Emergent Ventures Grants - What Have You Learned?

What has been the most surprising thing you've learned or improved upon as an identifier of talent through your experience with distributing emergent ventures grants? Have you gotten better through emergent ventures? Or have you just been kind of applying and crystallizing things you already knew? I've been doing hiring and talent search for most of my life. So whether at this margin I'm getting better is hard to say. But it's not a new thing for me to be clear. What surprised me the most is how few geographic areas the really talented people live in or seem to live in.