Social Leverage

In two thousand six, when i really started investing harder with my own capital and other people's capital, there was a thousand companies a year. And roger ernberg, myself, jeff clabie, i only want to be in their category, but i was considered a super anger. Now you have ten thousand starts a month. We think as tech gets further distributed and decentralized, away from san francisco and the coast and away from germany the rest of europe, that we're going to do better. The alpha is in all these new, unique places, and we want to stay closer to the ground.