AP: I’d never made any investments before. I was very much in the operator mindset. I was working at Facebook. I was focused on my job. was frankly, if I was going to do anything with them, I probably would have been like, hey, maybe I should go work there, kind of help on the growth team or something like that. But instead, knowing now what I know, I would have been talking to them from an investor standpoint. I would have said, hey, can I put money into this? And so when you see that, part of it is not just evaluating a specific investment, but also what mindset are you in? How many different early stage startups did I talk to the founders, did I even help the founders over the years before I realized, maybe I should also put money into these companies. And so that was a huge unlock for me personally in my career was putting capital to work, not just kind of being helpful, obviously drives a financial return. And then the other thing that I would say is, understanding kind of portfolio construction. There’s one thing to say…Hey, I’ve got a really high conviction in something like Bitcoin. It’s probably not going to go to zero. And so maybe I could lose, you know, 10, 20%, 30 % of my money, but it’s not like I’m going to lose everything. In venture, you can lose everything. And so really understanding the dynamics of like, well, you have to build a portfolio of these in order to drive an overall return is something that, you know, just took me a while to learn. And then once I understood it, you know, put me in a much better position to allocate capital.
