Guiding Principles
Guiding Principles
The businesses we work with are often built over many years through decisions made with care, discipline, and a strong sense of responsibility. We believe our own decisions should be guided in the same way, especially when the right choice is not the easiest one.
We use a small set of principles to keep our judgment consistent over time. They help us stay clear about how we work with founders, how we take responsibility for capital placed in our care, and how we think about the long-term future of the businesses we own.
The stories below are not our own, but examples we find meaningful. Each one reflects a moment where patience, integrity, speed, or attention to detail shaped the outcome. Together, they represent the kind of standards we try to hold ourselves to in our work.
Stewardship
We are trusted custodians of the capital, relationships, and reputation placed in our care. Every decision is made to protect, strengthen, and grow these assets for the long term.
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Infosys: No-Bribe Rule
We are trusted custodians of the capital, relationships, and reputation placed in our care. Every decision is made to protect, strengthen, and grow these assets for the long term.
Oxford Dictionary — Built Over Generations
The Oxford English Dictionary was built over decades by editors who knew their work would outlast them. Each entry was written with the expectation it would be read long into the future. Its authority comes from treating the work as something held in trust.
New York Times — Corrections Policy
The New York Times publishes corrections even for small errors most readers would never notice. Credibility is built slowly and protected by the discipline of fixing what is wrong, even when it would be easier to move on.
Velocity
We move quickly in the right direction. We act, learn, and adjust fast to capture opportunities before they pass, without compromising what matters for quality.
Moderna — Years Before the Moment
Years before COVID-19, Moderna invested heavily in building its mRNA platform without knowing when it would be needed. When the moment arrived, the company was able to respond in weeks. What looked like speed was the result of preparation done long before the opportunity appeared.
Eliud Kipchoge — Breaking the Two-Hour Marathon
For decades, running a marathon in under two hours was considered impossible. When Eliud Kipchoge finally did it, the run itself was only the last step of years of controlled training, small adjustments, and repeated attempts. The pace that day came from preparation that had been built slowly over time.
Shinkansen — Speed Through Routine
The cleaning crews for Japan’s Shinkansen trains have only a few minutes to prepare each train before departure. Every movement is practiced which clearly reflect in the turnaround, which happens without confusion. The system moves quickly because the work behind it is done the same way every time.
Conscientiousness
We are thorough, careful, and responsible in our work. We pay attention to detail, follow through on commitments, and ensure everything we deliver is complete, accurate, and dependable.
Pixar — Frame by Frame
Before releasing a film, Pixar reviews scenes repeatedly, often adjusting details most viewers will never notice. Lighting, motion, and timing are refined until the result feels right. The final quality comes from the willingness to keep working long after the first version is done.
Turing — The Imitation Game
At Bletchley Park, Alan Turing and his team worked through endless combinations to break the Enigma code, testing ideas, refining machines, and checking results again and again. The breakthrough came from staying with the problem longer than anyone else.
Michelangelo — Sistine Chapel
Michelangelo spent nearly four years painting the Sistine Chapel ceiling, working long hours on scaffolding and redoing sections he was not satisfied with. The scale was enormous, yet the work was done with such care that centuries later the result still reflects the patience behind it.