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2605.51 - 2631.832 Harry Stebbings

Can I just ask you, in terms of the future of venture, I think about this actually a lot when I look forward over the next 10 years. I think it's dominated by Chanel and Walmart. Chanel is benchmark and USV, constrained fund sizes, very specific ICP, and then you have Walmart, which is walls of cash. It's Andreessen, it's Insight, it's Sequoia, it's Index, like big, big pools of cash.