Pike Ville, United States, Silicon Valley discussed on Masters in Business


And if we can just not not move California from four fifty to forty nine percent to lift Georgia from one to two percent. But just grow the denominator the pie bigger it. It it it really because the beauty of what we do is, you know, as an asset class venture largely creates jobs, right? When when we write it when I'm investing in a company, the first thing, I always ask what are you gonna do with the money? And almost always the first answer is we're gonna hire, you know. It's not it's not we're going to close the factory to generate profitability, or we're going to close the trade at a you know, three a twenty thirty percent IRR. It's I want to go higher fifteen developers and to community managers and and a CMO because we're trying to build something. Great. And that to me, you know, the we all know and cities and politicians are well aware of things like the tech multiplier where every technology job generates, you know, five to six general economy jobs. So when they go out and hire five people, that's you know, another dentist that gets hired or another restaurant that needs to open or coffee place that needs to open on the corner to help sort of accommodate all of that growth in some of these heartland. Areas that have been losing for the last couple of years. I I love your take on on failure in and Silicon Valley. My favorite thing on some of their VC bay area websites is their list of here's. Yeah. We we said no to over. We said no to apple we said, no to Amazon like their list of failures. And it's a badge of honor your you're dead Ryan on that. It's quite it's quite fascinating. So when you're putting together a portfolio of companies when when I look at a portfolio of stocks, I wanna see some US companies some emerging market companies some European and Asia Japanese companies, how do you approach creating a portfolio g think in terms of different sectors and distribution of risk to tell us about? How you go about doing that? Yeah. So we were were obviously geographically diverse because that's part of part of our mandate. But but in that we we have lots of different industries. We have lots of different business models in, you know, summer like we've talked about a little earlier summer direct to consumer some are business to business, and you know, some are like will likely end up being pro-cyclical some will likely be countercyclical. And so I feel like as we, you know, as we take a step up and look broadly at our portfolio, we do have a range of of of really interesting business models in in in targets of the economy that are different. You know, we've got some healthcare companies we've got some retail or e commerce companies we've got a handful of food opportunities that were pursuing and so food different from agriculture or one on the same. We we see food and agriculture's perfectly co-mingled, and we've got some some some longer plays and the ad tech business, and we also have a couple of of food brands that were also really excited about I remember reading and it's a couple years ago. Ready? I think it was wired magazine you talk about Agritech. They're these big commercial. Like, John Deere tractors and people pretty much created a using an iphone and a satellite receiver away to self program. These tractors to do a whole field with nobody sitting in the cab long before they were self driving cars and trucks. It seems that tractors were pretty much the first to do that. When you talk about Ag tech is is that the sort of stuff you referring to or is it more specific soil chemistry and material science and things along that or a little bit. Ev it's a little bit of everything. I'll I'll give you an example. We are investors in the business called app harvest app harvest is based in pike Ville, Kentucky, and what this business does. And it's so fascinating the founder and entrepreneurs has just this really dynamic guy. And he's found he he's basically turning abandoned coal mines into hydroponic farms hydroponic greenhouses, and he's hiring former co workers to come work these new farms. On on what used to be a coal mine. And so to me, that's that's the the essence of.

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