World Class

The distinguished Mr. Galt and I share many similarities in our thinking, but none more important than this: That anything we build together should and must be world class in every aspect. That's not to say that things will start out that way. Our hedge fund will not be launched in the same manner as Eric Mindich's fund. Our first $3 billion will come in a little slower than his did. But we share a vision regarding the final state of the finished product. Everything in between will be the critically important small steps along the way.

These small steps are going to be the hiring of some very bright people. We want them to spend most of their time thinking, not selling or doing admin. They should be wired to create, not to replicate. This organization is going to be very flat by design, with three levels of hierarchy max. Hierarchy is really not the right word anyway, we are going to build a meritocracy, where the rewards and honors will fall upon those who make significant positive contributions.

We are not going to broadcast our grand long term plans right now, or maybe ever. But we will say that the launch of the current fund will be followed by others over the next few years. There will be capital set aside for purely opportunistic situations as well. We will place a high premium on computing power at some point too. When we envision our finished product, it looks something like Citadel or Renaissance in scale and in scope.

We got our first check yesterday, so the pieces are falling into place at just the right time.