The probability of any given company going up five times if picked randomly is about 5%, so we look for companies with a 30-40% chance of achieving that.

We aim to offer returns in the mid-teens to 20% range to attract investors, ensuring our financial model is appealing. There are effectively two markets: the investor market, which has its required return, and the product market, which has its potential return. The goal is to align these two as closely as possible.

We aim to be conservative in our financial modeling to avoid surprises and ensure we can exceed expectations.

Getting your business model right can significantly increase your company's valuation, potentially leading to 5 to 10 times higher valuations compared to those with ineffective models.

We focus on delivering a strong financial model and rigorous analysis to ensure our customer acquisition costs and lifetime values are accurate.

We focus on investing in companies that can potentially become generational, even at high valuations, if they have the right market adjacencies.

In the startup world, you're betting that 90% of companies will go to zero or just return your money, while the remaining 10% will yield huge multiples and markups.

In our industry, there are about five to fifteen billion-dollar companies created every year. Our goal is to identify at least one or two of these each year from our portfolio.

We encourage our team to invest in opportunities that show promise, even if they come with risks, as this can lead to significant breakthroughs. In venture capital, the key to success is identifying the next big thing early and investing heavily, rather than focusing on win rates or percentage returns.