Q Yeah. Is there any difference in how you build the portfolio now that some of your growth companies are like the infrastructure of the early stage companies? Like, you know, OpenAI is now the same size as some of the cloud providers were early on. Like, what does that look like? Like, how much information can you feed off each other between the two?
A There's so many lines that are being crossed right now or blurred, right? So we already talked about venture and growth. Another one that's being blurred is between infrastructure and apps, right? So like, what is a model company? Like it's clearly infrastructure, right? Because it's like, you know, it's doing kind of core R and D it's a horizontal platform, but it's also an app because it, um, uh, touches the users directly. And then of course, you know, the, the, the growth of these is just so high. And so I actually think you're just starting to see a, a new financing strategy emerge and, you know, we've had to adapt as a result of that. And so there's been a lot of changes. Um, you're right that these companies become platform companies very quickly. You've got ecosystem build out. So none of this is necessarily new, but the timescales of which it's happened is pretty phenomenal. And the, where we'd normally cut lines before is blurred a little bit, but But that, that, that said, I mean, a lot of it also just does feel like things that we've seen in the past, like cloud build out and the internet build out as well.
AI assessment note: “a new financing strategy emerge and, you know, we've had to adapt”