were

pretty rough around the edges when they started their companies.

But I think you said something really interesting as well.

Basically, what's happening in the market right now where when we started the fund in 2021, like you mentioned, was a really crazy time.

And people were piling into crypto, the creator economy, the metaverse.

They were doing that at any price.

Literally, they were saying price doesn't matter.

So how do you guys think about investing in and around a theme that right now it's just really hard to find reasonable value?

Maybe you can start to talk about like when you, what, what, what things you were seeing that, that made you decide like, maybe I wanna do something else or wind this down or this isn't worth the time or how you ultimately sort of got out of DFS and what the next steps were you-

Yeah, people were getting better and better.

Like I mentioned, um, the first season after I h- hit it so big in fantasy football, um, most of the good players were kinda doing similar strategies as me.

Um, I think within two years they were relatively commonplace, and that happened a lot faster than I thought, um, just because of the starting place people were like as poor and unsophisticated back then as they were.

I thought it was just gonna take longer.

Um, the other major thing is that sports betting, the Supreme Court case happened and sports betting got made legal, and the sites kind of shifted their focus to sports books.

And this happened like 2019-ish.

So why don't you give, like, you know, it, it could be something you mentioned already or something else, but something that, like, sh- the, the people that are in venture capital, like, would disagree with that you, you have a, a hot take on.