00:47:20 · Marc Bhargava, Molly O'Shea
[00:47:20] S0: Definitely advocating on team and paying up when you have to. Like, I got to learn from HD some epic stories about how GC got involved in Stripe. And, you know, I won't repeat all of the details there, but there are some companies you just really wanna be in. And it's less about the terms. It's more about catch them early. Like, you can buy 10 or 20% of an iconic company at seed or at a or at b. So a lot of people have the mentality of, oh, this is a $100,000,000 check. Let's spend all our time. This is more important than like a 1,000,000 seed check. But the reality is normally your 100,000,000 check is buying you 10% of a company. Your seed check for 1,000,000 is also buying you 10% of the company. So it's really important to kind of what are going to be the next 50 iconic companies and ideally try to catch them early and pay just as much attention to buying 10% of some seed business as 10% of an established business. So we have really at GC shifted a lot our focus on seed with the acquisition of La Familia and bringing in Jeanette and who's running our Europe practice and as a very prolific seed investor from La Familia. Venture Highway, the India seed firm that we also acquired we brought in recently, and then Yuri to come lead our US seed practice. He had a successful seed firm. So I think that mentality we're really pushing through, which is can we buy 10 to 20% of companies early rather than certain types of investments are more important than others? It's really how do we get those iconic companies, 10 or 20% of them. [00:48:46] S1: So intense.
00:48:46 · Molly O'Shea, Marc Bhargava
[00:48:46] S1: So intense. [00:48:47] S0: Yeah. There's a lot going on there. [00:48:50] S1: There's a lot going on. So what are you most looking forward to in the next twelve months?
00:48:56 · Marc Bhargava
[00:48:56] S0: In the next twelve months, I think becoming much more public about our thesis. You know, some of our best roll ups have decided not to do any press whatsoever, which I think is... And I can understand where they're coming from. They're cash flow positive. Like, you know, some of the companies in the roll up will hit a 100,000,000 of EBITDA, and they're, like, less than two years old. Oh my god. Companies like that who say, for generating hundreds of millions of free cash flow, we don't need to be out fundraising every three to six months and doing the press tour and promising people AGIs around the corner. And, like, you don't... If you have a good business and you're making a lot of money and you're seeing AI implementation really working, a lot of our companies have remained really quiet or more stealthy despite doing amazing. But I am excited to hear these stories come out much more publicly, and obviously, we'll send them your way as well. But in the next six months or a year as we have these amazing proof points that I get to see being on the board of many of these companies, we're start... We're gonna start telling our story much more to the world with an angle of working now with more crossover firms, starting to prepare them to go public. It's really an amazing journey. For me, it feels a lot like in 2016 in crypto, there were a few people who thought it was legit, like USV and a 16. But most of the market was just trying to be polite because they didn't wanna offend USV and a sixteen z and Founders Fund, which was obviously really involved directly in Bitcoin. They were just trying to be polite, but they didn't really believe in it, and there were a few. I think we're kinda there in the AI roll up right now where, you know, ourselves and Eud and Thrive and a few others, ABC, have embraced it. But I think most of the market is still pretty skeptical, you know, similar to kind of the crypto evolution and where Bitcoin and stablecoins are today, you see very few people who say, hey. There's not value there. It's not interesting. I think that'll be us in a few years too. So it's been really fun, again, being on what I think is, like, a journey that will most definitely be proven true.
00:50:41 · Molly O'Shea, Marc Bhargava, Molly O'Shea
[00:50:41] S1: Oh, so fascinating and really cool to capture it at this point in time. Absolutely. I'm really excited to do a rapid fire interview with every single one of the companies. [00:50:52] S0: No. I think they should definitely do more press. And we have a few that are starting to do more, including Titan MSP and Eudia and Crescendo, but we're excited for the rest too as well. [00:51:01] S1: Okay. Well, Marc, it was a pleasure to have you on. Thank you so much for sharing more on the creation phone. [00:51:06] S0: Yeah. Thanks so much for having me. Was a real pleasure. [00:51:08] S2: Hey. It's Molly. If you enjoy our interviews, check out our newsletter, sourcery.vc, where we deliver a once a week top deals and tech headlines email and also go deeper on our podcast interviews. Subscribe to Sourcery today, and don't forget to subscribe to the podcast on YouTube, Spotify, Apple, or wherever you listen. Link in description to sign up.