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Too many funds are capping downside right now, instead of maximizing upside.. I’ll often ask the GP/partner on why they did the deal and on my fifth why the real reason comes out which is “well at least big token factory will acquire them so our downside is capped” I haven’t done this for many years but I don’t think history shows that’s how you return a 5-10x fund? Maybe, the incentives have really simply shifted to AUM-maxxing and so the sentiment is deploy baby deploy. But, sigh, that just seems so incredibly short sighted. Maybe, it’s been a long day and I just want to rant but time is the only thing you don’t get back. Use it very wisely to work on things that matter and with people who won’t treat you as an option call 🫡