Stuart Miller

Yeah. I mean, I guess an example. The group of people around the Collison brothers, I feel like, is very distinctive. It's kind of nerdy. Alpha nerds. Yes. Right? It's a very specific aesthetic. And Patrick's got these public policy interests and Tyler Cowen and, like, that whole crew. It's a very specific group. And by signaling it out to the world, they attract more of it.

Yeah. I mean, I guess an example. The group of people around the Collison brothers, I feel like, is very distinctive. It's kind of nerdy. Alpha nerds. Yes. Right? It's a very specific aesthetic. And Patrick's got these public policy interests and Tyler Cowen and, like, that whole crew. It's a very specific group. And by signaling it out to the world, they attract more of it.

Yeah, and I would host these events and people would come to the event and then you'd see, oh, one guy who runs a large investment firm in San Francisco had come to one and he said, oh, he sent me a note afterwards saying, Graham, you've restored my faith in humanity, which was like such a high compliment. He's referring to the fact that it's like being at a really good wedding.

Yeah, and I would host these events and people would come to the event and then you'd see, oh, one guy who runs a large investment firm in San Francisco had come to one and he said, oh, he sent me a note afterwards saying, Graham, you've restored my faith in humanity, which was like such a high compliment. He's referring to the fact that it's like being at a really good wedding.

You're like, oh my God, I like all these people. There's not a bad seat in the house. And I would do business with all these people. There's a level of trust or integrity or something.

You're like, oh my God, I like all these people. There's not a bad seat in the house. And I would do business with all these people. There's a level of trust or integrity or something.

Yeah. It's creating talent density. And then to your point, it like creates a gravitational force of its own and people end up doing business with each other.

Yeah. It's creating talent density. And then to your point, it like creates a gravitational force of its own and people end up doing business with each other.

Sometimes, sometimes not. But what I do, it's just very visceral. It's like if I get stuck sitting next to this person forever. Am I neutral, psyched, or bummed? All psyched. All psyched. And then the result just takes care of itself. I came up with this back when I first started Eastrock as a way to evaluate hedge fund managers. I felt like often...

Sometimes, sometimes not. But what I do, it's just very visceral. It's like if I get stuck sitting next to this person forever. Am I neutral, psyched, or bummed? All psyched. All psyched. And then the result just takes care of itself. I came up with this back when I first started Eastrock as a way to evaluate hedge fund managers. I felt like often...

If we had like 30 people in a room pitching investment ideas, the room knew who the best people were. I'd go in with a thesis on, this guy's the best on special situations. This is the best tech long short guy. And then some percentage of the time, the room agreed with me. But then over the course of several days of thinking, talking, different people would emerge.

If we had like 30 people in a room pitching investment ideas, the room knew who the best people were. I'd go in with a thesis on, this guy's the best on special situations. This is the best tech long short guy. And then some percentage of the time, the room agreed with me. But then over the course of several days of thinking, talking, different people would emerge.

If you read the room correctly, the room kind of knows where the pockets of quality are most of the time.

If you read the room correctly, the room kind of knows where the pockets of quality are most of the time.

Charlie Songhurst, who I think I introduced you to.

Charlie Songhurst, who I think I introduced you to.

He had left Microsoft and he was trying to figure out what to do next. And I remember counseling him at the time. He said he really appreciated that I wasn't trying to fit him into existing concepts, but I was just trying to figure out what was best for him. His appreciation of my doing that kind of made it object to me and I tried to do it with other people.

He had left Microsoft and he was trying to figure out what to do next. And I remember counseling him at the time. He said he really appreciated that I wasn't trying to fit him into existing concepts, but I was just trying to figure out what was best for him. His appreciation of my doing that kind of made it object to me and I tried to do it with other people.

He had been at an East Rock event, a hedge fund gathering we had, and had touted Bitcoin back when it was probably six months before we ended up buying it. But we bought a small amount at $300 a coin. And then it proceeded to go up quite a bit. And so I was trying to figure out what to do with the position, whether it was real, how to think about it. And so I went to a crypto conference.

He had been at an East Rock event, a hedge fund gathering we had, and had touted Bitcoin back when it was probably six months before we ended up buying it. But we bought a small amount at $300 a coin. And then it proceeded to go up quite a bit. And so I was trying to figure out what to do with the position, whether it was real, how to think about it. And so I went to a crypto conference.