The Four Worst Trades

When you go outside of your zone of excellence which for us is largely I would say sectoral and geographic. You start to have really tough outcomes so if we're making investments in the U.S. or even if we're following what we think are the smart names that you know the blue chip Silicon Valley VCs or the regional VCs investing in a product. It usually doesn't end well for us. But when we took time to build out our own team to understand the market deeply and make our own investments that had no correlation with the rest of the market. We started outperforming the market and we started finding companies and founders that were dismissed by the by the regional market as well