We invest in founders who remind us of ourselves.
Power law investing is always a bit foolish. We're just more transparent about it.
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Power law investing is always a bit foolish. We're just more transparent about it.
About
Our proprietary strategy is simple: we invest in companies that are going to make money, and decline to invest in those that won't.
Most of our bets will not work. We have made our peace with this. The handful that do will quietly pay for all the others, and for the resulting therapy.
Some firms call this conviction. We call it stepping off the edge and trusting the constellation to catch us.
Tenets
We back founders whose one good idea could fork into a hundred. Ninety-eight of those are wrong. We are here, optimistically, for the other two.
Value compounds through connection. We know a guy, who knows a guy. After much reflection, we have decided to call this an edge.
The patterns that scale repeat at every level. So do our mistakes — which is precisely how we have gotten so good at spotting them.
Approach
Diligence, to us, is mostly a feeling. It tends to arrive around 2 a.m., shortly after the conviction and slightly before the regret. We have learned to act in that narrow window.
Our structure is simple. Our conviction is patient. Our self-awareness is, frankly, our only real moat.
We have read several books about money. Some of them all the way through.