A firm is built deliberately to outlast its creator, though not every investor wants that. Technology matters, but the real test is whether you can build a people strategy strong enough to survive you.
Chapters
I think it's a good framing. I would also say there's a counterpoint, which is I know some people who have no interest in building firms, who are fantastic investors and are happy to build institutions that will not last 100 years and that will not outlive the person who built them. And I think that's fine, too. But I do think firms don't happen on accident, they only happen on purpose. And I think the part about the post that really resonated with me is if you're going to build a firm, and to me, a firm is something that will outlast its creator. I don't know if it has to be 100 years, but passed on, handed up. There's a lot of things. Yes, technology is important, but so are people. We have to also have, like a human capital people strategy.