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Erika Lucas

Aug 25, 2026

14:42
Right.
14:42
So the most knowledgeable person about your business that will be in the room is you because you're working at it every day, because you understand your audience more intimately than I will ever be, because you understand the problem more intimately than I will ever be.
15:00
What we talk about most of the time, you know, I was in private equity, so, and then venture.
15:04
So venture capital is, uh, a system of private equity, but designed for early-stage companies.
15:11
So two different conversation, but I think you're referring to early-stage entrepreneurs, so I'll focus on venture.
15:17
So in this case, we're basically putting a lot of the bet, really it's a bet that we're taking.
15:23
So the risk really is can this person that we just talked to do what they say they're going to do? Right? Do we trust enough that they answer the questions in a way that mitigates the risk for us? That they-- do they understand their problem intimately? Do they understand why their solution is not just a little bit better but 10 times better than what's already in the market? And even if it's not there yet, do they understand the path that they, or what they need to build in order to be better, significantly better than the competitors? Do they understand who their competitors is? So it really, you know, I don't care what investors say on their website because a lot of investors like to, especially in tech, they like to portray themselves as the saviors of this world.
17:14
And entrepreneurship, by its very nature, should be unencumbered by the degree of risk that it ensues, right? So what do you think about that?

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