Speaker unverified: belief

Transcript context

…He didn't have to work for money when he left Graham Newman. That's right, at age 25 he had enough to retire, but they keep going. They keep going on and on like the Energizer Bunny. They never run out of energy. Why is that? What is it about certain guys that become billionaires and they're still showing up to work? Not only showing up to work, but they say they tap dance to work. Bezos copied Buffett’s lines, he’s like, I tap dance to work every day. Buffett’s still there. Sam Walton’s still there to the end, to the very end. You have to carry them out with a stretcher. They’re some of the people who are just like that. We’re trying to study who these people are. We’re trying to incorporate some of that for ourselves as well. How do we structure the work and surround ourselves with the types of people that give us joy, that motivate us to come back, to keep coming back, to keep doing it, rather than to say I'm done, I'm punching out? We're always thinking about that because our role model is the Buffett kind of guy. We didn't set out to start the venture firm for ourselves, so we punch out at the age of 50 or 60 and say, why did I start something so I could give it to the next generation? I think I'm going to just be around for a while. The next generation could join us. They're fantastic people and these are people I want to invest in. We think of the next generation as we are both LPs and GPs. We want to invest in that next generation. I think that's one of the things we observe with some really enduring franchises, where they are no longer thinking about the business as a GP. They're really thinking about it as an LP. They become both LP and GP. There are certain folks like IGSP that David knows about— Right, there’s no distinction.…

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