Frank Slootman

So if somebody, again, not even in my portfolio, is like, hey, I'm curious, I'm looking for, this happened last week, looking for a sales leader in Chicago. I'll hit my Chicago Rolodex and say, hey, there's five guys in Chicago that are worth talking to. I'll make a couple introductions and go on the way. Have you lost a deal yet? Partially. There was a deal that I got really excited about.

So if somebody, again, not even in my portfolio, is like, hey, I'm curious, I'm looking for, this happened last week, looking for a sales leader in Chicago. I'll hit my Chicago Rolodex and say, hey, there's five guys in Chicago that are worth talking to. I'll make a couple introductions and go on the way. Have you lost a deal yet? Partially. There was a deal that I got really excited about.

When it came down to valuation, we did not hit the number that the company wanted. And I'm sure glad I missed it. So that was one that I probably dodged a bullet because it was the height of 21 in the billions of dollars. And we just looked at it and said, it's just too rich for us. And we walked away after being told he wanted us to lead it. And then we walked away over price.

When it came down to valuation, we did not hit the number that the company wanted. And I'm sure glad I missed it. So that was one that I probably dodged a bullet because it was the height of 21 in the billions of dollars. And we just looked at it and said, it's just too rich for us. And we walked away after being told he wanted us to lead it. And then we walked away over price.

When it came down to valuation, we did not hit the number that the company wanted. And I'm sure glad I missed it. So that was one that I probably dodged a bullet because it was the height of 21 in the billions of dollars. And we just looked at it and said, it's just too rich for us. And we walked away after being told he wanted us to lead it. And then we walked away over price.

So that was a good learning opportunity, but I don't know if that's a loss. There's another one where we got smaller positions than I wanted. And that's a really hard part for me, Harry, because if my position's too small, it's hard for me to dedicate the time. And so I have to try to tell these founders, you know, this is going to be awkward.

So that was a good learning opportunity, but I don't know if that's a loss. There's another one where we got smaller positions than I wanted. And that's a really hard part for me, Harry, because if my position's too small, it's hard for me to dedicate the time. And so I have to try to tell these founders, you know, this is going to be awkward.

So that was a good learning opportunity, but I don't know if that's a loss. There's another one where we got smaller positions than I wanted. And that's a really hard part for me, Harry, because if my position's too small, it's hard for me to dedicate the time. And so I have to try to tell these founders, you know, this is going to be awkward.

I know you want us, you want me on the board, but I can't use one of my spots anymore.

I know you want us, you want me on the board, but I can't use one of my spots anymore.

I know you want us, you want me on the board, but I can't use one of my spots anymore.

I've said no a couple times, and one that I said yes to, I do think it's going to be a generational company, and I really love the founder. I've known him for 10 years. So it was one of those where existing investors preempted around. We got a smaller piece than I wanted. There was a commitment to try to drive more. It didn't happen.

I've said no a couple times, and one that I said yes to, I do think it's going to be a generational company, and I really love the founder. I've known him for 10 years. So it was one of those where existing investors preempted around. We got a smaller piece than I wanted. There was a commitment to try to drive more. It didn't happen.

I've said no a couple times, and one that I said yes to, I do think it's going to be a generational company, and I really love the founder. I've known him for 10 years. So it was one of those where existing investors preempted around. We got a smaller piece than I wanted. There was a commitment to try to drive more. It didn't happen.

And so now we've had the honest conversation about, hey, it's going to be harder for me to spend the kind of time you need. And unfortunately for him, he's in the process of needing that help. But I got to figure out what the right thing is. I want to be friendly, but I also have a business to run and I got to watch my time.

And so now we've had the honest conversation about, hey, it's going to be harder for me to spend the kind of time you need. And unfortunately for him, he's in the process of needing that help. But I got to figure out what the right thing is. I want to be friendly, but I also have a business to run and I got to watch my time.

And so now we've had the honest conversation about, hey, it's going to be harder for me to spend the kind of time you need. And unfortunately for him, he's in the process of needing that help. But I got to figure out what the right thing is. I want to be friendly, but I also have a business to run and I got to watch my time.

My terminology from experience is there are VCs that are seagulls, fly into a meeting, fly into a location. They basically take a shit and they fly away. They talk a lot. They give work to do for other people to do on the management team that distracts the management team from doing anything that's important. And you've got to control for the seagull.

My terminology from experience is there are VCs that are seagulls, fly into a meeting, fly into a location. They basically take a shit and they fly away. They talk a lot. They give work to do for other people to do on the management team that distracts the management team from doing anything that's important. And you've got to control for the seagull.

My terminology from experience is there are VCs that are seagulls, fly into a meeting, fly into a location. They basically take a shit and they fly away. They talk a lot. They give work to do for other people to do on the management team that distracts the management team from doing anything that's important. And you've got to control for the seagull.