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# Techstars Managing Director Amos Schwartzfarb: Bridge the gap between tactics and vision
- URL: https://www.ceo.com/episodes/austin-techstars-managing-director-amos-schwartzfarb-investing-in-the-human-element/
- Published: 2023-05-16T10:00:02.000Z
- Updated: 2026-09-02T01:08:08.000Z
- Description: A rule about ego, a rule about data, and the one question he wished he had kept asking.
- Author: Clint Betts

# The guitar test

Amos Schwartzfarb did not want to hear about your business. Not in the first meeting, and not in the second. He knew that sounded strange coming from an investor, and he knew founders would try anyway. "People are excited to talk about it, and I get it," he told the CEO.com Podcast. But he tried not to listen. He did not want to be biased one way or the other before he knew who he was dealing with.

Instead, he wanted to find out what else you had done with your life, and whether you were still doing it.

Schwartzfarb ran [Techstars Austin](https://www.techstars.com/blog/program-news/amos-schwartzfarb?ref=ceo.com) from 2015 until a few years ago, writing more than 70 seed-stage checks and running two cohorts of 12 companies a year. Before that, he spent two decades in sales at [companies that got bought](https://www.leversbook.com/?ref=ceo.com): HotJobs, sold to Yahoo; Business.com, sold to R.H. Donnelly; BlackLocus, sold to The Home Depot. He joined the CEO.com Podcast on May 16, 2023, from a home office with instruments visible on the wall behind him. That detail turned out to matter.

His screening method went like this. If a founder had played sports, he did not care how good they had been. He wanted to know if they still trained. Did they get up and work out for an hour before the office five or six days a week, or take a real break every day at lunch? If they had played guitar as a kid, did they still pick it up for an hour a day, and what were they working on? He would ask specific questions to check. Then he would ask how they tracked it. An athlete with no system told him one thing. An athlete with a spreadsheet told him they were obsessed. A musician with a notebook for songs learned, another for songs written, and a third for chords practiced was showing him exactly how they processed information and used it to get better.

The logic is plain. A person who is disciplined and data-driven about something that does not pay will probably be disciplined and data-driven about the thing that does.

The other half of the test had nothing to do with discipline. "Are they good human beings? This is very, very important to me." Schwartzfarb has a no-asshole rule and does not apologize for it. He was getting into companies so early that the relationship would last a decade or longer, and he wanted relationships that would improve his life as a person, not just his returns. "I don't care how awesome your business is going to be. If you've got a huge ego and you're not coachable, let someone else invest in you, but it's not me."

He also admitted he broke the rule. Every couple of programs, he got excited about a business and missed the person attached to it. "Easy to say, but harder when you're looking down the barrel of a great investment."

There was a third question he used to ask himself and had let slide: would he go work for this founder? If yes, that was someone worth backing, because he would be investing his own time as well as his money. He had dropped it because the deal volume got too high. He said he probably ought to bring it back.

None of this came from a book, though Schwartzfarb wrote two, and neither of those was planned either. He raced mountain bikes for years. A crash kept him off the bike, and he needed something to do with his hands. Other Techstars managing directors had been asking him to run a sales workshop. Anyone in sales knows that is not a real request, because sales is too broad for one workshop, so he made a list of every workshop he could teach, then wrote a summary under each bullet so his peers could choose. He looked at the finished document and realized it was something else. At the same moment, a woman he knew from a past life, by then an editor at Wiley, asked if he knew anyone who wanted to write a book. Three weeks later he had a draft of [*Sell More Faster*](https://www.wiley.com/en-us/Sell+More+Faster:+The+Ultimate+Sales+Playbook+for+Startups+-p-9781119597803?ref=ceo.com). "If I wasn't injured, never would've happened."

The experience soured him on publishing. Wiley was a good partner, he said, but he doesn't own the copyright to his own material and doesn't understand why. So when he and Trevor Boehm, a colleague at Techstars who had ghostwritten a bestseller, considered turning their founder workshops into a second book, they set two conditions. Neither would write the whole thing, and they would self-publish. They brought in two friends, Troy Henikoff and Cody Simms, whose workshops were already part of the process, and split the chapters four ways. [*Levers*](https://www.leversbook.com/?ref=ceo.com) took about three weeks to draft, same as the first. Schwartzfarb has since learned that this is fast. People who ask him for advice on their own books tend to take months.

Asked about competition, he said he didn't think about Y Combinator or the other accelerators, because he was selling himself, not a brand. When a founder was choosing between the two programs, he would ask what they wanted, help them decide, and sometimes send them to YC or to founders who had done both. The only competitor that occupied him was the seed fund that told its CEOs an individual partner could replace what Techstars does with a network of thousands. He called that naive. It was, he said, the most common thing that blocked a good investment, though not that common.

The interview took place as venture funding was tightening and the word recession was in the air. Schwartzfarb was not worried about it. Late-stage companies would have a hard time. Early-stage checks are small, and every one of them is a bet on a dream anyway, so the capital was still there. What newer investors miss, he said, is that a seed check written in a downturn pays out a decade later. "If we are not out of it by then, we've got way bigger problems than the checks you're writing today." He thought it was the best time to invest at the seed stage since 2008 or 2009, and he liked that money was scarce, because it thinned the field. The founders without resolve were opting out before he had to screen them.

He was equally unbothered by the usual complaint about venture capital, that it forces every company toward a sale or an IPO. That is the job. "This isn't charity work." But a founder thinking about the exit before a Series C was thinking about the wrong thing. Build something customers value and the liquidity takes care of itself.

When asked how a fast-growing tech city avoids becoming Silicon Valley? Schwartzfarb said he didn't really think about it, and admitted that was a little naive. His argument was that the ingredients are different. Silicon Valley was seeded by government research money in a different century. Austin grew from the inside out, from artists and creative people, and it is the first American city to emerge in the lifetime of anyone who was listening. Seattle, Detroit, New York all happened before. He may be right that the ingredients differ. But every city in the middle of a boom has said some version of this, and the people who said it in the Bay Area in 1985 believed it too. The honest part of his answer was the admission, not the argument.

He was more confident about what actually draws people to Austin. The tax situation helps. So does the weather, which he described as 12 months of usable outdoors as long as you get up early in summer. But the real thing, he said, is a thread that runs under the old Keep Austin Weird slogan: it is fine to be uniquely yourself there, and entrepreneurs, who are always a little different from the people around them, tend to notice. SXSW, in his view, does not build the ecosystem so much as put a few hundred thousand people in a good mood in a nice place for a week. They come back three weeks later and find the real Austin. "Which is actually arguably better."

At the end, he was asked about the instruments on the wall. How often did Schwartzfarb play them?

"Every day."

In an [interview published in August 2026](https://voyageaustin.com/interview/conversations-with-amos-schwartzfarb?ref=ceo.com) he said he left venture "a few years back" and now works only with CEOs, on their businesses and on themselves. His [LinkedIn](https://www.linkedin.com/in/amosschwartzfarb/?ref=ceo.com) headline now begins "CEO Coach and Consigliere." He also fronts a band, [Future Hippies of Punk](https://futurehippiesofpunk.com/?ref=ceo.com), which he says he runs like one of the businesses he owns. When asked in 2023 whether a third book was coming, he said no. He was onto other projects.

```chapters
00:00:00 Amos's Path to Techstars Austin
00:02:15 Writing His First Book After an Injury
00:05:04 Co-Writing Levers With Friends
00:08:03 What Techstars Actually Invests In
00:10:50 State of Accelerators and Competition
00:16:23 How Amos Vets Founder Passion
00:20:57 The No Asshole Rule
00:25:45 Board Seats and Fund Manager Priorities
00:26:45 Current State of Early-Stage Investing
00:29:35 Critiques of VC Exit Focus
00:30:46 Leadership Evolution as Companies Scale
00:33:09 Austin's Growing Tech Ecosystem
00:37:21 South by Southwest's Impact on Austin
00:37:59 Avoiding Silicon Valley's Pitfalls
```

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And<00:03:01.724> anyone<00:03:02.110> who's<00:03:02.447> in<00:03:02.527> sales<00:03:02.929> knows<00:03:03.250> that<00:03:03.411> a<00:03:03.491> workshop<00:03:03.893> on<00:03:03.973> sales<00:03:04.455> is<00:03:04.535> not<00:03:04.696> a<00:03:04.840> real<00:03:05.017> thing<00:03:05.338> because<00:03:06.206> sales<00:03:06.559> is<00:03:06.687> a<00:03:06.848> very<00:03:07.105> broad<00:03:08.069> topic.

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And<00:03:09.114> so<00:03:10.550> what<00:03:10.663> I<00:03:10.744> set<00:03:11.050> out<00:03:11.276> to<00:03:11.357> do<00:03:11.470> originally<00:03:12.099> was<00:03:12.405> to<00:03:12.438> say,<00:03:12.599> okay,<00:03:12.809> what<00:03:12.922> are<00:03:13.067> all<00:03:13.212> the<00:03:13.309> potential<00:03:13.857> workshops<00:03:14.341> that<00:03:14.503> I<00:03:14.745> could<00:03:16.455> put<00:03:16.680> together?

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And<00:03:17.568> I<00:03:17.664> basically<00:03:18.052> just<00:03:18.213> created<00:03:18.471> a<00:03:18.632> big<00:03:18.713> list<00:03:18.970> of<00:03:19.099> them.

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And<00:03:20.549> my<00:03:20.646> intention<00:03:21.193> was<00:03:21.370> to<00:03:21.467> send<00:03:21.676> that<00:03:21.854> to<00:03:22.240> my<00:03:22.401> peers<00:03:22.739> and<00:03:22.820> say,<00:03:23.142> you<00:03:23.223> know,<00:03:23.287> are<00:03:23.384> there<00:03:23.529> any<00:03:23.706> here<00:03:23.851> that<00:03:23.947> jump<00:03:24.253> out<00:03:24.366> at<00:03:24.495> you?

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And<00:03:24.704> I'll,<00:03:25.059> you<00:03:25.107> know,<00:03:25.171> I'll<00:03:25.397> create<00:03:25.558> a<00:03:25.622> couple<00:03:25.783> workshops.

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As<00:03:27.138> I<00:03:27.235> looked<00:03:27.478> at<00:03:27.623> the<00:03:27.720> list,<00:03:28.125> I<00:03:28.205> realized<00:03:29.095> that<00:03:30.307> that<00:03:30.550> list<00:03:30.793> would<00:03:30.938> not<00:03:31.116> be<00:03:31.197> helpful<00:03:31.585> to<00:03:31.682> them<00:03:31.924> to<00:03:32.021> decide.

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And<00:03:32.652> so<00:03:32.798> I<00:03:32.814> decided<00:03:33.234> to<00:03:33.363> write<00:03:33.865> like<00:03:34.043> a<00:03:34.091> little<00:03:34.269> summary<00:03:34.900> for<00:03:35.142> each<00:03:35.401> bullet<00:03:35.643> point<00:03:35.967> that<00:03:36.128> I<00:03:36.209> had.

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And<00:03:37.283> then<00:03:37.523> I<00:03:37.683> looked<00:03:37.908> at<00:03:38.004> that<00:03:38.389> when<00:03:38.485> I<00:03:38.565> was<00:03:38.725> done<00:03:38.886> with<00:03:39.046> that,<00:03:39.447> and<00:03:39.543> I<00:03:39.607> said,<00:03:39.831> shit,<00:03:41.194> which,<00:03:41.835> um,<00:03:42.268> oh,<00:03:42.637> you're<00:03:42.733> okay,<00:03:43.134> you<00:03:43.214> can<00:03:43.326> say<00:03:43.534> shit.

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Yeah,<00:03:44.480> I,<00:03:45.041> I<00:03:45.121> thought<00:03:45.554> to<00:03:45.683> myself,<00:03:46.484> uh,<00:03:47.302> maybe,<00:03:48.023> maybe<00:03:48.263> there's<00:03:48.488> something<00:03:48.744> more<00:03:48.905> interesting<00:03:49.209> here.

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Maybe<00:03:49.578> I'll<00:03:49.722> write<00:03:49.883> a<00:03:49.947> series<00:03:50.347> of<00:03:50.508> blog<00:03:50.828> posts<00:03:52.031> and<00:03:52.127> I<00:03:52.191> can<00:03:52.431> publish<00:03:52.896> it<00:03:52.992> and<00:03:53.393> reach<00:03:53.634> a<00:03:53.714> broader<00:03:54.099> audience.

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And<00:03:54.820> so<00:03:55.076> that<00:03:55.381> was—<00:03:55.557> I<00:03:55.637> didn't<00:03:56.022> actually<00:03:56.503> do<00:03:56.599> that<00:03:57.641> initially,<00:03:58.202> but<00:03:58.363> that<00:03:58.507> was<00:03:58.667> my<00:03:58.844> thought<00:03:59.004> process.

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And<00:03:59.645> then<00:04:00.366> by<00:04:00.527> complete<00:04:01.072> coincidence,<00:04:01.745> at<00:04:01.873> the<00:04:01.953> same<00:04:02.290> time<00:04:03.749> someone<00:04:04.214> that<00:04:04.359> I<00:04:04.439> knew<00:04:04.679> from<00:04:04.840> a<00:04:04.936> past<00:04:05.417> life<00:04:05.802> reached<00:04:06.042> out<00:04:06.219> to<00:04:06.315> me,<00:04:07.325> who<00:04:07.502> was<00:04:07.742> a,<00:04:08.528> who<00:04:08.625> was<00:04:08.785> a<00:04:08.865> publisher<00:04:09.667> at<00:04:09.747> the<00:04:09.843> time<00:04:10.693> and<00:04:11.976> worked<00:04:12.169> for<00:04:12.377> Wiley<00:04:13.516> and<00:04:13.692> said,<00:04:14.558> do<00:04:14.703> you<00:04:14.815> know<00:04:15.280> any<00:04:15.521> of<00:04:15.665> your<00:04:15.825> peers<00:04:16.323> who<00:04:16.467> might<00:04:16.707> be<00:04:16.804> interested<00:04:17.221> in<00:04:17.349> writing<00:04:17.606> a<00:04:17.686> book?

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Because<00:04:18.119> I'm<00:04:18.311> looking<00:04:18.552> for<00:04:18.632> new<00:04:18.873> authors.

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And<00:04:19.514> it<00:04:19.594> was<00:04:19.851> just<00:04:20.091> a<00:04:20.172> perfect<00:04:21.070> timing<00:04:21.599> thing.

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Like,<00:04:21.936> I<00:04:22.080> had<00:04:22.337> done<00:04:22.561> all<00:04:22.754> of<00:04:22.898> this,<00:04:23.459> you<00:04:23.539> know,<00:04:23.636> sort<00:04:23.860> of<00:04:23.940> pre-work,<00:04:24.566> which<00:04:24.678> is<00:04:24.806> what<00:04:24.967> you<00:04:25.047> would<00:04:25.207> do<00:04:25.320> if<00:04:25.464> you<00:04:25.544> were<00:04:25.704> thinking<00:04:25.961> of<00:04:26.025> writing<00:04:26.266> a<00:04:26.346> book.

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Like,<00:04:27.404> I'm<00:04:27.549> like,<00:04:27.934> I<00:04:27.966> don't<00:04:28.351> know,<00:04:28.511> I<00:04:28.591> hadn't<00:04:28.800> really<00:04:28.992> thought<00:04:29.169> about<00:04:29.329> writing<00:04:29.570> a<00:04:29.634> book,<00:04:29.874> but<00:04:30.019> here's<00:04:30.355> this<00:04:30.837> stuff<00:04:31.237> I<00:04:31.318> put<00:04:31.478> together.

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And,<00:04:32.424> you<00:04:32.456> know,<00:04:32.520> she's<00:04:32.745> like,<00:04:33.018> super<00:04:33.323> interesting.

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Do<00:04:34.366> you<00:04:34.511> think<00:04:34.623> you<00:04:34.752> can<00:04:34.848> put<00:04:35.009> that<00:04:35.169> into<00:04:35.394> a<00:04:35.490> book?

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And<00:04:35.908> I<00:04:35.972> was<00:04:36.133> like,<00:04:36.438> I<00:04:36.454> don't<00:04:36.678> know.

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So<00:04:37.080> I<00:04:37.112> sat<00:04:37.497> down<00:04:37.818> and,<00:04:38.364> you<00:04:38.396> know,<00:04:39.504> 3<00:04:39.729> weeks<00:04:39.970> later<00:04:40.612> I<00:04:40.628> had<00:04:41.752> basically<00:04:42.298> written,<00:04:42.603> you<00:04:42.699> know,<00:04:43.422> the<00:04:43.502> first<00:04:43.743> draft<00:04:44.016> of<00:04:44.337> Somewhere<00:04:44.706> Faster.

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Um,<00:04:46.730> and<00:04:46.826> it<00:04:46.890> was<00:04:47.115> really<00:04:47.436> like,<00:04:48.014> if<00:04:48.159> I<00:04:48.239> wasn't<00:04:48.496> injured,<00:04:48.817> never<00:04:49.042> would<00:04:49.122> have<00:04:49.202> happened.

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If<00:04:50.246> I,<00:04:50.503> you<00:04:50.583> know,<00:04:51.948> I<00:04:52.044> didn't—<00:04:52.365> it<00:04:52.494> was<00:04:52.654> not<00:04:52.831> on<00:04:52.911> my<00:04:53.072> bucket<00:04:53.313> list<00:04:53.473> to<00:04:53.569> write<00:04:53.730> a<00:04:53.794> book.

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It<00:04:54.099> was<00:04:54.260> really<00:04:54.501> the<00:04:54.581> sort<00:04:54.758> of<00:04:54.822> like<00:04:54.998> the<00:04:55.143> perfect<00:04:55.464> timing<00:04:55.882> of<00:04:55.962> several<00:04:56.363> things<00:04:56.684> that<00:04:57.070> brought<00:04:57.311> that<00:04:57.471> one<00:04:57.808> to<00:04:57.969> fruition.

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The<00:04:59.159> second<00:04:59.498> book<00:04:59.659> was<00:04:59.805> a<00:04:59.885> little<00:05:00.063> bit<00:05:00.240> different,<00:05:01.015> um,<00:05:01.273> because,<00:05:02.387> uh,<00:05:03.516> there's<00:05:03.791> a<00:05:03.855> few<00:05:04.162> things.

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One,<00:05:05.453> um,<00:05:07.809> I<00:05:07.890> think<00:05:08.100> Wiley<00:05:08.517> was<00:05:08.758> a<00:05:08.935> really<00:05:09.257> great<00:05:10.205> partner<00:05:10.864> in<00:05:10.944> getting<00:05:11.185> that<00:05:11.426> book<00:05:11.731> out,<00:05:12.133> but<00:05:12.937> as<00:05:13.033> an<00:05:13.178> entrepreneur,<00:05:14.576> I<00:05:14.720> think<00:05:14.945> the<00:05:15.042> publishing<00:05:15.540> industry<00:05:16.086> is<00:05:16.247> pretty<00:05:16.568> broken,<00:05:17.051> and<00:05:17.195> I<00:05:17.260> wasn't<00:05:17.923> gonna<00:05:18.101> do<00:05:18.343> another<00:05:18.732> book<00:05:18.974> with<00:05:19.088> a<00:05:19.152> traditional<00:05:19.638> publisher.

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So<00:05:20.285> like,<00:05:21.239> you<00:05:21.336> know,<00:05:21.433> like,<00:05:21.643> I<00:05:21.660> don't<00:05:21.821> own<00:05:21.967> the<00:05:22.048> copyright<00:05:22.549> of<00:05:22.727> Sell<00:05:22.889> More<00:05:23.116> Faster.

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Like,<00:05:23.698> it's<00:05:24.005> my<00:05:24.086> material,<00:05:24.474> like,<00:05:24.572> why<00:05:24.669> don't<00:05:24.879> I<00:05:24.976> look<00:05:25.138> at<00:05:25.235> it,<00:05:25.283> right?

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So<00:05:25.558> like,<00:05:25.769> there's<00:05:25.882> a<00:05:25.947> bunch<00:05:26.173> of<00:05:26.270> things<00:05:26.433> there,<00:05:26.518> like,<00:05:26.687> that<00:05:26.941> industry<00:05:27.364> just<00:05:27.992> like<00:05:28.393> once<00:05:28.713> I<00:05:28.777> got<00:05:28.969> into<00:05:29.354> it,<00:05:30.011> I<00:05:30.059> was<00:05:30.956> like,<00:05:31.053> yeah,<00:05:31.437> if<00:05:31.469> I'm<00:05:31.678> ever<00:05:31.790> gonna<00:05:31.918> do<00:05:31.950> this<00:05:32.158> again,<00:05:32.351> I'm<00:05:32.463> gonna<00:05:32.559> do<00:05:32.655> it<00:05:32.719> a<00:05:32.783> lot<00:05:32.976> different.

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So,<00:05:34.225> and<00:05:34.386> it's<00:05:34.626> a<00:05:34.642> lot<00:05:34.866> of<00:05:34.947> work<00:05:35.043> to<00:05:35.139> write<00:05:35.299> a<00:05:35.347> book,<00:05:35.459> as<00:05:35.588> you<00:05:35.652> might<00:05:35.780> imagine.

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So<00:05:37.671> sort<00:05:37.847> of<00:05:37.927> in<00:05:38.007> parallel,<00:05:39.530> my<00:05:39.674> job<00:05:39.866> at<00:05:39.930> Techstars,<00:05:41.052> I<00:05:41.116> had<00:05:41.212> been<00:05:41.757> running<00:05:42.078> this<00:05:42.254> process,<00:05:42.879> which<00:05:43.039> is<00:05:43.199> the<00:05:43.295> Levers<00:05:43.680> process,<00:05:44.177> with<00:05:44.337> my<00:05:44.481> founders<00:05:45.058> and<00:05:45.138> sort<00:05:45.379> of<00:05:45.523> refining<00:05:46.180> it<00:05:46.260> as<00:05:46.420> we<00:05:46.500> go.

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And<00:05:46.917> my<00:05:47.125> co-author,<00:05:47.702> my<00:05:47.798> main<00:05:48.087> co-author<00:05:48.984> Trevor,<00:05:49.769> uh,<00:05:49.866> at<00:05:49.962> the<00:05:50.106> time<00:05:51.388> worked<00:05:51.788> with,<00:05:52.333> um,<00:05:52.894> worked<00:05:53.135> with<00:05:53.295> me<00:05:55.140> at<00:05:55.300> Techstars.

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And<00:05:56.455> so<00:05:56.600> we<00:05:56.680> were<00:05:56.841> doing<00:05:57.081> this<00:05:57.242> together,<00:05:57.787> and,<00:05:58.269> uh,<00:05:58.429> he<00:05:58.590> had—<00:05:58.927> he,<00:05:59.248> he's<00:05:59.553> also—<00:05:59.954> he's<00:06:00.114> written<00:06:00.211> a<00:06:00.275> couple<00:06:00.531> of<00:06:00.612> books,<00:06:00.836> but<00:06:00.917> he's<00:06:01.013> been<00:06:01.109> the<00:06:01.238> ghost<00:06:01.960> author.

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Uh,<00:06:03.083> one<00:06:03.195> of<00:06:03.324> them<00:06:03.500> is<00:06:03.645> called<00:06:03.966> Get<00:06:04.142> Back,<00:06:04.463> which<00:06:04.559> is<00:06:04.704> also<00:06:04.944> a<00:06:05.025> bestseller.

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And<00:06:06.405> he,<00:06:06.549> but<00:06:06.629> he,<00:06:06.934> he<00:06:07.111> wrote<00:06:07.336> that<00:06:07.512> book<00:06:07.753> even<00:06:07.913> though<00:06:08.058> he's<00:06:08.298> not<00:06:08.571> accredited<00:06:09.117> with<00:06:09.277> it.

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And<00:06:09.759> so<00:06:10.160> we<00:06:10.256> just<00:06:10.417> got<00:06:10.561> to<00:06:10.657> talking,<00:06:11.123> and<00:06:11.588> I<00:06:11.620> said<00:06:11.845> to<00:06:11.909> him<00:06:12.005> one<00:06:12.086> day,<00:06:12.246> should<00:06:12.487> we<00:06:12.631> turn<00:06:12.888> this<00:06:13.113> into<00:06:13.369> a<00:06:13.450> book?

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It<00:06:13.690> might<00:06:13.851> be<00:06:13.931> kind<00:06:14.156> of<00:06:14.316> fun.

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And<00:06:15.359> his—<00:06:15.680> he<00:06:15.760> had<00:06:15.857> the<00:06:15.937> best<00:06:16.178> response,<00:06:16.723> which<00:06:16.916> is,<00:06:16.980> sure,<00:06:17.606> I<00:06:17.638> don't<00:06:17.847> want<00:06:17.927> to<00:06:17.959> write<00:06:18.119> a<00:06:18.264> full<00:06:18.424> book.

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Do<00:06:18.809> you<00:06:18.906> want<00:06:19.066> to<00:06:19.130> write<00:06:19.291> another<00:06:19.467> full<00:06:19.692> book?

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And<00:06:19.933> I'm<00:06:19.997> like,<00:06:20.206> no.

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However,<00:06:22.358> the—<00:06:22.582> for<00:06:23.241> the<00:06:23.562> process<00:06:24.044> we<00:06:24.109> were<00:06:24.205> putting<00:06:24.446> together,<00:06:25.233> we<00:06:25.330> were<00:06:25.635> already<00:06:26.117> using<00:06:26.615> Troy<00:06:27.322> and<00:06:27.482> Cody's<00:06:28.382> workshops<00:06:28.961> as<00:06:29.169> part<00:06:29.330> of<00:06:29.426> it<00:06:29.507> because<00:06:29.812> they—<00:06:30.149> it<00:06:30.310> fit<00:06:30.567> in<00:06:30.712> with<00:06:30.872> what<00:06:31.097> we<00:06:31.178> were<00:06:31.274> trying<00:06:31.740> to<00:06:31.836> do<00:06:31.997> so<00:06:32.318> well.

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So<00:06:32.784> it<00:06:33.346> was<00:06:33.523> already<00:06:33.764> part<00:06:33.941> of<00:06:33.989> the<00:06:34.085> process.

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And<00:06:35.949> so,<00:06:36.319> uh,<00:06:36.560> we<00:06:36.656> called<00:06:36.961> both<00:06:37.138> of<00:06:37.202> those<00:06:37.379> guys<00:06:37.684> up<00:06:37.845> who<00:06:37.941> are—<00:06:38.246> who<00:06:38.359> are<00:06:38.504> good<00:06:38.664> friends<00:06:39.291> and<00:06:39.644> said,<00:06:39.949> hey,<00:06:40.431> you<00:06:40.512> know,<00:06:40.656> we<00:06:40.897> have<00:06:41.058> this<00:06:41.219> idea<00:06:42.263> of<00:06:42.520> putting,<00:06:43.227> you<00:06:43.259> know,<00:06:43.420> this<00:06:43.564> process<00:06:44.046> together<00:06:44.448> in<00:06:44.544> a<00:06:44.689> book,<00:06:45.637> uh,<00:06:46.279> but<00:06:46.440> the<00:06:46.520> only<00:06:46.697> way<00:06:46.729> we're<00:06:46.874> going<00:06:47.002> to<00:06:47.083> do<00:06:47.195> that<00:06:47.404> is<00:06:47.565> if<00:06:48.206> each<00:06:48.302> one<00:06:48.447> of<00:06:48.543> us<00:06:48.639> are<00:06:48.767> writing<00:06:49.184> the<00:06:49.328> chapters<00:06:49.809> that<00:06:49.986> we,<00:06:50.306> that<00:06:50.547> we<00:06:50.627> are<00:06:50.771> experts<00:06:51.172> in<00:06:51.268> so<00:06:51.428> that<00:06:51.605> none<00:06:51.765> of<00:06:51.893> us<00:06:52.005> are<00:06:52.069> taking<00:06:52.406> on<00:06:52.534> the<00:06:52.614> whole<00:06:52.791> thing.

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And<00:06:53.111> by<00:06:53.272> the<00:06:53.416> way,<00:06:53.576> we<00:06:53.736> want<00:06:53.817> to<00:06:53.849> self-publish<00:06:54.570> it,<00:06:54.698> which<00:06:54.875> means<00:06:55.179> that<00:06:56.013> it's<00:06:56.301> not<00:06:56.429> necessarily<00:06:56.782> more<00:06:56.878> or<00:06:57.039> less<00:06:57.343> work,<00:06:57.519> but<00:06:57.616> it's<00:06:57.760> different<00:06:58.145> work.

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Um,<00:06:59.026> both<00:06:59.219> of<00:06:59.347> them<00:06:59.587> jumped<00:06:59.780> at<00:06:59.828> the<00:07:00.004> opportunity.

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They<00:07:00.565> were<00:07:00.645> both<00:07:00.886> excited<00:07:01.270> to<00:07:01.351> do<00:07:01.527> it.

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And<00:07:01.751> I<00:07:01.767> think,<00:07:01.992> you<00:07:02.072> know,<00:07:02.248> getting<00:07:02.489> to<00:07:02.633> do<00:07:02.729> something<00:07:03.034> like<00:07:03.210> that<00:07:03.434> with<00:07:03.531> your<00:07:03.675> friends<00:07:04.172> that,<00:07:04.813> you<00:07:04.893> know,<00:07:05.053> we're<00:07:05.294> essentially<00:07:05.759> all<00:07:05.855> taking<00:07:06.175> on<00:07:06.256> 25%<00:07:06.961> of<00:07:07.137> the<00:07:07.233> load,<00:07:08.243> um,<00:07:08.580> makes<00:07:08.756> it<00:07:08.884> a<00:07:08.900> lot<00:07:09.125> easier.

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And<00:07:09.606> it<00:07:09.638> helps<00:07:09.878> that,<00:07:10.167> you<00:07:10.199> know,<00:07:10.343> both<00:07:10.664> Trevor<00:07:11.225> and<00:07:11.305> I<00:07:11.449> had<00:07:11.545> a<00:07:11.625> little<00:07:11.786> bit<00:07:11.930> of<00:07:12.010> experience<00:07:12.587> and<00:07:12.732> different<00:07:12.988> experiences<00:07:13.533> doing<00:07:13.773> it,<00:07:13.822> so<00:07:13.934> we<00:07:13.998> were<00:07:14.030> able<00:07:14.174> to<00:07:14.270> bring<00:07:15.313> you<00:07:15.409> know,<00:07:15.538> something<00:07:15.939> else<00:07:16.035> to<00:07:16.180> the<00:07:16.276> table.

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And<00:07:17.561> so<00:07:17.962> that<00:07:18.203> one<00:07:18.379> similarly,<00:07:19.391> you<00:07:19.471> know,<00:07:19.712> came,<00:07:20.755> came<00:07:21.012> together.

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I<00:07:21.735> mean,<00:07:22.297> you<00:07:22.794> know,<00:07:22.939> we<00:07:23.035> sit<00:07:23.260> down,<00:07:23.501> sat<00:07:23.742> down<00:07:24.127> separately<00:07:24.625> and<00:07:24.705> brought<00:07:24.946> together<00:07:25.363> the<00:07:25.492> first<00:07:25.813> draft<00:07:26.166> of<00:07:26.230> that,<00:07:26.455> I<00:07:26.551> think,<00:07:26.728> in<00:07:26.792> like<00:07:26.969> 3<00:07:27.274> weeks<00:07:27.514> or<00:07:27.659> something.

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Um,<00:07:28.959> it<00:07:29.040> takes<00:07:29.200> a<00:07:29.264> lot<00:07:29.425> longer<00:07:29.601> than<00:07:29.666> that<00:07:29.762> to<00:07:29.842> actually<00:07:30.244> go<00:07:30.420> through<00:07:30.629> the<00:07:30.806> iterations<00:07:31.432> and<00:07:31.512> get<00:07:31.608> it<00:07:31.673> published,<00:07:32.090> but,<00:07:32.475> you<00:07:32.507> know,<00:07:32.572> in<00:07:32.652> terms<00:07:32.909> of<00:07:33.037> getting<00:07:33.519> the<00:07:33.599> whole<00:07:33.856> first<00:07:34.081> draft<00:07:34.321> done.

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And,<00:07:35.140> you<00:07:35.172> know,<00:07:35.285> what<00:07:35.381> I've<00:07:35.526> come<00:07:35.702> to<00:07:35.863> learn<00:07:36.649> sort<00:07:36.826> of<00:07:37.051> after<00:07:37.324> the<00:07:37.452> fact<00:07:37.870> is<00:07:38.030> that<00:07:38.431> both<00:07:38.688> of<00:07:38.817> those<00:07:39.074> were<00:07:39.218> written,<00:07:39.796> relatively<00:07:40.358> speaking,<00:07:41.000> very<00:07:41.321> fast.

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When,<00:07:42.108> you<00:07:42.140> know,<00:07:42.268> I<00:07:42.301> know<00:07:42.509> a<00:07:42.590> lot<00:07:42.702> of<00:07:42.927> other<00:07:43.087> people<00:07:43.408> who<00:07:43.457> have<00:07:43.729> like<00:07:43.906> since<00:07:44.340> you<00:07:44.404> know,<00:07:44.517> come<00:07:44.613> to<00:07:44.678> me<00:07:44.871> and<00:07:44.935> say,<00:07:44.984> hey,<00:07:45.032> I'm<00:07:45.161> writing<00:07:45.338> a<00:07:45.418> book<00:07:45.724> and<00:07:46.143> here's<00:07:46.320> the<00:07:46.384> way<00:07:46.417> I'm<00:07:46.642> approaching<00:07:47.109> it.

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And<00:07:47.286> it<00:07:47.351> takes,<00:07:47.898> you<00:07:47.978> know,<00:07:48.317> months<00:07:48.558> and<00:07:48.639> months<00:07:48.880> and<00:07:48.961> months,<00:07:49.589> you<00:07:49.621> know,<00:07:49.927> I<00:07:50.023> think<00:07:50.490> for<00:07:50.571> a<00:07:50.635> lot<00:07:50.748> of<00:07:50.812> different<00:07:51.118> reasons.

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But<00:07:51.634> in<00:07:51.682> our<00:07:51.778> case,<00:07:52.326> you<00:07:52.358> know,<00:07:52.487> we<00:07:52.567> were<00:07:52.664> able<00:07:52.825> to<00:07:53.308> sort<00:07:53.469> of<00:07:53.534> get<00:07:53.614> it<00:07:53.711> out<00:07:53.840> pretty<00:07:54.018> quickly.

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All<00:07:55.286> right,<00:07:55.416> I'm<00:07:55.530> going<00:07:55.611> to<00:07:55.660> go<00:07:55.822> through<00:07:56.001> the<00:07:56.147> chat<00:07:56.553> because<00:07:56.716> it<00:07:56.797> looks<00:07:56.960> like<00:07:57.187> we<00:07:57.268> lost,<00:07:58.081> uh,<00:07:59.056> Clint<00:07:59.381> here.

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Um,<00:08:01.331> I<00:08:01.475> think<00:08:01.620> we<00:08:01.717> must<00:08:02.070> say<00:08:02.263> Clint.

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Techstars<00:08:03.324> Austin<00:08:03.549> is<00:08:03.726> focused<00:08:04.112> on<00:08:04.385> sales<00:08:04.851> tech<00:08:05.012> startups.

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Ah,<00:08:07.005> uh,<00:08:07.102> Valentin,<00:08:07.777> thank<00:08:08.066> you,<00:08:08.308> good<00:08:08.468> question.

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Techstars<00:08:09.340> Austin<00:08:10.240> is<00:08:10.354> not<00:08:10.910> focused<00:08:11.467> only<00:08:11.712> on<00:08:11.876> sales<00:08:12.236> tech<00:08:12.400> startups<00:08:13.103> at<00:08:13.365> all.

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I've<00:08:14.784> invested<00:08:15.329> in,<00:08:15.971> um,<00:08:17.574> pretty<00:08:17.815> much<00:08:18.056> any<00:08:18.216> kind<00:08:18.393> of<00:08:18.457> company<00:08:18.777> you<00:08:18.874> can<00:08:19.034> imagine,<00:08:19.820> with<00:08:19.996> the<00:08:20.141> exception<00:08:20.702> of<00:08:21.745> biotech<00:08:22.226> companies.

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I<00:08:22.884> think<00:08:23.140> I've<00:08:23.686> invested<00:08:24.103> in<00:08:24.183> CPG<00:08:24.712> companies,<00:08:26.557> definitely<00:08:26.894> B2B<00:08:27.150> SaaS<00:08:27.535> companies,<00:08:28.883> um,<00:08:29.380> apparel<00:08:29.781> companies,<00:08:30.487> food<00:08:30.663> tech<00:08:30.904> companies.

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So<00:08:32.107> the,<00:08:32.411> the<00:08:32.508> thing<00:08:33.711> that,<00:08:34.352> um,<00:08:34.994> we<00:08:35.234> are<00:08:35.395> focused<00:08:35.860> on<00:08:36.036> in<00:08:36.197> Techstars<00:08:36.662> Austin<00:08:37.464> is<00:08:37.961> really,<00:08:38.763> um,<00:08:39.148> how<00:08:39.324> do<00:08:39.469> we<00:08:39.565> find<00:08:40.046> entrepreneurs<00:08:40.912> that<00:08:41.089> we<00:08:41.329> believe<00:08:42.628> are<00:08:44.121> mission-driven<00:08:45.405> and<00:08:46.143> have<00:08:46.448> the<00:08:46.544> ability<00:08:47.010> to<00:08:47.090> build<00:08:47.363> a<00:08:47.427> meaningful<00:08:47.973> business.

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And<00:08:48.390> by<00:08:48.486> mission-driven,<00:08:49.818> it's<00:08:50.059> great<00:08:50.878> when<00:08:51.439> they<00:08:51.600> are<00:08:51.744> doing<00:08:51.937> something<00:08:52.306> that<00:08:52.418> impacts<00:08:52.884> the<00:08:53.028> world<00:08:53.285> in<00:08:53.365> a<00:08:53.446> positive<00:08:53.911> way.

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And<00:08:54.184> certainly<00:08:54.569> we<00:08:54.714> don't<00:08:54.986> invest<00:08:55.275> in<00:08:55.356> things<00:08:55.596> that<00:08:55.693> are<00:08:55.757> impacting<00:08:56.238> the<00:08:56.319> world<00:08:56.511> in<00:08:56.591> a<00:08:56.656> negative<00:08:57.137> way.

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But<00:08:58.084> when<00:08:58.196> I<00:08:58.277> say<00:08:58.437> mission-driven,<00:08:58.983> I<00:08:59.063> don't—<00:08:59.224> it<00:08:59.304> doesn't<00:08:59.609> have<00:08:59.785> to<00:08:59.866> necessarily<00:09:00.508> be<00:09:00.652> about<00:09:01.246> impacting<00:09:01.711> the<00:09:01.936> world<00:09:02.273> in<00:09:02.353> a<00:09:02.434> positive<00:09:02.899> way,<00:09:03.637> but<00:09:03.798> it's<00:09:04.023> that<00:09:04.440> deep<00:09:04.681> down<00:09:05.082> in<00:09:05.162> that<00:09:05.387> entrepreneur's<00:09:05.981> soul,<00:09:06.928> there's<00:09:07.168> nothing<00:09:07.554> on<00:09:07.810> earth<00:09:07.971> that<00:09:08.131> they<00:09:08.212> should<00:09:08.452> be<00:09:08.533> doing<00:09:08.918> other<00:09:09.094> than<00:09:09.319> building<00:09:09.576> the<00:09:09.736> business<00:09:10.057> that<00:09:10.218> they<00:09:10.378> are<00:09:10.523> building.

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And<00:09:12.448> that,<00:09:12.848> and,<00:09:13.169> you<00:09:13.201> know,<00:09:13.329> our<00:09:13.489> belief<00:09:13.970> that<00:09:14.370> they<00:09:14.547> are<00:09:14.691> actually<00:09:14.947> capable<00:09:15.444> of<00:09:15.668> doing<00:09:15.909> that.

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And<00:09:16.534> so<00:09:18.152> that's<00:09:18.697> 80<00:09:18.857> to<00:09:18.953> 90%<00:09:19.354> of<00:09:19.434> our<00:09:19.578> decision<00:09:19.979> is<00:09:20.075> based<00:09:20.395> on<00:09:20.475> that.

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And,<00:09:22.062> um,<00:09:22.719> what<00:09:22.943> the,<00:09:23.199> what<00:09:23.360> the<00:09:23.584> entrepreneur<00:09:24.000> is<00:09:24.305> actually<00:09:24.802> doing,<00:09:25.282> we<00:09:25.362> sort<00:09:25.587> of<00:09:25.763> actually<00:09:26.068> even<00:09:26.244> get<00:09:26.484> to<00:09:27.221> a<00:09:27.365> little<00:09:27.542> bit<00:09:27.766> later,<00:09:28.711> uh,<00:09:29.032> later<00:09:29.288> in<00:09:29.432> our,<00:09:29.993> our<00:09:30.234> vetting<00:09:30.554> process<00:09:31.115> because<00:09:31.371> it<00:09:31.467> is<00:09:31.916> frankly<00:09:32.253> less<00:09:32.493> important.

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And,<00:09:33.518> and<00:09:33.695> the<00:09:33.839> reason<00:09:34.416> that<00:09:34.592> we<00:09:34.720> think<00:09:34.896> about<00:09:35.121> it<00:09:35.217> this<00:09:35.441> way<00:09:35.698> is<00:09:35.922> that<00:09:36.082> we<00:09:36.419> are<00:09:36.659> investing<00:09:37.156> so<00:09:37.701> early<00:09:38.647> that<00:09:38.823> the<00:09:39.048> likelihood<00:09:39.867> that<00:09:40.092> the,<00:09:40.830> the<00:09:41.135> product<00:09:42.436> that<00:09:42.741> the<00:09:43.078> entrepreneur<00:09:43.801> is<00:09:43.961> building<00:09:44.347> when<00:09:44.427> we're<00:09:44.523> investing,<00:09:45.005> the<00:09:45.085> likelihood<00:09:45.551> that<00:09:45.663> it<00:09:45.744> is<00:09:45.952> the<00:09:46.033> same<00:09:46.450> thing—<00:09:46.707> in<00:09:46.852> my<00:09:46.996> experience<00:09:47.574> of,<00:09:47.671> I'm<00:09:47.895> invested<00:09:48.297> in,<00:09:48.618> you<00:09:48.650> know,<00:09:48.778> close<00:09:48.955> to<00:09:49.100> 200<00:09:49.421> companies<00:09:49.902> now,<00:09:51.187> I<00:09:51.203> would<00:09:51.364> say<00:09:51.653> like<00:09:51.990> less<00:09:52.215> than<00:09:52.375> 5%<00:09:52.728> start<00:09:53.836> and<00:09:53.981> end<00:09:54.173> in<00:09:54.238> the<00:09:54.318> same<00:09:54.559> place.

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And<00:09:55.105> so<00:09:55.586> knowing<00:09:55.924> that—.

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Hey,<00:09:57.224> I'm<00:09:57.369> back—.

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That,<00:09:58.332> no,<00:09:58.669> knowing<00:09:59.055> that,<00:09:59.520> um,<00:10:00.725> betting<00:10:01.046> on<00:10:01.126> an<00:10:01.222> idea<00:10:01.929> at<00:10:02.105> our<00:10:02.266> stage<00:10:02.908> just<00:10:03.149> doesn't<00:10:03.534> work.

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Because<00:10:05.090> inevitably<00:10:05.555> the<00:10:05.699> idea<00:10:06.116> will<00:10:06.356> not<00:10:06.677> be<00:10:06.837> the<00:10:06.933> same<00:10:07.334> thing<00:10:07.623> at<00:10:07.719> some<00:10:07.959> point<00:10:08.200> in<00:10:08.280> the<00:10:08.360> future.

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And<00:10:09.306> so<00:10:09.803> by<00:10:11.021> finding<00:10:11.486> people<00:10:11.791> that<00:10:11.967> we<00:10:12.127> believe<00:10:12.833> are<00:10:13.506> obsessed<00:10:14.051> with<00:10:14.756> the,<00:10:15.093> the<00:10:15.718> overall<00:10:16.055> market<00:10:16.456> that<00:10:16.600> they're<00:10:16.776> trying<00:10:17.097> to<00:10:17.498> influence<00:10:18.684> and<00:10:18.940> that<00:10:19.261> we<00:10:19.421> believe<00:10:19.758> have<00:10:19.902> the<00:10:19.982> ability<00:10:20.255> to<00:10:20.463> build<00:10:20.640> a<00:10:20.704> meaningful<00:10:21.105> business,<00:10:21.810> um,<00:10:22.772> you<00:10:22.804> know,<00:10:23.974> the<00:10:24.054> data<00:10:24.311> suggests<00:10:24.872> that<00:10:25.032> I'm<00:10:25.273> right,<00:10:25.593> but<00:10:25.834> my<00:10:26.379> philosophy<00:10:26.940> has<00:10:27.116> been,<00:10:27.276> or<00:10:27.357> my<00:10:27.517> theory<00:10:27.741> has<00:10:27.918> been,<00:10:28.078> that<00:10:28.238> we'll<00:10:28.398> get<00:10:28.623> better<00:10:28.863> outcomes<00:10:29.280> over<00:10:29.457> time.

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Hey,<00:10:33.075> I,<00:10:33.301> I<00:10:33.494> missed<00:10:33.736> some<00:10:33.961> of<00:10:34.139> that.

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Apologies<00:10:35.234> on<00:10:35.573> my<00:10:35.814> end.

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Like,<00:10:36.362> uh,<00:10:36.765> I<00:10:37.104> just<00:10:37.329> like<00:10:38.232> went<00:10:38.393> down.

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I<00:10:38.715> had<00:10:38.876> to<00:10:38.957> restart<00:10:39.424> Chrome.

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No<00:10:41.421> worries.

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For<00:10:41.942> a<00:10:42.007> second<00:10:42.349> there,<00:10:42.576> I<00:10:42.625> was<00:10:42.739> like,<00:10:42.983> wait,<00:10:43.227> I<00:10:43.244> say,<00:10:43.455> what<00:10:43.553> are<00:10:43.618> we<00:10:43.699> doing?

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And<00:10:43.960> then<00:10:44.057> I<00:10:44.122> realized<00:10:44.448> we,<00:10:46.484> we're,<00:10:46.807> we,<00:10:47.276> us<00:10:47.389> in<00:10:47.470> the<00:10:47.616> audience,<00:10:47.939> we<00:10:48.036> got<00:10:48.262> this<00:10:48.408> covered.

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Yeah,<00:10:49.734> sweet.

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I,<00:10:50.510> I'd<00:10:50.672> love<00:10:50.850> to—<00:10:51.076> and<00:10:51.238> I<00:10:51.286> don't<00:10:51.400> know<00:10:51.513> if<00:10:51.577> you<00:10:51.658> touched<00:10:51.917> on<00:10:52.046> this<00:10:52.208> yet—<00:10:52.531> I'd<00:10:52.629> love<00:10:52.936> for<00:10:53.097> you<00:10:53.275> to,<00:10:53.825> uh,<00:10:54.246> kind<00:10:54.407> of<00:10:54.488> give<00:10:54.585> us<00:10:54.731> a<00:10:54.795> sense<00:10:55.054> for<00:10:55.216> the<00:10:55.297> state<00:10:56.707> of<00:10:57.364> accelerators<00:10:58.871> and,<00:10:59.368> you<00:10:59.512> know,<00:10:59.752> and,<00:11:00.634> you<00:11:00.666> know,<00:11:00.971> incubators<00:11:01.756> and<00:11:01.916> things<00:11:02.237> like<00:11:02.493> Techstars.

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In<00:11:03.792> my<00:11:03.952> mind,<00:11:04.337> and<00:11:04.481> probably<00:11:04.978> in<00:11:05.122> most<00:11:05.379> people's<00:11:05.764> mind,<00:11:06.100> there's<00:11:06.485> two<00:11:07.767> really,<00:11:08.168> really<00:11:08.425> great<00:11:08.906> brands:<00:11:09.611> Techstars<00:11:10.284> and<00:11:10.412> Y<00:11:10.589> Combinator.

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Um,<00:11:12.496> why<00:11:12.737> haven't<00:11:12.993> more<00:11:13.234> been<00:11:13.378> successful?

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What's<00:11:14.276> your<00:11:14.516> thought<00:11:14.901> on<00:11:15.061> like<00:11:15.237> the<00:11:15.334> state<00:11:15.654> of<00:11:15.734> accelerators,<00:11:16.504> or<00:11:16.664> am<00:11:16.824> I<00:11:16.921> just<00:11:17.065> completely<00:11:17.466> wrong<00:11:17.722> and<00:11:17.802> there<00:11:17.963> are<00:11:18.123> others?

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Um,<00:11:19.726> there<00:11:19.886> probably<00:11:20.752> are<00:11:21.313> others<00:11:21.970> that<00:11:22.275> are<00:11:23.992> have<00:11:24.136> been<00:11:24.361> successful.

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And<00:11:25.260> I<00:11:25.357> think<00:11:25.662> it,<00:11:25.806> you<00:11:25.903> know,<00:11:26.063> maybe<00:11:26.449> has<00:11:26.577> to<00:11:26.786> do<00:11:26.946> with<00:11:27.107> how<00:11:27.348> they,<00:11:28.697> how<00:11:28.873> they<00:11:29.515> talk<00:11:29.772> about<00:11:30.013> themselves,<00:11:30.623> how<00:11:30.720> they<00:11:30.944> market<00:11:31.282> themselves,<00:11:31.747> who<00:11:31.844> they<00:11:31.940> market<00:11:32.245> themselves<00:11:32.727> to.

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Um,<00:11:34.573> you<00:11:34.654> know,<00:11:35.039> I,<00:11:35.280> I<00:11:35.376> would<00:11:35.537> say<00:11:37.207> my,<00:11:37.849> my,<00:11:38.668> my<00:11:38.892> mode<00:11:39.149> of<00:11:39.294> operation<00:11:39.952> is<00:11:40.418> I,<00:11:41.558> when<00:11:41.734> I'm<00:11:41.895> in<00:11:42.023> a<00:11:42.184> role<00:11:42.280> like<00:11:42.602> I<00:11:42.666> am<00:11:42.907> in<00:11:43.083> now,<00:11:44.111> where,<00:11:45.074> um,<00:11:46.375> who<00:11:46.616> the<00:11:46.776> competition<00:11:48.366> is<00:11:48.943> gonna<00:11:49.248> competition<00:11:49.825> sort<00:11:50.001> of<00:11:50.210> loosely,<00:11:51.012> right?

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And<00:11:51.573> talk<00:11:51.845> about<00:11:52.054> how<00:11:52.214> I,<00:11:52.455> how<00:11:52.631> I<00:11:52.856> actually<00:11:53.112> think<00:11:53.257> about<00:11:53.417> competition<00:11:53.978> on<00:11:54.074> a<00:11:54.154> day-to-day<00:11:54.716> basis.

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But<00:11:55.341> like,<00:11:56.063> I<00:11:56.095> don't<00:11:56.351> need<00:11:56.544> to<00:11:56.624> think<00:11:56.881> about<00:11:57.201> it<00:11:58.067> because<00:11:58.548> I<00:11:58.644> am<00:11:59.109> selling<00:11:59.446> myself.

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I'm<00:12:00.152> not,<00:12:00.585> you<00:12:00.649> know,<00:12:00.809> like<00:12:01.370> Techstars<00:12:01.851> may<00:12:02.156> or<00:12:02.236> may<00:12:02.333> not<00:12:02.573> be<00:12:02.653> the<00:12:02.878> entry<00:12:03.134> point<00:12:03.535> to<00:12:03.696> talk<00:12:03.936> to<00:12:04.032> me,<00:12:04.257> but<00:12:04.433> at<00:12:04.561> the<00:12:04.642> end<00:12:04.738> of<00:12:04.802> the<00:12:04.898> day,<00:12:05.684> I<00:12:05.780> look<00:12:06.005> at<00:12:06.117> it<00:12:06.245> as<00:12:07.207> mutually,<00:12:08.089> do<00:12:08.250> we<00:12:08.346> believe<00:12:08.747> that<00:12:08.907> there<00:12:09.003> is<00:12:09.164> a<00:12:09.228> relationship<00:12:09.933> here<00:12:10.126> that<00:12:10.350> will,<00:12:10.895> um,<00:12:12.258> help<00:12:12.499> build<00:12:12.691> a<00:12:12.756> stronger<00:12:13.156> business<00:12:13.541> so<00:12:13.702> that<00:12:13.798> we<00:12:13.958> can<00:12:14.103> have<00:12:14.199> stronger<00:12:14.600> returns?

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So<00:12:16.029> I<00:12:16.110> do<00:12:16.273> think<00:12:16.435> there<00:12:16.581> probably<00:12:17.068> are<00:12:17.474> other<00:12:17.653> accelerators<00:12:18.286> out<00:12:18.383> there,<00:12:18.465> but<00:12:18.546> I<00:12:18.708> frankly<00:12:19.033> don't<00:12:19.293> think<00:12:19.455> about<00:12:19.910> it.

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And<00:12:20.169> even,<00:12:20.397> I<00:12:20.413> don't<00:12:20.640> even<00:12:20.803> think<00:12:20.916> about<00:12:21.306> YC<00:12:22.264> like<00:12:22.442> ever.

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I<00:12:23.665> would<00:12:23.826> say<00:12:24.567> if<00:12:24.970> there<00:12:25.115> is<00:12:25.276> a<00:12:25.357> competitor<00:12:25.937> that<00:12:26.098> I<00:12:26.323> actually<00:12:26.662> think<00:12:26.839> about<00:12:27.451> often<00:12:28.273> or<00:12:28.982> at<00:12:29.223> all,<00:12:30.109> it<00:12:30.190> is<00:12:31.334> the<00:12:32.398> seed<00:12:32.932> stage<00:12:34.729> venture<00:12:35.198> firm<00:12:36.736> who<00:12:37.384> has<00:12:37.643> a<00:12:37.885> bias<00:12:38.452> against<00:12:38.857> accelerators<00:12:40.378> and<00:12:40.475> tries<00:12:40.880> to<00:12:41.010> convince<00:12:41.711> their<00:12:43.988> their<00:12:44.181> investment<00:12:45.543> CEO<00:12:46.954> that<00:12:47.836> they<00:12:48.092> can<00:12:48.477> do<00:12:48.669> the<00:12:48.749> same<00:12:49.358> thing<00:12:49.599> as<00:12:49.759> an<00:12:49.855> individual<00:12:50.657> that<00:12:51.058> someone<00:12:51.378> like<00:12:51.619> Techstars<00:12:52.180> or<00:12:52.677> YC<00:12:52.821> could<00:12:53.061> do<00:12:53.703> with<00:12:53.863> the<00:12:54.023> massive<00:12:54.408> networks<00:12:54.825> we<00:12:54.969> have,<00:12:55.209> which<00:12:55.386> is<00:12:55.851> frankly<00:12:56.267> just<00:12:56.508> a<00:12:56.524> naive<00:12:56.973> position.

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But<00:12:58.031> I<00:12:58.175> do,<00:12:58.736> I<00:12:58.816> run<00:12:58.977> into<00:12:59.233> that,<00:13:00.355> um,<00:13:00.916> as<00:13:01.301> a,<00:13:01.782> as<00:13:01.894> a<00:13:02.118> real<00:13:02.423> blocker<00:13:02.920> to<00:13:03.160> a<00:13:03.241> good<00:13:03.401> investment<00:13:04.042> way<00:13:04.202> more<00:13:04.427> often<00:13:04.747> than<00:13:04.844> anything<00:13:05.228> else.

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And<00:13:06.591> in<00:13:06.671> that,<00:13:06.912> and<00:13:07.008> not<00:13:07.168> that<00:13:07.328> often,<00:13:07.569> by<00:13:07.729> the<00:13:07.809> way,<00:13:08.130> but<00:13:09.492> what<00:13:09.637> was<00:13:09.797> the<00:13:09.893> thing<00:13:10.037> that<00:13:10.134> popped<00:13:10.390> up<00:13:10.518> most?

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Like,<00:13:11.240> yeah,<00:13:11.656> I<00:13:11.801> run<00:13:11.913> into<00:13:12.057> companies<00:13:12.458> that<00:13:12.554> are<00:13:12.682> looking<00:13:12.923> at<00:13:13.003> us<00:13:13.179> and<00:13:13.275> YC,<00:13:13.724> and<00:13:13.821> my<00:13:13.965> conversation<00:13:14.350> conversation<00:13:14.606> with<00:13:14.702> them<00:13:14.927> is,<00:13:15.648> help<00:13:15.824> me<00:13:15.921> understand<00:13:16.866> what<00:13:17.267> you<00:13:17.732> are<00:13:18.053> looking<00:13:18.373> for,<00:13:18.790> and<00:13:18.870> I<00:13:19.031> will<00:13:19.175> help<00:13:19.415> you<00:13:19.511> figure<00:13:19.816> out<00:13:19.992> if<00:13:20.137> we<00:13:20.233> are<00:13:20.313> a<00:13:20.473> better<00:13:20.778> place<00:13:21.018> to<00:13:21.115> go<00:13:21.355> or<00:13:21.499> YC<00:13:21.740> is<00:13:21.852> a<00:13:21.916> better<00:13:22.076> place<00:13:22.269> to<00:13:22.349> go,<00:13:22.477> because<00:13:22.638> we're<00:13:22.718> not<00:13:22.958> the<00:13:23.022> same<00:13:23.519> either.

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Yeah.

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Oh<00:13:25.106> yeah,<00:13:25.411> yeah,<00:13:25.587> yeah,<00:13:25.828> for<00:13:25.924> sure.

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And<00:13:26.453> there's<00:13:26.725> been<00:13:26.886> cases<00:13:27.206> where<00:13:27.303> like,<00:13:27.463> hey,<00:13:27.607> I<00:13:27.767> love<00:13:27.992> you<00:13:28.088> as<00:13:28.248> a<00:13:28.312> company<00:13:28.729> and<00:13:28.874> we<00:13:28.954> would<00:13:29.050> be<00:13:29.130> a<00:13:29.274> great<00:13:29.451> investment,<00:13:29.996> but<00:13:30.076> I'm<00:13:30.252> not<00:13:30.477> actually<00:13:30.813> the<00:13:30.958> best<00:13:31.134> place<00:13:31.455> for<00:13:31.535> you.

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You<00:13:31.839> should<00:13:32.016> go<00:13:32.176> there.

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And<00:13:32.977> then<00:13:33.122> there's<00:13:33.298> other<00:13:33.539> times<00:13:33.859> when<00:13:33.939> I'm<00:13:34.084> like,<00:13:34.244> I<00:13:34.404> think<00:13:34.516> I'm<00:13:34.725> the<00:13:34.821> best<00:13:35.045> place,<00:13:35.382> but<00:13:35.526> here,<00:13:36.087> go<00:13:36.248> talk<00:13:36.504> to<00:13:36.649> these,<00:13:37.370> you<00:13:37.402> know,<00:13:37.546> founders,<00:13:38.604> some<00:13:38.829> of<00:13:38.989> which<00:13:39.230> have<00:13:39.470> done<00:13:39.694> both.

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Some<00:13:40.528> of<00:13:40.576> which<00:13:41.073> Techstars,<00:13:41.570> some<00:13:41.714> of<00:13:41.794> which<00:13:41.954> maybe<00:13:42.195> haven't<00:13:42.451> done<00:13:42.595> Techstars<00:13:42.980> that<00:13:43.076> I<00:13:43.156> know<00:13:43.397> have<00:13:43.509> done<00:13:43.877> YC,<00:13:43.958> and<00:13:44.102> like<00:13:44.422> go<00:13:44.519> tell<00:13:44.759> them<00:13:44.903> what<00:13:45.079> you're<00:13:45.240> looking<00:13:45.624> for<00:13:45.817> and<00:13:45.945> then<00:13:46.281> let<00:13:46.442> them<00:13:46.602> tell<00:13:46.826> you,<00:13:47.483> you<00:13:47.515> know.

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I'd<00:13:48.766> love<00:13:48.910> to<00:13:48.942> go<00:13:49.086> deeper<00:13:49.326> on<00:13:49.471> how<00:13:49.711> you<00:13:49.791> think<00:13:49.984> about<00:13:50.288> competition.

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I<00:13:50.849> think<00:13:50.993> that's<00:13:51.169> pretty<00:13:51.490> interesting,<00:13:52.532> particularly<00:13:53.012> like<00:13:53.333> as<00:13:53.477> you<00:13:53.573> think<00:13:53.750> of<00:13:53.814> Techstars.

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Yes,<00:13:54.599> you're<00:13:55.160> an<00:13:55.577> investment<00:13:56.057> firm,<00:13:56.442> you're<00:13:56.602> an<00:13:56.634> accelerator,<00:13:57.404> all<00:13:57.500> those<00:13:57.740> things,<00:13:58.141> right?

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But<00:13:59.022> what<00:13:59.183> Techstars<00:13:59.744> does<00:14:00.128> that's<00:14:00.625> really<00:14:00.849> unique<00:14:01.987> is<00:14:02.131> it<00:14:02.452> also<00:14:03.013> organizes<00:14:03.590> events<00:14:04.215> and<00:14:04.471> community<00:14:05.032> building<00:14:05.337> and<00:14:05.417> all<00:14:05.497> that<00:14:05.657> type<00:14:05.834> of<00:14:05.866> stuff.

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And<00:14:06.539> I<00:14:06.635> imagine<00:14:07.180> you're<00:14:07.436> doing<00:14:07.757> that<00:14:08.638> to<00:14:09.359> help<00:14:09.600> the<00:14:09.760> ecosystem<00:14:10.946> as<00:14:11.187> much,<00:14:11.669> if<00:14:11.829> not<00:14:12.070> more,<00:14:12.809> than<00:14:13.050> to<00:14:13.515> try<00:14:13.628> to<00:14:13.756> get<00:14:13.933> deal<00:14:14.158> flow,<00:14:14.495> right?

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I<00:14:14.976> can't<00:14:15.217> imagine<00:14:15.683> everybody<00:14:16.004> you're<00:14:16.100> inviting<00:14:16.486> to<00:14:16.566> these<00:14:16.726> events<00:14:17.931> are<00:14:18.187> even<00:14:18.669> wanting<00:14:19.135> to<00:14:19.616> or<00:14:20.821> thinking<00:14:21.222> about<00:14:21.623> going<00:14:21.880> into<00:14:22.105> the<00:14:22.185> accelerator.

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So<00:14:22.924> I<00:14:23.004> just<00:14:23.245> wonder<00:14:23.470> how<00:14:23.550> you<00:14:23.711> think<00:14:23.903> about<00:14:24.064> it<00:14:24.112> from<00:14:24.289> that<00:14:24.449> perspective,<00:14:25.156> from<00:14:25.653> a<00:14:25.734> community<00:14:26.440> perspective.

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Yeah,<00:14:27.339> there's<00:14:27.500> sort<00:14:27.676> of<00:14:27.757> an<00:14:27.965> evolution<00:14:28.543> of<00:14:28.704> thought<00:14:28.864> process<00:14:29.491> here,<00:14:29.667> and<00:14:29.812> I<00:14:29.908> would<00:14:30.069> say<00:14:30.390> that<00:14:30.791> evolution<00:14:31.353> is<00:14:31.578> not<00:14:31.835> over,<00:14:32.140> it's<00:14:32.381> still<00:14:32.718> in<00:14:33.023> process.

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Um,<00:14:34.644> when<00:14:34.869> I<00:14:34.982> started<00:14:35.527> at<00:14:35.672> Techstars<00:14:37.579> one<00:14:38.145> of<00:14:38.323> the<00:14:38.404> functions<00:14:39.132> of<00:14:39.294> my<00:14:39.520> role<00:14:39.941> was<00:14:40.167> to<00:14:40.426> build—<00:14:41.218> not,<00:14:41.461> not<00:14:41.623> just<00:14:41.801> mine,<00:14:42.043> ever—<00:14:42.270> anyone<00:14:42.545> in<00:14:42.674> my<00:14:42.836> role<00:14:43.078> was<00:14:43.256> to<00:14:43.418> build<00:14:43.644> out<00:14:43.822> the<00:14:43.855> local<00:14:44.227> community.

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Um,<00:14:47.041> and<00:14:52.049> there,<00:14:52.371> there—<00:14:52.693> I,<00:14:52.998> I<00:14:53.015> don't<00:14:53.159> even<00:14:53.320> know<00:14:53.417> if<00:14:53.578> I<00:14:53.642> remember<00:14:54.126> what<00:14:54.287> all<00:14:54.448> the<00:14:54.544> philosophies<00:14:55.333> were<00:14:55.510> behind<00:14:55.816> it,<00:14:55.913> but<00:14:56.058> just<00:14:56.315> generally<00:14:56.798> speaking,<00:14:57.201> it<00:14:57.362> was<00:14:57.684> like<00:14:58.086> a<00:14:58.167> part<00:14:58.553> of<00:14:58.649> the<00:14:58.794> job.

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That,<00:15:00.887> for<00:15:01.145> a<00:15:01.225> managing<00:15:01.708> director<00:15:03.146> is<00:15:03.322> not<00:15:03.739> necessarily<00:15:04.444> the<00:15:04.524> case<00:15:04.845> anymore.

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It<00:15:05.405> is<00:15:05.582> more<00:15:05.806> the<00:15:05.950> latter,<00:15:06.287> the<00:15:06.447> thing<00:15:06.591> you<00:15:06.687> said,<00:15:06.992> which<00:15:07.168> is<00:15:07.328> now<00:15:07.729> newer<00:15:08.049> managing<00:15:08.466> directors,<00:15:08.931> when<00:15:09.075> they're<00:15:09.171> doing<00:15:09.411> it,<00:15:09.732> there<00:15:09.828> might<00:15:10.052> be<00:15:10.212> a<00:15:10.293> piece<00:15:10.597> where<00:15:10.757> they're<00:15:10.933> doing<00:15:11.254> it<00:15:11.334> because<00:15:11.975> there's<00:15:12.215> a<00:15:12.360> long-term<00:15:13.497> effect<00:15:13.978> of<00:15:14.138> how<00:15:14.234> do<00:15:14.362> you<00:15:14.459> attract<00:15:14.859> great<00:15:15.180> investors,<00:15:15.724> how<00:15:15.756> do<00:15:15.837> you<00:15:15.901> attract<00:15:16.461> great<00:15:16.702> mentors,<00:15:17.086> how<00:15:17.182> do<00:15:17.247> you<00:15:17.343> attract<00:15:17.663> great<00:15:18.224> companies<00:15:19.249> to<00:15:19.330> know<00:15:19.570> about<00:15:19.890> you.

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Or<00:15:21.653> for<00:15:21.765> an<00:15:21.893> ecosystem<00:15:22.550> like<00:15:22.935> Austin,<00:15:23.351> like,<00:15:23.576> I<00:15:23.736> care<00:15:23.992> about<00:15:24.233> this<00:15:24.457> community<00:15:24.809> deeply.

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So<00:15:25.531> when<00:15:25.739> we<00:15:25.915> do<00:15:26.075> things,<00:15:26.636> it's<00:15:26.796> coming<00:15:27.197> more<00:15:27.421> of<00:15:27.517> a<00:15:27.598> place<00:15:27.934> of<00:15:28.222> we<00:15:28.383> have<00:15:28.639> an<00:15:28.735> established<00:15:29.344> community<00:15:29.825> here<00:15:30.547> How<00:15:30.643> do<00:15:30.869> we<00:15:30.901> show<00:15:31.207> our<00:15:31.449> love<00:15:31.771> and<00:15:31.835> our<00:15:31.932> appreciation<00:15:32.818> for<00:15:32.915> the<00:15:33.043> people<00:15:33.301> that<00:15:33.446> have<00:15:33.688> been<00:15:33.801> supporting<00:15:34.348> us<00:15:34.590> for<00:15:34.896> 11<00:15:35.234> or<00:15:35.315> 12<00:15:35.701> years?

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Uh,<00:15:37.469> and<00:15:37.566> but<00:15:37.728> from<00:15:37.906> a,<00:15:38.278> from<00:15:38.521> a<00:15:38.942> recruiting<00:15:39.508> standpoint,<00:15:40.479> at<00:15:40.576> least<00:15:40.819> in<00:15:40.948> Austin,<00:15:41.304> and<00:15:41.434> I<00:15:41.466> think,<00:15:41.855> you<00:15:41.936> know,<00:15:42.114> every<00:15:42.340> one<00:15:42.518> of<00:15:42.664> us<00:15:42.842> is<00:15:42.923> a<00:15:43.052> little<00:15:43.230> bit<00:15:43.392> different,<00:15:44.508> um,<00:15:46.769> you<00:15:46.849> know,<00:15:47.090> where<00:15:47.990> people<00:15:48.375> are<00:15:48.472> coming<00:15:48.777> to<00:15:48.938> us<00:15:49.114> because<00:15:49.420> we've<00:15:49.596> been<00:15:49.693> established<00:15:50.319> and<00:15:50.400> we've<00:15:50.560> been<00:15:50.657> around<00:15:51.042> for<00:15:51.187> a<00:15:51.283> while.

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And,<00:15:52.071> you<00:15:52.167> know,<00:15:52.231> I<00:15:52.392> think<00:15:52.970> fortunately<00:15:53.517> the<00:15:53.613> books<00:15:53.838> have<00:15:54.031> definitely<00:15:54.481> helped<00:15:55.300> raise<00:15:55.768> the,<00:15:56.111> you<00:15:56.193> know,<00:15:56.422> the<00:15:57.010> stature<00:15:57.582> of<00:15:57.746> the,<00:15:58.154> the<00:15:58.563> program<00:15:58.890> here<00:15:59.054> in<00:15:59.135> general.

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So<00:15:59.698> I<00:15:59.714> don't<00:15:59.826> know<00:15:59.858> if<00:15:59.906> that<00:16:00.002> answers<00:16:00.323> your<00:16:00.483> question,<00:16:00.804> but—.

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No,<00:16:01.349> yeah,<00:16:01.734> for<00:16:01.815> sure.

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Yeah,<00:16:02.793> so<00:16:03.194> there<00:16:04.397> used<00:16:04.637> to<00:16:04.717> be<00:16:04.878> a<00:16:04.894> whole<00:16:05.920> part<00:16:06.097> of<00:16:06.177> our<00:16:06.337> organization<00:16:08.181> that<00:16:08.358> their<00:16:08.502> responsibility<00:16:09.448> was<00:16:09.705> to<00:16:09.865> go<00:16:10.090> and<00:16:10.186> build<00:16:10.411> communities<00:16:10.924> even<00:16:11.148> where<00:16:11.293> we<00:16:11.389> didn't<00:16:11.613> have<00:16:11.790> programs.

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And<00:16:12.832> that<00:16:13.073> still<00:16:13.410> exists,<00:16:13.955> but<00:16:14.051> it<00:16:14.340> has,<00:16:15.142> I<00:16:15.222> would<00:16:15.334> say,<00:16:16.601> I<00:16:16.681> don't<00:16:17.628> think<00:16:17.788> about<00:16:18.029> that<00:16:18.125> part<00:16:18.301> of<00:16:18.429> the<00:16:18.526> organization<00:16:19.007> anymore<00:16:19.247> just<00:16:19.472> in<00:16:19.552> how<00:16:19.664> the<00:16:19.809> role<00:16:20.033> has<00:16:20.210> evolved.

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Right,<00:16:21.653> that's<00:16:21.894> actually<00:16:22.134> super<00:16:22.535> interesting.

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Let's<00:16:23.978> take<00:16:24.219> Brian<00:16:24.925> Trotter's<00:16:25.342> question.

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He<00:16:25.678> says,<00:16:25.967> when<00:16:26.063> it<00:16:26.144> comes<00:16:26.464> to<00:16:26.609> vetting<00:16:26.929> for<00:16:27.090> this<00:16:27.330> passion<00:16:27.731> and<00:16:27.827> founders,<00:16:28.309> how<00:16:28.453> do<00:16:28.533> you<00:16:28.613> figure<00:16:28.934> that<00:16:29.175> out?

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Especially<00:16:30.367> for<00:16:30.528> those<00:16:31.012> on<00:16:31.093> the<00:16:31.254> investor<00:16:31.738> side,<00:16:32.286> angels.

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How<00:16:33.350> do<00:16:33.415> you<00:16:33.512> assess<00:16:33.915> that<00:16:34.140> out<00:16:34.253> in<00:16:34.334> a<00:16:34.463> pitch<00:16:34.882> or<00:16:34.963> due<00:16:35.124> diligence<00:16:35.689> process?

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Um,<00:16:38.418> I'll<00:16:38.578> answer<00:16:38.755> the<00:16:38.835> first<00:16:39.221> part.

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I'm<00:16:39.478> not<00:16:39.639> sure<00:16:39.944> I<00:16:40.105> fully<00:16:40.667> understand<00:16:41.310> the<00:16:41.390> second<00:16:42.114> part<00:16:42.226> of<00:16:42.290> the<00:16:42.435> question,<00:16:42.612> especially<00:16:43.078> for<00:16:43.158> those<00:16:43.335> on<00:16:43.415> the<00:16:43.495> investor<00:16:43.978> side.

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Are<00:16:44.701> you—<00:16:44.958> maybe,<00:16:45.504> maybe<00:16:45.825> you're<00:16:46.066> an<00:16:46.147> investor,<00:16:46.693> Brian,<00:16:47.015> and<00:16:47.095> you're<00:16:47.256> asking<00:16:47.514> like,<00:16:47.838> well,<00:16:48.000> how<00:16:48.145> do<00:16:48.242> I<00:16:48.323> do<00:16:48.630> it?

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That<00:16:49.213> maybe<00:16:49.455> that's<00:16:50.021> what<00:16:50.248> you're<00:16:50.345> asking.

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Um,<00:16:52.059> so<00:16:52.431> I<00:16:52.673> think<00:16:52.868> about<00:16:53.159> it<00:16:53.239> like<00:16:53.434> some<00:16:53.676> of<00:16:53.806> this<00:16:53.886> stuff<00:16:54.226> is<00:16:54.695> not<00:16:55.099> quantifiable.

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A<00:16:55.956> lot<00:16:56.151> of<00:16:56.248> it<00:16:56.328> is<00:16:56.490> not<00:16:56.620> quantifiable,<00:16:57.619> and<00:16:57.898> so<00:16:58.455> some<00:16:58.701> of<00:16:58.799> it<00:16:58.930> is<00:16:59.542> I<00:16:59.606> guess<00:16:59.944> arguably<00:17:00.442> it<00:17:00.570> is,<00:17:00.747> but<00:17:00.907> it's<00:17:00.988> pattern<00:17:01.309> matching<00:17:01.871> over<00:17:02.112> time.

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The<00:17:03.156> things<00:17:04.023> that,<00:17:05.228> that<00:17:05.790> I<00:17:06.031> think<00:17:06.208> about<00:17:07.011> are<00:17:08.215> when<00:17:08.360> I<00:17:08.617> look—<00:17:09.179> when<00:17:09.324> I'm<00:17:09.581> talking<00:17:10.063> to<00:17:10.207> someone,<00:17:11.187> I<00:17:11.267> would<00:17:11.364> say<00:17:11.508> there's<00:17:11.701> like<00:17:11.845> a<00:17:12.311> maybe<00:17:12.536> 3<00:17:13.034> or<00:17:13.098> 4<00:17:13.419> things<00:17:13.660> that<00:17:13.773> stand—<00:17:14.222> that,<00:17:14.720> that<00:17:14.865> I<00:17:14.961> look<00:17:15.202> to<00:17:15.507> as<00:17:15.604> standouts.

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One<00:17:16.889> of<00:17:16.969> them<00:17:17.194> is<00:17:18.238> when<00:17:18.398> I<00:17:19.137> am<00:17:19.298> talking<00:17:19.699> to<00:17:19.780> them<00:17:19.956> about<00:17:20.406> like<00:17:20.727> how<00:17:20.904> they<00:17:21.065> got<00:17:21.306> to<00:17:21.530> where<00:17:21.707> they<00:17:22.012> are<00:17:22.269> today.

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And<00:17:24.020> let<00:17:24.068> me<00:17:24.261> actually<00:17:24.438> back<00:17:24.695> up<00:17:24.839> for<00:17:24.903> a<00:17:24.919> second.

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I<00:17:26.605> try<00:17:27.248> really,<00:17:27.729> really<00:17:28.114> hard<00:17:28.612> in<00:17:28.757> my<00:17:28.917> first<00:17:29.254> and<00:17:29.351> second<00:17:29.720> conversation<00:17:30.442> with<00:17:30.779> any<00:17:31.004> entrepreneur<00:17:31.502> that<00:17:31.614> I'm<00:17:31.743> meeting<00:17:32.144> to<00:17:32.465> not<00:17:32.786> talk<00:17:33.043> about<00:17:33.332> their<00:17:33.428> business.

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It<00:17:34.552> doesn't<00:17:34.793> always<00:17:35.018> work<00:17:35.596> because<00:17:36.061> people<00:17:36.238> are<00:17:36.398> excited<00:17:36.719> to<00:17:36.800> talk<00:17:37.024> about<00:17:37.265> it<00:17:37.346> and<00:17:37.426> I<00:17:37.522> get<00:17:37.747> it.

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But<00:17:38.887> when<00:17:39.031> I<00:17:39.449> don't<00:17:39.914> pay<00:17:40.171> close<00:17:40.492> attention<00:17:40.894> to<00:17:40.990> that<00:17:41.231> intentionally<00:17:41.921> because<00:17:42.178> I<00:17:42.338> don't<00:17:42.579> wanna<00:17:42.740> be<00:17:42.900> biased<00:17:43.286> one<00:17:43.446> way<00:17:43.510> or<00:17:43.542> the<00:17:43.687> other.

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So<00:17:44.361> the<00:17:44.490> thing<00:17:44.666> that<00:17:44.811> I<00:17:44.907> try<00:17:45.068> to<00:17:45.228> focus<00:17:45.629> on<00:17:45.951> is<00:17:46.175> a<00:17:46.191> couple<00:17:46.416> things.

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One<00:17:46.914> is<00:17:47.716> I<00:17:47.781> try<00:17:47.957> to<00:17:48.118> understand<00:17:49.466> other<00:17:49.659> things<00:17:50.028> that<00:17:50.125> they've<00:17:50.365> done<00:17:50.590> in<00:17:51.008> their<00:17:51.168> past<00:17:51.634> life<00:17:52.533> and<00:17:52.677> how<00:17:53.095> they've<00:17:53.320> approached<00:17:53.802> them.

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How—<00:17:54.781> like,<00:17:55.087> how—<00:17:56.211> and<00:17:56.259> I'll<00:17:56.388> give<00:17:56.532> you<00:17:56.709> some<00:17:57.014> more<00:17:57.110> specific<00:17:57.528> examples,<00:17:57.978> like,<00:17:58.540> are,<00:17:58.797> you<00:17:58.893> know,<00:17:59.263> do<00:17:59.359> they<00:17:59.520> get<00:17:59.841> obsessed<00:18:00.483> with<00:18:00.644> things?

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How<00:18:01.849> do<00:18:01.993> they<00:18:02.154> work<00:18:02.427> through<00:18:03.358> the<00:18:03.439> challenges<00:18:04.033> of<00:18:04.113> those<00:18:04.724> obsessions?

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Can<00:18:06.105> they<00:18:06.330> persevere<00:18:07.069> through<00:18:07.293> those<00:18:07.550> things?

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If<00:18:08.659> they're<00:18:08.787> successful,<00:18:09.542> how<00:18:09.703> do<00:18:09.799> they<00:18:09.944> behave?

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If<00:18:10.506> they're<00:18:10.618> not<00:18:10.859> successful,<00:18:11.566> or<00:18:11.903> if<00:18:12.048> success<00:18:12.449> isn't<00:18:12.674> what<00:18:12.770> they'd<00:18:12.931> hoped<00:18:13.188> it<00:18:13.316> to<00:18:13.397> be,<00:18:13.509> how<00:18:13.590> do<00:18:13.734> they<00:18:13.879> behave?

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And<00:18:14.778> so<00:18:15.180> the<00:18:15.324> kinds<00:18:15.806> of<00:18:15.902> things<00:18:16.127> that<00:18:16.224> I<00:18:16.288> look<00:18:16.384> for—<00:18:16.497> to<00:18:16.545> give<00:18:16.689> you<00:18:16.786> two<00:18:17.027> specific<00:18:17.573> examples<00:18:18.536> One<00:18:18.713> is<00:18:18.873> like<00:18:19.050> if<00:18:19.178> they<00:18:19.338> were<00:18:19.435> an<00:18:19.659> athlete<00:18:20.092> in<00:18:20.221> their<00:18:20.381> life,<00:18:20.702> like<00:18:21.344> I<00:18:21.360> don't<00:18:21.520> care<00:18:21.696> if<00:18:21.905> they<00:18:22.065> were<00:18:22.579> or<00:18:22.723> weren't,<00:18:23.285> and<00:18:23.365> you<00:18:23.397> know,<00:18:23.525> so<00:18:23.670> I<00:18:23.686> want<00:18:23.830> to<00:18:23.862> be<00:18:23.910> careful.

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Like<00:18:24.873> yes,<00:18:25.194> I've<00:18:25.354> had<00:18:25.595> some<00:18:25.755> great<00:18:25.996> athletes,<00:18:26.397> but<00:18:26.814> the<00:18:26.958> thing<00:18:27.054> that<00:18:27.199> I<00:18:27.295> look<00:18:27.455> for<00:18:27.600> is<00:18:27.680> like,<00:18:27.857> okay,<00:18:28.161> were<00:18:28.258> they<00:18:28.418> an<00:18:28.562> athlete<00:18:28.899> as<00:18:29.140> in<00:18:29.284> high<00:18:29.397> school<00:18:29.766> and<00:18:29.862> maybe<00:18:30.183> college?

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Are<00:18:31.145> they<00:18:31.225> still<00:18:31.642> an<00:18:31.771> athlete?

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And<00:18:33.776> are<00:18:33.888> they—<00:18:35.059> or<00:18:35.316> like,<00:18:35.557> are<00:18:35.637> they<00:18:35.797> still<00:18:36.343> doing<00:18:37.145> it?

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Uh,<00:18:37.706> they<00:18:37.803> don't<00:18:37.963> have<00:18:38.139> to<00:18:38.284> be<00:18:38.428> at<00:18:38.685> a,<00:18:39.792> um,<00:18:40.273> like<00:18:40.385> a<00:18:40.514> professional<00:18:41.075> level<00:18:41.412> or<00:18:41.572> an<00:18:41.669> elite<00:18:42.054> level,<00:18:42.920> but<00:18:43.658> are<00:18:43.818> they,<00:18:44.524> um,<00:18:45.070> disciplined<00:18:45.887> with,<00:18:46.608> you<00:18:46.640> know,<00:18:47.009> continually<00:18:47.890> improving<00:18:48.387> themselves?

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So<00:18:49.989> the<00:18:50.150> athletic<00:18:50.550> example,<00:18:51.015> and<00:18:51.063> I'll<00:18:51.175> give<00:18:51.287> you<00:18:51.432> a<00:18:51.448> non-athletic<00:18:52.089> example<00:18:52.473> too,<00:18:52.634> but<00:18:52.714> the<00:18:52.858> athletic<00:18:53.210> example<00:18:53.675> is,<00:18:54.220> you<00:18:54.300> know,<00:18:54.701> is<00:18:54.797> part<00:18:55.037> of<00:18:55.134> their<00:18:55.358> routine<00:18:55.983> to<00:18:56.095> wake<00:18:56.319> up<00:18:56.480> every<00:18:56.720> day<00:18:57.281> and<00:18:57.425> work<00:18:57.666> out<00:18:57.842> for<00:18:58.002> an<00:18:58.467> hour,<00:18:58.643> hour<00:18:58.787> and<00:18:58.867> a<00:18:58.948> half,<00:18:59.845> 5,<00:19:00.085> 6<00:19:00.326> days<00:19:00.566> a<00:19:00.646> week<00:19:01.111> before<00:19:01.912> they<00:19:02.008> go<00:19:02.153> to<00:19:02.249> work?

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Or<00:19:02.794> do<00:19:02.890> they,<00:19:03.291> you<00:19:03.371> know,<00:19:03.531> they<00:19:03.691> say<00:19:03.867> like<00:19:04.188> every<00:19:04.348> day<00:19:04.492> at<00:19:04.637> lunch<00:19:04.973> I<00:19:04.989> take<00:19:05.214> an<00:19:05.294> hour<00:19:05.374> and<00:19:05.470> a<00:19:05.518> half<00:19:05.598> break?

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Or<00:19:05.999> do<00:19:06.095> they<00:19:06.239> all,<00:19:06.415> you<00:19:06.480> know,<00:19:06.880> like<00:19:07.057> what<00:19:07.217> are<00:19:07.297> the<00:19:07.457> things<00:19:07.617> that<00:19:07.762> they<00:19:07.842> are<00:19:07.938> doing<00:19:08.242> to<00:19:08.339> continually<00:19:08.803> improve<00:19:09.156> themselves?

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Flip<00:19:10.422> it<00:19:10.502> to<00:19:10.566> something<00:19:10.822> that's<00:19:10.983> not<00:19:11.143> athletic,<00:19:11.544> like<00:19:11.704> maybe,<00:19:12.345> you<00:19:12.425> know,<00:19:12.569> they<00:19:12.665> had<00:19:12.826> music<00:19:13.226> as<00:19:13.371> a<00:19:13.387> passion,<00:19:13.851> right?

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And<00:19:14.108> it's,<00:19:14.412> or,<00:19:14.653> or<00:19:14.749> it's<00:19:14.925> a<00:19:14.989> newer<00:19:15.310> passion<00:19:15.630> and<00:19:15.710> say,<00:19:15.855> yeah,<00:19:16.031> you<00:19:16.111> know,<00:19:16.592> I<00:19:16.736> used<00:19:16.848> to<00:19:16.929> play<00:19:17.073> guitar<00:19:17.394> as<00:19:17.538> a<00:19:17.618> kid<00:19:18.035> and<00:19:18.596> I<00:19:18.693> still<00:19:19.061> play,<00:19:20.200> I<00:19:20.457> still<00:19:20.681> pick<00:19:20.841> up<00:19:20.922> the<00:19:21.002> guitar<00:19:21.467> for<00:19:22.188> an<00:19:23.231> hour<00:19:23.487> a<00:19:23.808> day<00:19:23.968> or<00:19:24.514> 5<00:19:24.754> to<00:19:24.834> 10<00:19:25.075> hours<00:19:25.332> a<00:19:25.412> week<00:19:25.668> and<00:19:25.813> here's<00:19:26.037> what<00:19:26.085> I'm<00:19:26.278> learning.

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And<00:19:26.679> I<00:19:26.695> might<00:19:26.999> ask<00:19:27.256> specific<00:19:27.817> questions<00:19:28.844> to<00:19:29.100> test<00:19:29.565> that,<00:19:29.726> like,<00:19:29.902> are<00:19:29.982> they<00:19:30.207> always<00:19:30.447> challenging<00:19:30.768> themselves<00:19:31.265> to<00:19:31.506> learn<00:19:31.810> more<00:19:32.067> and<00:19:32.147> to<00:19:32.275> improve?

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And<00:19:33.590> then<00:19:33.751> the<00:19:33.831> way<00:19:33.975> that<00:19:34.071> I<00:19:34.152> think<00:19:34.312> about<00:19:34.536> that<00:19:34.649> is,<00:19:34.777> okay,<00:19:35.034> they're<00:19:35.178> showing<00:19:35.755> a<00:19:36.140> passion<00:19:36.557> and<00:19:36.637> an<00:19:36.733> obsession,<00:19:37.760> and<00:19:37.824> if<00:19:37.904> they<00:19:37.984> have<00:19:38.097> that<00:19:38.257> same<00:19:38.481> passion<00:19:38.802> and<00:19:38.898> obsession<00:19:39.363> for<00:19:39.524> the<00:19:39.684> work,<00:19:40.310> they<00:19:40.390> will<00:19:40.566> likely<00:19:40.967> put<00:19:41.127> in<00:19:41.192> the<00:19:41.272> same<00:19:41.592> kind<00:19:41.705> of<00:19:41.833> effort<00:19:42.090> and<00:19:42.170> discipline.

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Um,<00:19:44.176> so<00:19:44.240> that's<00:19:44.481> one<00:19:44.657> way.

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Yeah,<00:19:45.299> that<00:19:45.460> makes<00:19:45.813> sense.

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Super—<00:19:46.824> like,<00:19:47.450> that<00:19:47.691> is<00:19:47.803> a<00:19:47.964> big<00:19:48.189> thing<00:19:48.429> for<00:19:48.526> me.

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Look,<00:19:48.895> I<00:19:48.991> get<00:19:49.152> it<00:19:49.296> wrong<00:19:49.954> sometimes<00:19:50.596> too,<00:19:50.917> right?

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Like,<00:19:51.174> just<00:19:51.399> be<00:19:51.543> clear.

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But<00:19:52.057> that<00:19:52.218> is<00:19:52.362> a<00:19:52.442> big<00:19:52.667> thing<00:19:52.844> that<00:19:52.940> I<00:19:53.068> look<00:19:53.325> for,<00:19:53.486> and<00:19:53.534> I'm<00:19:53.711> really<00:19:53.951> honest<00:19:54.208> about<00:19:54.449> that,<00:19:54.690> like,<00:19:55.412> upfront,<00:19:55.878> you<00:19:55.910> know.

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I<00:19:56.134> don't<00:19:56.439> hide<00:19:56.680> from<00:19:56.776> that.

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The<00:19:57.499> other<00:19:57.724> thing<00:19:57.884> that<00:19:57.980> I<00:19:58.125> look<00:19:58.301> for<00:19:58.542> is<00:19:59.329> how<00:19:59.425> metrics<00:19:59.907> and<00:19:59.987> data-driven<00:20:00.613> are<00:20:01.512> they.

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And<00:20:02.395> so<00:20:02.860> I<00:20:02.957> can<00:20:03.117> get<00:20:03.904> at<00:20:04.177> some<00:20:04.417> of<00:20:04.562> that<00:20:04.867> in<00:20:04.947> the<00:20:05.027> same<00:20:05.910> line<00:20:06.087> of<00:20:06.151> questioning,<00:20:06.649> and<00:20:06.729> sometimes<00:20:07.355> I<00:20:07.371> can't,<00:20:07.852> and<00:20:08.157> we<00:20:08.190> need<00:20:08.334> to<00:20:08.414> talk<00:20:08.591> about<00:20:08.735> work<00:20:08.960> stuff.

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But<00:20:09.281> using<00:20:09.522> those<00:20:09.698> two<00:20:09.827> examples,<00:20:10.982> Like,<00:20:11.239> if<00:20:11.383> they're,<00:20:11.800> if<00:20:11.928> they're<00:20:12.089> athletes,<00:20:12.570> you<00:20:12.602> know,<00:20:12.730> I<00:20:12.826> might<00:20:13.211> ask<00:20:13.452> them<00:20:13.564> about,<00:20:14.991> you<00:20:15.071> know,<00:20:15.215> what<00:20:15.328> are<00:20:15.456> you<00:20:15.616> using<00:20:15.873> to<00:20:16.033> track<00:20:16.338> your<00:20:16.434> progress?

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And<00:20:17.332> if<00:20:17.460> they're<00:20:17.572> like,<00:20:18.021> oh,<00:20:18.053> nothing,<00:20:19.080> that<00:20:19.224> tells<00:20:19.465> me<00:20:19.497> something.

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Or<00:20:19.946> if<00:20:20.026> like,<00:20:20.202> oh,<00:20:20.346> you<00:20:20.378> know,<00:20:20.603> yeah,<00:20:21.148> spreadsheet,<00:20:21.645> and<00:20:21.741> I<00:20:21.806> do<00:20:21.950> all<00:20:22.030> these<00:20:22.190> things,<00:20:22.335> I'm<00:20:22.383> like,<00:20:22.527> oh<00:20:22.543> my<00:20:22.623> gosh,<00:20:22.912> you're<00:20:22.992> obsessed.

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And<00:20:23.650> they<00:20:23.746> don't—<00:20:23.970> you<00:20:24.034> don't<00:20:24.147> have<00:20:24.291> to<00:20:24.355> be<00:20:24.451> that<00:20:24.612> extreme<00:20:25.012> by<00:20:25.173> any<00:20:25.333> stretch,<00:20:25.798> but<00:20:25.878> like,<00:20:26.456> understanding<00:20:27.017> how<00:20:27.241> they<00:20:27.418> think<00:20:27.594> about<00:20:28.123> the<00:20:28.364> data<00:20:28.684> they<00:20:28.861> use<00:20:29.101> to<00:20:29.262> improve<00:20:30.224> helps<00:20:30.464> me<00:20:30.544> understand<00:20:30.929> how<00:20:31.025> they<00:20:31.250> will<00:20:31.346> approach<00:20:31.747> their—<00:20:32.388> potentially<00:20:32.853> approach<00:20:33.110> their<00:20:33.254> business.

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And<00:20:33.655> the<00:20:33.687> same<00:20:33.992> thing,<00:20:34.312> you<00:20:34.409> know,<00:20:34.617> with<00:20:35.355> the<00:20:35.419> music<00:20:35.756> example,<00:20:36.221> which<00:20:36.397> is<00:20:37.022> much<00:20:37.199> less<00:20:37.423> quantifiable,<00:20:38.273> but<00:20:38.530> Are<00:20:38.790> they<00:20:38.791> like,<00:20:38.970> well,<00:20:39.070> I've<00:20:39.230> got<00:20:39.390> a<00:20:39.490> notebook<00:20:39.890> of,<00:20:40.330> you<00:20:40.350> know,<00:20:40.530> that,<00:20:41.310> that,<00:20:41.330> you<00:20:41.331> know,<00:20:41.470> I<00:20:41.570> keep<00:20:41.690> track<00:20:41.990> of<00:20:42.110> the<00:20:42.210> songs<00:20:42.430> I'm<00:20:42.630> doing.

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I<00:20:42.791> have<00:20:42.890> another<00:20:43.110> notebook<00:20:43.430> for<00:20:43.610> the<00:20:43.710> songs<00:20:43.930> I'm<00:20:44.090> writing,<00:20:44.290> and<00:20:44.390> I<00:20:44.470> have<00:20:44.590> another<00:20:44.810> notebook<00:20:45.210> for<00:20:45.390> the<00:20:45.550> chords<00:20:45.790> I'm<00:20:45.910> learning,<00:20:46.190> and<00:20:46.250> another—<00:20:46.810> but<00:20:46.811> like,<00:20:47.270> all<00:20:47.510> of<00:20:47.610> a<00:20:47.710> sudden<00:20:47.810> I'm<00:20:48.030> learning<00:20:48.270> a<00:20:48.450> little<00:20:48.530> bit<00:20:48.710> about<00:20:48.870> how<00:20:49.050> they<00:20:49.230> process<00:20:49.930> information<00:20:50.330> and<00:20:50.490> how<00:20:50.630> they<00:20:50.730> use<00:20:50.850> that<00:20:51.050> information<00:20:51.330> to<00:20:51.490> improve.

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And<00:20:51.910> so<00:20:51.970> those<00:20:52.090> are<00:20:52.230> the<00:20:52.350> kinds<00:20:52.550> of<00:20:52.730> things<00:20:52.870> that,<00:20:53.430> that<00:20:53.870> I,<00:20:54.130> I<00:20:54.390> look<00:20:54.530> for<00:20:54.730> that<00:20:54.830> help<00:20:54.970> me<00:20:55.270> get<00:20:55.450> a<00:20:55.650> sense<00:20:55.870> of,<00:20:56.250> um,<00:20:57.170> who<00:20:57.370> they<00:20:57.530> are.

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And<00:20:58.330> then<00:20:58.530> I<00:20:59.090> want<00:20:59.290> to<00:20:59.710> not<00:20:59.990> gloss<00:21:00.370> over<00:21:00.630> maybe<00:21:01.010> the<00:21:01.250> obvious,<00:21:01.890> which<00:21:01.891> is,<00:21:02.650> um,<00:21:03.250> are<00:21:03.470> they<00:21:03.710> good<00:21:03.950> human<00:21:04.330> beings?

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Like,<00:21:04.890> this<00:21:05.130> is<00:21:05.510> very,<00:21:06.050> very<00:21:06.390> important<00:21:06.770> for<00:21:06.950> me.

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I<00:21:07.470> don't<00:21:07.810> care—<00:21:08.110> I<00:21:08.210> don't<00:21:08.370> want<00:21:08.510> to<00:21:08.530> invest<00:21:08.550> in<00:21:08.570> someone<00:21:08.590> that<00:21:08.610> I<00:21:08.630> just<00:21:08.650> don't<00:21:11.621> like.

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And<00:21:11.899> I,<00:21:12.126> I<00:21:12.206> like<00:21:12.449> a<00:21:12.465> lot<00:21:12.708> of<00:21:12.788> people.

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Like,<00:21:13.209> I'm<00:21:13.354> pretty—<00:21:14.082> like,<00:21:14.227> it's<00:21:14.389> pretty<00:21:14.550> hard<00:21:14.728> to<00:21:14.874> ruffle<00:21:15.132> my<00:21:15.294> feathers.

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So,<00:21:16.409> but<00:21:16.571> I<00:21:16.668> definitely<00:21:16.991> have<00:21:17.088> a<00:21:17.153> no<00:21:17.298> asshole<00:21:17.703> rule.

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Like,<00:21:18.753> I<00:21:18.770> don't<00:21:18.915> care<00:21:19.077> how<00:21:19.400> awesome<00:21:19.804> your<00:21:19.901> business<00:21:20.289> is<00:21:20.386> going<00:21:20.483> to<00:21:20.612> be,<00:21:20.871> if<00:21:20.920> you've<00:21:21.103> got<00:21:21.220> a<00:21:21.286> huge<00:21:21.603> ego<00:21:21.870> and<00:21:21.953> you're<00:21:22.053> not<00:21:22.286> coachable,<00:21:24.293> we're<00:21:24.454> not—<00:21:24.859> you<00:21:24.923> know,<00:21:25.182> let<00:21:25.360> someone<00:21:25.667> else<00:21:25.829> invest<00:21:26.169> in<00:21:26.250> you,<00:21:26.395> but<00:21:26.492> it's<00:21:26.638> not<00:21:26.816> me.

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Because,<00:21:27.673> you<00:21:27.705> know,<00:21:27.851> we're<00:21:27.996> in<00:21:28.093> so<00:21:28.400> early,<00:21:28.659> we're<00:21:28.821> gonna<00:21:29.144> have<00:21:29.306> a<00:21:29.322> relationship<00:21:29.953> for<00:21:30.034> a<00:21:30.196> decade,<00:21:30.584> probably,<00:21:31.085> maybe<00:21:31.392> longer.

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And<00:21:32.462> I<00:21:32.543> want<00:21:32.689> to<00:21:32.737> have,<00:21:33.111> you<00:21:33.192> know,<00:21:33.289> relationships<00:21:33.841> with<00:21:34.004> people<00:21:34.247> that,<00:21:34.572> you<00:21:34.653> know,<00:21:34.977> they're<00:21:35.075> going<00:21:35.708> to<00:21:35.968> enhance<00:21:36.357> my<00:21:36.455> life<00:21:36.682> as<00:21:36.795> a<00:21:36.860> human,<00:21:37.266> not<00:21:37.428> just<00:21:38.032> my<00:21:38.354> pocketbook<00:21:38.851> if<00:21:38.980> they're<00:21:39.076> successful.

00:21:40.265 --> 00:21:41.614
Yeah,<00:21:40.683> yeah,<00:21:40.843> that's<00:21:41.100> a<00:21:41.229> good<00:21:41.470> rule.

00:21:41.727 --> 00:21:43.461
A<00:21:41.743> no-asshole<00:21:42.449> rule<00:21:42.706> is<00:21:42.915> always<00:21:43.253> good.

00:21:44.281 --> 00:21:48.152
Um,<00:21:44.923> easy<00:21:45.100> to<00:21:45.180> say<00:21:45.485> but<00:21:45.582> harder<00:21:45.887> when<00:21:45.983> you're<00:21:46.128> looking<00:21:46.385> down<00:21:46.786> the<00:21:46.867> barrel<00:21:47.204> of<00:21:47.284> a<00:21:47.413> great<00:21:47.606> investment.

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Like,<00:21:48.377> sometimes,<00:21:48.875> look,<00:21:49.180> I<00:21:49.196> get<00:21:49.742> it<00:21:49.838> wrong<00:21:50.160> sometimes.

00:21:50.641 --> 00:21:57.259
Like,<00:21:51.268> you<00:21:51.300> know,<00:21:51.493> every,<00:21:51.782> every<00:21:52.167> couple<00:21:52.344> of<00:21:52.489> programs<00:21:53.131> I<00:21:54.175> do<00:21:54.898> miss<00:21:55.203> it<00:21:55.380> because<00:21:55.637> I<00:21:55.765> get<00:21:55.878> excited<00:21:56.328> about<00:21:56.681> something<00:21:57.147> else.

00:21:57.404 --> 00:22:00.681
Oh<00:21:57.420> my<00:21:57.532> gosh,<00:21:57.645> shit,<00:21:58.014> like<00:21:58.175> I<00:21:58.207> missed<00:21:58.448> it<00:21:58.657> and<00:21:59.090> I<00:21:59.155> saw<00:21:59.556> them<00:21:59.653> there<00:22:00.038> but<00:22:00.135> I<00:22:00.183> ignored<00:22:00.520> them.

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And<00:22:00.841> it's<00:22:01.227> really<00:22:01.403> hard<00:22:01.644> sometimes.

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It's<00:22:02.207> easy<00:22:02.367> to<00:22:02.448> say<00:22:02.688> but<00:22:02.833> harder<00:22:03.026> to<00:22:03.170> do.

00:22:03.877 --> 00:22:16.952
You<00:22:04.134> mentioned<00:22:04.423> something<00:22:04.600> that<00:22:04.937> brought<00:22:05.194> to<00:22:05.275> mind—<00:22:05.724> I<00:22:05.805> was<00:22:05.965> at<00:22:06.046> an<00:22:06.142> event<00:22:06.367> once<00:22:06.768> where<00:22:07.170> Reed<00:22:07.331> Hastings,<00:22:07.973> uh,<00:22:09.178> co-founder<00:22:09.756> of<00:22:09.917> Netflix,<00:22:10.559> former<00:22:10.800> CEO,<00:22:11.989> um,<00:22:12.149> he<00:22:12.262> said<00:22:12.471> something<00:22:12.647> like,<00:22:12.824> if<00:22:12.953> you<00:22:13.049> can't<00:22:13.916> lead<00:22:14.238> yourself,<00:22:15.539> you're<00:22:15.651> not<00:22:15.844> going<00:22:15.924> to<00:22:16.004> be<00:22:16.085> able<00:22:16.278> to<00:22:16.342> lead<00:22:16.502> others.

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And<00:22:17.530> it<00:22:17.611> kind<00:22:17.803> of<00:22:17.852> sounds<00:22:18.109> like<00:22:18.366> in<00:22:18.510> this<00:22:18.671> second<00:22:19.024> meeting<00:22:19.394> you're<00:22:19.554> kind<00:22:19.715> of<00:22:19.747> like<00:22:20.036> looking<00:22:20.341> for<00:22:20.438> that,<00:22:20.823> like,<00:22:21.000> can<00:22:21.145> this<00:22:21.385> person<00:22:21.546> like<00:22:21.803> lead<00:22:22.028> themselves?

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Oh,<00:22:23.313> interesting.

00:22:24.052 --> 00:22:25.578
I<00:22:24.116> hadn't<00:22:24.470> thought<00:22:24.855> about<00:22:25.096> it<00:22:25.241> that<00:22:25.401> way.

00:22:26.124 --> 00:22:27.361
I<00:22:26.140> had<00:22:26.285> never<00:22:26.542> thought<00:22:26.766> about<00:22:26.959> it<00:22:27.040> that<00:22:27.248> way.

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I<00:22:27.730> like<00:22:27.971> that.

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I'm<00:22:28.244> gonna,<00:22:28.565> I'm<00:22:28.790> gonna<00:22:29.994> put<00:22:30.155> that<00:22:30.315> aside<00:22:30.636> and<00:22:30.716> think<00:22:30.893> about<00:22:31.118> it<00:22:31.198> more.

00:22:31.439 --> 00:22:39.367
But,<00:22:31.840> but<00:22:31.920> there<00:22:32.145> is<00:22:32.321> a—<00:22:32.723> there<00:22:32.883> is<00:22:33.766> like<00:22:34.167> the<00:22:34.327> longer<00:22:34.648> description<00:22:35.130> of<00:22:35.274> how<00:22:35.435> I<00:22:35.531> think<00:22:35.772> about<00:22:36.029> it<00:22:36.157> is,<00:22:36.478> you<00:22:36.510> know,<00:22:36.735> do<00:22:36.895> I<00:22:37.056> believe<00:22:37.457> that<00:22:37.601> they<00:22:37.698> can<00:22:37.858> attract<00:22:38.356> and<00:22:38.500> retain<00:22:38.885> great<00:22:39.126> talent?

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That's<00:22:39.607> something<00:22:39.864> that<00:22:39.960> I<00:22:40.025> do<00:22:40.265> actually<00:22:40.570> say<00:22:40.763> and<00:22:41.228> talk<00:22:41.533> about<00:22:41.710> and<00:22:41.774> have<00:22:41.934> written<00:22:42.111> about.

00:22:43.218 --> 00:22:52.270
And,<00:22:43.860> um,<00:22:44.422> you<00:22:44.454> know,<00:22:44.550> that<00:22:44.743> founding<00:22:45.064> team<00:22:45.240> may<00:22:45.369> or<00:22:45.417> may<00:22:45.561> not<00:22:45.802> be<00:22:45.882> the<00:22:45.963> right<00:22:46.203> founding<00:22:46.508> team,<00:22:46.910> but<00:22:47.022> it<00:22:47.150> tells<00:22:47.487> me<00:22:47.632> a<00:22:47.728> lot<00:22:47.969> the<00:22:48.049> kinds<00:22:48.611> of<00:22:48.691> people<00:22:49.654> that<00:22:50.055> they<00:22:50.537> are<00:22:50.617> able<00:22:50.874> to<00:22:51.002> bring<00:22:51.178> it<00:22:51.243> into<00:22:51.499> an<00:22:51.580> organization.

00:22:52.318 --> 00:23:05.477
And,<00:22:52.543> you<00:22:52.623> know,<00:22:53.024> hearing<00:22:53.281> someone<00:22:53.522> say,<00:22:53.810> oh,<00:22:53.907> we've<00:22:54.067> got<00:22:54.228> the<00:22:54.388> best<00:22:54.629> developer<00:22:55.752> ever<00:22:56.153> working<00:22:56.539> on<00:22:56.571> this,<00:22:56.731> or<00:22:56.795> the<00:22:56.876> best<00:22:57.036> CTO,<00:22:57.758> like,<00:22:58.480> maybe,<00:22:59.748> yeah,<00:23:00.952> or<00:23:01.032> maybe<00:23:01.289> your<00:23:01.449> bar<00:23:01.674> is<00:23:01.770> too<00:23:01.995> low,<00:23:02.268> or<00:23:02.380> maybe<00:23:02.653> they<00:23:02.877> are<00:23:03.038> great<00:23:03.359> but<00:23:03.455> they're<00:23:03.615> actually<00:23:03.872> not<00:23:04.097> as<00:23:04.257> invested<00:23:04.723> as<00:23:04.883> you<00:23:04.980> say<00:23:05.220> they<00:23:05.445> are.

00:23:05.525 --> 00:23:10.853
And<00:23:05.605> so,<00:23:05.718> like,<00:23:05.958> there's—<00:23:06.504> there's—<00:23:07.066> these<00:23:07.242> are<00:23:07.451> really—<00:23:07.868> they're<00:23:08.045> nuanced,<00:23:08.831> non-data-driven<00:23:09.633> things,<00:23:09.858> but<00:23:10.034> I<00:23:10.115> do<00:23:10.259> look<00:23:10.436> for<00:23:10.500> those<00:23:10.676> things.

00:23:10.901 --> 00:23:13.741
Like,<00:23:10.997> yeah,<00:23:11.623> are<00:23:11.784> you<00:23:11.880> going<00:23:12.265> to<00:23:12.361> be<00:23:12.522> a<00:23:12.666> great<00:23:13.485> leader?

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Are<00:23:14.030> people<00:23:14.367> gonna<00:23:14.993> swarm<00:23:15.651> to<00:23:15.795> you<00:23:16.052> and<00:23:16.213> be<00:23:16.277> like,<00:23:16.518> wow,<00:23:17.641> you<00:23:17.673> know?

00:23:17.817 --> 00:23:22.359
And<00:23:17.962> I,<00:23:18.122> I<00:23:18.283> actually—<00:23:18.716> something<00:23:19.085> that<00:23:19.246> I,<00:23:19.567> I<00:23:19.743> used<00:23:20.048> to—<00:23:20.545> I<00:23:20.626> haven't<00:23:20.931> done<00:23:21.091> this<00:23:21.268> in<00:23:21.348> a<00:23:21.428> while,<00:23:21.669> I<00:23:21.685> probably<00:23:21.893> should<00:23:22.054> do<00:23:22.150> it<00:23:22.214> again.

00:23:22.712 --> 00:23:25.745
I<00:23:22.872> used<00:23:23.097> to<00:23:23.193> think<00:23:23.450> about<00:23:24.060> is,<00:23:24.782> would<00:23:24.878> I<00:23:25.039> go<00:23:25.183> work<00:23:25.424> for<00:23:25.584> you?

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And<00:23:26.740> if<00:23:26.868> the<00:23:27.028> answer<00:23:27.301> is<00:23:27.510> yes,<00:23:28.248> then<00:23:28.649> you're<00:23:28.810> probably<00:23:29.291> someone<00:23:29.628> I<00:23:29.837> want<00:23:30.013> to<00:23:30.158> invest<00:23:30.559> in<00:23:31.201> because<00:23:31.923> I'd<00:23:32.003> be<00:23:32.163> willing<00:23:32.420> to<00:23:32.500> invest<00:23:32.902> my<00:23:32.982> own<00:23:33.142> time<00:23:33.463> and<00:23:33.608> follow<00:23:33.929> you<00:23:34.025> somewhere.

00:23:35.052 --> 00:23:37.106
Um,<00:23:36.175> yeah,<00:23:36.432> that's<00:23:36.673> an<00:23:36.737> interesting<00:23:37.058> one.

00:23:37.154 --> 00:23:45.338
Run<00:23:37.331> away<00:23:37.491> from<00:23:37.716> that<00:23:37.892> a<00:23:37.940> little<00:23:38.133> bit<00:23:38.277> because<00:23:38.598> I'm<00:23:38.759> doing<00:23:38.935> so<00:23:39.176> many<00:23:39.401> investments<00:23:39.962> now<00:23:40.283> that<00:23:40.604> it<00:23:40.749> is—<00:23:41.471> I<00:23:41.631> think<00:23:41.888> that,<00:23:42.754> yeah,<00:23:42.851> I<00:23:42.931> probably<00:23:43.332> should<00:23:43.637> add<00:23:43.749> it<00:23:43.813> back<00:23:44.054> in,<00:23:44.215> but<00:23:44.311> it<00:23:44.375> sort<00:23:44.536> of<00:23:44.616> fell<00:23:44.776> by<00:23:44.857> the<00:23:44.937> wayside.

00:23:46.060 --> 00:23:48.676
How<00:23:46.156> many<00:23:46.301> startups<00:23:46.702> do<00:23:46.927> you<00:23:47.183> bring<00:23:47.504> in<00:23:47.745> per<00:23:47.970> cohort?

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Is<00:23:48.932> it,<00:23:49.093> is<00:23:49.189> it<00:23:49.269> a<00:23:49.350> fixed<00:23:49.655> number?

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Is<00:23:50.232> it<00:23:50.393> loose?

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Yeah,<00:23:50.874> it's<00:23:51.355> 12,<00:23:51.676> 12<00:23:51.933> a<00:23:51.997> cohort.

00:23:52.543 --> 00:23:53.297
We<00:23:52.623> do<00:23:52.703> that<00:23:52.800> twice<00:23:53.089> a<00:23:53.121> year.

00:23:53.923 --> 00:23:55.430
Oh,<00:23:54.003> okay,<00:23:54.339> so<00:23:54.548> you're<00:23:54.644> doing<00:23:54.804> 24.

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That's<00:23:56.071> a<00:23:56.151> lot,<00:23:56.472> man.

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It's<00:23:57.354> a<00:23:57.370> lot.

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Yeah,<00:23:58.652> 24,<00:24:00.111> uh,<00:24:00.176> but<00:24:00.320> you<00:24:00.416> guys<00:24:00.576> don't<00:24:00.721> take<00:24:00.961> board<00:24:01.154> seats,<00:24:01.538> right?

00:24:01.923 --> 00:24:03.238
Or,<00:24:02.164> or<00:24:02.324> do<00:24:02.420> you<00:24:02.516> sometimes?

00:24:03.302 --> 00:24:04.921
Or<00:24:03.446> do<00:24:03.527> you<00:24:03.623> do<00:24:03.783> follow-on<00:24:04.328> investments?

00:24:04.970 --> 00:24:06.316
How<00:24:05.290> is<00:24:05.467> it<00:24:05.547> working<00:24:05.948> these<00:24:06.172> days?

00:24:06.429 --> 00:24:08.449
It's<00:24:06.509> been<00:24:06.621> a<00:24:06.637> while<00:24:07.054> actually<00:24:07.262> since<00:24:07.471> I've<00:24:07.615> looked<00:24:07.807> at<00:24:07.936> Techstars.

00:24:08.513 --> 00:24:11.207
I'd<00:24:08.593> love<00:24:08.753> to<00:24:08.834> know<00:24:09.555> kind<00:24:09.715> of<00:24:09.780> how<00:24:09.892> it's<00:24:10.116> changed<00:24:10.661> and<00:24:10.758> evolved.

00:24:11.623 --> 00:24:15.776
Yeah,<00:24:12.024> um,<00:24:12.361> we,<00:24:12.922> as<00:24:13.082> part<00:24:13.323> of<00:24:13.483> the<00:24:13.563> Techstars<00:24:14.205> deal,<00:24:14.445> we<00:24:14.606> do<00:24:14.686> not<00:24:15.006> take<00:24:15.247> board<00:24:15.423> seats.

00:24:16.754 --> 00:24:19.271
Um,<00:24:17.091> there's<00:24:17.588> a—<00:24:17.876> we<00:24:17.973> have<00:24:18.133> a<00:24:18.197> couple<00:24:18.502> of<00:24:18.534> different<00:24:18.854> funds.

00:24:19.335 --> 00:24:22.109
We<00:24:19.416> have<00:24:19.576> the<00:24:19.656> Accelerator<00:24:20.458> Fund,<00:24:20.778> which<00:24:21.019> funds<00:24:21.340> the<00:24:21.420> accelerators.

00:24:22.542 --> 00:24:27.215
There<00:24:22.703> are—<00:24:22.928> there<00:24:23.040> is<00:24:23.185> another<00:24:23.827> venture<00:24:24.389> fund<00:24:24.646> inside<00:24:25.015> of<00:24:25.112> Techstars<00:24:25.738> that<00:24:25.898> will<00:24:25.995> do<00:24:26.155> some<00:24:26.637> follow-on.

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It's<00:24:27.841> not<00:24:28.018> a<00:24:28.146> huge<00:24:28.403> fund.

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We<00:24:28.805> don't<00:24:28.997> do<00:24:29.110> what<00:24:29.270> we<00:24:29.367> do—<00:24:29.591> like,<00:24:29.768> less<00:24:30.153> than<00:24:30.410> 10%<00:24:30.571> of<00:24:30.651> the<00:24:30.731> companies<00:24:31.133> will<00:24:31.229> get<00:24:31.374> any<00:24:31.518> follow-on.

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We<00:24:32.160> will<00:24:32.498> never<00:24:32.883> ever<00:24:33.140> lead.

00:24:33.943 --> 00:24:38.904
We<00:24:34.023> always<00:24:34.248> take<00:24:34.408> a<00:24:34.440> very<00:24:34.681> small<00:24:35.067> position<00:24:35.548> in<00:24:35.645> those,<00:24:36.351> um,<00:24:36.672> and<00:24:36.737> it's<00:24:36.897> really<00:24:37.154> just<00:24:37.379> exercising<00:24:37.957> our<00:24:38.117> pro<00:24:38.262> rata<00:24:38.583> rights.

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Um,<00:24:40.670> and,<00:24:40.992> uh,<00:24:41.264> so,<00:24:41.634> you<00:24:41.666> know,<00:24:41.810> occasionally<00:24:42.453> a<00:24:42.533> company<00:24:42.918> might<00:24:43.239> ask—<00:24:43.834> or<00:24:43.978> more<00:24:44.219> than<00:24:44.315> occasionally—<00:24:44.781> but<00:24:45.006> companies<00:24:45.407> might<00:24:45.648> ask<00:24:45.889> us<00:24:45.985> to<00:24:46.210> join<00:24:46.531> boards<00:24:47.173> and<00:24:48.056> Um,<00:24:48.458> you<00:24:48.490> know,<00:24:48.635> sometimes<00:24:49.004> you<00:24:49.116> do,<00:24:49.213> sometimes<00:24:49.678> you<00:24:49.759> don't.

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And<00:24:50.321> as<00:24:50.497> you<00:24:50.626> probably<00:24:51.107> know,<00:24:51.348> like,<00:24:51.910> being<00:24:52.071> on<00:24:52.167> a<00:24:52.231> board<00:24:52.472> is<00:24:52.569> a<00:24:52.649> lot<00:24:53.131> of<00:24:53.532> work.

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And<00:24:53.950> sometimes,<00:24:54.399> yeah,<00:24:54.560> it's<00:24:54.736> time-consuming.

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Yeah,<00:24:56.021> like,<00:24:56.503> I<00:24:56.647> wish<00:24:56.824> I<00:24:56.840> could<00:24:57.001> say<00:24:57.209> yes<00:24:57.370> to<00:24:57.450> everyone<00:24:57.707> who<00:24:57.852> asks,<00:24:58.269> but<00:24:58.655> the<00:24:58.751> reality<00:24:59.297> is,<00:24:59.538> like,<00:25:00.421> you<00:25:00.453> know,<00:25:00.758> can't.

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So<00:25:01.417> I've<00:25:01.545> tried<00:25:01.722> that.

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Yeah.

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What<00:25:02.155> do<00:25:02.219> you<00:25:02.364> think<00:25:02.541> of<00:25:02.605> these,<00:25:02.830> like,<00:25:03.070> there's<00:25:03.408> a<00:25:03.472> lot<00:25:03.632> of<00:25:03.729> venture<00:25:04.034> funds<00:25:04.355> who<00:25:04.451> are<00:25:04.692> like,<00:25:04.933> they<00:25:05.254> just<00:25:05.415> sit<00:25:05.640> on<00:25:05.736> like<00:25:05.913> 15,<00:25:06.378> 20<00:25:06.844> boards,<00:25:07.904> particularly<00:25:08.402> at<00:25:08.530> the<00:25:08.643> early<00:25:08.964> stage,<00:25:09.413> maybe<00:25:09.654> even<00:25:09.991> more.

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How<00:25:10.955> can<00:25:11.115> you<00:25:11.276> possibly<00:25:13.283> be<00:25:13.460> a<00:25:13.588> good<00:25:14.166> board<00:25:14.407> member<00:25:14.712> to<00:25:14.889> 20<00:25:16.334> companies.

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Isn't<00:25:17.282> that<00:25:17.395> a<00:25:17.459> lot?

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It's<00:25:18.262> so—<00:25:18.503> yeah,<00:25:18.888> you<00:25:18.920> know,<00:25:19.547> I,<00:25:20.270> I<00:25:20.286> mean,<00:25:20.575> I<00:25:20.671> think<00:25:20.912> it's<00:25:21.073> possible<00:25:21.699> to<00:25:21.796> do.

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I<00:25:22.261> think<00:25:22.438> it<00:25:22.518> probably<00:25:23.064> has<00:25:23.257> more<00:25:23.884> to<00:25:24.108> do<00:25:24.365> with,<00:25:24.928> well,<00:25:25.072> a<00:25:25.088> few<00:25:25.313> things.

00:25:25.570 --> 00:25:31.208
One,<00:25:25.795> how<00:25:25.891> do<00:25:26.036> they<00:25:26.213> prioritize<00:25:27.883> their<00:25:28.140> life<00:25:28.558> and<00:25:28.702> their—<00:25:28.927> yeah,<00:25:29.007> and<00:25:29.570> what,<00:25:29.811> you<00:25:29.859> know,<00:25:29.971> what,<00:25:30.292> what<00:25:30.389> is<00:25:30.469> important<00:25:30.951> to<00:25:31.031> them.

00:25:31.272 --> 00:25:36.669
And,<00:25:31.433> you<00:25:31.465> know,<00:25:31.658> for<00:25:31.754> me,<00:25:32.959> this<00:25:33.200> work<00:25:33.441> is<00:25:33.665> really<00:25:33.842> important,<00:25:34.324> but<00:25:34.485> the<00:25:34.629> work<00:25:34.806> doesn't<00:25:35.111> define<00:25:35.866> everything<00:25:36.316> that<00:25:36.428> I<00:25:36.573> do.

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There<00:25:36.830> are<00:25:36.974> other<00:25:37.215> things<00:25:37.440> in<00:25:37.472> my<00:25:37.601> life.

00:25:37.777 --> 00:25:44.780
So<00:25:38.163> for<00:25:38.259> me,<00:25:38.404> it's<00:25:38.516> important<00:25:38.821> to<00:25:38.982> also<00:25:39.143> have<00:25:39.319> time<00:25:39.496> for<00:25:39.769> my<00:25:39.946> family<00:25:40.347> and<00:25:40.428> not<00:25:40.669> to<00:25:40.765> say<00:25:41.440> my<00:25:41.552> family's<00:25:41.889> a<00:25:41.953> priority,<00:25:42.371> so<00:25:43.078> I'm<00:25:43.158> going<00:25:43.238> to<00:25:43.318> block<00:25:43.624> time<00:25:43.800> to<00:25:43.945> spend<00:25:44.186> with<00:25:44.282> my<00:25:44.443> family.

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It's<00:25:44.956> no,<00:25:45.229> my<00:25:45.326> family<00:25:45.663> is<00:25:45.808> a<00:25:45.888> priority,<00:25:47.478> and<00:25:47.558> then<00:25:47.719> also<00:25:47.975> the<00:25:48.056> work<00:25:48.232> is<00:25:48.361> a<00:25:48.377> priority.

00:25:48.730 --> 00:25:50.063
So<00:25:48.778> how<00:25:48.875> do<00:25:48.939> they<00:25:49.019> fit<00:25:49.597> together?

00:25:50.224 --> 00:25:52.247
And,<00:25:50.689> you<00:25:50.722> know,<00:25:51.428> and<00:25:51.573> hobbies<00:25:51.910> and<00:25:51.990> such.

00:25:52.777 --> 00:25:53.323
So<00:25:52.938> that's<00:25:53.178> one.

00:25:53.419 --> 00:26:18.036
I<00:25:53.435> also<00:25:53.741> think,<00:25:53.901> like,<00:25:54.094> if<00:25:54.222> you're<00:25:54.335> an<00:25:54.415> emerging<00:25:54.945> fund<00:25:55.106> manager,<00:25:56.149> if<00:25:56.246> you're,<00:25:56.792> you<00:25:56.888> know,<00:25:57.033> your<00:25:57.193> first<00:25:57.611> fund<00:25:57.932> or<00:25:58.012> your<00:25:58.189> second<00:25:58.655> fund,<00:25:59.714> especially<00:26:00.341> right<00:26:00.566> now,<00:26:00.887> but<00:26:01.063> really<00:26:01.304> at<00:26:01.449> any<00:26:01.625> time,<00:26:02.509> you<00:26:02.669> probably<00:26:03.231> have<00:26:03.488> to<00:26:03.633> do<00:26:03.793> a<00:26:03.826> little<00:26:04.195> bit<00:26:04.420> more<00:26:05.544> work<00:26:06.218> in<00:26:06.507> order<00:26:06.829> to<00:26:07.005> ensure<00:26:07.487> that<00:26:07.648> you're<00:26:07.872> able<00:26:08.049> to<00:26:08.210> raise<00:26:08.467> that<00:26:08.627> second<00:26:09.093> or<00:26:09.253> third<00:26:09.575> fund,<00:26:09.896> because<00:26:10.153> you're<00:26:10.378> not<00:26:10.618> going<00:26:10.859> to<00:26:10.940> have<00:26:11.742> as<00:26:11.983> much,<00:26:12.690> um,<00:26:13.733> data<00:26:14.151> and<00:26:14.311> time<00:26:15.275> to<00:26:15.419> say<00:26:15.676> that<00:26:15.997> what<00:26:16.222> you—<00:26:16.479> that<00:26:16.656> you're<00:26:16.880> actually<00:26:17.266> good<00:26:17.378> at<00:26:17.507> your<00:26:17.683> job.

00:26:18.085 --> 00:26:23.415
If<00:26:18.181> you've<00:26:18.325> been<00:26:18.486> doing<00:26:18.727> it<00:26:18.791> for<00:26:18.887> 3,<00:26:19.209> 4,<00:26:19.433> 5<00:26:19.690> funds,<00:26:19.995> you<00:26:20.027> start<00:26:20.332> to<00:26:20.413> have<00:26:20.589> enough<00:26:20.878> data<00:26:21.119> if<00:26:21.296> you're<00:26:21.456> good<00:26:21.697> to<00:26:21.778> be<00:26:21.858> able<00:26:22.099> to<00:26:22.163> point<00:26:22.420> to<00:26:22.725> lots<00:26:22.966> of<00:26:23.062> data.

00:26:23.785 --> 00:26:26.530
So<00:26:23.849> I<00:26:23.929> think<00:26:24.186> they're<00:26:24.668> being<00:26:24.908> able<00:26:25.069> to<00:26:25.214> be<00:26:25.326> more<00:26:25.535> hands-on<00:26:26.048> earlier<00:26:26.353> on.

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But<00:26:26.675> I,<00:26:27.012> I<00:26:27.076> don't<00:26:27.558> know<00:26:27.782> the<00:26:27.943> answer<00:26:28.184> to<00:26:28.280> this,<00:26:28.505> but<00:26:28.601> I<00:26:28.842> bet—<00:26:29.388> I<00:26:29.468> would<00:26:29.549> not<00:26:29.709> be<00:26:29.822> surprised<00:26:30.432> that<00:26:30.913> when<00:26:31.010> you<00:26:31.154> hear<00:26:31.411> that,<00:26:31.909> it's<00:26:32.053> usually<00:26:32.375> people<00:26:32.631> in<00:26:32.680> their<00:26:32.856> fund,<00:26:33.177> fund<00:26:33.402> 1<00:26:33.514> or<00:26:33.675> 2.

00:26:34.301 --> 00:26:42.467
And<00:26:34.398> when<00:26:34.526> you<00:26:34.622> look<00:26:34.799> at<00:26:34.927> people<00:26:35.184> that<00:26:35.345> are<00:26:35.425> in<00:26:35.586> fund<00:26:35.987> 4,<00:26:36.228> 5,<00:26:36.565> or<00:26:36.645> 6<00:26:37.240> they're<00:26:37.448> probably<00:26:37.993> taking<00:26:38.394> less<00:26:38.635> board<00:26:38.875> seats<00:26:39.260> or<00:26:39.372> making<00:26:39.677> less—<00:26:40.238> you<00:26:40.303> know,<00:26:40.399> if<00:26:40.543> they're<00:26:40.639> taking<00:26:40.800> a<00:26:40.880> board<00:26:40.992> seat,<00:26:41.120> they're<00:26:41.233> making<00:26:41.441> less<00:26:41.682> investments<00:26:42.163> a<00:26:42.307> year.

00:26:43.285 --> 00:26:45.611
Yeah,<00:26:44.087> yeah,<00:26:44.231> I<00:26:44.392> think<00:26:44.552> you're<00:26:44.632> probably<00:26:44.889> right<00:26:45.114> about<00:26:45.370> that.

00:26:45.691 --> 00:26:52.667
How<00:26:45.787> do<00:26:45.915> you<00:26:46.012> think<00:26:46.268> about,<00:26:47.439> um,<00:26:47.760> the<00:26:47.920> current<00:26:48.273> state<00:26:48.882> of<00:26:49.155> early<00:26:49.459> stage,<00:26:50.101> like,<00:26:50.406> uh,<00:26:50.582> seed<00:26:50.903> investing<00:26:51.624> and<00:26:52.025> Series<00:26:52.490> A?

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What's<00:26:53.292> that<00:26:53.469> looking<00:26:53.789> like,<00:26:54.511> not<00:26:54.655> just<00:26:54.848> in<00:26:54.976> Austin<00:26:55.377> but<00:26:55.618> just<00:26:55.858> in<00:26:55.954> general?

00:26:56.355 --> 00:26:59.178
Because<00:26:56.516> your<00:26:56.660> companies<00:26:57.077> can,<00:26:57.462> uh,<00:26:58.264> pitch<00:26:58.504> any<00:26:58.905> VC.

00:26:59.306 --> 00:27:02.000
Yeah,<00:26:59.707> and<00:26:59.947> most<00:27:00.188> of<00:27:00.268> the<00:27:00.364> companies<00:27:00.765> I<00:27:00.829> invest<00:27:01.150> in<00:27:01.246> don't<00:27:01.407> come<00:27:01.567> from<00:27:01.792> Austin.

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Yeah,<00:27:02.690> from<00:27:02.850> somewhere<00:27:03.075> else.

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So<00:27:03.812> when<00:27:03.909> you<00:27:04.037> ask<00:27:04.213> that<00:27:04.374> question,<00:27:04.678> you<00:27:04.775> mean<00:27:04.935> like<00:27:05.159> what's<00:27:05.336> the<00:27:05.432> state<00:27:05.673> of<00:27:05.817> available<00:27:06.298> capital?

00:27:07.405 --> 00:27:14.333
Yeah,<00:27:07.661> just,<00:27:07.902> you<00:27:07.998> know,<00:27:08.688> obviously<00:27:09.089> we're<00:27:09.185> hearing<00:27:09.490> like,<00:27:09.650> hey,<00:27:10.388> heading<00:27:10.692> into<00:27:11.190> a<00:27:11.574> recession,<00:27:12.072> may<00:27:12.312> already<00:27:12.633> be<00:27:12.793> in<00:27:12.873> a<00:27:12.938> recession,<00:27:13.355> like<00:27:13.515> all<00:27:13.611> these<00:27:13.756> types<00:27:13.980> of<00:27:14.060> things.

00:27:14.862 --> 00:27:21.742
I,<00:27:15.038> I<00:27:15.119> can't<00:27:15.327> imagine<00:27:15.664> that<00:27:15.760> affects<00:27:16.081> early-stage<00:27:16.642> thinking<00:27:17.027> too<00:27:17.188> much<00:27:17.444> because,<00:27:17.925> you<00:27:18.021> know,<00:27:18.166> you're<00:27:18.310> looking<00:27:18.551> at<00:27:18.631> like<00:27:18.807> 10<00:27:19.048> years<00:27:19.994> and,<00:27:20.331> you<00:27:20.427> know,<00:27:20.571> they're<00:27:20.732> looking<00:27:20.940> at<00:27:21.036> like<00:27:21.277> quarters.

00:27:22.079 --> 00:27:25.110
But<00:27:22.400> I<00:27:22.496> am<00:27:22.656> interested<00:27:23.202> in<00:27:23.298> like,<00:27:23.618> uh,<00:27:24.003> current—<00:27:24.180> the<00:27:24.340> current<00:27:24.517> state<00:27:24.805> of<00:27:24.901> things.

00:27:25.238 --> 00:27:30.867
And<00:27:25.318> if<00:27:25.447> you've<00:27:25.543> seen<00:27:26.329> more,<00:27:27.050> uh,<00:27:27.949> get<00:27:28.109> into<00:27:28.253> the<00:27:28.333> market<00:27:29.392> shutting<00:27:29.696> down,<00:27:30.193> anything<00:27:30.498> like<00:27:30.738> that?

00:27:31.235 --> 00:27:36.573
Yeah,<00:27:31.636> so<00:27:31.780> I,<00:27:31.957> I'll<00:27:32.277> give<00:27:32.438> you<00:27:32.518> sort<00:27:32.678> of<00:27:32.758> my<00:27:32.919> macro<00:27:33.319> answer,<00:27:33.624> and<00:27:33.672> I'm<00:27:33.800> happy<00:27:34.073> to<00:27:34.121> like<00:27:34.345> get,<00:27:34.746> you<00:27:34.826> know,<00:27:34.986> more<00:27:35.147> micro<00:27:35.275> because<00:27:35.451> I<00:27:35.483> have<00:27:35.644> a<00:27:35.724> lot<00:27:35.884> of<00:27:35.980> opinions.

00:27:36.686 --> 00:27:40.725
And<00:27:36.766> I'd<00:27:36.910> say,<00:27:37.231> you<00:27:37.263> know,<00:27:37.503> I'm<00:27:37.648> not<00:27:37.808> sure<00:27:38.032> that<00:27:38.096> I<00:27:38.112> have<00:27:38.160> data<00:27:38.850> to<00:27:39.010> support<00:27:39.411> a<00:27:39.475> lot<00:27:39.667> of<00:27:39.731> them,<00:27:39.892> but<00:27:40.196> maybe<00:27:40.357> a<00:27:40.437> little<00:27:40.613> bit.

00:27:41.174 --> 00:27:46.416
But<00:27:41.511> the<00:27:41.623> macro<00:27:42.120> is<00:27:43.002> the<00:27:43.098> later<00:27:43.515> stage<00:27:43.899> your<00:27:44.044> company<00:27:44.460> is,<00:27:44.765> the<00:27:44.845> harder<00:27:45.118> it<00:27:45.262> is<00:27:45.422> to<00:27:45.518> raise<00:27:45.823> money<00:27:46.047> right<00:27:46.288> now.

00:27:46.785 --> 00:27:51.562
And<00:27:47.362> it's<00:27:47.570> still<00:27:47.811> harder<00:27:48.612> now<00:27:48.965> than<00:27:49.109> it<00:27:49.254> was<00:27:49.494> a<00:27:49.574> year<00:27:49.686> or<00:27:49.766> two<00:27:49.991> ago<00:27:50.312> for<00:27:50.536> earlier<00:27:50.792> stage<00:27:51.113> companies.

00:27:52.139 --> 00:28:04.764
But<00:27:52.235> because<00:27:52.492> you're<00:27:52.700> talking<00:27:52.973> about<00:27:53.197> smaller<00:27:53.742> checks<00:27:54.047> and<00:27:54.143> you're<00:27:54.239> talking<00:27:54.576> about<00:27:54.784> people<00:27:55.570> you<00:27:55.682> know,<00:27:56.468> um,<00:27:56.789> your<00:27:57.607> investments<00:27:58.249> tend<00:27:58.554> to—<00:27:58.650> like,<00:27:58.971> even<00:27:59.196> if,<00:27:59.533> even<00:27:59.774> if<00:27:59.854> there's<00:28:00.030> a<00:28:00.078> lot<00:28:00.271> of<00:28:00.335> data<00:28:00.576> there,<00:28:00.801> you're<00:28:00.961> still<00:28:01.202> really<00:28:02.662> investing<00:28:03.143> in<00:28:03.240> a<00:28:03.384> dream<00:28:03.785> because<00:28:04.090> there's<00:28:04.218> just<00:28:04.459> not<00:28:04.587> enough.

00:28:04.989 --> 00:28:08.727
There's<00:28:05.213> still<00:28:05.406> not<00:28:05.550> enough<00:28:06.032> data<00:28:06.353> to<00:28:06.433> say<00:28:06.673> this<00:28:06.834> is<00:28:06.914> going<00:28:07.010> to<00:28:07.075> be<00:28:07.219> a<00:28:07.235> huge<00:28:07.700> thing<00:28:07.973> in<00:28:08.118> most<00:28:08.342> cases.

00:28:09.658 --> 00:28:29.410
So<00:28:10.043> there's<00:28:10.284> still<00:28:10.926> capital<00:28:11.407> there,<00:28:11.712> and<00:28:11.792> I<00:28:11.953> think<00:28:12.129> really<00:28:12.611> good<00:28:13.188> early-stage<00:28:13.734> investors<00:28:14.360> get<00:28:14.600> this,<00:28:14.937> and<00:28:15.322> newer<00:28:15.836> early-stage<00:28:16.397> investors<00:28:17.424> maybe<00:28:17.649> don't<00:28:17.826> get<00:28:18.002> it<00:28:18.066> quite,<00:28:18.692> quite<00:28:18.852> as<00:28:19.013> much,<00:28:19.254> which<00:28:19.494> is<00:28:20.457> regardless<00:28:21.035> of<00:28:21.179> where<00:28:21.356> we<00:28:21.580> are<00:28:21.677> in<00:28:21.821> this<00:28:21.998> economic<00:28:22.479> cycle<00:28:22.864> and<00:28:23.024> regardless<00:28:23.522> of<00:28:23.602> how<00:28:23.827> long<00:28:24.084> it<00:28:24.164> lasts,<00:28:24.725> most<00:28:25.062> of<00:28:25.127> the<00:28:25.223> investments<00:28:25.833> you're<00:28:25.929> making<00:28:26.250> today<00:28:27.196> you<00:28:27.293> won't<00:28:27.533> realize<00:28:28.014> the<00:28:28.095> return<00:28:28.496> for<00:28:28.640> a<00:28:28.720> decade<00:28:29.057> or<00:28:29.218> more.

00:28:30.260 --> 00:28:36.340
Well,<00:28:30.822> we<00:28:30.982> will—<00:28:31.223> like,<00:28:31.640> if<00:28:31.784> we<00:28:31.880> are<00:28:31.961> not<00:28:32.346> out<00:28:32.506> of<00:28:32.602> it<00:28:32.747> by<00:28:32.907> then,<00:28:33.148> we've<00:28:33.308> got<00:28:33.549> way<00:28:33.709> bigger<00:28:34.030> problems<00:28:34.575> than<00:28:34.752> the<00:28:35.458> checks<00:28:35.714> you're<00:28:35.810> writing<00:28:36.035> today.

00:28:36.901 --> 00:28:45.788
And<00:28:36.981> so<00:28:37.062> I<00:28:37.238> think<00:28:37.479> really,<00:28:37.944> you<00:28:37.976> know,<00:28:38.201> my<00:28:38.425> opinion<00:28:38.762> is,<00:28:39.227> you<00:28:39.259> know,<00:28:39.404> and<00:28:39.468> this<00:28:39.725> is<00:28:40.126> my<00:28:40.254> opinion,<00:28:40.623> is<00:28:40.831> like<00:28:41.409> popular<00:28:41.890> opinion,<00:28:42.211> but<00:28:42.371> this<00:28:42.532> is<00:28:42.676> the<00:28:42.772> best<00:28:43.077> time<00:28:43.350> to<00:28:43.494> be<00:28:44.136> investing<00:28:44.681> in<00:28:44.713> early-stage<00:28:45.259> companies.

00:28:45.981 --> 00:28:53.327
This<00:28:46.141> has—<00:28:46.847> this<00:28:47.039> is<00:28:47.168> the<00:28:47.200> best<00:28:47.408> time<00:28:47.601> in<00:28:47.729> probably,<00:28:48.226> you<00:28:48.307> know,<00:28:48.627> 10<00:28:48.852> years<00:28:49.109> or<00:28:49.670> more,<00:28:50.552> since<00:28:50.793> probably<00:28:51.194> 2008<00:28:52.654> or<00:28:52.750> '09.

00:28:53.600 --> 00:28:53.905
Yeah.

00:28:54.130 --> 00:28:56.054
A<00:28:54.162> better<00:28:54.338> time<00:28:54.643> to<00:28:54.771> invest<00:28:55.124> in<00:28:55.188> early<00:28:55.300> stage<00:28:55.605> companies.

00:28:56.567 --> 00:28:58.250
Not<00:28:56.727> just<00:28:56.903> invest,<00:28:57.208> but<00:28:57.352> to<00:28:57.433> start<00:28:57.833> one,<00:28:58.074> right?

00:28:58.411 --> 00:29:02.644
Like,<00:28:58.635> this<00:28:58.715> is,<00:28:58.812> this<00:28:59.052> is<00:28:59.196> where<00:28:59.597> you<00:28:59.774> weed<00:28:59.998> out<00:29:00.319> all<00:29:00.559> the<00:29:00.896> fat<00:29:01.441> and<00:29:01.537> like<00:29:01.698> the<00:29:01.794> real<00:29:02.339> people.

00:29:03.285 --> 00:29:10.934
And<00:29:03.542> if<00:29:03.718> you<00:29:03.798> think<00:29:04.039> about<00:29:04.263> it,<00:29:04.504> I,<00:29:04.728> I<00:29:04.825> actually<00:29:05.225> love<00:29:05.450> that<00:29:05.562> there's<00:29:05.787> less<00:29:05.963> available<00:29:06.428> capital<00:29:06.909> because<00:29:07.230> it<00:29:07.374> means<00:29:07.631> that<00:29:07.935> the—<00:29:08.512> there<00:29:08.577> are<00:29:08.817> less<00:29:09.138> people,<00:29:09.555> there<00:29:09.699> are<00:29:09.779> less<00:29:10.036> entrepreneurs<00:29:10.661> out<00:29:10.837> there.

00:29:11.062 --> 00:29:13.740
They're<00:29:11.222> weeding<00:29:11.463> themselves<00:29:12.024> out<00:29:12.136> if<00:29:12.281> they're<00:29:12.425> not<00:29:12.601> obsessed<00:29:13.002> and<00:29:13.387> passionate.

00:29:13.804 --> 00:29:29.691
So<00:29:14.429> when<00:29:14.525> I'm<00:29:14.686> meeting<00:29:15.006> founders,<00:29:15.327> like,<00:29:15.423> I'm<00:29:15.552> still<00:29:15.808> vetting<00:29:16.129> for<00:29:16.273> that,<00:29:16.530> but<00:29:17.155> it's<00:29:17.396> a<00:29:17.476> lot<00:29:17.796> easier<00:29:17.989> to<00:29:18.117> get<00:29:18.310> to<00:29:19.015> those—<00:29:19.560> it<00:29:19.817> feels<00:29:20.202> easier<00:29:20.442> to<00:29:20.522> get<00:29:20.683> to<00:29:20.715> those<00:29:21.083> answers<00:29:21.420> because<00:29:22.126> If<00:29:22.206> that<00:29:22.383> person<00:29:22.704> doesn't<00:29:22.929> have<00:29:23.041> a<00:29:23.106> lot<00:29:23.282> of<00:29:23.347> personal<00:29:23.748> runway<00:29:24.069> and<00:29:24.166> a<00:29:24.294> lot<00:29:24.455> of<00:29:24.535> passion,<00:29:25.740> uh,<00:29:25.916> and<00:29:25.997> by<00:29:26.221> runway,<00:29:26.543> I<00:29:26.559> don't<00:29:26.703> necessarily<00:29:27.073> mean<00:29:27.201> cash,<00:29:27.667> but<00:29:27.747> I<00:29:27.779> mean<00:29:28.004> like<00:29:28.229> resolve<00:29:28.807> to<00:29:29.048> figure<00:29:29.289> it<00:29:29.369> out.

00:29:30.317 --> 00:29:33.144
Um,<00:29:31.216> they're<00:29:31.377> probably<00:29:31.923> not<00:29:32.196> going<00:29:32.325> to<00:29:32.405> do<00:29:32.517> something<00:29:32.887> right<00:29:32.983> now.

00:29:33.770 --> 00:29:34.107
Right.

00:29:35.071 --> 00:29:38.781
What<00:29:35.151> do<00:29:35.200> you<00:29:35.296> think<00:29:35.456> is<00:29:35.537> some<00:29:35.649> of<00:29:35.713> the<00:29:35.794> criticisms<00:29:36.436> of<00:29:36.517> VC,<00:29:36.918> which<00:29:37.095> is<00:29:37.223> like<00:29:37.464> you<00:29:37.544> only<00:29:37.721> have<00:29:38.123> two<00:29:38.347> options.

00:29:38.910 --> 00:29:42.266
You<00:29:39.022> either<00:29:39.231> need<00:29:39.343> to<00:29:39.472> go<00:29:39.632> public<00:29:40.146> at<00:29:40.211> some<00:29:40.516> point<00:29:41.351> or<00:29:41.495> get<00:29:41.640> acquired.

00:29:43.085 --> 00:29:46.683
And<00:29:43.423> you<00:29:43.455> know,<00:29:43.664> like,<00:29:43.905> what<00:29:44.001> do<00:29:44.033> you,<00:29:44.210> how<00:29:44.306> do<00:29:44.451> you<00:29:44.611> talk<00:29:44.884> about<00:29:45.173> that<00:29:45.350> with<00:29:45.495> your<00:29:45.671> portfolio<00:29:46.233> companies?

00:29:47.181 --> 00:29:47.358
Yeah.

00:29:47.438 --> 00:29:55.698
So<00:29:47.743> I<00:29:47.920> mean,<00:29:49.107> You<00:29:49.187> know,<00:29:49.348> I<00:29:49.444> think,<00:29:50.711> and<00:29:50.791> I<00:29:51.144> feel<00:29:51.432> the<00:29:51.496> same<00:29:51.753> way,<00:29:51.994> like<00:29:52.170> good<00:29:52.330> VCs,<00:29:52.731> like<00:29:52.827> at<00:29:52.891> the<00:29:52.988> end<00:29:53.068> of<00:29:53.196> the<00:29:53.276> day,<00:29:53.453> our<00:29:53.677> job<00:29:54.014> is<00:29:54.174> to<00:29:54.639> make<00:29:54.816> money<00:29:55.072> for<00:29:55.313> our<00:29:55.361> LPs.

00:29:55.778 --> 00:29:56.981
That<00:29:56.018> is<00:29:56.179> for<00:29:56.660> sure.

00:29:57.205 --> 00:29:57.911
Oh<00:29:57.301> yeah.

00:29:58.488 --> 00:30:08.141
Um,<00:29:58.760> so<00:29:59.386> I<00:29:59.530> think<00:30:00.813> I,<00:30:01.470> I,<00:30:01.871> I<00:30:02.016> don't<00:30:02.336> have<00:30:02.577> an<00:30:02.817> issue<00:30:03.619> at<00:30:03.940> all<00:30:04.517> with,<00:30:05.223> with<00:30:05.479> investors<00:30:06.121> thinking<00:30:06.377> that<00:30:06.586> way,<00:30:06.922> and<00:30:07.083> I<00:30:07.163> certainly<00:30:07.484> think<00:30:07.708> that<00:30:07.869> way<00:30:07.965> too.

00:30:08.205 --> 00:30:09.648
This<00:30:08.382> isn't<00:30:08.606> charity<00:30:08.991> work,<00:30:09.392> you<00:30:09.424> know.

00:30:09.729 --> 00:30:09.905
Yeah.

00:30:10.530 --> 00:30:25.635
However,<00:30:11.493> I<00:30:11.637> think<00:30:12.214> that<00:30:12.519> anyone<00:30:13.000> who<00:30:13.096> focuses<00:30:13.882> on<00:30:14.203> what<00:30:14.379> the<00:30:14.603> exit<00:30:15.020> is<00:30:16.383> especially<00:30:17.265> at,<00:30:17.570> you<00:30:17.602> know,<00:30:17.987> early<00:30:18.163> stage,<00:30:18.628> but<00:30:18.788> really<00:30:19.109> like<00:30:19.590> even<00:30:19.831> if<00:30:19.911> you<00:30:20.055> haven't<00:30:20.312> raised<00:30:20.616> your<00:30:20.696> Series<00:30:20.969> C<00:30:21.338> yet,<00:30:21.851> if<00:30:21.979> you're,<00:30:22.620> if<00:30:22.701> you're<00:30:22.957> thinking<00:30:23.278> about<00:30:23.582> an<00:30:23.679> exit,<00:30:24.144> you're<00:30:24.320> thinking<00:30:24.625> about<00:30:24.881> the<00:30:25.042> wrong<00:30:25.426> thing.

00:30:26.485 --> 00:30:37.452
Because<00:30:27.126> in<00:30:27.206> my<00:30:27.447> experience,<00:30:28.473> when<00:30:28.633> you<00:30:28.713> focus<00:30:29.130> on<00:30:29.275> delivering<00:30:30.172> great<00:30:30.814> product<00:30:31.231> and<00:30:31.375> product<00:30:31.599> experience<00:30:32.818> and<00:30:33.059> value<00:30:33.764> to<00:30:34.005> your<00:30:34.165> customers,<00:30:35.528> you<00:30:35.624> will<00:30:35.784> build<00:30:36.025> a<00:30:36.169> long-term<00:30:36.602> sustainable<00:30:37.147> business.

00:30:37.548 --> 00:30:43.609
And<00:30:37.628> when<00:30:37.724> you<00:30:37.869> do<00:30:38.013> that<00:30:38.270> really,<00:30:38.590> really<00:30:38.975> well,<00:30:40.258> um,<00:30:40.675> there<00:30:40.819> will<00:30:40.915> be<00:30:41.156> lots<00:30:41.540> and<00:30:41.637> lots<00:30:41.893> of<00:30:42.037> opportunities<00:30:42.743> for<00:30:42.823> liquidity<00:30:43.320> events.

00:30:44.122 --> 00:30:46.130
Mm-hmm.

00:30:46.259 --> 00:30:46.596
Yeah.

00:30:46.757 --> 00:30:48.797
And<00:30:46.821> how<00:30:46.950> do<00:30:46.998> you<00:30:47.158> think<00:30:47.271> about<00:30:47.576> leadership<00:30:48.138> at<00:30:48.219> the<00:30:48.379> early<00:30:48.556> stage?

00:30:48.942 --> 00:30:50.179
Leadership<00:30:49.279> is<00:30:49.408> an<00:30:49.568> interesting<00:30:50.050> thing.

00:30:50.371 --> 00:30:54.934
You<00:30:50.468> touched<00:30:50.725> on<00:30:50.853> that<00:30:50.950> a<00:30:51.014> little<00:30:51.175> bit<00:30:51.287> earlier,<00:30:52.219> like,<00:30:52.412> hey,<00:30:53.359> how<00:30:53.520> do<00:30:53.600> they<00:30:53.825> lead<00:30:54.002> themselves?

00:30:55.126 --> 00:30:56.572
Can<00:30:55.287> they<00:30:55.512> recruit<00:30:55.994> talent?

00:30:56.637 --> 00:31:01.665
Can<00:30:56.733> they,<00:30:57.038> you<00:30:57.070> know,<00:30:58.018> be<00:30:58.179> somebody<00:30:58.516> that<00:30:58.902> could<00:30:59.062> be<00:30:59.207> followed<00:30:59.882> and<00:31:00.010> people<00:31:00.171> would<00:31:00.347> be<00:31:00.492> excited<00:31:00.829> to<00:31:00.974> work<00:31:01.215> with<00:31:01.392> them?

00:31:02.179 --> 00:31:03.335
How<00:31:02.291> does<00:31:02.516> it<00:31:02.613> evolve,<00:31:03.239> though?

00:31:03.785 --> 00:31:07.046
Because<00:31:03.898> it<00:31:04.026> does<00:31:04.283> evolve<00:31:04.749> from<00:31:04.926> like<00:31:05.086> the<00:31:05.247> early<00:31:05.472> stage<00:31:05.713> where<00:31:05.809> you're<00:31:05.986> like<00:31:06.211> doing<00:31:06.436> everything.

00:31:07.336 --> 00:31:07.512
Yeah.

00:31:07.576 --> 00:31:16.779
And<00:31:07.657> then<00:31:07.817> as<00:31:07.978> you're<00:31:08.219> like<00:31:08.444> growing,<00:31:08.765> like<00:31:08.942> you,<00:31:09.360> and<00:31:09.681> sometimes<00:31:10.131> you're<00:31:10.709> the<00:31:10.870> right,<00:31:11.336> the<00:31:11.432> person<00:31:11.753> who's<00:31:11.994> the<00:31:12.074> CEO<00:31:12.556> at<00:31:12.636> the<00:31:12.716> beginning,<00:31:14.306> it<00:31:14.402> sometimes<00:31:14.804> isn't<00:31:14.964> the<00:31:15.045> right<00:31:15.221> CEO,<00:31:16.072> uh,<00:31:16.329> towards<00:31:16.570> the<00:31:16.650> end.

00:31:17.052 --> 00:31:17.614
Yeah,<00:31:17.437> yeah.

00:31:17.694 --> 00:31:19.300
And<00:31:17.838> that,<00:31:18.079> I<00:31:18.095> mean,<00:31:18.256> that,<00:31:18.497> that<00:31:18.673> is<00:31:18.818> a<00:31:18.898> real<00:31:19.123> thing.

00:31:19.364 --> 00:31:27.232
I<00:31:19.380> would<00:31:19.540> say,<00:31:19.846> you<00:31:19.926> know,<00:31:20.167> that<00:31:20.889> I,<00:31:21.210> I<00:31:21.387> take<00:31:21.628> the<00:31:21.724> stance,<00:31:22.270> and<00:31:22.334> then<00:31:22.591> as<00:31:22.736> I<00:31:22.832> think<00:31:22.993> about<00:31:23.234> it,<00:31:23.314> like,<00:31:23.506> do<00:31:23.619> I<00:31:23.715> believe<00:31:24.036> that<00:31:24.197> the<00:31:24.357> person<00:31:24.582> who<00:31:24.679> I'm<00:31:24.839> investing<00:31:25.305> in,<00:31:25.401> do<00:31:25.481> I<00:31:25.562> think<00:31:26.124> they<00:31:26.284> can<00:31:26.509> take<00:31:26.670> this<00:31:26.846> to<00:31:27.007> the<00:31:27.151> end?

00:31:27.328 --> 00:31:30.331
Even<00:31:27.505> if<00:31:27.649> they<00:31:27.954> couldn't<00:31:28.211> do<00:31:28.372> it<00:31:28.452> today,<00:31:29.158> do<00:31:29.191> I<00:31:29.255> think<00:31:29.480> they<00:31:29.576> can<00:31:29.736> evolve<00:31:30.074> to<00:31:30.202> that?

00:31:30.459 --> 00:31:36.528
And<00:31:30.555> sometimes<00:31:30.957> I'm<00:31:31.422> wrong<00:31:31.663> there,<00:31:31.984> and<00:31:32.097> sometimes<00:31:32.273> I'm<00:31:32.450> right<00:31:32.627> there,<00:31:33.333> and<00:31:33.381> sometimes<00:31:33.831> I'm<00:31:34.457> wrong<00:31:34.698> where<00:31:34.778> I<00:31:34.875> thought<00:31:35.115> I<00:31:35.180> was<00:31:35.340> right,<00:31:35.661> right<00:31:35.822> where<00:31:35.902> I<00:31:35.982> thought<00:31:36.143> I<00:31:36.159> was<00:31:36.320> wrong.

00:31:37.186 --> 00:31:48.535
Um,<00:31:37.843> there<00:31:38.004> are<00:31:38.308> also<00:31:38.565> firms<00:31:39.366> that,<00:31:40.248> you<00:31:40.296> know,<00:31:40.905> invest<00:31:41.450> early<00:31:41.755> with<00:31:41.835> the<00:31:41.931> intention<00:31:42.396> of<00:31:42.492> replacing<00:31:42.973> a<00:31:42.989> CEO<00:31:43.454> at<00:31:43.550> a<00:31:43.614> certain<00:31:43.999> point,<00:31:44.095> which<00:31:44.255> I,<00:31:45.201> I<00:31:45.281> know<00:31:45.457> a<00:31:45.538> couple<00:31:45.762> like<00:31:45.938> that<00:31:46.099> locally,<00:31:46.499> and<00:31:46.579> I<00:31:46.756> don't<00:31:47.140> get<00:31:47.381> that<00:31:47.557> mindset<00:31:48.263> at<00:31:48.487> all.

00:31:49.609 --> 00:31:54.674
Um,<00:31:50.106> and,<00:31:50.491> you<00:31:50.571> know,<00:31:50.683> and<00:31:50.763> then<00:31:50.907> I<00:31:50.972> think<00:31:51.148> there's<00:31:51.388> PE,<00:31:51.933> which<00:31:52.991> most<00:31:53.312> of<00:31:53.392> the<00:31:53.504> time<00:31:53.777> they<00:31:53.937> do<00:31:54.033> replace<00:31:54.306> the<00:31:54.354> CEO.

00:31:54.755 --> 00:31:56.726
That<00:31:54.899> is<00:31:54.995> part<00:31:55.171> of<00:31:55.251> their<00:31:55.636> playbooks<00:31:56.037> in<00:31:56.117> many<00:31:56.341> cases.

00:31:57.383 --> 00:32:10.327
Um,<00:31:58.025> but<00:31:58.281> I<00:31:58.441> think,<00:31:59.147> you<00:31:59.179> know,<00:32:00.205> I<00:32:00.349> think<00:32:00.605> that<00:32:00.766> great<00:32:01.551> people,<00:32:02.064> if<00:32:02.208> they<00:32:02.449> choose<00:32:02.914> to<00:32:03.074> evolve<00:32:04.052> to<00:32:05.004> whatever<00:32:05.407> that<00:32:05.649> means,<00:32:07.182> they<00:32:07.424> will<00:32:08.085> figure<00:32:08.488> it<00:32:08.634> out<00:32:08.730> like<00:32:08.892> they<00:32:09.134> figure<00:32:09.440> everything<00:32:09.924> else<00:32:10.182> out.

00:32:10.811 --> 00:32:14.265
And<00:32:11.376> if<00:32:11.489> they<00:32:11.715> choose<00:32:12.199> not<00:32:12.457> to—<00:32:13.473> I'm<00:32:13.683> not<00:32:13.780> saying<00:32:13.893> it's<00:32:14.039> easy.

00:32:14.783 --> 00:32:14.945
Yeah.

00:32:15.253 --> 00:32:18.085
You<00:32:15.285> know,<00:32:15.512> but<00:32:15.657> if<00:32:15.738> they<00:32:15.900> choose<00:32:16.321> not<00:32:16.629> to,<00:32:16.726> that<00:32:16.952> is<00:32:17.357> also<00:32:17.535> okay.

00:32:19.792 --> 00:32:31.295
But<00:32:20.906> where<00:32:21.067> I<00:32:21.261> see<00:32:21.567> the<00:32:21.729> biggest<00:32:22.051> challenge<00:32:22.681> is<00:32:23.487> when<00:32:23.584> they're<00:32:24.375> not<00:32:24.697> necessarily<00:32:25.423> choosing<00:32:25.924> to<00:32:26.149> evolve,<00:32:26.875> but<00:32:27.037> they<00:32:27.214> want<00:32:27.456> to<00:32:27.602> stay<00:32:27.860> in<00:32:27.924> the<00:32:28.086> role<00:32:28.973> and<00:32:29.070> it's<00:32:29.378> more<00:32:29.624> ego-driven<00:32:30.279> than<00:32:31.016> learning-driven.

00:32:32.246 --> 00:32:34.045
Yeah,<00:32:32.808> usually<00:32:33.065> where<00:32:33.242> the<00:32:33.402> issue<00:32:33.708> evolves.

00:32:34.109 --> 00:32:39.809
But,<00:32:34.286> you<00:32:34.430> know,<00:32:34.494> I<00:32:34.655> think,<00:32:36.277> you<00:32:36.598> know,<00:32:36.758> I've<00:32:36.919> tried<00:32:37.160> really,<00:32:37.465> again,<00:32:37.882> really<00:32:38.107> hard<00:32:38.268> to<00:32:38.348> find<00:32:38.525> people<00:32:38.830> that<00:32:38.926> I<00:32:39.070> think<00:32:39.231> are<00:32:39.263> self-aware.

00:32:39.905 --> 00:32:48.480
So<00:32:40.130> they're<00:32:40.291> like,<00:32:40.516> okay,<00:32:41.254> I<00:32:41.270> don't<00:32:41.479> want<00:32:41.640> to<00:32:41.720> actually<00:32:41.977> learn<00:32:42.202> what<00:32:42.298> this<00:32:42.474> is<00:32:42.603> like,<00:32:42.796> it's<00:32:42.940> time<00:32:43.245> for<00:32:43.406> me<00:32:43.502> to<00:32:43.647> replace<00:32:44.048> myself,<00:32:44.530> or<00:32:44.610> I've<00:32:44.787> capped<00:32:45.092> out,<00:32:45.204> I'm<00:32:45.333> not<00:32:45.493> able<00:32:45.702> to<00:32:45.750> do<00:32:45.911> this<00:32:46.071> anymore,<00:32:46.328> let's<00:32:46.553> go<00:32:46.697> find—<00:32:47.179> let<00:32:47.356> me<00:32:47.436> get<00:32:47.597> the<00:32:47.677> right<00:32:47.837> kind<00:32:48.014> of<00:32:48.142> help.

00:32:49.347 --> 00:32:58.083
Um,<00:32:50.069> or,<00:32:50.792> you<00:32:50.872> know,<00:32:51.049> putting<00:32:51.306> in<00:32:51.434> the<00:32:51.530> work<00:32:51.868> and<00:32:51.932> getting<00:32:52.173> a<00:32:52.253> coach<00:32:52.654> and<00:32:52.799> taking<00:32:53.056> classes<00:32:53.473> or<00:32:53.602> whatever<00:32:53.939> it<00:32:54.019> is,<00:32:54.244> the<00:32:54.340> things<00:32:54.661> that,<00:32:55.127> that<00:32:55.304> they<00:32:55.448> need<00:32:55.625> to<00:32:55.785> do<00:32:56.187> in<00:32:56.267> order<00:32:56.508> to<00:32:56.669> evolve<00:32:57.054> with<00:32:57.214> the,<00:32:57.311> with<00:32:57.697> with<00:32:57.793> the<00:32:57.954> role.

00:32:59.066 --> 00:33:06.669
And<00:32:59.388> I<00:32:59.404> was<00:32:59.549> gonna<00:32:59.646> say<00:32:59.871> one<00:33:00.048> more<00:33:00.209> thing<00:33:00.451> about<00:33:00.693> that,<00:33:01.160> and<00:33:05.187> then<00:33:05.235> I<00:33:05.267> remember<00:33:05.750> what<00:33:05.863> it<00:33:06.540> was.

00:33:06.717 --> 00:33:08.249
Maybe<00:33:07.201> we'll<00:33:07.620> come<00:33:07.781> back<00:33:08.007> to<00:33:08.104> it.

00:33:09.313 --> 00:33:11.345
I<00:33:09.394> wonder<00:33:09.781> also<00:33:10.039> just<00:33:10.265> about<00:33:10.507> the<00:33:10.539> state<00:33:10.845> of<00:33:10.942> Austin.

00:33:12.657 --> 00:33:15.147
Austin's<00:33:13.077> like<00:33:13.255> this<00:33:13.481> beautiful,<00:33:14.371> incredible<00:33:14.856> city.

00:33:15.260 --> 00:33:16.829
It's<00:33:15.422> hard<00:33:15.648> to<00:33:15.826> leave<00:33:16.150> when<00:33:16.312> you<00:33:16.457> go<00:33:16.700> there.

00:33:17.686 --> 00:33:19.805
But<00:33:17.832> what<00:33:18.074> is<00:33:18.252> the<00:33:18.640> tech<00:33:18.899> community<00:33:19.546> like?

00:33:20.193 --> 00:33:21.373
Is<00:33:20.355> it<00:33:20.840> growing?

00:33:21.632 --> 00:33:22.539
And<00:33:21.729> you've<00:33:21.810> got<00:33:21.940> like<00:33:22.199> Elon<00:33:22.442> there.

00:33:22.863 --> 00:33:31.633
So<00:33:22.927> you<00:33:23.008> guys—<00:33:23.656> Austin's<00:33:23.915> like<00:33:24.077> a<00:33:24.158> really<00:33:24.466> interesting<00:33:25.356> ecosystem<00:33:26.036> because<00:33:26.328> you've<00:33:26.506> got<00:33:27.568> Elon,<00:33:27.985> you've<00:33:28.130> got<00:33:28.387> Dell,<00:33:28.628> you've<00:33:28.708> got<00:33:28.885> a<00:33:29.014> lot<00:33:29.206> of<00:33:29.271> like<00:33:29.576> major<00:33:30.074> tech<00:33:30.315> companies<00:33:30.669> setting<00:33:31.022> up<00:33:31.119> shop<00:33:31.520> there.

00:33:32.163 --> 00:33:33.464
Isn't<00:33:32.388> Oracle<00:33:33.191> there?

00:33:33.995 --> 00:33:37.321
Um,<00:33:34.878> maybe<00:33:35.071> Salesforce<00:33:35.698> is<00:33:36.099> there<00:33:36.244> as<00:33:36.324> well,<00:33:36.662> I<00:33:36.742> can't<00:33:36.839> remember.

00:33:37.385 --> 00:33:38.992
But<00:33:37.626> any—<00:33:38.028> I<00:33:38.108> mean,<00:33:38.413> yeah,<00:33:38.734> yeah.

00:33:39.168 --> 00:33:41.595
Tell<00:33:39.377> me<00:33:39.538> what<00:33:39.779> you—<00:33:39.956> tell<00:33:40.100> me<00:33:40.277> what's<00:33:40.518> going<00:33:40.743> on<00:33:40.839> in<00:33:40.984> Austin<00:33:41.305> right<00:33:41.402> now.

00:33:42.751 --> 00:33:56.305
Um,<00:33:43.635> you<00:33:43.667> know,<00:33:43.796> I<00:33:43.972> think<00:33:44.599> that<00:33:45.178> there's<00:33:45.483> a<00:33:45.563> lot<00:33:45.740> of<00:33:45.885> reasons<00:33:46.286> why<00:33:46.929> Texas<00:33:47.813> has<00:33:48.150> become<00:33:48.552> an<00:33:48.632> attractive<00:33:49.178> place<00:33:49.516> to,<00:33:49.901> you<00:33:49.934> know,<00:33:50.239> to,<00:33:50.641> to<00:33:50.801> build<00:33:51.042> a<00:33:51.123> business,<00:33:51.669> that,<00:33:51.829> you<00:33:51.942> know,<00:33:52.006> there's<00:33:52.167> a,<00:33:52.569> there's<00:33:52.745> a<00:33:52.810> lot<00:33:53.035> of<00:33:53.516> Reasons<00:33:53.853> for<00:33:53.933> business<00:33:54.253> to<00:33:54.350> move<00:33:54.478> here<00:33:54.558> for<00:33:54.718> tax<00:33:55.616> purposes.

00:33:56.883 --> 00:34:01.740
As<00:33:56.979> an<00:33:57.123> individual,<00:33:57.764> we,<00:33:57.925> you<00:33:58.005> know,<00:33:58.085> there's<00:33:58.261> no<00:33:58.357> state<00:33:58.678> income<00:33:58.983> tax,<00:33:59.303> so<00:33:59.544> it's<00:33:59.864> more<00:34:00.506> money<00:34:00.666> making<00:34:01.002> the<00:34:01.083> same<00:34:01.467> money<00:34:01.692> here.

00:34:01.788 --> 00:34:03.920
So<00:34:02.189> it's<00:34:02.349> attractive<00:34:02.830> from<00:34:02.990> that<00:34:03.231> perspective.

00:34:04.818 --> 00:34:15.334
And,<00:34:05.619> um,<00:34:05.796> I<00:34:05.956> think,<00:34:06.517> you<00:34:06.597> know,<00:34:06.822> Austin,<00:34:08.040> it<00:34:08.281> has<00:34:08.441> definitely<00:34:08.761> evolved,<00:34:09.242> but<00:34:09.323> there's<00:34:09.627> a,<00:34:09.948> there's<00:34:10.525> a<00:34:10.605> vibe<00:34:11.006> and<00:34:11.150> an<00:34:11.246> energy<00:34:11.727> here<00:34:11.968> that<00:34:12.144> has<00:34:12.352> been<00:34:12.529> here<00:34:12.930> long<00:34:13.250> before,<00:34:14.324> long<00:34:14.388> before<00:34:14.693> I<00:34:14.837> got<00:34:15.078> here.

00:34:15.895 --> 00:34:20.480
That<00:34:16.120> is,<00:34:16.761> you<00:34:16.793> know,<00:34:17.098> the<00:34:17.178> motto,<00:34:18.124> you<00:34:18.156> know,<00:34:18.284> maybe<00:34:18.444> it<00:34:18.540> still<00:34:18.781> is,<00:34:19.005> but<00:34:19.085> the<00:34:19.118> motto<00:34:19.422> is<00:34:19.502> keep<00:34:19.807> Austin<00:34:20.208> weird.

00:34:20.544 --> 00:34:32.756
And<00:34:20.592> I<00:34:20.608> don't<00:34:20.785> know<00:34:21.041> if<00:34:21.169> Austin<00:34:21.442> is<00:34:21.506> so<00:34:21.731> much<00:34:22.067> weird<00:34:22.308> anymore,<00:34:22.708> but<00:34:22.869> there<00:34:23.013> is<00:34:23.125> certainly<00:34:23.895> a<00:34:25.740> a<00:34:25.981> really<00:34:27.025> deep<00:34:27.282> thread<00:34:28.148> of,<00:34:28.951> um,<00:34:29.914> it<00:34:30.011> is<00:34:30.235> okay<00:34:30.894> to<00:34:31.118> be<00:34:31.439> uniquely<00:34:31.937> yourself<00:34:32.579> here.

00:34:33.446 --> 00:34:39.081
And<00:34:34.008> that,<00:34:34.201> I<00:34:34.265> think,<00:34:34.522> fits<00:34:34.971> well<00:34:35.453> with<00:34:35.790> entrepreneurs<00:34:36.577> who<00:34:36.737> always<00:34:37.058> are<00:34:37.138> a<00:34:37.235> little<00:34:37.459> bit<00:34:37.620> different<00:34:37.941> than<00:34:38.118> the<00:34:38.198> people<00:34:38.535> around<00:34:38.824> them.

00:34:39.579 --> 00:34:39.787
Yeah.

00:34:40.108 --> 00:34:42.067
And<00:34:40.301> so<00:34:40.767> it<00:34:40.911> becomes<00:34:41.232> an<00:34:41.312> attractive<00:34:41.730> place<00:34:41.954> to<00:34:41.987> be.

00:34:42.131 --> 00:34:49.018
Plus<00:34:42.516> there's,<00:34:42.757> you<00:34:42.837> know,<00:34:42.998> like,<00:34:43.480> from<00:34:43.656> an<00:34:43.736> environmental<00:34:44.363> perspective,<00:34:45.807> um,<00:34:45.984> by<00:34:46.144> environmental<00:34:46.690> I<00:34:46.722> mean<00:34:46.947> like,<00:34:47.493> uh,<00:34:47.814> you<00:34:48.007> know,<00:34:48.231> things<00:34:48.472> to<00:34:48.536> do<00:34:48.697> outside.

00:34:49.114 --> 00:34:53.733
Like,<00:34:49.275> we're<00:34:49.419> right<00:34:49.612> at<00:34:49.740> the<00:34:49.837> base<00:34:50.158> of,<00:34:50.318> you<00:34:50.367> know,<00:34:50.559> there's<00:34:50.800> no<00:34:51.025> mountains<00:34:51.362> in<00:34:51.586> Texas,<00:34:51.922> but<00:34:52.147> we're<00:34:52.243> right<00:34:52.403> at<00:34:52.483> the<00:34:52.563> base<00:34:52.884> of<00:34:53.349> foothills.

00:34:53.829 --> 00:34:56.697
So,<00:34:54.310> you<00:34:54.390> know,<00:34:54.470> half<00:34:54.727> of<00:34:54.807> Austin<00:34:55.127> is<00:34:55.271> flat,<00:34:55.608> half<00:34:55.848> of<00:34:55.992> Austin<00:34:56.265> is<00:34:56.409> hilly.

00:34:56.906 --> 00:34:58.059
It's<00:34:57.210> very<00:34:57.595> green.

00:34:58.652 --> 00:35:00.671
There's<00:34:58.813> a<00:34:58.877> lot<00:34:59.069> of<00:34:59.133> things<00:34:59.453> to<00:34:59.614> do<00:34:59.838> outside.

00:35:00.880 --> 00:35:05.558
You<00:35:00.960> know,<00:35:01.392> it's<00:35:01.777> the<00:35:01.857> weather,<00:35:02.498> you<00:35:02.578> know,<00:35:03.043> our,<00:35:03.603> our<00:35:03.780> winter<00:35:04.244> for<00:35:04.405> you<00:35:04.661> is,<00:35:04.885> you<00:35:04.917> know,<00:35:05.126> summer.

00:35:06.007 --> 00:35:06.664
Yeah.

00:35:06.824 --> 00:35:15.445
But<00:35:07.000> it's<00:35:07.145> a<00:35:07.225> lot<00:35:07.401> easier<00:35:07.866> to,<00:35:08.186> you<00:35:08.266> know,<00:35:08.362> suck<00:35:08.667> it<00:35:08.747> up<00:35:08.907> and<00:35:08.987> go<00:35:09.148> outside<00:35:09.692> and<00:35:09.853> figure<00:35:10.093> out<00:35:10.253> ways<00:35:10.494> to<00:35:10.574> do<00:35:10.750> that,<00:35:11.054> you<00:35:11.086> know,<00:35:11.647> in<00:35:12.032> the<00:35:12.192> early<00:35:12.368> mornings<00:35:12.817> in<00:35:12.977> the<00:35:13.009> summertime<00:35:13.634> and<00:35:13.955> enjoy<00:35:15.060> the<00:35:15.140> outdoors.

00:35:15.493 --> 00:35:21.349
So<00:35:15.637> we<00:35:15.797> really<00:35:16.102> have<00:35:16.374> a<00:35:16.518> 12-month-of-the-year<00:35:17.384> climate<00:35:17.944> here,<00:35:18.105> even<00:35:18.281> though<00:35:18.730> you<00:35:18.842> know,<00:35:19.003> arguably<00:35:19.629> the<00:35:19.661> summers<00:35:20.015> are<00:35:20.433> hot<00:35:20.931> and<00:35:21.076> hard.

00:35:21.734 --> 00:35:21.911
Yeah.

00:35:22.281 --> 00:35:23.871
Um,<00:35:22.618> but<00:35:22.715> we<00:35:22.795> have<00:35:22.940> 12-month-a-year<00:35:23.566> climate.

00:35:23.952 --> 00:35:26.876
So<00:35:23.984> yeah,<00:35:24.225> it's<00:35:24.337> just,<00:35:24.434> you<00:35:24.466> know,<00:35:24.562> the<00:35:24.675> music<00:35:24.948> scene<00:35:25.189> is<00:35:25.334> great,<00:35:25.735> the<00:35:25.912> art<00:35:26.073> scene<00:35:26.378> is<00:35:26.539> great.

00:35:27.583 --> 00:35:31.070
When<00:35:27.680> I<00:35:27.824> moved<00:35:28.017> here,<00:35:28.162> the<00:35:28.242> food<00:35:28.483> was<00:35:28.644> not<00:35:29.287> that<00:35:29.528> great,<00:35:29.769> but<00:35:29.929> it<00:35:29.994> has<00:35:30.170> become<00:35:30.572> excellent.

00:35:31.777 --> 00:35:33.802
Yeah,<00:35:32.002> it's<00:35:32.179> known<00:35:32.500> for<00:35:32.886> incredible<00:35:33.545> food.

00:35:34.011 --> 00:35:34.332
Yeah.

00:35:35.152 --> 00:35:35.296
Yeah.

00:35:35.377 --> 00:35:39.056
Uh,<00:35:35.698> now,<00:35:36.180> and<00:35:36.277> yeah,<00:35:36.582> you<00:35:36.662> have<00:35:36.839> 6th<00:35:37.192> Street,<00:35:37.626> which<00:35:37.803> is<00:35:38.510> quite<00:35:38.687> the<00:35:38.767> place.

00:35:39.410 --> 00:35:39.683
Yeah.

00:35:39.956 --> 00:35:48.516
Uh,<00:35:40.519> but,<00:35:40.840> uh,<00:35:41.403> I<00:35:41.644> also<00:35:41.901> wonder,<00:35:42.142> like,<00:35:42.768> how<00:35:42.961> is<00:35:43.106> South<00:35:43.427> by<00:35:43.588> Southwest<00:35:44.836> helped<00:35:45.902> the<00:35:46.208> ecosystem,<00:35:46.870> particularly<00:35:47.370> around<00:35:47.516> tech,<00:35:47.774> or<00:35:47.919> has<00:35:48.177> it<00:35:48.258> at<00:35:48.387> all?

00:35:48.807 --> 00:35:52.019
Or,<00:35:49.352> I<00:35:49.372> mean,<00:35:49.517> that<00:35:49.695> thing's<00:35:49.921> become<00:35:50.260> this<00:35:50.502> global<00:35:50.905> event,<00:35:51.696> and<00:35:51.793> I<00:35:51.874> don't—.

00:35:52.035 --> 00:36:10.220
I'm<00:35:52.196> not<00:35:52.358> sure<00:35:52.519> the<00:35:52.664> founders<00:35:53.084> intended<00:35:53.423> it<00:35:53.568> to<00:35:53.649> be<00:35:53.810> that<00:35:53.940> way,<00:35:54.134> but<00:35:54.231> yeah,<00:35:55.977> I<00:35:56.074> think,<00:35:58.403> I<00:35:58.484> think<00:35:58.759> it<00:35:58.888> has<00:35:59.454> probably,<00:36:00.425> you<00:36:00.457> know,<00:36:00.603> and<00:36:00.764> it's<00:36:00.991> not<00:36:01.152> just<00:36:01.363> South<00:36:01.573> by,<00:36:01.654> there's<00:36:01.896> a<00:36:01.977> few<00:36:02.204> things<00:36:02.446> that<00:36:02.543> have<00:36:02.689> done<00:36:02.786> this<00:36:02.948> well,<00:36:03.109> but<00:36:03.271> I<00:36:03.320> think<00:36:03.919> the<00:36:04.064> thing<00:36:04.388> that<00:36:04.583> South<00:36:04.971> by<00:36:05.198> has,<00:36:05.522> because<00:36:05.862> South<00:36:06.169> by<00:36:06.267> has<00:36:06.574> grown,<00:36:06.914> I<00:36:06.995> don't<00:36:07.254> know,<00:36:07.562> like,<00:36:08.193> that<00:36:08.372> in<00:36:08.436> and<00:36:08.517> of<00:36:08.614> itself<00:36:09.019> is<00:36:09.165> not<00:36:09.343> why<00:36:09.505> people<00:36:09.813> come<00:36:09.991> to<00:36:10.060> Austin.

00:36:10.332 --> 00:36:21.026
But<00:36:10.429> I<00:36:10.557> think—<00:36:11.216> and,<00:36:11.376> and<00:36:11.537> by<00:36:11.681> the<00:36:11.762> way,<00:36:12.099> when<00:36:12.259> South<00:36:12.500> by<00:36:12.580> Southwest<00:36:12.998> is<00:36:13.126> happening<00:36:13.945> and<00:36:14.025> people<00:36:14.250> are<00:36:14.411> here,<00:36:14.893> they're<00:36:15.133> experiencing<00:36:15.695> a<00:36:15.792> very<00:36:16.113> different<00:36:16.514> Austin<00:36:16.835> than<00:36:16.980> the<00:36:17.076> rest<00:36:17.253> of<00:36:17.317> the<00:36:17.558> year<00:36:17.799> because,<00:36:18.200> yeah,<00:36:18.618> a<00:36:18.666> couple<00:36:18.826> hundred<00:36:19.051> thousand<00:36:19.324> people<00:36:19.645> here<00:36:19.886> that<00:36:20.031> are<00:36:20.127> packed<00:36:20.448> into<00:36:20.673> downtown.

00:36:21.090 --> 00:36:24.703
Like,<00:36:21.668> our<00:36:21.813> downtowns<00:36:22.295> don't<00:36:22.519> look<00:36:22.680> like<00:36:23.001> what<00:36:23.097> they<00:36:23.258> look<00:36:23.419> like<00:36:23.643> next—<00:36:23.884> starting<00:36:24.205> next<00:36:24.382> week.

00:36:25.185 --> 00:36:32.442
But<00:36:25.506> I<00:36:25.570> think<00:36:25.827> the<00:36:25.988> thing<00:36:26.212> that<00:36:26.373> it<00:36:26.469> does<00:36:26.790> is<00:36:27.192> it,<00:36:27.497> you<00:36:27.577> know,<00:36:27.738> brings<00:36:27.995> people<00:36:28.300> here<00:36:28.460> that<00:36:28.557> maybe<00:36:28.942> weren't<00:36:29.199> here<00:36:29.440> before,<00:36:30.403> puts<00:36:30.628> them<00:36:30.740> in<00:36:30.821> an<00:36:30.965> environment<00:36:31.447> that<00:36:31.672> is<00:36:32.089> fun.

00:36:32.908 --> 00:36:39.117
So<00:36:33.293> inherently<00:36:33.775> they're<00:36:34.080> having<00:36:34.417> a<00:36:34.578> good<00:36:34.819> time<00:36:35.686> and<00:36:35.766> they're<00:36:35.926> exposed<00:36:36.487> to<00:36:37.225> what<00:36:37.385> is<00:36:37.546> a<00:36:37.770> really<00:36:38.107> cool<00:36:38.492> place,<00:36:38.989> right?

00:36:39.310 --> 00:36:41.891
And,<00:36:39.694> you<00:36:39.775> know,<00:36:39.871> South<00:36:40.111> by<00:36:40.208> Southwest<00:36:40.608> started<00:36:40.993> as<00:36:41.154> a<00:36:41.170> music<00:36:41.635> thing.

00:36:41.939 --> 00:36:51.400
It<00:36:42.052> is<00:36:42.917> at<00:36:42.998> its<00:36:43.302> core,<00:36:44.200> you<00:36:44.280> know,<00:36:44.344> I<00:36:44.745> realize<00:36:45.082> that<00:36:45.242> tech<00:36:45.467> has<00:36:45.627> become<00:36:45.884> much<00:36:46.124> bigger,<00:36:46.509> but<00:36:47.070> like<00:36:48.530> the<00:36:48.674> thing<00:36:48.930> that<00:36:49.155> revolves<00:36:49.588> around<00:36:49.876> all<00:36:49.957> the<00:36:50.053> tech<00:36:50.229> stuff<00:36:50.550> is<00:36:50.758> music,<00:36:51.191> right?

00:36:51.480 --> 00:36:56.210
Yeah,<00:36:52.121> you<00:36:52.202> can't<00:36:52.378> go<00:36:52.538> anywhere<00:36:53.324> without<00:36:53.581> hearing,<00:36:53.885> you<00:36:53.965> know,<00:36:54.222> 20<00:36:54.462> different<00:36:54.703> bands<00:36:55.024> competing<00:36:55.505> for<00:36:55.665> airspace.

00:36:56.948 --> 00:36:59.193
And<00:36:57.108> so<00:36:57.269> it's<00:36:57.413> just,<00:36:57.750> it's<00:36:57.910> a<00:36:57.974> fun<00:36:58.295> place<00:36:58.551> to<00:36:58.696> be,<00:36:58.936> you<00:36:58.968> know.

00:36:59.513 --> 00:37:02.303
Most<00:36:59.818> of<00:36:59.914> the<00:36:59.994> time<00:37:00.299> the<00:37:00.379> weather<00:37:00.620> is<00:37:00.716> perfect<00:37:01.149> during<00:37:01.293> South<00:37:01.662> by<00:37:01.694> Southwest.

00:37:02.352 --> 00:37:05.365
Occasionally<00:37:02.656> get<00:37:02.817> a<00:37:02.881> little<00:37:03.506> cold<00:37:03.843> or<00:37:03.987> rain,<00:37:04.323> but<00:37:04.484> mostly<00:37:04.868> it's<00:37:05.029> perfect.

00:37:05.461 --> 00:37:09.020
It's<00:37:06.183> hard<00:37:06.391> not<00:37:06.551> to<00:37:06.952> leave<00:37:07.112> here<00:37:07.209> going,<00:37:07.994> that<00:37:08.074> was<00:37:08.234> a<00:37:08.395> lot<00:37:08.587> of<00:37:08.731> fun.

00:37:09.517 --> 00:37:11.264
I<00:37:09.613> get,<00:37:09.998> I<00:37:10.174> get<00:37:10.414> the<00:37:10.559> buzz,<00:37:11.039> right?

00:37:11.376 --> 00:37:12.209
Yeah,<00:37:12.001> yeah.

00:37:12.498 --> 00:37:15.447
Even<00:37:12.594> though<00:37:12.722> the<00:37:12.754> buzz<00:37:12.867> will<00:37:13.123> be<00:37:13.219> different<00:37:13.524> when<00:37:13.620> you<00:37:13.764> actually<00:37:14.021> come<00:37:14.181> back,<00:37:14.502> you<00:37:14.582> know,<00:37:14.822> 3<00:37:14.950> weeks<00:37:15.287> later.

00:37:15.608 --> 00:37:19.823
Yeah,<00:37:16.008> yeah,<00:37:16.185> there's<00:37:16.345> not<00:37:16.569> nearly<00:37:16.890> as<00:37:16.986> many<00:37:17.146> people<00:37:17.467> there,<00:37:17.707> which<00:37:17.932> is<00:37:18.028> great,<00:37:18.364> which<00:37:18.669> is<00:37:18.813> actually<00:37:19.134> arguably<00:37:19.631> better.

00:37:20.192 --> 00:37:21.169
Yeah,<00:37:20.592> it's<00:37:20.977> better.

00:37:21.939 --> 00:37:31.171
Um,<00:37:22.756> I<00:37:22.901> wonder<00:37:23.221> how<00:37:23.381> you<00:37:23.542> have—<00:37:24.039> or<00:37:24.503> how<00:37:24.744> is<00:37:24.984> Austin,<00:37:25.401> or<00:37:25.641> you,<00:37:25.962> and<00:37:26.106> the<00:37:26.202> tech<00:37:26.427> community<00:37:26.763> in<00:37:26.844> general<00:37:27.805> thinking<00:37:28.126> about<00:37:28.286> how<00:37:28.511> you<00:37:28.671> avoid<00:37:29.248> some<00:37:29.472> of<00:37:29.552> the<00:37:29.713> pitfalls<00:37:30.226> of<00:37:30.370> Silicon<00:37:30.771> Valley?

00:37:32.280 --> 00:37:37.341
Um,<00:37:32.601> right,<00:37:32.810> because<00:37:33.019> you<00:37:33.163> guys—<00:37:33.886> Austin's<00:37:34.208> one<00:37:34.304> of<00:37:34.368> the<00:37:34.449> fastest<00:37:34.947> growing<00:37:35.573> ecosystems<00:37:36.216> in<00:37:36.377> the,<00:37:36.473> in<00:37:36.634> the<00:37:37.019> country.

00:37:37.662 --> 00:37:43.028
Yeah,<00:37:38.305> again,<00:37:38.706> I<00:37:38.947> asked<00:37:39.188> that<00:37:39.365> as<00:37:39.526> thinking<00:37:39.847> is<00:37:39.927> like,<00:37:40.168> because<00:37:40.329> we're<00:37:40.634> Utah's<00:37:41.309> have<00:37:41.679> asking<00:37:41.920> ourselves<00:37:42.321> the<00:37:42.434> same<00:37:42.659> question.

00:37:43.382 --> 00:38:00.722
Yeah,<00:37:43.928> I<00:37:44.024> mean,<00:37:44.249> I<00:37:44.346> think<00:37:45.952> I,<00:37:46.113> I—<00:37:46.258> it<00:37:46.290> would<00:37:46.434> be<00:37:46.531> my—<00:37:47.061> uh,<00:37:47.382> the<00:37:47.559> thing<00:37:47.720> I'm<00:37:47.816> going<00:37:47.945> to<00:37:48.025> say<00:37:48.282> first<00:37:48.700> is<00:37:48.845> a<00:37:48.989> little<00:37:49.166> bit<00:37:49.873> like<00:37:50.194> naive,<00:37:51.014> admittedly,<00:37:51.720> but<00:37:51.817> I<00:37:51.961> think<00:37:52.122> there's<00:37:52.315> more<00:37:52.540> to<00:37:52.781> it,<00:37:52.942> which<00:37:53.183> is<00:37:54.066> I<00:37:54.147> don't<00:37:54.291> think<00:37:54.468> we<00:37:54.548> do<00:37:54.773> think<00:37:54.950> about<00:37:55.175> the<00:37:55.271> pitfalls<00:37:55.753> of<00:37:55.818> Silicon<00:37:56.316> Valley<00:37:56.637> because<00:37:56.878> we're<00:37:56.958> just<00:37:57.215> a<00:37:57.360> different<00:37:59.527> place.

00:38:01.142 --> 00:38:06.051
Um,<00:38:01.304> and<00:38:01.788> what<00:38:01.885> I<00:38:02.047> really<00:38:02.435> think<00:38:02.548> about—<00:38:02.854> maybe<00:38:03.048> I'll<00:38:03.194> say<00:38:03.404> it<00:38:03.501> differently—<00:38:03.985> is<00:38:05.665> two<00:38:05.762> things.

00:38:06.229 --> 00:38:14.310
One,<00:38:09.448> Silicon<00:38:09.931> Valley,<00:38:11.058> everything<00:38:11.654> about<00:38:12.040> it,<00:38:12.201> including<00:38:12.748> how<00:38:12.990> it<00:38:13.103> started,<00:38:13.569> was<00:38:13.730> unique,<00:38:14.133> right?

00:38:14.374 --> 00:38:16.196
I<00:38:14.390> don't<00:38:14.696> know<00:38:14.922> how<00:38:14.954> many<00:38:15.179> people<00:38:15.421> know<00:38:15.550> the<00:38:15.663> origin<00:38:15.921> story.

00:38:16.390 --> 00:38:23.619
The<00:38:16.471> origin<00:38:16.649> story<00:38:17.021> was,<00:38:17.361> I<00:38:17.522> don't—<00:38:17.749> I<00:38:17.910> feel<00:38:18.007> like<00:38:18.153> in<00:38:18.185> the<00:38:18.266> '20s<00:38:18.670> or<00:38:18.816> '30s,<00:38:19.204> the<00:38:19.285> government<00:38:20.514> funneled<00:38:20.902> a<00:38:20.999> bunch<00:38:21.258> of<00:38:21.323> money<00:38:22.438> to<00:38:22.535> do<00:38:22.697> a<00:38:22.762> bunch<00:38:22.956> of<00:38:23.020> research<00:38:23.506> there.

00:38:23.748 --> 00:38:29.114
And<00:38:23.829> so<00:38:24.298> the<00:38:24.395> government<00:38:24.864> really<00:38:25.028> created<00:38:25.665> this<00:38:26.262> this<00:38:27.127> petri<00:38:27.447> dish<00:38:28.345> for<00:38:28.505> innovation.

00:38:29.210 --> 00:38:30.780
And<00:38:29.290> there's,<00:38:29.546> you<00:38:29.626> know,<00:38:29.786> some<00:38:29.947> great<00:38:30.123> schools<00:38:30.571> there.

00:38:30.972 --> 00:38:38.117
And<00:38:31.565> so<00:38:31.853> it<00:38:32.174> happened<00:38:32.830> at<00:38:32.911> a<00:38:33.151> different<00:38:33.455> time<00:38:33.792> in<00:38:33.856> the<00:38:34.016> world,<00:38:34.513> and<00:38:34.753> it,<00:38:34.849> you<00:38:34.913> know,<00:38:35.073> it<00:38:35.137> was<00:38:35.394> in<00:38:35.474> a<00:38:35.538> different<00:38:35.874> way<00:38:37.220> than<00:38:37.380> Austin<00:38:37.653> has<00:38:37.781> happened.

00:38:39.143 --> 00:38:43.260
Is,<00:38:39.479> you<00:38:39.559> know,<00:38:39.800> I<00:38:39.816> mean,<00:38:40.040> Austin<00:38:40.520> really<00:38:40.825> kind<00:38:41.001> of<00:38:41.081> like<00:38:42.042> grew<00:38:42.347> from<00:38:42.507> the<00:38:42.603> inside<00:38:43.068> out.

00:38:43.308 --> 00:38:50.101
It<00:38:43.420> started<00:38:43.821> as<00:38:43.965> an<00:38:44.189> artisty<00:38:44.606> thing<00:38:44.926> and<00:38:45.070> like<00:38:45.471> a<00:38:45.567> creative<00:38:46.032> thing,<00:38:46.224> and<00:38:46.304> there<00:38:46.384> were<00:38:46.512> creative<00:38:46.849> people,<00:38:47.249> and<00:38:47.874> creative<00:38:48.211> people<00:38:48.531> create<00:38:49.492> things,<00:38:49.973> right?

00:38:50.197 --> 00:38:51.415
Plus<00:38:50.373> we<00:38:50.437> have<00:38:50.550> a<00:38:50.614> university<00:38:51.239> here.

00:38:51.991 --> 00:39:14.709
And<00:38:52.120> I<00:38:52.136> think,<00:38:52.440> you<00:38:52.472> know,<00:38:52.680> the<00:38:52.841> other,<00:38:53.161> the<00:38:53.257> other<00:38:53.481> thing<00:38:53.578> which<00:38:53.738> is,<00:38:54.122> is,<00:38:54.459> is<00:38:54.923> both<00:38:55.100> very<00:38:55.404> different<00:38:55.724> and<00:38:55.820> similar<00:38:56.846> which<00:38:57.086> is,<00:38:57.567> you<00:38:57.647> know,<00:38:57.839> in<00:38:58.208> our<00:38:58.544> time,<00:38:59.265> in<00:38:59.650> all<00:38:59.746> of<00:38:59.826> the<00:38:59.970> people<00:39:00.226> that<00:39:00.403> are<00:39:00.947> listening<00:39:01.332> to<00:39:01.412> this<00:39:01.812> podcast,<00:39:02.549> and<00:39:02.710> all<00:39:02.870> of,<00:39:03.174> you<00:39:03.254> know,<00:39:03.414> even<00:39:03.591> in<00:39:03.735> our<00:39:03.895> parents'<00:39:04.632> times,<00:39:05.978> um,<00:39:06.298> this—<00:39:07.099> Austin<00:39:07.436> is<00:39:07.676> really<00:39:08.717> not<00:39:08.942> the<00:39:09.038> last<00:39:09.919> but<00:39:10.079> the<00:39:10.223> first<00:39:10.576> city<00:39:11.025> that<00:39:11.201> is<00:39:11.505> actually<00:39:12.803> emerging<00:39:13.764> in<00:39:13.908> our<00:39:14.165> lifetime.

00:39:14.966 --> 00:39:17.097
They<00:39:15.110> all<00:39:15.270> have<00:39:15.430> happened<00:39:16.231> before<00:39:16.504> our<00:39:16.712> lifetime.

00:39:17.193 --> 00:39:18.250
Yeah,<00:39:17.273> that's<00:39:17.705> a<00:39:17.753> good<00:39:17.850> point.

00:39:18.570 --> 00:39:19.291
Detroit,<00:39:19.131> right?

00:39:19.436 --> 00:39:21.054
All<00:39:19.612> of<00:39:19.692> it<00:39:19.772> happened<00:39:20.076> before<00:39:20.397> we<00:39:20.477> were<00:39:20.637> all<00:39:20.733> born.

00:39:21.695 --> 00:39:22.944
The<00:39:21.919> world<00:39:22.239> was<00:39:22.351> a<00:39:22.416> different<00:39:22.736> place.

00:39:23.056 --> 00:39:24.514
The<00:39:23.201> world<00:39:23.441> wasn't<00:39:23.681> quite<00:39:23.873> as<00:39:24.018> connected.

00:39:24.739 --> 00:39:25.908
We<00:39:24.883> were<00:39:25.043> different<00:39:25.299> human<00:39:25.620> beings.

00:39:26.036 --> 00:39:30.461
Just<00:39:26.261> think<00:39:26.437> about<00:39:27.126> the<00:39:27.222> different<00:39:27.607> upbringings<00:39:28.104> between<00:39:28.505> Boomers<00:39:28.826> and<00:39:28.970> Gen<00:39:29.291> X<00:39:29.547> and<00:39:29.692> Gen<00:39:29.868> Y<00:39:30.173> and<00:39:30.269> Gen<00:39:30.429> Z.

00:39:30.510 --> 00:39:33.925
Like,<00:39:31.151> everything<00:39:31.648> about<00:39:31.953> it<00:39:32.209> is<00:39:32.354> so<00:39:32.899> different<00:39:33.540> about<00:39:33.781> them.

00:39:34.294 --> 00:39:42.393
So<00:39:34.438> that,<00:39:34.759> like,<00:39:35.401> it's<00:39:35.561> not<00:39:35.802> that<00:39:36.587> I<00:39:36.668> want<00:39:36.748> to<00:39:36.828> be<00:39:36.940> naive<00:39:37.245> and<00:39:37.341> say<00:39:37.485> like,<00:39:37.710> oh,<00:39:37.790> who<00:39:37.886> cares,<00:39:38.399> because,<00:39:38.993> you<00:39:39.073> know,<00:39:39.249> it<00:39:39.490> won't<00:39:39.795> happen<00:39:40.003> to<00:39:40.196> us,<00:39:40.372> because,<00:39:41.078> yeah,<00:39:41.238> history<00:39:41.575> could<00:39:41.799> repeat<00:39:42.072> itself.

00:39:42.457 --> 00:39:47.284
But<00:39:42.601> I<00:39:42.761> think<00:39:42.938> that<00:39:43.178> the<00:39:43.258> ingredients<00:39:43.820> are<00:39:43.900> so<00:39:44.221> different<00:39:45.407> that<00:39:46.225> I<00:39:46.241> don't<00:39:46.466> really<00:39:46.770> think<00:39:46.883> about<00:39:47.187> it.

00:39:47.749 --> 00:39:47.861
Yeah.

00:39:48.374 --> 00:39:49.432
Oh<00:39:48.534> yeah,<00:39:49.112> for<00:39:49.272> sure.

00:39:50.154 --> 00:39:51.966
Hey<00:39:50.459> Amos,<00:39:50.780> thanks<00:39:50.940> so<00:39:51.036> much<00:39:51.196> for<00:39:51.341> coming<00:39:51.581> on,<00:39:51.758> man.

00:39:52.239 --> 00:39:56.649
We<00:39:52.319> got<00:39:52.447> to<00:39:52.544> bring<00:39:52.720> you<00:39:52.800> back,<00:39:53.345> um,<00:39:53.826> as<00:39:54.067> things<00:39:54.324> keep<00:39:54.484> going<00:39:54.789> over<00:39:54.965> there<00:39:55.206> with<00:39:55.366> you<00:39:55.687> and<00:39:55.751> you<00:39:55.911> write<00:39:56.104> another<00:39:56.408> book.

00:39:56.713 --> 00:39:57.707
You<00:39:56.793> got<00:39:56.954> another<00:39:57.210> one<00:39:57.354> in<00:39:57.451> mind?

00:39:58.333 --> 00:40:01.317
Yeah,<00:39:59.360> yeah,<00:40:00.242> you'll<00:40:00.820> put<00:40:00.996> one<00:40:01.140> out.

00:40:01.606 --> 00:40:02.841
Yeah,<00:40:02.183> maybe<00:40:02.408> at<00:40:02.440> some<00:40:02.665> point.

00:40:02.889 --> 00:40:05.039
At<00:40:02.985> the<00:40:03.082> moment<00:40:03.451> I'm,<00:40:03.852> I'm<00:40:04.189> on<00:40:04.349> to<00:40:04.413> other<00:40:04.654> projects.

00:40:05.937 --> 00:40:08.937
Well,<00:40:06.098> I'd<00:40:06.178> recommend<00:40:06.579> everybody<00:40:06.916> get<00:40:07.221> Levers<00:40:07.943> and<00:40:08.119> your,<00:40:08.360> and<00:40:08.440> your<00:40:08.584> first<00:40:08.761> book.

00:40:08.985 --> 00:40:10.750
I<00:40:09.082> forget<00:40:09.322> the<00:40:09.403> title<00:40:09.820> of<00:40:10.044> your<00:40:10.157> first<00:40:10.510> book.

00:40:10.927 --> 00:40:14.312
Yeah,<00:40:11.552> yeah,<00:40:12.274> uh,<00:40:12.531> but,<00:40:12.772> but<00:40:13.012> Levers<00:40:13.413> is<00:40:13.494> an<00:40:13.574> incredible<00:40:14.135> book.

00:40:14.440 --> 00:40:20.280
Everyone<00:40:14.777> should<00:40:15.018> read<00:40:15.194> it<00:40:15.339> if<00:40:15.419> you're<00:40:15.820> an<00:40:15.964> entrepreneur<00:40:16.702> or<00:40:16.847> a<00:40:16.943> leader<00:40:17.585> or,<00:40:18.611> um,<00:40:18.852> you<00:40:18.948> care<00:40:19.109> about<00:40:19.269> business<00:40:19.590> in<00:40:19.654> any<00:40:19.750> sort<00:40:19.991> of<00:40:20.055> way.

00:40:20.456 --> 00:40:21.964
Amos,<00:40:20.873> thank<00:40:21.098> you<00:40:21.194> so<00:40:21.371> much<00:40:21.595> for<00:40:21.740> coming.

00:40:22.542 --> 00:40:23.328
Yeah,<00:40:22.718> thanks<00:40:22.959> for<00:40:23.103> having<00:40:23.280> me.

00:40:23.456 --> 00:40:24.454
It<00:40:23.521> was<00:40:23.569> really<00:40:23.890> really<00:40:24.228> fun.

00:40:24.502 --> 00:40:26.226
And<00:40:24.647> thank<00:40:24.873> you<00:40:24.937> everybody<00:40:25.356> for<00:40:25.775> dialing<00:40:26.162> in.

00:40:26.726 --> 00:40:29.256
Yeah,<00:40:26.903> how<00:40:27.145> often<00:40:27.387> are<00:40:27.467> you<00:40:27.628> playing<00:40:28.015> those<00:40:28.434> instruments<00:40:28.918> back<00:40:29.143> there?

00:40:29.788 --> 00:40:31.319
Uh,<00:40:30.851> every<00:40:31.093> day.

00:40:31.963 --> 00:40:32.464
Yeah,<00:40:32.205> good<00:40:32.270> for<00:40:32.399> you.

00:40:32.852 --> 00:40:35.520
I'll<00:40:33.596> give<00:40:33.741> you<00:40:33.838> a<00:40:33.984> quick—<00:40:34.566> this<00:40:34.792> is<00:40:34.889> my<00:40:34.986> studio.

00:40:36.248 --> 00:40:37.380
Oh,<00:40:36.507> this<00:40:36.668> is<00:40:36.765> incredible.

00:40:37.639 --> 00:40:38.868
Yeah,<00:40:38.512> an<00:40:38.593> office.

00:40:40.065 --> 00:40:41.083
Very<00:40:40.453> cool,<00:40:40.809> man.

00:40:41.650 --> 00:40:43.872
Well,<00:40:42.068> uh,<00:40:42.664> okay,<00:40:42.889> we'll<00:40:43.002> see<00:40:43.179> you<00:40:43.211> down<00:40:43.389> the<00:40:43.517> line,<00:40:43.711> man.

00:40:43.920 --> 00:40:45.144
Maybe<00:40:44.065> we'll<00:40:44.258> be<00:40:44.339> in<00:40:44.484> Austin<00:40:44.757> sometime.

00:40:45.385 --> 00:40:46.512
Cool,<00:40:46.013> look<00:40:46.110> forward<00:40:46.303> to<00:40:46.416> it.

00:40:46.899 --> 00:40:47.092
See<00:40:46.979> ya.

00:40:47.479 --> 00:40:47.575
Bye.

```