Princeton University

“And for decades, there had basically been a single volunteer who made security level decisions.”

“But you look at, kind of, what Princeton and Yale and, you know, Northwestern's ten billion dollars, Stanford's twenty billion dollars, you know, these guys continue to put up great numbers At very large sizes, we always thought size was the enemy of performan…”

“When I was at Princeton, Sequoia raised a fund in 2003, and they sent, Docs around, and we were very diligent. We sent our docs out to our law firm, and they came back with, like, three pages of comments, and we sent them to Sequoia, and we got a call from the…”

“One of the lessons that we actually learned as opposed to were reminded of during the global financial crisis was a benefit of looking at liquidity in a unified way across the university. So it's not so much about how we're deploying liquidity within the endow…”

“The intersection is that coming out of the global funders crisis, the university explicitly built up a little bit of reserve outside the endowment for liquidity, so that in a kind of Break glass situation, then we could defer some spending coming out of the en…”

“And we Have never, and can't imagine we ever would create a new relationship to seize upon an acute opportunity, because then what happens when that opportunity goes away?”

“I went to Princeton and I studied economics rather than computer science because it explained to me the way the world worked. But I went to Princeton having no money coming from France. And so I actually built my first reasonably small company there, exporting…”

“Over 60% of our students are on financial aid, which is no loan, and then also the endowment provides over 65% of the budget”

“I started this little newspaper delivery business, which was actually the most genius business ever because we had the New York Times and the USA Today, and then our daily paper that Princetonian, but the New York Times would actually pay us per subscription. …”