep acknowledgement of the importance of mentorship and apprenticeship. That's how you evolve in your career. And I've been super lucky to have seven mentors in my career. Not once was I coached or not once did I play

I don't know. What can I tell you? I've been with Index for 20 years. So I don't have actually a lot of experience with other venture cultures. At Index, there's this deep acknowledgement of the importance of mentorship and apprenticeship. That's how you evolve in your career. And I've been super lucky to have seven mentors in my career. Not once was I coached or not once did I play