The trick is there were some VCs out there trying to put a lot of money out very quickly. You have to imagine if you go from doing 10 investments a year back to two or three, some of the ones where your conviction was a little more marginal, you don't do that deal. I've only done two or three deals a year for basically my whole career. So I hope and we have a pretty good track record. These last several quarters and 22 and 23 of announcing deals and getting deals done where we have high conviction. But it's hard. It's harder in a down environment.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode