How I Invest with David Weisburd
01:04:07 · David Weisburd, Matthew Harris
[01:04:07] S1: I'm sure your kids have grown up in quite a privileged background. Is there a way to account for this in terms of how you parent them? [01:04:14] S0: It used to be that choosing the venture capital asset class was a good way to keep them from being too privileged. I mean, you know, I ran my own venture firm from, the late 90s through to twenty eleven, twenty twelve. And it was pretty lean years. So I think at least the older kids understand what it's like to grow up in New York and feel like dad doesn't run a hedge fund or mom doesn't run a hedge fund. I think it's a little harder with venture capital having been more productive. But at the same time, it's kind of an easy question. You remember how you were brought up. I remember a public school kid with two professor parents. And and I think if you think about it, you can remember what lessons you learned from whatever degree of denial and austerity versus whatever degree of privilege you were fortunate enough to have. And it doesn't mean that you have to pretend you don't have means. It's a conclusion we've come to. It just means that you have to, you know, build a life that makes sense and could reasonably be available to them in the future, even as they stand on their own. [01:05:21] S1: So that's set the standard too high.
01:05:21 · David Weisburd, Matthew Harris
[01:05:21] S1: So that's set the standard too high. [01:05:23] S0: Yeah, you can't. In our view, you can't indulge in private aviation. That's like again, not that we would anyway likely, but that's surely something that once a kid experiences and feels is normal, that without it for the rest of their life, it's just going to be it's going to be weird. And there are a lot of things in that category around how you spend vacations and what kind of home or homes you have, etcetera. So I actually think this is one where common sense is like pretty available and people just need to make, you know, good [01:05:58] S1: Well, on that note, this has been an absolute masterclass. Thanks so much for stopping by. [01:06:01] S0: That's great to be with you today. [01:06:03] S1: Congrats on getting to the end of my conversation with Matt. If you enjoyed that conversation, you're gonna love the conversation right here.