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Give me an example of

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investment you made that

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really didn't fit the

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criteria and ended up

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doing well.

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One company we invested

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in a few years ago

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was called The Lumber

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Manufactory, and they build...

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They basically build,

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like, next generation sawmills.

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And it's pretty funny

13
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because almost every

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investor on the cap

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table thinks it's, like,

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their favorite or one of

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their favorite companies

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that they've met in the

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last five years.

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And most investors off

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the cap...

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Off the cap table are

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more like, this company

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makes lumber mills.

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Like, why is that a

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venture investment?

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That sounds like some

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kind of, like, PE or

29
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maybe, like, you know,

30
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like, traditional

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business play.

32
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But I think it's one

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where, like, the

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founders are extremely strong.

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The market is huge.

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And then in terms of,

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like, picking their own

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lane, this is a good

39
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example of, you know, in

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fourteen years in

41
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venture now, like, it's

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the only lumber mill

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company I've ever seen.

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And so they're just

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competing with

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incumbents from, like,

47
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thirty, fifty, a hundred

48
00:00:52,900 --> 00:00:54,100
years ago, but they're

49
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bringing in, you know,

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modern automation and AI

51
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and, like, you know,

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teams from, like...

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Or, like, team members

54
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from, like, Anduril and

55
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SpaceX and places like that.

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And I think it just

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gives them a huge

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advantage in a big market.