56: Miles Grimshaw - Back Down the Mountain

Venture capital requires an "impatiently patient" approach, balancing proactive exploration with the discipline to wait for organic, high-potential partnerships. In the era of AI, the traditional "wall clock time" moats of software are eroding, necessitating a shift from building static tools to creating intelligence-driven, bespoke solutions. Founders must prioritize deep product craft and customer-centricity over superficial metrics like ARR, as these traits indicate durable genetic potential. Investors should act as partners in an infinite game, focusing on where a founder is looking rather than current manifestations of the product. By embracing intellectual humility—admitting "I don't know" to uncover ground truth—and maintaining a relentless drive to recruit and support ambitious teams, investors can navigate the rapid technological shifts that define the modern software landscape.