Maybe I'll talk about this because I think it's just very interesting to me. In the US, the VC ecosystem is very well developed, meaning people understand that VC is a long game, right?
Your reputation really matters. If you do anything bad, everyone's going to know, everyone knows each other, and so, almost as a function of this, there isn't any really bad stuff. Right? Most of the time it's competitive stuff. Okay, someone's much faster than you. Or someone has slightly more conviction. And so valuations go up all this kinda stuff. But like, everyone's quote unquote, like good player. VCs might be a little bit asshole or meaner sometimes. Right. But you're generally a good player in the ecosystem. Southeast Asia blew my mind. We're talking to founders, I'm like, wait, what are these terms? Why is there a ridiculous interest rate on this?
Or why are there five tranches of milestones that you have to go through. Why did this investor sign the term sheet, and like pulled out. It just blew my mind, all these things that happen. I don't know if short change is the right word here, but there's definitely a very different kinda ecosystem.