Brad Gerstner: belief

Transcript context

…I didn't realize that that was with Paul when you led the Series B in Zillow because you were a Zillow board member from that point on for quite a long time. Did you stay on the board of Zillow as an independent even after leaving Paul's firm and starting Altimeter? No, I left the board. I don't know if it was exactly contemporaneous to that about that time. I learned so much from Paul. All kidding aside, the idea of portfolio management and risk management, Paul didn't call it essentialism. But running a simplified, concentrated portfolio around your best ideas was something that I may have been constitutionally predisposed to believe that anyway, but we were just very symbiotic in our thinking about how to manage portfolios. He couldn't have been more supportive. I learned through some pretty heady times with him. Then at the end of 2007, I said to him, I think I want to do my own thing. You led the Series B in Zillow as a crossover hedge fund. The idea of crossover existed, as you said, not necessarily in tech and other domains, but also in tech with TCV and others. They were not leading Series Bs in companies.…

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