And I think the key is, first, you wanna be in gigantic TAMs.

13:50 / 14:23

Wow. Well, you paid 4 and a half. Mhmm. So even if it triples and then doubles again, you're still not at the six or seven x that that it will be valued out in a public market. How do you just get your head around the hard dynamics of what it will be in a public market? Yeah. It filters down into every decision that we think about all the time. And I think the key is, first, you wanna be in gigantic TAMs. Big ideas only. Because if you ever compromise on that very first principle and you're paying high valuations,

you're in trouble. Medium TAM, small TAM, you better believe that this thing can be absolutely

13:50 - 14:2333s

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