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i like company building like i think part of my role is to help the founder increase the amplitude or probability of success and i enjoy that at ff that's very controversial
ff is a momentum investor and is maybe the best on the planet as at being in a momentum investor so almost every successful investment of founders fund over eight funds was invested at 500 million dollars or more entry valuation
coastless culture of weekly partner meetings which included debate and coastless hands-on investing approach and founder mentorship was a better fit for him than founders funds more individualistic approach
I do think there's more in AR than VR. I think there's clearly applications of AR that will resonate, whether they're industrial or consumer, but there are times and places for AR that will be real companies.
I think the fundamental innovation step, innovation DNA is not something Facebook has.
I do think Facebook's bet on Meta is insane. I think it's the wrong company with the wrong DNA, with the wrong founder, with the wrong vision, and the combination is really lethal. You should look at their stock price since they changed the name. It's a perfect proxy for where the company is going. Facebook's never been an innovative culture. A VR-ish headset is very innovative. Facebook's really good at executing consistently compounding advantages quantitatively, but disrupting through a new p
Yes, Elon should buy Twitter to save the world, but it's not going to be a good financial investment.
I don't think we ever really wanted to keep up. But there's a there's a gap, like some band, let's say we're 25% more discipline or whatever, we can't be 50% and still work with the best founders on the planet. So I think there, there was, you know, some pricing pressure that the people who weren't seeing prices definitely posed a real challenge to our normal discipline, we're not immune from the entire world.
So I'll speak for founders fund first, we are definitely much more disciplined than we were six, nine, 12 months ago. So we will not fund things at valuations that don't make any sense given the public market comparables.
typically, as founders fund runs a growth fund, we would typically have a few days to make a decision about a new investment. Currently, for growth rounds, even for very attractive companies and potential investments, we have days to weeks to make an investment decision.