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Tony James

πŸ‘€ Speaker
954 total appearances

Appearances Over Time

Podcast Appearances

The a16z Show
Building Blackstone, Backing Costco, with Tony James

So he really knew that market.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

And the economic model of the store was so powerful that it was compelling, I thought.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

And you're not like betting on a new technology.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

Is the market going to embrace it or is it going to work?

The a16z Show
Building Blackstone, Backing Costco, with Tony James

Because it was pretty prosaic and someone like even me, I could understand it.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

But also there was a working model.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

So we did that and then...

The a16z Show
Building Blackstone, Backing Costco, with Tony James

And it was one of the all-time great investments, I have to say.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

One thing I learned is a lot of people, I think, hold things too long.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

I'd probably sell too early.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

I mean, David, when you find a couple of executives and back them before there's a company, before there's a dollar of revenue, before there's an order,

The a16z Show
Building Blackstone, Backing Costco, with Tony James

you feel as much as they do that you're a founder.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

Totally.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

And so it becomes like, and I'm, you know, I've been a director now.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

I'm on my third CEO.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

Yep.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

So it feels like I identify with a company as if it's mine.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

I don't want to take any credit away from the great management we've had.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

We have had great management.

The a16z Show
Building Blackstone, Backing Costco, with Tony James

But emotionally, I feel that kind of connection and that sense of ownership.