Zach Lloyd

Oh yeah, yeah.

No, trust me.

I'm a little scared of my level of transparency in this, but whatever.

And now I'm being like, ah, that was really, I'm very bullish on open AI for no good reason.

Like other than like, I think that they have the, I think they have the magic consumer product, the next generation of it.

And it's worth so much.

That's interesting.

I mean, I haven't gotten the VC transfer of wealth to me yet.

It's not exactly why I'm in it, but yeah, let's see.

So I have done the formal process thing before.

I didn't do it with Warp.

I did it with the company before Warp, where when we went out to raise a Series A, we flew out to Silicon Valley and pitched 20 firms in a week or whatever, kind of took the best term sheet, and then got in bed with an investor.

And I did not think that process led to an amazing result.

And so with Warp, I really tried not to replicate that.

The way I did it with Warp was as I was developing the idea, I was talking to a few investors I knew who I'd known for a really long time who just, when I was like, I'm ready to do this idea, were like, we love the idea.

We want to invest.

So not every founder is going to have that opportunity.

But if you have that opportunity, I think that's...

way preferable.

And then for the subsequent rounds of Warp, which were Dylan Field led the A and Sequoia led the B, that was all preempted.