Stuart Miller

I had been working with one of the co-founders of Greenlight, Jeff Keswin, and running a fund of hedge funds and doing some seeding. I was keeping an eye out for how to be source on something myself and got an introduction to someone who was advising the Miller family. I wanted that sense of selecting people, empowering them. I had observed that a lot of

I had been working with one of the co-founders of Greenlight, Jeff Keswin, and running a fund of hedge funds and doing some seeding. I was keeping an eye out for how to be source on something myself and got an introduction to someone who was advising the Miller family. I wanted that sense of selecting people, empowering them. I had observed that a lot of

fund of funds people and endowment allocators had this scarcity mindset and were very focused on fees and felt like they would be taken advantage of and kind of disgruntled all the time. I thought there was an opportunity to approach it as being on the same side of the table of let's take risk together, let's make money together and have that be the overall gestalt of the place.

fund of funds people and endowment allocators had this scarcity mindset and were very focused on fees and felt like they would be taken advantage of and kind of disgruntled all the time. I thought there was an opportunity to approach it as being on the same side of the table of let's take risk together, let's make money together and have that be the overall gestalt of the place.

Adam Shapiro had been a year ahead of me at Yale, and we'd talked about working together over the years. And he was in the special situations group at Goldman. And I remember thinking, actually, Vinod Khosla has this line that if you can hire somebody that your anchor client could not hire themselves for some reason, but is blown away by, try to do that. And I remember thinking, oh, I did that.

Adam Shapiro had been a year ahead of me at Yale, and we'd talked about working together over the years. And he was in the special situations group at Goldman. And I remember thinking, actually, Vinod Khosla has this line that if you can hire somebody that your anchor client could not hire themselves for some reason, but is blown away by, try to do that. And I remember thinking, oh, I did that.

I found it turned out Adam and Stuart knew people in common. and had been involved in similar deals. Adam had done a lot of real estate and they had a similar, enough of an overlap in sensibility that that ended up being an amazing hire. And it was more than a hire. He ended up being the co-founder and co-CIO with me. And then we built a great business.

I found it turned out Adam and Stuart knew people in common. and had been involved in similar deals. Adam had done a lot of real estate and they had a similar, enough of an overlap in sensibility that that ended up being an amazing hire. And it was more than a hire. He ended up being the co-founder and co-CIO with me. And then we built a great business.

I think it's somebody who's got similar taste in people that I do or that I can sense their taste in people and it's a subset of mine and I can constrain the things we invest into that. And then the ability to hunt for opportunity in an extremely opportunistic way.

I think it's somebody who's got similar taste in people that I do or that I can sense their taste in people and it's a subset of mine and I can constrain the things we invest into that. And then the ability to hunt for opportunity in an extremely opportunistic way.

unconstrained way where because I have so much money at risk, there's this mutual trust and credibility and it overlaps with how they're already inclined to manage money. There are no style points. The lack of gap between principal and agent is so thin. It was what I would aspire to.

unconstrained way where because I have so much money at risk, there's this mutual trust and credibility and it overlaps with how they're already inclined to manage money. There are no style points. The lack of gap between principal and agent is so thin. It was what I would aspire to.

and that the amount of money total provides leverage so that you can play interesting games and find interesting people and have it be worth their time. At this stage, I kind of want license to hunt big game. I already have some big opportunities in mind, and my own chip stack is not quite big enough to closing those deals. But

and that the amount of money total provides leverage so that you can play interesting games and find interesting people and have it be worth their time. At this stage, I kind of want license to hunt big game. I already have some big opportunities in mind, and my own chip stack is not quite big enough to closing those deals. But

If somebody shares my taste and my map of reality and says, oh, yeah, you're right, then that would feel very satisfying. It's like the ease of it is a quality of it.

If somebody shares my taste and my map of reality and says, oh, yeah, you're right, then that would feel very satisfying. It's like the ease of it is a quality of it.

In terms of applying it to me, I feel like at this stage I'm very open to what the world wants. Rather than trying to assert reality, I'm more letting it unfold and trying to surrender a little bit and see what comes in. I think I'm good at, I can be of service in putting two people together.

In terms of applying it to me, I feel like at this stage I'm very open to what the world wants. Rather than trying to assert reality, I'm more letting it unfold and trying to surrender a little bit and see what comes in. I think I'm good at, I can be of service in putting two people together.

All the source dynamics we've talked about or finding the right fit for somebody at that stage of your life. I really like giving high context advice when there's a lot at stake, whether that's picking a business partner, picking an investor. Picking a spouse, I think picking a nanny is oddly high stakes. And I really care about it on behalf of that person's kid.

All the source dynamics we've talked about or finding the right fit for somebody at that stage of your life. I really like giving high context advice when there's a lot at stake, whether that's picking a business partner, picking an investor. Picking a spouse, I think picking a nanny is oddly high stakes. And I really care about it on behalf of that person's kid.