{"version":"1.0.0","segments":[{"speaker":"JESSE WEDLER","startTime":0.56,"endTime":3.722,"body":"I give this advice"},{"speaker":"JESSE WEDLER","startTime":0.56,"endTime":3.722,"body":"to any friends or early stage"},{"speaker":"JESSE WEDLER","startTime":3.722,"endTime":5.18,"body":"entrepreneurs but"},{"speaker":"JESSE WEDLER","startTime":3.722,"endTime":5.18,"body":"think, especially"},{"speaker":"JESSE WEDLER","startTime":5.18,"endTime":7.97,"body":"within insurance which"},{"speaker":"JESSE WEDLER","startTime":5.18,"endTime":7.97,"body":"is, pick your lane,"},{"speaker":"JESSE WEDLER","startTime":7.97,"endTime":11.3,"body":"have incredible focus,"},{"speaker":"JESSE WEDLER","startTime":7.97,"endTime":11.3,"body":"and just find something"},{"speaker":"JESSE WEDLER","startTime":11.3,"endTime":15.86,"body":"that you can be great at"},{"speaker":"JESSE WEDLER","startTime":11.3,"endTime":15.86,"body":"and stay focused on that."},{"speaker":"REID HOLZWORTH","startTime":15.86,"endTime":18.26,"body":"This is the"},{"speaker":"REID HOLZWORTH","startTime":15.86,"endTime":18.26,"body":"Insurance Technology Podcast"},{"speaker":"REID HOLZWORTH","startTime":18.26,"endTime":19.76,"body":"where we bring"},{"speaker":"REID HOLZWORTH","startTime":18.26,"endTime":19.76,"body":"interesting people"},{"speaker":"REID HOLZWORTH","startTime":19.76,"endTime":21.5,"body":"from across the"},{"speaker":"REID HOLZWORTH","startTime":19.76,"endTime":21.5,"body":"insurance ecosystem"},{"speaker":"REID HOLZWORTH","startTime":21.5,"endTime":23.15,"body":"to discuss and"},{"speaker":"REID HOLZWORTH","startTime":21.5,"endTime":23.15,"body":"debate technology's"},{"speaker":"REID HOLZWORTH","startTime":23.15,"endTime":25.08,"body":"impact on the industry."},{"speaker":"REID HOLZWORTH","startTime":25.08,"endTime":27.92,"body":"Join us each episode for"},{"speaker":"REID HOLZWORTH","startTime":25.08,"endTime":27.92,"body":"insights and best practices"},{"speaker":"REID HOLZWORTH","startTime":27.92,"endTime":31.26,"body":"from industry stewards"},{"speaker":"REID HOLZWORTH","startTime":27.92,"endTime":31.26,"body":"and tomorrow's innovators."},{"speaker":"REID HOLZWORTH","startTime":31.26,"endTime":37.61,"body":"Now, here's your"},{"speaker":"REID HOLZWORTH","startTime":31.26,"endTime":37.61,"body":"host Reid Holzworth"},{"speaker":"REID HOLZWORTH","startTime":37.61,"endTime":40.1,"body":"(VOICEOVER) Welcome to the"},{"speaker":"REID HOLZWORTH","startTime":37.61,"endTime":40.1,"body":"Insurance Technology Podcast."},{"speaker":"REID HOLZWORTH","startTime":40.1,"endTime":41.93,"body":"I'm your host Reid Holzworth."},{"speaker":"REID HOLZWORTH","startTime":41.93,"endTime":45.05,"body":"In this episode, I'm going to"},{"speaker":"REID HOLZWORTH","startTime":41.93,"endTime":45.05,"body":"be interviewing Jesse Wedler."},{"speaker":"REID HOLZWORTH","startTime":45.05,"endTime":47.42,"body":"Jesse Wedler is at CapitalG."},{"speaker":"REID HOLZWORTH","startTime":47.42,"endTime":49.16,"body":"capital like dollars."},{"speaker":"REID HOLZWORTH","startTime":49.16,"endTime":50.6,"body":"G, like Google."},{"speaker":"REID HOLZWORTH","startTime":50.6,"endTime":53.353,"body":"CapG is actually owned"},{"speaker":"REID HOLZWORTH","startTime":50.6,"endTime":53.353,"body":"by the parent fund."},{"speaker":"REID HOLZWORTH","startTime":53.353,"endTime":54.77,"body":"For those who"},{"speaker":"REID HOLZWORTH","startTime":53.353,"endTime":54.77,"body":"didn't know, there's"},{"speaker":"REID HOLZWORTH","startTime":54.77,"endTime":58.94,"body":"a parent fund that owns Google,"},{"speaker":"REID HOLZWORTH","startTime":54.77,"endTime":58.94,"body":"which is called Alphabet."},{"speaker":"REID HOLZWORTH","startTime":58.94,"endTime":62.48,"body":"Jesse has a very interesting"},{"speaker":"REID HOLZWORTH","startTime":58.94,"endTime":62.48,"body":"lens on this industry."},{"speaker":"REID HOLZWORTH","startTime":62.48,"endTime":65.03,"body":"He's been involved in this"},{"speaker":"REID HOLZWORTH","startTime":62.48,"endTime":65.03,"body":"industry for quite some time"},{"speaker":"REID HOLZWORTH","startTime":65.03,"endTime":68.15,"body":"and has been in the finance"},{"speaker":"REID HOLZWORTH","startTime":65.03,"endTime":68.15,"body":"side or on the finance side"},{"speaker":"REID HOLZWORTH","startTime":68.15,"endTime":69.47,"body":"his entire career."},{"speaker":"REID HOLZWORTH","startTime":69.47,"endTime":71.93,"body":"Jesse is just, and I"},{"speaker":"REID HOLZWORTH","startTime":69.47,"endTime":71.93,"body":"say this about everybody"},{"speaker":"REID HOLZWORTH","startTime":71.93,"endTime":76.4,"body":"but it's true, an awesome,"},{"speaker":"REID HOLZWORTH","startTime":71.93,"endTime":76.4,"body":"awesome dude for real."},{"speaker":"REID HOLZWORTH","startTime":76.4,"endTime":78.56,"body":"I've known Jesse for a"},{"speaker":"REID HOLZWORTH","startTime":76.4,"endTime":78.56,"body":"good amount of time, not"},{"speaker":"REID HOLZWORTH","startTime":78.56,"endTime":80.36,"body":"a real long time but"},{"speaker":"REID HOLZWORTH","startTime":78.56,"endTime":80.36,"body":"a good amount of time."},{"speaker":"REID HOLZWORTH","startTime":80.36,"endTime":83.93,"body":"And I've interacted"},{"speaker":"REID HOLZWORTH","startTime":80.36,"endTime":83.93,"body":"with him professionally."},{"speaker":"REID HOLZWORTH","startTime":83.93,"endTime":88.37,"body":"And Jesse is a really,"},{"speaker":"REID HOLZWORTH","startTime":83.93,"endTime":88.37,"body":"really smart dude."},{"speaker":"REID HOLZWORTH","startTime":88.37,"endTime":91.59,"body":"So he gets into some really"},{"speaker":"REID HOLZWORTH","startTime":88.37,"endTime":91.59,"body":"cool stuff in this episode."},{"speaker":"REID HOLZWORTH","startTime":91.59,"endTime":92.69,"body":"Stay tuned."},{"speaker":"REID HOLZWORTH","startTime":92.69,"endTime":95.52,"body":"You'll learn a lot."},{"speaker":"REID HOLZWORTH","startTime":95.52,"endTime":96.28,"body":"Jesse, welcome."},{"speaker":"JESSE WEDLER","startTime":96.28,"endTime":97.53,"body":"Thank, you Reid."},{"speaker":"JESSE WEDLER","startTime":97.53,"endTime":99.258,"body":"Stoked to be here."},{"speaker":"REID HOLZWORTH","startTime":99.258,"endTime":101.05,"body":"Thanks"},{"speaker":"REID HOLZWORTH","startTime":99.258,"endTime":101.05,"body":"for being here, man."},{"speaker":"REID HOLZWORTH","startTime":101.05,"endTime":103.14,"body":"I'm really excited to"},{"speaker":"REID HOLZWORTH","startTime":101.05,"endTime":103.14,"body":"have you on the show."},{"speaker":"REID HOLZWORTH","startTime":103.14,"endTime":109.48,"body":"Jesse, you're the first"},{"speaker":"REID HOLZWORTH","startTime":103.14,"endTime":109.48,"body":"guest in this finance world."},{"speaker":"REID HOLZWORTH","startTime":109.48,"endTime":113.94,"body":"So I'm really excited to"},{"speaker":"REID HOLZWORTH","startTime":109.48,"endTime":113.94,"body":"dive in a lot on that side."},{"speaker":"REID HOLZWORTH","startTime":113.94,"endTime":116.61,"body":"You're heavily involved"},{"speaker":"REID HOLZWORTH","startTime":113.94,"endTime":116.61,"body":"in insurance vertical."},{"speaker":"REID HOLZWORTH","startTime":116.61,"endTime":119.58,"body":"You know our space"},{"speaker":"REID HOLZWORTH","startTime":116.61,"endTime":119.58,"body":"very well, so, man, I'm"},{"speaker":"REID HOLZWORTH","startTime":119.58,"endTime":121.02,"body":"excited about this episode."},{"speaker":"JESSE WEDLER","startTime":121.02,"endTime":122.49,"body":"I'm stoked for it."},{"speaker":"REID HOLZWORTH","startTime":122.49,"endTime":124.36,"body":"But"},{"speaker":"REID HOLZWORTH","startTime":122.49,"endTime":124.36,"body":"before we get into that,"},{"speaker":"REID HOLZWORTH","startTime":124.36,"endTime":127.32,"body":"let's let the listeners"},{"speaker":"REID HOLZWORTH","startTime":124.36,"endTime":127.32,"body":"know, who is Jesse Wedler?"},{"speaker":"REID HOLZWORTH","startTime":127.32,"endTime":128.889,"body":"Where did Jesse come from?"},{"speaker":"REID HOLZWORTH","startTime":128.889,"endTime":132.083,"body":"So if you don't mind, give"},{"speaker":"REID HOLZWORTH","startTime":128.889,"endTime":132.083,"body":"us a little background."},{"speaker":"REID HOLZWORTH","startTime":132.083,"endTime":133.0,"body":"Where did you grow up?"},{"speaker":"REID HOLZWORTH","startTime":133.0,"endTime":134.92,"body":"What did your parents"},{"speaker":"REID HOLZWORTH","startTime":133.0,"endTime":134.92,"body":"do for a living?"},{"speaker":"REID HOLZWORTH","startTime":134.92,"endTime":136.14,"body":"What did you like to"},{"speaker":"REID HOLZWORTH","startTime":134.92,"endTime":136.14,"body":"when you're a kid?"},{"speaker":"JESSE WEDLER","startTime":136.14,"endTime":138.057,"body":"Let's go"},{"speaker":"JESSE WEDLER","startTime":136.14,"endTime":138.057,"body":"to the Wayback Machine."},{"speaker":"JESSE WEDLER","startTime":138.057,"endTime":140.73,"body":"So I grew up in"},{"speaker":"JESSE WEDLER","startTime":138.057,"endTime":140.73,"body":"Petaluma, California,"},{"speaker":"JESSE WEDLER","startTime":140.73,"endTime":142.002,"body":"egg basket of the world."},{"speaker":"REID HOLZWORTH","startTime":142.002,"endTime":144.21,"body":"I don't know"},{"speaker":"REID HOLZWORTH","startTime":142.002,"endTime":144.21,"body":"you grew up in Petaluma."},{"speaker":"REID HOLZWORTH","startTime":144.21,"endTime":145.44,"body":"That's cool, man."},{"speaker":"REID HOLZWORTH","startTime":145.44,"endTime":146.35,"body":"That's awesome."},{"speaker":"JESSE WEDLER","startTime":146.35,"endTime":147.043,"body":"I"},{"speaker":"JESSE WEDLER","startTime":146.35,"endTime":147.043,"body":"grew up in Petaluma,"},{"speaker":"JESSE WEDLER","startTime":147.043,"endTime":148.71,"body":"a bunch of old chicken"},{"speaker":"JESSE WEDLER","startTime":147.043,"endTime":148.71,"body":"houses because it"},{"speaker":"JESSE WEDLER","startTime":148.71,"endTime":150.36,"body":"was kind of the"},{"speaker":"JESSE WEDLER","startTime":148.71,"endTime":150.36,"body":"chicken ranch back"},{"speaker":"JESSE WEDLER","startTime":150.36,"endTime":153.96,"body":"in the 1800s, 1900s for San"},{"speaker":"JESSE WEDLER","startTime":150.36,"endTime":153.96,"body":"Francisco in the West Coast."},{"speaker":"JESSE WEDLER","startTime":153.96,"endTime":155.61,"body":"Grew up there."},{"speaker":"JESSE WEDLER","startTime":155.61,"endTime":160.48,"body":"My parents were kind of hippies"},{"speaker":"JESSE WEDLER","startTime":155.61,"endTime":160.48,"body":"that decided to get real jobs."},{"speaker":"JESSE WEDLER","startTime":160.48,"endTime":163.282,"body":"My dad did a bunch of networking"},{"speaker":"JESSE WEDLER","startTime":160.48,"endTime":163.282,"body":"for the local utility, which"},{"speaker":"JESSE WEDLER","startTime":163.282,"endTime":164.74,"body":"actually was really"},{"speaker":"JESSE WEDLER","startTime":163.282,"endTime":164.74,"body":"cool because it"},{"speaker":"JESSE WEDLER","startTime":164.74,"endTime":167.35,"body":"was early days of"},{"speaker":"JESSE WEDLER","startTime":164.74,"endTime":167.35,"body":"the internet and got"},{"speaker":"JESSE WEDLER","startTime":167.35,"endTime":168.61,"body":"exposed to that as a kid."},{"speaker":"JESSE WEDLER","startTime":168.61,"endTime":170.47,"body":"And then my mom was a teacher."},{"speaker":"JESSE WEDLER","startTime":170.47,"endTime":175.66,"body":"And they wanted me"},{"speaker":"JESSE WEDLER","startTime":170.47,"endTime":175.66,"body":"to go on to some"},{"speaker":"JESSE WEDLER","startTime":175.66,"endTime":178.8,"body":"to help the world type role"},{"speaker":"JESSE WEDLER","startTime":175.66,"endTime":178.8,"body":"and got into finance somehow."},{"speaker":"JESSE WEDLER","startTime":178.8,"endTime":180.033,"body":"I broke their hearts."},{"speaker":"JESSE WEDLER","startTime":180.033,"endTime":181.45,"body":"They still don't,"},{"speaker":"JESSE WEDLER","startTime":180.033,"endTime":181.45,"body":"I think, totally"},{"speaker":"JESSE WEDLER","startTime":181.45,"endTime":185.05,"body":"appreciate nor are"},{"speaker":"JESSE WEDLER","startTime":181.45,"endTime":185.05,"body":"they excited about what"},{"speaker":"JESSE WEDLER","startTime":185.05,"endTime":187.69,"body":"I do because it doesn't"},{"speaker":"JESSE WEDLER","startTime":185.05,"endTime":187.69,"body":"really help the community,"},{"speaker":"JESSE WEDLER","startTime":187.69,"endTime":190.75,"body":"but I just kind of fell"},{"speaker":"JESSE WEDLER","startTime":187.69,"endTime":190.75,"body":"into it and couldn't stop."},{"speaker":"REID HOLZWORTH","startTime":190.75,"endTime":192.25,"body":"That's awesome, man."},{"speaker":"REID HOLZWORTH","startTime":192.25,"endTime":194.63,"body":"So the whole time, you"},{"speaker":"REID HOLZWORTH","startTime":192.25,"endTime":194.63,"body":"grew up in Petaluma?"},{"speaker":"REID HOLZWORTH","startTime":194.63,"endTime":195.13,"body":"That's it."},{"speaker":"JESSE WEDLER","startTime":195.13,"endTime":195.94,"body":"The"},{"speaker":"JESSE WEDLER","startTime":195.13,"endTime":195.94,"body":"whole time Petaluma."},{"speaker":"JESSE WEDLER","startTime":195.94,"endTime":196.72,"body":"Parents are still there."},{"speaker":"JESSE WEDLER","startTime":196.72,"endTime":197.8,"body":"Brothers still there."},{"speaker":"JESSE WEDLER","startTime":197.8,"endTime":200.5,"body":"And now live an hour"},{"speaker":"JESSE WEDLER","startTime":197.8,"endTime":200.5,"body":"southeast of there."},{"speaker":"REID HOLZWORTH","startTime":200.5,"endTime":202.84,"body":"So"},{"speaker":"REID HOLZWORTH","startTime":200.5,"endTime":202.84,"body":"have you ever lived"},{"speaker":"REID HOLZWORTH","startTime":202.84,"endTime":205.035,"body":"outside of the San"},{"speaker":"REID HOLZWORTH","startTime":202.84,"endTime":205.035,"body":"Francisco area?"},{"speaker":"JESSE WEDLER","startTime":205.035,"endTime":206.41,"body":"I"},{"speaker":"JESSE WEDLER","startTime":205.035,"endTime":206.41,"body":"just kept getting"},{"speaker":"JESSE WEDLER","startTime":206.41,"endTime":208.99,"body":"stuck at every turn of life"},{"speaker":"JESSE WEDLER","startTime":206.41,"endTime":208.99,"body":"where I went to college here."},{"speaker":"JESSE WEDLER","startTime":208.99,"endTime":209.573,"body":"I went to Cal."},{"speaker":"JESSE WEDLER","startTime":209.573,"endTime":211.115,"body":"And then was going"},{"speaker":"JESSE WEDLER","startTime":209.573,"endTime":211.115,"body":"to go to New York,"},{"speaker":"JESSE WEDLER","startTime":211.115,"endTime":213.71,"body":"then got a job I was more"},{"speaker":"JESSE WEDLER","startTime":211.115,"endTime":213.71,"body":"excited about in San Francisco."},{"speaker":"JESSE WEDLER","startTime":213.71,"endTime":216.94,"body":"Then I met a girl fell in love"},{"speaker":"JESSE WEDLER","startTime":213.71,"endTime":216.94,"body":"with her here and just decided"},{"speaker":"JESSE WEDLER","startTime":216.94,"endTime":218.26,"body":"to stay."},{"speaker":"JESSE WEDLER","startTime":218.26,"endTime":220.87,"body":"And all the bad press"},{"speaker":"JESSE WEDLER","startTime":218.26,"endTime":220.87,"body":"about California, there's"},{"speaker":"JESSE WEDLER","startTime":220.87,"endTime":223.54,"body":"plenty of truth to some of it,"},{"speaker":"JESSE WEDLER","startTime":220.87,"endTime":223.54,"body":"but it's a pretty good spot"},{"speaker":"JESSE WEDLER","startTime":223.54,"endTime":225.22,"body":"to be also"},{"speaker":"REID HOLZWORTH","startTime":225.22,"endTime":226.87,"body":"I"},{"speaker":"REID HOLZWORTH","startTime":225.22,"endTime":226.87,"body":"love California, man."},{"speaker":"REID HOLZWORTH","startTime":226.87,"endTime":228.37,"body":"I grew up there."},{"speaker":"REID HOLZWORTH","startTime":228.37,"endTime":230.395,"body":"I was just telling you"},{"speaker":"REID HOLZWORTH","startTime":228.37,"endTime":230.395,"body":"before this started."},{"speaker":"REID HOLZWORTH","startTime":230.395,"endTime":231.52,"body":"I was just out in Monterey."},{"speaker":"REID HOLZWORTH","startTime":231.52,"endTime":235.3,"body":"And we went down to Carmel and"},{"speaker":"REID HOLZWORTH","startTime":231.52,"endTime":235.3,"body":"Big Sur and did all of that."},{"speaker":"REID HOLZWORTH","startTime":235.3,"endTime":237.61,"body":"That part of the country"},{"speaker":"REID HOLZWORTH","startTime":235.3,"endTime":237.61,"body":"is so beautiful, man,"},{"speaker":"REID HOLZWORTH","startTime":237.61,"endTime":238.45,"body":"northern California."},{"speaker":"JESSE WEDLER","startTime":238.45,"endTime":240.2,"body":"The"},{"speaker":"JESSE WEDLER","startTime":238.45,"endTime":240.2,"body":"natural beauty is crazy."},{"speaker":"JESSE WEDLER","startTime":240.2,"endTime":242.35,"body":"You can go be on the"},{"speaker":"JESSE WEDLER","startTime":240.2,"endTime":242.35,"body":"water in the morning,"},{"speaker":"JESSE WEDLER","startTime":242.35,"endTime":245.59,"body":"be up in the mountains in the"},{"speaker":"JESSE WEDLER","startTime":242.35,"endTime":245.59,"body":"afternoon, and go to the desert"},{"speaker":"JESSE WEDLER","startTime":245.59,"endTime":247.592,"body":"if you feel like it too,"},{"speaker":"JESSE WEDLER","startTime":245.59,"endTime":247.592,"body":"which is crazy range."},{"speaker":"REID HOLZWORTH","startTime":247.592,"endTime":248.8,"body":"It's awesome."},{"speaker":"REID HOLZWORTH","startTime":248.8,"endTime":250.52,"body":"I grew up in"},{"speaker":"REID HOLZWORTH","startTime":248.8,"endTime":250.52,"body":"Southern California,"},{"speaker":"REID HOLZWORTH","startTime":250.52,"endTime":251.77,"body":"Orange County, Laguna Beach."},{"speaker":"REID HOLZWORTH","startTime":251.77,"endTime":254.32,"body":"My dad actually moved."},{"speaker":"REID HOLZWORTH","startTime":254.32,"endTime":258.04,"body":"He's over it, over the whole"},{"speaker":"REID HOLZWORTH","startTime":254.32,"endTime":258.04,"body":"Southern California hustle."},{"speaker":"REID HOLZWORTH","startTime":258.04,"endTime":260.12,"body":"And he cashed out,"},{"speaker":"REID HOLZWORTH","startTime":258.04,"endTime":260.12,"body":"sold his house."},{"speaker":"REID HOLZWORTH","startTime":260.12,"endTime":263.89,"body":"And now he lives"},{"speaker":"REID HOLZWORTH","startTime":260.12,"endTime":263.89,"body":"up in Mendocino."},{"speaker":"REID HOLZWORTH","startTime":263.89,"endTime":267.19,"body":"It's really awesome because I"},{"speaker":"REID HOLZWORTH","startTime":263.89,"endTime":267.19,"body":"grew up Southern California."},{"speaker":"REID HOLZWORTH","startTime":267.19,"endTime":268.63,"body":"I know it really well."},{"speaker":"REID HOLZWORTH","startTime":268.63,"endTime":271.81,"body":"But now like experience, I"},{"speaker":"REID HOLZWORTH","startTime":268.63,"endTime":271.81,"body":"know San Francisco really well,"},{"speaker":"REID HOLZWORTH","startTime":271.81,"endTime":273.023,"body":"Bay Area and all of that."},{"speaker":"REID HOLZWORTH","startTime":273.023,"endTime":274.69,"body":"But going up the"},{"speaker":"REID HOLZWORTH","startTime":273.023,"endTime":274.69,"body":"people that don't know,"},{"speaker":"REID HOLZWORTH","startTime":274.69,"endTime":277.51,"body":"Mendocino is a few hours"},{"speaker":"REID HOLZWORTH","startTime":274.69,"endTime":277.51,"body":"north of San Francisco"},{"speaker":"REID HOLZWORTH","startTime":277.51,"endTime":278.29,"body":"and that's just."},{"speaker":"REID HOLZWORTH","startTime":278.29,"endTime":280.64,"body":"It's such a beautiful"},{"speaker":"REID HOLZWORTH","startTime":278.29,"endTime":280.64,"body":"part of the country."},{"speaker":"JESSE WEDLER","startTime":280.64,"endTime":282.2,"body":"And"},{"speaker":"JESSE WEDLER","startTime":280.64,"endTime":282.2,"body":"it's pretty rugged."},{"speaker":"REID HOLZWORTH","startTime":282.2,"endTime":282.645,"body":"It is."},{"speaker":"JESSE WEDLER","startTime":282.645,"endTime":284.18,"body":"It's real terrain."},{"speaker":"JESSE WEDLER","startTime":284.18,"endTime":286.72,"body":"And it's cold a lot of"},{"speaker":"JESSE WEDLER","startTime":284.18,"endTime":286.72,"body":"times, but it's beautiful."},{"speaker":"REID HOLZWORTH","startTime":286.72,"endTime":288.707,"body":"Very, very beautiful."},{"speaker":"REID HOLZWORTH","startTime":288.707,"endTime":291.97,"body":"So when you were a kid, what"},{"speaker":"REID HOLZWORTH","startTime":288.707,"endTime":291.97,"body":"was your favorite sport, hobby?"},{"speaker":"REID HOLZWORTH","startTime":291.97,"endTime":293.56,"body":"What were you into Jesse?"},{"speaker":"JESSE WEDLER","startTime":293.56,"endTime":295.54,"body":"I wasn't"},{"speaker":"JESSE WEDLER","startTime":293.56,"endTime":295.54,"body":"that athletic as a kid."},{"speaker":"JESSE WEDLER","startTime":295.54,"endTime":297.85,"body":"And with parents who"},{"speaker":"JESSE WEDLER","startTime":295.54,"endTime":297.85,"body":"old time hippies,"},{"speaker":"JESSE WEDLER","startTime":297.85,"endTime":300.41,"body":"they weren't really into"},{"speaker":"JESSE WEDLER","startTime":297.85,"endTime":300.41,"body":"organized sports as much."},{"speaker":"JESSE WEDLER","startTime":300.41,"endTime":304.57,"body":"And so I did a lot of camping,"},{"speaker":"JESSE WEDLER","startTime":300.41,"endTime":304.57,"body":"a lot of boating, fishing,"},{"speaker":"JESSE WEDLER","startTime":304.57,"endTime":306.25,"body":"ended up doing sailboat racing."},{"speaker":"JESSE WEDLER","startTime":306.25,"endTime":307.917,"body":"Actually, when I was"},{"speaker":"JESSE WEDLER","startTime":306.25,"endTime":307.917,"body":"a teenager, kind of"},{"speaker":"JESSE WEDLER","startTime":307.917,"endTime":310.27,"body":"fell into that not like"},{"speaker":"JESSE WEDLER","startTime":307.917,"endTime":310.27,"body":"glamorous yacht racing."},{"speaker":"JESSE WEDLER","startTime":310.27,"endTime":312.427,"body":"We're talking like"},{"speaker":"JESSE WEDLER","startTime":310.27,"endTime":312.427,"body":"hand-me-down boats,"},{"speaker":"JESSE WEDLER","startTime":312.427,"endTime":314.26,"body":"fixing them up on the"},{"speaker":"JESSE WEDLER","startTime":312.427,"endTime":314.26,"body":"weekends and going out"},{"speaker":"JESSE WEDLER","startTime":314.26,"endTime":316.36,"body":"and racing them on the water."},{"speaker":"JESSE WEDLER","startTime":316.36,"endTime":319.075,"body":"So always stuff feels like"},{"speaker":"JESSE WEDLER","startTime":316.36,"endTime":319.075,"body":"oriented around the water."},{"speaker":"JESSE WEDLER","startTime":319.075,"endTime":322.105,"body":"I don't know why but"},{"speaker":"JESSE WEDLER","startTime":319.075,"endTime":322.105,"body":"always spent a lot of time."},{"speaker":"JESSE WEDLER","startTime":322.105,"endTime":323.655,"body":"At California, we got the ocean."},{"speaker":"JESSE WEDLER","startTime":323.655,"endTime":324.28,"body":"We got the Bay."},{"speaker":"JESSE WEDLER","startTime":324.28,"endTime":326.26,"body":"We've got the Delta"},{"speaker":"JESSE WEDLER","startTime":324.28,"endTime":326.26,"body":"with a bunch of rivers"},{"speaker":"JESSE WEDLER","startTime":326.26,"endTime":328.46,"body":"and so just have a"},{"speaker":"JESSE WEDLER","startTime":326.26,"endTime":328.46,"body":"lot of fun with that."},{"speaker":"REID HOLZWORTH","startTime":328.46,"endTime":329.96,"body":"That's awesome, man."},{"speaker":"REID HOLZWORTH","startTime":329.96,"endTime":331.922,"body":"You still get out"},{"speaker":"REID HOLZWORTH","startTime":329.96,"endTime":331.922,"body":"sailing at all?"},{"speaker":"JESSE WEDLER","startTime":331.922,"endTime":333.38,"body":"Get"},{"speaker":"JESSE WEDLER","startTime":331.922,"endTime":333.38,"body":"out sailing some."},{"speaker":"JESSE WEDLER","startTime":333.38,"endTime":334.463,"body":"We've got an old ski boat."},{"speaker":"JESSE WEDLER","startTime":334.463,"endTime":336.05,"body":"We keep up in the Delta."},{"speaker":"JESSE WEDLER","startTime":336.05,"endTime":338.75,"body":"We take the sailboat"},{"speaker":"JESSE WEDLER","startTime":336.05,"endTime":338.75,"body":"up to the Delta."},{"speaker":"JESSE WEDLER","startTime":338.75,"endTime":341.03,"body":"We go camping in the"},{"speaker":"JESSE WEDLER","startTime":338.75,"endTime":341.03,"body":"summer on the boat"},{"speaker":"JESSE WEDLER","startTime":341.03,"endTime":344.66,"body":"and then go on little day"},{"speaker":"JESSE WEDLER","startTime":341.03,"endTime":344.66,"body":"trips on the ski boat,"},{"speaker":"JESSE WEDLER","startTime":344.66,"endTime":349.1,"body":"drag the ski boat up to lakes"},{"speaker":"JESSE WEDLER","startTime":344.66,"endTime":349.1,"body":"in the Sierras with the F150."},{"speaker":"JESSE WEDLER","startTime":349.1,"endTime":351.14,"body":"Yeah, just too"},{"speaker":"JESSE WEDLER","startTime":349.1,"endTime":351.14,"body":"much fun, too much"},{"speaker":"JESSE WEDLER","startTime":351.14,"endTime":352.348,"body":"play stuff to do around here."},{"speaker":"REID HOLZWORTH","startTime":352.348,"endTime":353.64,"body":"That's awesome."},{"speaker":"JESSE WEDLER","startTime":353.64,"endTime":355.52,"body":"But"},{"speaker":"JESSE WEDLER","startTime":353.64,"endTime":355.52,"body":"ironically, you can hardly"},{"speaker":"JESSE WEDLER","startTime":355.52,"endTime":356.775,"body":"get insurance in California."},{"speaker":"JESSE WEDLER","startTime":356.775,"endTime":358.4,"body":"I don't know if you"},{"speaker":"JESSE WEDLER","startTime":356.775,"endTime":358.4,"body":"saw the news today."},{"speaker":"JESSE WEDLER","startTime":358.4,"endTime":362.0,"body":"The State Farm is not going to"},{"speaker":"JESSE WEDLER","startTime":358.4,"endTime":362.0,"body":"issue new homeowners policies"},{"speaker":"JESSE WEDLER","startTime":362.0,"endTime":363.47,"body":"in California."},{"speaker":"JESSE WEDLER","startTime":363.47,"endTime":366.83,"body":"And so it's this"},{"speaker":"JESSE WEDLER","startTime":363.47,"endTime":366.83,"body":"insurance island out here"},{"speaker":"JESSE WEDLER","startTime":366.83,"endTime":370.07,"body":"but for a lot of good reasons."},{"speaker":"REID HOLZWORTH","startTime":370.07,"endTime":373.61,"body":"I was"},{"speaker":"REID HOLZWORTH","startTime":370.07,"endTime":373.61,"body":"an agency owner back"},{"speaker":"REID HOLZWORTH","startTime":373.61,"endTime":377.27,"body":"when State Farm, Allstate,"},{"speaker":"REID HOLZWORTH","startTime":373.61,"endTime":377.27,"body":"Travelers, all the bigs,"},{"speaker":"REID HOLZWORTH","startTime":377.27,"endTime":379.4,"body":"all the tier ones"},{"speaker":"REID HOLZWORTH","startTime":377.27,"endTime":379.4,"body":"pulled out of Florida"},{"speaker":"REID HOLZWORTH","startTime":379.4,"endTime":381.62,"body":"actually at an"},{"speaker":"REID HOLZWORTH","startTime":379.4,"endTime":381.62,"body":"agency in Florida."},{"speaker":"REID HOLZWORTH","startTime":381.62,"endTime":386.29,"body":"And it was crazy because"},{"speaker":"REID HOLZWORTH","startTime":381.62,"endTime":386.29,"body":"as independent agents,"},{"speaker":"REID HOLZWORTH","startTime":386.29,"endTime":388.22,"body":"it exploded."},{"speaker":"REID HOLZWORTH","startTime":388.22,"endTime":391.05,"body":"And all these small"},{"speaker":"REID HOLZWORTH","startTime":388.22,"endTime":391.05,"body":"homeowners carriers"},{"speaker":"REID HOLZWORTH","startTime":391.05,"endTime":392.852,"body":"just started coming"},{"speaker":"REID HOLZWORTH","startTime":391.05,"endTime":392.852,"body":"out of the woodwork."},{"speaker":"REID HOLZWORTH","startTime":392.852,"endTime":393.81,"body":"You're going to see it."},{"speaker":"REID HOLZWORTH","startTime":393.81,"endTime":395.64,"body":"They'll start coming"},{"speaker":"REID HOLZWORTH","startTime":393.81,"endTime":395.64,"body":"out of the woodwork."},{"speaker":"REID HOLZWORTH","startTime":395.64,"endTime":397.92,"body":"They're not AM Best rated."},{"speaker":"REID HOLZWORTH","startTime":397.92,"endTime":399.75,"body":"They're demo tech"},{"speaker":"REID HOLZWORTH","startTime":397.92,"endTime":399.75,"body":"rated companies,"},{"speaker":"REID HOLZWORTH","startTime":399.75,"endTime":403.47,"body":"but they'll start popping"},{"speaker":"REID HOLZWORTH","startTime":399.75,"endTime":403.47,"body":"up and taking on the risks."},{"speaker":"REID HOLZWORTH","startTime":403.47,"endTime":407.01,"body":"Does California have a thing"},{"speaker":"REID HOLZWORTH","startTime":403.47,"endTime":407.01,"body":"like Florida does like citizens"},{"speaker":"REID HOLZWORTH","startTime":407.01,"endTime":409.05,"body":"or it's forced placed,"},{"speaker":"REID HOLZWORTH","startTime":407.01,"endTime":409.05,"body":"not forced placed"},{"speaker":"REID HOLZWORTH","startTime":409.05,"endTime":411.42,"body":"but like a state run"},{"speaker":"REID HOLZWORTH","startTime":409.05,"endTime":411.42,"body":"situation, I assume?"},{"speaker":"JESSE WEDLER","startTime":411.42,"endTime":412.92,"body":"They"},{"speaker":"JESSE WEDLER","startTime":411.42,"endTime":412.92,"body":"do, and they make"},{"speaker":"JESSE WEDLER","startTime":412.92,"endTime":414.378,"body":"it really hard for"},{"speaker":"JESSE WEDLER","startTime":412.92,"endTime":414.378,"body":"the big carriers"},{"speaker":"JESSE WEDLER","startTime":414.378,"endTime":416.47,"body":"to play and really"},{"speaker":"JESSE WEDLER","startTime":414.378,"endTime":416.47,"body":"be profitable here,"},{"speaker":"JESSE WEDLER","startTime":416.47,"endTime":417.63,"body":"which is one of the issues."},{"speaker":"REID HOLZWORTH","startTime":417.63,"endTime":418.86,"body":"That's interesting."},{"speaker":"JESSE WEDLER","startTime":418.86,"endTime":419.67,"body":"Similar to Florida,"},{"speaker":"JESSE WEDLER","startTime":419.67,"endTime":421.44,"body":"there's such a"},{"speaker":"JESSE WEDLER","startTime":419.67,"endTime":421.44,"body":"huge cat risk here."},{"speaker":"JESSE WEDLER","startTime":421.44,"endTime":422.31,"body":"We got earthquakes."},{"speaker":"JESSE WEDLER","startTime":422.31,"endTime":423.57,"body":"Now you got these fires."},{"speaker":"JESSE WEDLER","startTime":423.57,"endTime":426.3,"body":"And so it's definitely"},{"speaker":"JESSE WEDLER","startTime":423.57,"endTime":426.3,"body":"a daunting spot"},{"speaker":"JESSE WEDLER","startTime":426.3,"endTime":428.4,"body":"to think about underwriting for."},{"speaker":"REID HOLZWORTH","startTime":428.4,"endTime":430.83,"body":"Its gnarly"},{"speaker":"REID HOLZWORTH","startTime":428.4,"endTime":430.83,"body":"man people don't too"},{"speaker":"REID HOLZWORTH","startTime":430.83,"endTime":433.26,"body":"I grew up like half our"},{"speaker":"REID HOLZWORTH","startTime":430.83,"endTime":433.26,"body":"town, half of Laguna"},{"speaker":"REID HOLZWORTH","startTime":433.26,"endTime":435.153,"body":"burned down when I"},{"speaker":"REID HOLZWORTH","startTime":433.26,"endTime":435.153,"body":"was a kid, burned"},{"speaker":"REID HOLZWORTH","startTime":435.153,"endTime":436.32,"body":"down the school, everything."},{"speaker":"REID HOLZWORTH","startTime":436.32,"endTime":437.64,"body":"With the fires, it was funny."},{"speaker":"REID HOLZWORTH","startTime":437.64,"endTime":439.2,"body":"I saw the fires"},{"speaker":"REID HOLZWORTH","startTime":437.64,"endTime":439.2,"body":"coming over the hills"},{"speaker":"REID HOLZWORTH","startTime":439.2,"endTime":440.19,"body":"and I was a kid at school."},{"speaker":"REID HOLZWORTH","startTime":440.19,"endTime":441.39,"body":"And I ran inside the office."},{"speaker":"REID HOLZWORTH","startTime":441.39,"endTime":443.44,"body":"I'm like, oh, the hills on fire."},{"speaker":"REID HOLZWORTH","startTime":443.44,"endTime":444.37,"body":"This is not good."},{"speaker":"REID HOLZWORTH","startTime":444.37,"endTime":447.09,"body":"Anyways, what"},{"speaker":"REID HOLZWORTH","startTime":444.37,"endTime":447.09,"body":"people don't realize"},{"speaker":"REID HOLZWORTH","startTime":447.09,"endTime":450.06,"body":"is that fires are one"},{"speaker":"REID HOLZWORTH","startTime":447.09,"endTime":450.06,"body":"thing that decimates stuff."},{"speaker":"REID HOLZWORTH","startTime":450.06,"endTime":453.84,"body":"But then if it rains, you"},{"speaker":"REID HOLZWORTH","startTime":450.06,"endTime":453.84,"body":"get all the mudslides."},{"speaker":"REID HOLZWORTH","startTime":453.84,"endTime":456.9,"body":"And it's compounds everything."},{"speaker":"REID HOLZWORTH","startTime":456.9,"endTime":458.07,"body":"It's so gnarly."},{"speaker":"REID HOLZWORTH","startTime":458.07,"endTime":459.252,"body":"California's a tough state."},{"speaker":"JESSE WEDLER","startTime":459.252,"endTime":460.71,"body":"Five"},{"speaker":"JESSE WEDLER","startTime":459.252,"endTime":460.71,"body":"years ago, there"},{"speaker":"JESSE WEDLER","startTime":460.71,"endTime":464.22,"body":"was those really bad fires in"},{"speaker":"JESSE WEDLER","startTime":460.71,"endTime":464.22,"body":"Santa Barbara and then three"},{"speaker":"JESSE WEDLER","startTime":464.22,"endTime":465.483,"body":"weeks later big rains."},{"speaker":"JESSE WEDLER","startTime":465.483,"endTime":466.65,"body":"We were actually down there."},{"speaker":"JESSE WEDLER","startTime":466.65,"endTime":467.79,"body":"We drove through Montecito."},{"speaker":"JESSE WEDLER","startTime":467.79,"endTime":471.66,"body":"And it was like huge mansions"},{"speaker":"JESSE WEDLER","startTime":467.79,"endTime":471.66,"body":"just like off their foundations"},{"speaker":"JESSE WEDLER","startTime":471.66,"endTime":474.3,"body":"that were just on"},{"speaker":"JESSE WEDLER","startTime":471.66,"endTime":474.3,"body":"the side of a road."},{"speaker":"JESSE WEDLER","startTime":474.3,"endTime":475.93,"body":"It was wild."},{"speaker":"REID HOLZWORTH","startTime":475.93,"endTime":478.23,"body":"That's wild,"},{"speaker":"REID HOLZWORTH","startTime":475.93,"endTime":478.23,"body":"just the whole thing slid."},{"speaker":"JESSE WEDLER","startTime":478.23,"endTime":479.897,"body":"It's"},{"speaker":"JESSE WEDLER","startTime":478.23,"endTime":479.897,"body":"the whole thing slid."},{"speaker":"JESSE WEDLER","startTime":479.897,"endTime":481.68,"body":"And in the summer now"},{"speaker":"JESSE WEDLER","startTime":479.897,"endTime":481.68,"body":"Northern California,"},{"speaker":"JESSE WEDLER","startTime":481.68,"endTime":482.595,"body":"the fires is such a real thing."},{"speaker":"JESSE WEDLER","startTime":482.595,"endTime":485.04,"body":"You have weeks on end where"},{"speaker":"JESSE WEDLER","startTime":482.595,"endTime":485.04,"body":"you can hardly even go outside"},{"speaker":"JESSE WEDLER","startTime":485.04,"endTime":486.207,"body":"and kids can't play outside."},{"speaker":"JESSE WEDLER","startTime":486.207,"endTime":487.56,"body":"The AQI is so high."},{"speaker":"JESSE WEDLER","startTime":487.56,"endTime":490.09,"body":"So hopefully, we get a"},{"speaker":"JESSE WEDLER","startTime":487.56,"endTime":490.09,"body":"good summer this year,"},{"speaker":"JESSE WEDLER","startTime":490.09,"endTime":493.62,"body":"but definitely a"},{"speaker":"JESSE WEDLER","startTime":490.09,"endTime":493.62,"body":"persistent issue."},{"speaker":"REID HOLZWORTH","startTime":493.62,"endTime":496.56,"body":"We can go on"},{"speaker":"REID HOLZWORTH","startTime":493.62,"endTime":496.56,"body":"and on about California, man."},{"speaker":"REID HOLZWORTH","startTime":496.56,"endTime":499.002,"body":"I'd love to pick your brain"},{"speaker":"REID HOLZWORTH","startTime":496.56,"endTime":499.002,"body":"sometime about the water."},{"speaker":"REID HOLZWORTH","startTime":499.002,"endTime":501.21,"body":"I hear this stuff people"},{"speaker":"REID HOLZWORTH","startTime":499.002,"endTime":501.21,"body":"are moving out of California"},{"speaker":"REID HOLZWORTH","startTime":501.21,"endTime":502.57,"body":"because there's no water."},{"speaker":"REID HOLZWORTH","startTime":502.57,"endTime":504.39,"body":"It's a funny place."},{"speaker":"REID HOLZWORTH","startTime":504.39,"endTime":507.12,"body":"But I'll say this,"},{"speaker":"REID HOLZWORTH","startTime":504.39,"endTime":507.12,"body":"California is one"},{"speaker":"REID HOLZWORTH","startTime":507.12,"endTime":509.04,"body":"of the most beautiful"},{"speaker":"REID HOLZWORTH","startTime":507.12,"endTime":509.04,"body":"states in this country."},{"speaker":"REID HOLZWORTH","startTime":509.04,"endTime":509.64,"body":"It is."},{"speaker":"REID HOLZWORTH","startTime":509.64,"endTime":510.81,"body":"It's so awesome."},{"speaker":"REID HOLZWORTH","startTime":510.81,"endTime":512.46,"body":"There is so much"},{"speaker":"REID HOLZWORTH","startTime":510.81,"endTime":512.46,"body":"to do in California"},{"speaker":"REID HOLZWORTH","startTime":512.46,"endTime":513.69,"body":"if you're an outdoors person."},{"speaker":"REID HOLZWORTH","startTime":513.69,"endTime":516.21,"body":"Similar to you, I didn't"},{"speaker":"REID HOLZWORTH","startTime":513.69,"endTime":516.21,"body":"grow up playing sports"},{"speaker":"REID HOLZWORTH","startTime":516.21,"endTime":518.37,"body":"because I grew up in"},{"speaker":"REID HOLZWORTH","startTime":516.21,"endTime":518.37,"body":"a beach town, man."},{"speaker":"REID HOLZWORTH","startTime":518.37,"endTime":522.69,"body":"And we were the"},{"speaker":"REID HOLZWORTH","startTime":518.37,"endTime":522.69,"body":"Laguna Beach artists."},{"speaker":"JESSE WEDLER","startTime":522.69,"endTime":525.63,"body":"You go"},{"speaker":"JESSE WEDLER","startTime":522.69,"endTime":525.63,"body":"surfing and body-boarding."},{"speaker":"REID HOLZWORTH","startTime":525.63,"endTime":528.54,"body":"100% all the"},{"speaker":"REID HOLZWORTH","startTime":525.63,"endTime":528.54,"body":"things, dude, mountain biking,"},{"speaker":"REID HOLZWORTH","startTime":528.54,"endTime":533.52,"body":"BMX, skateboarding, everything,"},{"speaker":"REID HOLZWORTH","startTime":528.54,"endTime":533.52,"body":"all the water sports,"},{"speaker":"REID HOLZWORTH","startTime":533.52,"endTime":535.41,"body":"skimboarding."},{"speaker":"REID HOLZWORTH","startTime":535.41,"endTime":536.88,"body":"Laguna is a huge"},{"speaker":"REID HOLZWORTH","startTime":535.41,"endTime":536.88,"body":"skimboarding town."},{"speaker":"REID HOLZWORTH","startTime":536.88,"endTime":539.888,"body":"That's where Victoria"},{"speaker":"REID HOLZWORTH","startTime":536.88,"endTime":539.888,"body":"Skimboards is from."},{"speaker":"JESSE WEDLER","startTime":539.888,"endTime":542.43,"body":"You don't want to"},{"speaker":"JESSE WEDLER","startTime":539.888,"endTime":542.43,"body":"go play some soccer game when"},{"speaker":"JESSE WEDLER","startTime":542.43,"endTime":543.553,"body":"you go be on the beach."},{"speaker":"REID HOLZWORTH","startTime":543.553,"endTime":544.47,"body":"Right."},{"speaker":"REID HOLZWORTH","startTime":544.47,"endTime":547.32,"body":"I know, right."},{"speaker":"REID HOLZWORTH","startTime":547.32,"endTime":549.9,"body":"So what did you want"},{"speaker":"REID HOLZWORTH","startTime":547.32,"endTime":549.9,"body":"to do when you grew up?"},{"speaker":"REID HOLZWORTH","startTime":549.9,"endTime":553.83,"body":"Jesse Wedler as a little kid,"},{"speaker":"REID HOLZWORTH","startTime":549.9,"endTime":553.83,"body":"I wanted to be a forest ranger."},{"speaker":"REID HOLZWORTH","startTime":553.83,"endTime":555.898,"body":"That's a fact."},{"speaker":"JESSE WEDLER","startTime":555.898,"endTime":557.19,"body":"I could see that."},{"speaker":"JESSE WEDLER","startTime":557.19,"endTime":559.95,"body":"You got the beard for it."},{"speaker":"JESSE WEDLER","startTime":559.95,"endTime":563.07,"body":"I did have a beard when I"},{"speaker":"JESSE WEDLER","startTime":559.95,"endTime":563.07,"body":"was seven too, by the way."},{"speaker":"REID HOLZWORTH","startTime":563.07,"endTime":567.78,"body":"Exactly, it"},{"speaker":"REID HOLZWORTH","startTime":563.07,"endTime":567.78,"body":"came in early, came in thick."},{"speaker":"REID HOLZWORTH","startTime":567.78,"endTime":569.31,"body":"What did you want to do, Jesse?"},{"speaker":"JESSE WEDLER","startTime":569.31,"endTime":572.13,"body":"I had"},{"speaker":"JESSE WEDLER","startTime":569.31,"endTime":572.13,"body":"phases of EMT and stuff"},{"speaker":"JESSE WEDLER","startTime":572.13,"endTime":574.14,"body":"like that, kind of"},{"speaker":"JESSE WEDLER","startTime":572.13,"endTime":574.14,"body":"little kid type passions."},{"speaker":"JESSE WEDLER","startTime":574.14,"endTime":579.21,"body":"I think, it is interesting just"},{"speaker":"JESSE WEDLER","startTime":574.14,"endTime":579.21,"body":"to think back because it all"},{"speaker":"JESSE WEDLER","startTime":579.21,"endTime":580.77,"body":"makes sense in retrospect."},{"speaker":"JESSE WEDLER","startTime":580.77,"endTime":586.23,"body":"At the time, I didn't really"},{"speaker":"JESSE WEDLER","startTime":580.77,"endTime":586.23,"body":"know how to describe it."},{"speaker":"JESSE WEDLER","startTime":586.23,"endTime":589.26,"body":"I mentioned earlier my dad"},{"speaker":"JESSE WEDLER","startTime":586.23,"endTime":589.26,"body":"being a networking professional"},{"speaker":"JESSE WEDLER","startTime":589.26,"endTime":590.88,"body":"for this local utility."},{"speaker":"JESSE WEDLER","startTime":590.88,"endTime":593.37,"body":"He was building their networks,"},{"speaker":"JESSE WEDLER","startTime":590.88,"endTime":593.37,"body":"but he had a front row"},{"speaker":"JESSE WEDLER","startTime":593.37,"endTime":594.345,"body":"seat to the internet."},{"speaker":"JESSE WEDLER","startTime":594.345,"endTime":596.97,"body":"And so I remember in '95, I was"},{"speaker":"JESSE WEDLER","startTime":594.345,"endTime":596.97,"body":"working on this school project."},{"speaker":"JESSE WEDLER","startTime":596.97,"endTime":598.53,"body":"He's like, you"},{"speaker":"JESSE WEDLER","startTime":596.97,"endTime":598.53,"body":"should use the world"},{"speaker":"JESSE WEDLER","startTime":598.53,"endTime":600.15,"body":"wide web to do your research."},{"speaker":"JESSE WEDLER","startTime":600.15,"endTime":601.68,"body":"I'm like, what the heck is that!"},{"speaker":"JESSE WEDLER","startTime":601.68,"endTime":603.63,"body":"He's like, it's the"},{"speaker":"JESSE WEDLER","startTime":601.68,"endTime":603.63,"body":"spider web of information,"},{"speaker":"JESSE WEDLER","startTime":603.63,"endTime":604.77,"body":"and you can find"},{"speaker":"JESSE WEDLER","startTime":603.63,"endTime":604.77,"body":"all this information"},{"speaker":"JESSE WEDLER","startTime":604.77,"endTime":606.495,"body":"from these different"},{"speaker":"JESSE WEDLER","startTime":604.77,"endTime":606.495,"body":"nodes of the spider web."},{"speaker":"JESSE WEDLER","startTime":606.495,"endTime":607.71,"body":"I'm like, dad you're crazy."},{"speaker":"JESSE WEDLER","startTime":607.71,"endTime":608.88,"body":"I don't know about that."},{"speaker":"JESSE WEDLER","startTime":608.88,"endTime":610.47,"body":"And it was like,"},{"speaker":"JESSE WEDLER","startTime":608.88,"endTime":610.47,"body":"early days, you're"},{"speaker":"JESSE WEDLER","startTime":610.47,"endTime":613.32,"body":"cruising Netscape or even"},{"speaker":"JESSE WEDLER","startTime":610.47,"endTime":613.32,"body":"browsers before Netscape"},{"speaker":"JESSE WEDLER","startTime":613.32,"endTime":614.61,"body":"just trying to access it."},{"speaker":"JESSE WEDLER","startTime":614.61,"endTime":615.67,"body":"And it was kind of cool."},{"speaker":"JESSE WEDLER","startTime":615.67,"endTime":619.53,"body":"And then I actually started"},{"speaker":"JESSE WEDLER","startTime":615.67,"endTime":619.53,"body":"playing around with web design."},{"speaker":"JESSE WEDLER","startTime":619.53,"endTime":622.38,"body":"And then being in the Bay"},{"speaker":"JESSE WEDLER","startTime":619.53,"endTime":622.38,"body":"Area during the late '90s"},{"speaker":"JESSE WEDLER","startTime":622.38,"endTime":624.51,"body":"where just all the"},{"speaker":"JESSE WEDLER","startTime":622.38,"endTime":624.51,"body":"craziness around dot"},{"speaker":"JESSE WEDLER","startTime":624.51,"endTime":626.52,"body":"com and all this innovation."},{"speaker":"JESSE WEDLER","startTime":626.52,"endTime":628.382,"body":"I didn't really know"},{"speaker":"JESSE WEDLER","startTime":626.52,"endTime":628.382,"body":"what to make of it,"},{"speaker":"JESSE WEDLER","startTime":628.382,"endTime":630.34,"body":"but I knew there was a"},{"speaker":"JESSE WEDLER","startTime":628.382,"endTime":630.34,"body":"lot of energy around it."},{"speaker":"JESSE WEDLER","startTime":630.34,"endTime":632.46,"body":"And it was like,"},{"speaker":"JESSE WEDLER","startTime":630.34,"endTime":632.46,"body":"wow, this looks cool."},{"speaker":"JESSE WEDLER","startTime":632.46,"endTime":634.97,"body":"I want to find a way"},{"speaker":"JESSE WEDLER","startTime":632.46,"endTime":634.97,"body":"to go get into that."},{"speaker":"JESSE WEDLER","startTime":634.97,"endTime":638.29,"body":"And so graduated college, worked"},{"speaker":"JESSE WEDLER","startTime":634.97,"endTime":638.29,"body":"in more traditional finance."},{"speaker":"JESSE WEDLER","startTime":638.29,"endTime":641.53,"body":"I started working at oil and"},{"speaker":"JESSE WEDLER","startTime":638.29,"endTime":641.53,"body":"gas, flying to Houston a bunch."},{"speaker":"JESSE WEDLER","startTime":641.53,"endTime":642.91,"body":"And I was like, what am I doing?"},{"speaker":"JESSE WEDLER","startTime":642.91,"endTime":643.952,"body":"I got to get out of this."},{"speaker":"JESSE WEDLER","startTime":643.952,"endTime":645.79,"body":"I got to find my way"},{"speaker":"JESSE WEDLER","startTime":643.952,"endTime":645.79,"body":"back to technology."},{"speaker":"JESSE WEDLER","startTime":645.79,"endTime":646.93,"body":"I like the Bay Area."},{"speaker":"JESSE WEDLER","startTime":646.93,"endTime":648.76,"body":"I know I want to"},{"speaker":"JESSE WEDLER","startTime":646.93,"endTime":648.76,"body":"work in technology."},{"speaker":"JESSE WEDLER","startTime":648.76,"endTime":651.61,"body":"That's the secular"},{"speaker":"JESSE WEDLER","startTime":648.76,"endTime":651.61,"body":"trend of my generation."},{"speaker":"JESSE WEDLER","startTime":651.61,"endTime":653.05,"body":"I got to get back to this."},{"speaker":"JESSE WEDLER","startTime":653.05,"endTime":654.82,"body":"Quit my job, went"},{"speaker":"JESSE WEDLER","startTime":653.05,"endTime":654.82,"body":"to business school."},{"speaker":"JESSE WEDLER","startTime":654.82,"endTime":656.68,"body":"I had a bunch of"},{"speaker":"JESSE WEDLER","startTime":654.82,"endTime":656.68,"body":"ideas that I was"},{"speaker":"JESSE WEDLER","startTime":656.68,"endTime":658.48,"body":"excited to go think"},{"speaker":"JESSE WEDLER","startTime":656.68,"endTime":658.48,"body":"about starting,"},{"speaker":"JESSE WEDLER","startTime":658.48,"endTime":660.55,"body":"played around with"},{"speaker":"JESSE WEDLER","startTime":658.48,"endTime":660.55,"body":"different company ideas."},{"speaker":"JESSE WEDLER","startTime":660.55,"endTime":664.36,"body":"And then I got"},{"speaker":"JESSE WEDLER","startTime":660.55,"endTime":664.36,"body":"convinced to go check"},{"speaker":"JESSE WEDLER","startTime":664.36,"endTime":666.76,"body":"out Google Capital, that was"},{"speaker":"JESSE WEDLER","startTime":664.36,"endTime":666.76,"body":"our old name, now CapitalG"},{"speaker":"JESSE WEDLER","startTime":666.76,"endTime":668.387,"body":"for the summer 10 years ago."},{"speaker":"JESSE WEDLER","startTime":668.387,"endTime":669.97,"body":"I was like, I'm going"},{"speaker":"JESSE WEDLER","startTime":668.387,"endTime":669.97,"body":"to go check this"},{"speaker":"JESSE WEDLER","startTime":669.97,"endTime":673.45,"body":"out, get a sense for what"},{"speaker":"JESSE WEDLER","startTime":669.97,"endTime":673.45,"body":"it's like inside of Google."},{"speaker":"JESSE WEDLER","startTime":673.45,"endTime":677.05,"body":"And 10 years later, I fell"},{"speaker":"JESSE WEDLER","startTime":673.45,"endTime":677.05,"body":"in love with the people there"},{"speaker":"JESSE WEDLER","startTime":677.05,"endTime":678.44,"body":"and what they were working on."},{"speaker":"JESSE WEDLER","startTime":678.44,"endTime":681.52,"body":"And so I didn't go start the"},{"speaker":"JESSE WEDLER","startTime":678.44,"endTime":681.52,"body":"ideas I was excited about"},{"speaker":"JESSE WEDLER","startTime":681.52,"endTime":683.38,"body":"but ended up in investing."},{"speaker":"JESSE WEDLER","startTime":683.38,"endTime":685.96,"body":"It's been a lot of"},{"speaker":"JESSE WEDLER","startTime":683.38,"endTime":685.96,"body":"fun and get to work"},{"speaker":"JESSE WEDLER","startTime":685.96,"endTime":687.76,"body":"on some really cool areas."},{"speaker":"REID HOLZWORTH","startTime":687.76,"endTime":689.54,"body":"So"},{"speaker":"REID HOLZWORTH","startTime":687.76,"endTime":689.54,"body":"your first foray,"},{"speaker":"REID HOLZWORTH","startTime":689.54,"endTime":693.65,"body":"if you will, into technology"},{"speaker":"REID HOLZWORTH","startTime":689.54,"endTime":693.65,"body":"was at CapG, formerly"},{"speaker":"REID HOLZWORTH","startTime":693.65,"endTime":694.4,"body":"Google Capital?"},{"speaker":"JESSE WEDLER","startTime":694.4,"endTime":695.192,"body":"Yeah."},{"speaker":"JESSE WEDLER","startTime":695.192,"endTime":696.835,"body":"I did some internet"},{"speaker":"JESSE WEDLER","startTime":695.192,"endTime":696.835,"body":"investment banking"},{"speaker":"JESSE WEDLER","startTime":696.835,"endTime":698.21,"body":"my early part of"},{"speaker":"JESSE WEDLER","startTime":696.835,"endTime":698.21,"body":"the career where"},{"speaker":"JESSE WEDLER","startTime":698.21,"endTime":701.678,"body":"we were valuing company"},{"speaker":"JESSE WEDLER","startTime":698.21,"endTime":701.678,"body":"early days of Facebook"},{"speaker":"JESSE WEDLER","startTime":701.678,"endTime":703.22,"body":"when they were"},{"speaker":"JESSE WEDLER","startTime":701.678,"endTime":703.22,"body":"private and everyone's"},{"speaker":"JESSE WEDLER","startTime":703.22,"endTime":704.845,"body":"trying to figure out"},{"speaker":"JESSE WEDLER","startTime":703.22,"endTime":704.845,"body":"how to value them."},{"speaker":"JESSE WEDLER","startTime":704.845,"endTime":707.18,"body":"But first real foray"},{"speaker":"JESSE WEDLER","startTime":704.845,"endTime":707.18,"body":"into technology investing"},{"speaker":"JESSE WEDLER","startTime":707.18,"endTime":708.41,"body":"was at CapitalG."},{"speaker":"JESSE WEDLER","startTime":708.41,"endTime":712.67,"body":"And [INAUDIBLE] CapitalG because"},{"speaker":"JESSE WEDLER","startTime":708.41,"endTime":712.67,"body":"we're a slightly unique model"},{"speaker":"JESSE WEDLER","startTime":712.67,"endTime":717.11,"body":"where we are a venture and"},{"speaker":"JESSE WEDLER","startTime":712.67,"endTime":717.11,"body":"growth focused investor,"},{"speaker":"JESSE WEDLER","startTime":717.11,"endTime":719.42,"body":"but Google Alphabet"},{"speaker":"JESSE WEDLER","startTime":717.11,"endTime":719.42,"body":"is our sole LP."},{"speaker":"JESSE WEDLER","startTime":719.42,"endTime":721.205,"body":"So we're underneath"},{"speaker":"JESSE WEDLER","startTime":719.42,"endTime":721.205,"body":"the Alphabet umbrella."},{"speaker":"JESSE WEDLER","startTime":721.205,"endTime":723.08,"body":"We get to work with all"},{"speaker":"JESSE WEDLER","startTime":721.205,"endTime":723.08,"body":"the teams at Alphabet"},{"speaker":"JESSE WEDLER","startTime":723.08,"endTime":724.913,"body":"to diligence the companies"},{"speaker":"JESSE WEDLER","startTime":723.08,"endTime":724.913,"body":"we're looking at,"},{"speaker":"JESSE WEDLER","startTime":724.913,"endTime":728.12,"body":"to help the companies, whether"},{"speaker":"JESSE WEDLER","startTime":724.913,"endTime":728.12,"body":"it be product and engineering"},{"speaker":"JESSE WEDLER","startTime":728.12,"endTime":730.64,"body":"questions they have"},{"speaker":"JESSE WEDLER","startTime":728.12,"endTime":730.64,"body":"or sales intros"},{"speaker":"JESSE WEDLER","startTime":730.64,"endTime":732.89,"body":"to companies that"},{"speaker":"JESSE WEDLER","startTime":730.64,"endTime":732.89,"body":"are around Google who"},{"speaker":"JESSE WEDLER","startTime":732.89,"endTime":734.28,"body":"we think would be a good fit."},{"speaker":"JESSE WEDLER","startTime":734.28,"endTime":737.937,"body":"And so we try to leverage and"},{"speaker":"JESSE WEDLER","startTime":734.28,"endTime":737.937,"body":"work with the teams at Google"},{"speaker":"JESSE WEDLER","startTime":737.937,"endTime":739.52,"body":"to go make better"},{"speaker":"JESSE WEDLER","startTime":737.937,"endTime":739.52,"body":"investments and help"},{"speaker":"JESSE WEDLER","startTime":739.52,"endTime":741.71,"body":"our companies after we invest."},{"speaker":"REID HOLZWORTH","startTime":741.71,"endTime":743.21,"body":"That's awesome, man."},{"speaker":"REID HOLZWORTH","startTime":743.21,"endTime":745.995,"body":"That's awesome."},{"speaker":"REID HOLZWORTH","startTime":745.995,"endTime":747.62,"body":"And I guess I actually"},{"speaker":"REID HOLZWORTH","startTime":745.995,"endTime":747.62,"body":"don't know this."},{"speaker":"REID HOLZWORTH","startTime":747.62,"endTime":748.55,"body":"I was just kind of figured."},{"speaker":"REID HOLZWORTH","startTime":748.55,"endTime":750.8,"body":"I know that you focus a lot"},{"speaker":"REID HOLZWORTH","startTime":748.55,"endTime":750.8,"body":"in the insurance vertical,"},{"speaker":"REID HOLZWORTH","startTime":750.8,"endTime":753.02,"body":"but is it financial"},{"speaker":"REID HOLZWORTH","startTime":750.8,"endTime":753.02,"body":"services in general?"},{"speaker":"REID HOLZWORTH","startTime":753.02,"endTime":755.737,"body":"What are you after?"},{"speaker":"JESSE WEDLER","startTime":755.737,"endTime":757.32,"body":"We're"},{"speaker":"JESSE WEDLER","startTime":755.737,"endTime":757.32,"body":"a generalist team."},{"speaker":"JESSE WEDLER","startTime":757.32,"endTime":759.32,"body":"And so a bunch of us"},{"speaker":"JESSE WEDLER","startTime":757.32,"endTime":759.32,"body":"look at different areas"},{"speaker":"JESSE WEDLER","startTime":759.32,"endTime":760.52,"body":"within technology."},{"speaker":"JESSE WEDLER","startTime":760.52,"endTime":763.07,"body":"And I started"},{"speaker":"JESSE WEDLER","startTime":760.52,"endTime":763.07,"body":"venturing towards what"},{"speaker":"JESSE WEDLER","startTime":763.07,"endTime":765.56,"body":"we call vertical software,"},{"speaker":"JESSE WEDLER","startTime":763.07,"endTime":765.56,"body":"which is software"},{"speaker":"JESSE WEDLER","startTime":765.56,"endTime":769.997,"body":"for specific industries and"},{"speaker":"JESSE WEDLER","startTime":765.56,"endTime":769.997,"body":"kept going further and realizing"},{"speaker":"JESSE WEDLER","startTime":769.997,"endTime":771.83,"body":"that the best vertical"},{"speaker":"JESSE WEDLER","startTime":769.997,"endTime":771.83,"body":"software markets were"},{"speaker":"JESSE WEDLER","startTime":771.83,"endTime":773.46,"body":"within financial services."},{"speaker":"JESSE WEDLER","startTime":773.46,"endTime":776.88,"body":"And so just spend more time"},{"speaker":"JESSE WEDLER","startTime":773.46,"endTime":776.88,"body":"increasingly around insurance,"},{"speaker":"JESSE WEDLER","startTime":776.88,"endTime":781.01,"body":"banking, other parts of"},{"speaker":"JESSE WEDLER","startTime":776.88,"endTime":781.01,"body":"broader financial services."},{"speaker":"JESSE WEDLER","startTime":781.01,"endTime":786.62,"body":"But to me it's interesting"},{"speaker":"JESSE WEDLER","startTime":781.01,"endTime":786.62,"body":"because financial services"},{"speaker":"JESSE WEDLER","startTime":786.62,"endTime":790.14,"body":"biggest category by far, just"},{"speaker":"JESSE WEDLER","startTime":786.62,"endTime":790.14,"body":"in terms of profit spending,"},{"speaker":"JESSE WEDLER","startTime":790.14,"endTime":792.92,"body":"et cetera, biggest"},{"speaker":"JESSE WEDLER","startTime":790.14,"endTime":792.92,"body":"category by far."},{"speaker":"JESSE WEDLER","startTime":792.92,"endTime":798.26,"body":"But still several years,"},{"speaker":"JESSE WEDLER","startTime":792.92,"endTime":798.26,"body":"if not generations,"},{"speaker":"JESSE WEDLER","startTime":798.26,"endTime":801.83,"body":"slower or behind"},{"speaker":"JESSE WEDLER","startTime":798.26,"endTime":801.83,"body":"where other industries"},{"speaker":"JESSE WEDLER","startTime":801.83,"endTime":805.07,"body":"are in terms of just cloud"},{"speaker":"JESSE WEDLER","startTime":801.83,"endTime":805.07,"body":"modern infrastructure"},{"speaker":"JESSE WEDLER","startTime":805.07,"endTime":807.63,"body":"and the way that"},{"speaker":"JESSE WEDLER","startTime":805.07,"endTime":807.63,"body":"companies are working."},{"speaker":"JESSE WEDLER","startTime":807.63,"endTime":810.05,"body":"I think a lot of that's"},{"speaker":"JESSE WEDLER","startTime":807.63,"endTime":810.05,"body":"because the incumbents have"},{"speaker":"JESSE WEDLER","startTime":810.05,"endTime":811.23,"body":"great business models."},{"speaker":"JESSE WEDLER","startTime":811.23,"endTime":814.135,"body":"And so the disruptors"},{"speaker":"JESSE WEDLER","startTime":811.23,"endTime":814.135,"body":"haven't out competed them."},{"speaker":"JESSE WEDLER","startTime":814.135,"endTime":816.26,"body":"So I think it's a fascinating"},{"speaker":"JESSE WEDLER","startTime":814.135,"endTime":816.26,"body":"space because there's"},{"speaker":"JESSE WEDLER","startTime":816.26,"endTime":817.97,"body":"so much detail and"},{"speaker":"JESSE WEDLER","startTime":816.26,"endTime":817.97,"body":"nuance in terms"},{"speaker":"JESSE WEDLER","startTime":817.97,"endTime":820.94,"body":"of how these companies work and"},{"speaker":"JESSE WEDLER","startTime":817.97,"endTime":820.94,"body":"a huge technology opportunity"},{"speaker":"JESSE WEDLER","startTime":820.94,"endTime":823.1,"body":"over the next 10 years."},{"speaker":"JESSE WEDLER","startTime":823.1,"endTime":827.095,"body":"And so it's a complex market."},{"speaker":"JESSE WEDLER","startTime":827.095,"endTime":828.47,"body":"You know that"},{"speaker":"JESSE WEDLER","startTime":827.095,"endTime":828.47,"body":"better than anyone."},{"speaker":"JESSE WEDLER","startTime":828.47,"endTime":830.06,"body":"But I think there's"},{"speaker":"JESSE WEDLER","startTime":828.47,"endTime":830.06,"body":"a huge technology"},{"speaker":"JESSE WEDLER","startTime":830.06,"endTime":833.908,"body":"opportunity around it"},{"speaker":"JESSE WEDLER","startTime":830.06,"endTime":833.908,"body":"in our career lifetime."},{"speaker":"JESSE WEDLER","startTime":833.908,"endTime":835.7,"body":"Someday they'll put us"},{"speaker":"JESSE WEDLER","startTime":833.908,"endTime":835.7,"body":"out to pasture read."},{"speaker":"JESSE WEDLER","startTime":835.7,"endTime":837.71,"body":"But in the next 10"},{"speaker":"JESSE WEDLER","startTime":835.7,"endTime":837.71,"body":"years, we got a shot"},{"speaker":"JESSE WEDLER","startTime":837.71,"endTime":839.068,"body":"at making an impact here."},{"speaker":"REID HOLZWORTH","startTime":839.068,"endTime":840.86,"body":"That's"},{"speaker":"REID HOLZWORTH","startTime":839.068,"endTime":840.86,"body":"pretty awesome, man."},{"speaker":"REID HOLZWORTH","startTime":840.86,"endTime":843.14,"body":"So what's like your profile?"},{"speaker":"REID HOLZWORTH","startTime":843.14,"endTime":844.28,"body":"What do you guys look for?"},{"speaker":"REID HOLZWORTH","startTime":844.28,"endTime":847.8,"body":"What size does CapG"},{"speaker":"REID HOLZWORTH","startTime":844.28,"endTime":847.8,"body":"typically invest in?"},{"speaker":"JESSE WEDLER","startTime":847.8,"endTime":850.45,"body":"So for us, it's"},{"speaker":"JESSE WEDLER","startTime":847.8,"endTime":850.45,"body":"typically post product market"},{"speaker":"JESSE WEDLER","startTime":850.45,"endTime":850.95,"body":"fit."},{"speaker":"JESSE WEDLER","startTime":850.95,"endTime":853.52,"body":"So series B and beyond is"},{"speaker":"JESSE WEDLER","startTime":850.95,"endTime":853.52,"body":"typically when we get involved."},{"speaker":"JESSE WEDLER","startTime":853.52,"endTime":855.08,"body":"But we got a really"},{"speaker":"JESSE WEDLER","startTime":853.52,"endTime":855.08,"body":"flexible mandate"},{"speaker":"JESSE WEDLER","startTime":855.08,"endTime":857.99,"body":"where we can invest from"},{"speaker":"JESSE WEDLER","startTime":855.08,"endTime":857.99,"body":"series B through IPO"},{"speaker":"JESSE WEDLER","startTime":857.99,"endTime":862.91,"body":"but also post IPO or perpetually"},{"speaker":"JESSE WEDLER","startTime":857.99,"endTime":862.91,"body":"private companies that"},{"speaker":"JESSE WEDLER","startTime":862.91,"endTime":864.2,"body":"are private equity backed."},{"speaker":"JESSE WEDLER","startTime":864.2,"endTime":867.14,"body":"And so to me, that's"},{"speaker":"JESSE WEDLER","startTime":864.2,"endTime":867.14,"body":"really fun because I think"},{"speaker":"JESSE WEDLER","startTime":867.14,"endTime":868.97,"body":"in a lot of markets,"},{"speaker":"JESSE WEDLER","startTime":867.14,"endTime":868.97,"body":"we always want"},{"speaker":"JESSE WEDLER","startTime":868.97,"endTime":870.92,"body":"to find the exciting"},{"speaker":"JESSE WEDLER","startTime":868.97,"endTime":870.92,"body":"disruptor that's"},{"speaker":"JESSE WEDLER","startTime":870.92,"endTime":874.97,"body":"going to go build a big"},{"speaker":"JESSE WEDLER","startTime":870.92,"endTime":874.97,"body":"business and has really a brand"},{"speaker":"JESSE WEDLER","startTime":874.97,"endTime":876.75,"body":"new approach to an industry."},{"speaker":"JESSE WEDLER","startTime":876.75,"endTime":879.08,"body":"But in a lot of use"},{"speaker":"JESSE WEDLER","startTime":876.75,"endTime":879.08,"body":"cases, we actually"},{"speaker":"JESSE WEDLER","startTime":879.08,"endTime":882.17,"body":"find that the incumbents are"},{"speaker":"JESSE WEDLER","startTime":879.08,"endTime":882.17,"body":"actually way better businesses."},{"speaker":"JESSE WEDLER","startTime":882.17,"endTime":883.76,"body":"If you look at"},{"speaker":"JESSE WEDLER","startTime":882.17,"endTime":883.76,"body":"something like Applied,"},{"speaker":"JESSE WEDLER","startTime":883.76,"endTime":885.92,"body":"I think Applied"},{"speaker":"JESSE WEDLER","startTime":883.76,"endTime":885.92,"body":"has by far the best"},{"speaker":"JESSE WEDLER","startTime":885.92,"endTime":888.65,"body":"technology for the"},{"speaker":"JESSE WEDLER","startTime":885.92,"endTime":888.65,"body":"independent agent channel."},{"speaker":"JESSE WEDLER","startTime":888.65,"endTime":891.26,"body":"And having the"},{"speaker":"JESSE WEDLER","startTime":888.65,"endTime":891.26,"body":"flexible mandate, we"},{"speaker":"JESSE WEDLER","startTime":891.26,"endTime":892.88,"body":"can go invest in a"},{"speaker":"JESSE WEDLER","startTime":891.26,"endTime":892.88,"body":"company like that"},{"speaker":"JESSE WEDLER","startTime":892.88,"endTime":894.89,"body":"even though they're"},{"speaker":"JESSE WEDLER","startTime":892.88,"endTime":894.89,"body":"not a startup per se,"},{"speaker":"JESSE WEDLER","startTime":894.89,"endTime":897.183,"body":"but they're just an"},{"speaker":"JESSE WEDLER","startTime":894.89,"endTime":897.183,"body":"incredible business."},{"speaker":"REID HOLZWORTH","startTime":897.183,"endTime":898.85,"body":"You"},{"speaker":"REID HOLZWORTH","startTime":897.183,"endTime":898.85,"body":"know what's funny is"},{"speaker":"REID HOLZWORTH","startTime":898.85,"endTime":904.55,"body":"when you guys invested in"},{"speaker":"REID HOLZWORTH","startTime":898.85,"endTime":904.55,"body":"Applied, the industry was like,"},{"speaker":"REID HOLZWORTH","startTime":904.55,"endTime":905.63,"body":"oh, no."},{"speaker":"REID HOLZWORTH","startTime":905.63,"endTime":907.11,"body":"This is scary."},{"speaker":"REID HOLZWORTH","startTime":907.11,"endTime":908.34,"body":"This is not good."},{"speaker":"REID HOLZWORTH","startTime":908.34,"endTime":909.938,"body":"Now Google's got"},{"speaker":"REID HOLZWORTH","startTime":908.34,"endTime":909.938,"body":"their mitts in there"},{"speaker":"REID HOLZWORTH","startTime":909.938,"endTime":911.48,"body":"and they're going"},{"speaker":"REID HOLZWORTH","startTime":909.938,"endTime":911.48,"body":"to get all the data"},{"speaker":"REID HOLZWORTH","startTime":911.48,"endTime":913.188,"body":"and do all this evil"},{"speaker":"REID HOLZWORTH","startTime":911.48,"endTime":913.188,"body":"stuff with the data."},{"speaker":"JESSE WEDLER","startTime":915.31,"endTime":917.06,"body":"We had"},{"speaker":"JESSE WEDLER","startTime":915.31,"endTime":917.06,"body":"to do press briefings"},{"speaker":"JESSE WEDLER","startTime":917.06,"endTime":919.52,"body":"with all the"},{"speaker":"JESSE WEDLER","startTime":917.06,"endTime":919.52,"body":"insurance press about,"},{"speaker":"JESSE WEDLER","startTime":919.52,"endTime":921.35,"body":"how is Google approaching this?"},{"speaker":"JESSE WEDLER","startTime":921.35,"endTime":923.42,"body":"How involved is"},{"speaker":"JESSE WEDLER","startTime":921.35,"endTime":923.42,"body":"Google going to be?"},{"speaker":"JESSE WEDLER","startTime":923.42,"endTime":924.8,"body":"Is there an end game in mind?"},{"speaker":"JESSE WEDLER","startTime":924.8,"endTime":925.91,"body":"It's like, no, no, no."},{"speaker":"JESSE WEDLER","startTime":925.91,"endTime":927.77,"body":"It's just a great"},{"speaker":"JESSE WEDLER","startTime":925.91,"endTime":927.77,"body":"financial investment"},{"speaker":"JESSE WEDLER","startTime":927.77,"endTime":929.52,"body":"in an awesome"},{"speaker":"JESSE WEDLER","startTime":927.77,"endTime":929.52,"body":"company that we think"},{"speaker":"JESSE WEDLER","startTime":929.52,"endTime":933.47,"body":"has a lot of potential"},{"speaker":"JESSE WEDLER","startTime":929.52,"endTime":933.47,"body":"and a lot more to run."},{"speaker":"REID HOLZWORTH","startTime":933.47,"endTime":935.97,"body":"How long ago"},{"speaker":"REID HOLZWORTH","startTime":933.47,"endTime":935.97,"body":"did you guys invest in Applied?"},{"speaker":"REID HOLZWORTH","startTime":935.97,"endTime":937.178,"body":"It was a number of years ago."},{"speaker":"JESSE WEDLER","startTime":937.178,"endTime":941.37,"body":"Five"},{"speaker":"JESSE WEDLER","startTime":937.178,"endTime":941.37,"body":"years ago, from 2018."},{"speaker":"REID HOLZWORTH","startTime":941.37,"endTime":944.34,"body":"I don't want to"},{"speaker":"REID HOLZWORTH","startTime":941.37,"endTime":944.34,"body":"go too far off on this tangent,"},{"speaker":"REID HOLZWORTH","startTime":944.34,"endTime":947.04,"body":"but I will just say this"},{"speaker":"REID HOLZWORTH","startTime":944.34,"endTime":947.04,"body":"being involved with it."},{"speaker":"REID HOLZWORTH","startTime":947.04,"endTime":949.65,"body":"Applied is crushing it, dude."},{"speaker":"REID HOLZWORTH","startTime":949.65,"endTime":951.75,"body":"It is a rocket ship right now."},{"speaker":"REID HOLZWORTH","startTime":951.75,"endTime":954.03,"body":"They really are."},{"speaker":"REID HOLZWORTH","startTime":954.03,"endTime":956.34,"body":"They're crushing it."},{"speaker":"JESSE WEDLER","startTime":956.34,"endTime":959.34,"body":"I think the"},{"speaker":"JESSE WEDLER","startTime":956.34,"endTime":959.34,"body":"venture world, incumbents"},{"speaker":"JESSE WEDLER","startTime":959.34,"endTime":961.62,"body":"like Applied get a bad"},{"speaker":"JESSE WEDLER","startTime":959.34,"endTime":961.62,"body":"rap because everyone just"},{"speaker":"JESSE WEDLER","startTime":961.62,"endTime":964.44,"body":"assumes there's some"},{"speaker":"JESSE WEDLER","startTime":961.62,"endTime":964.44,"body":"old sleepy business."},{"speaker":"JESSE WEDLER","startTime":964.44,"endTime":966.72,"body":"But there's beautiful"},{"speaker":"JESSE WEDLER","startTime":964.44,"endTime":966.72,"body":"businesses like Applied"},{"speaker":"JESSE WEDLER","startTime":966.72,"endTime":968.55,"body":"where they know the"},{"speaker":"JESSE WEDLER","startTime":966.72,"endTime":968.55,"body":"industry so well,"},{"speaker":"JESSE WEDLER","startTime":968.55,"endTime":970.425,"body":"they're already serving"},{"speaker":"JESSE WEDLER","startTime":968.55,"endTime":970.425,"body":"their customers well."},{"speaker":"JESSE WEDLER","startTime":970.425,"endTime":973.2,"body":"But when they have a desire"},{"speaker":"JESSE WEDLER","startTime":970.425,"endTime":973.2,"body":"to innovate on top of it"},{"speaker":"JESSE WEDLER","startTime":973.2,"endTime":978.635,"body":"and they're going to build a lot"},{"speaker":"JESSE WEDLER","startTime":973.2,"endTime":978.635,"body":"around what they already have,"},{"speaker":"JESSE WEDLER","startTime":978.635,"endTime":980.01,"body":"like you say, it's"},{"speaker":"JESSE WEDLER","startTime":978.635,"endTime":980.01,"body":"a rocket ship."},{"speaker":"JESSE WEDLER","startTime":980.01,"endTime":982.47,"body":"They're unstoppable"},{"speaker":"JESSE WEDLER","startTime":980.01,"endTime":982.47,"body":"when they have"},{"speaker":"JESSE WEDLER","startTime":982.47,"endTime":986.13,"body":"that right mix of really good"},{"speaker":"JESSE WEDLER","startTime":982.47,"endTime":986.13,"body":"domain expertise in existing"},{"speaker":"JESSE WEDLER","startTime":986.13,"endTime":988.77,"body":"product but desire to innovate."},{"speaker":"REID HOLZWORTH","startTime":988.77,"endTime":991.67,"body":"And when you look"},{"speaker":"REID HOLZWORTH","startTime":991.67,"endTime":995.54,"body":"at companies that invest"},{"speaker":"REID HOLZWORTH","startTime":991.67,"endTime":995.54,"body":"in businesses like Applied,"},{"speaker":"REID HOLZWORTH","startTime":995.54,"endTime":999.83,"body":"a lot of them out there will"},{"speaker":"REID HOLZWORTH","startTime":995.54,"endTime":999.83,"body":"just buy it, hold it, squeeze"},{"speaker":"REID HOLZWORTH","startTime":999.83,"endTime":1004.45,"body":"it, milk it, if you will."},{"speaker":"REID HOLZWORTH","startTime":1004.45,"endTime":1006.7,"body":"There's a lot of different"},{"speaker":"REID HOLZWORTH","startTime":1004.45,"endTime":1006.7,"body":"strategies there."},{"speaker":"REID HOLZWORTH","startTime":1006.7,"endTime":1012.97,"body":"But I feel like, and you tell"},{"speaker":"REID HOLZWORTH","startTime":1006.7,"endTime":1012.97,"body":"me, the investors in Applied,"},{"speaker":"REID HOLZWORTH","startTime":1012.97,"endTime":1016.87,"body":"the owners of applied really"},{"speaker":"REID HOLZWORTH","startTime":1012.97,"endTime":1016.87,"body":"have doubled down, tripled"},{"speaker":"REID HOLZWORTH","startTime":1016.87,"endTime":1019.63,"body":"down, quadrupled down"},{"speaker":"REID HOLZWORTH","startTime":1016.87,"endTime":1019.63,"body":"on that innovation"},{"speaker":"REID HOLZWORTH","startTime":1019.63,"endTime":1022.42,"body":"and really growing Applied"},{"speaker":"REID HOLZWORTH","startTime":1019.63,"endTime":1022.42,"body":"and letting Applied"},{"speaker":"REID HOLZWORTH","startTime":1022.42,"endTime":1026.694,"body":"get to that next level by"},{"speaker":"REID HOLZWORTH","startTime":1022.42,"endTime":1026.694,"body":"literally bringing down"},{"speaker":"REID HOLZWORTH","startTime":1026.694,"endTime":1027.819,"body":"when Taylor Rhodes came in."},{"speaker":"REID HOLZWORTH","startTime":1027.819,"endTime":1029.68,"body":"And I know this because"},{"speaker":"REID HOLZWORTH","startTime":1027.819,"endTime":1029.68,"body":"I'm involved in it."},{"speaker":"REID HOLZWORTH","startTime":1029.68,"endTime":1031.42,"body":"Bringing down EBITDA"},{"speaker":"REID HOLZWORTH","startTime":1029.68,"endTime":1031.42,"body":"and it's like, hey,"},{"speaker":"REID HOLZWORTH","startTime":1031.42,"endTime":1035.17,"body":"let's reinvest in the"},{"speaker":"REID HOLZWORTH","startTime":1031.42,"endTime":1035.17,"body":"business and let's really make"},{"speaker":"REID HOLZWORTH","startTime":1035.17,"endTime":1038.619,"body":"this thing what it could be."},{"speaker":"JESSE WEDLER","startTime":1038.619,"endTime":1040.569,"body":"I think"},{"speaker":"JESSE WEDLER","startTime":1038.619,"endTime":1040.569,"body":"private equity typically"},{"speaker":"JESSE WEDLER","startTime":1040.569,"endTime":1042.369,"body":"gets a reputation"},{"speaker":"JESSE WEDLER","startTime":1040.569,"endTime":1042.369,"body":"for, we're just"},{"speaker":"JESSE WEDLER","startTime":1042.369,"endTime":1045.4,"body":"going to buy it, squeeze it,"},{"speaker":"JESSE WEDLER","startTime":1042.369,"endTime":1045.4,"body":"and milk as much cash flow out"},{"speaker":"JESSE WEDLER","startTime":1045.4,"endTime":1046.45,"body":"of it as we can."},{"speaker":"JESSE WEDLER","startTime":1046.45,"endTime":1048.98,"body":"And that works in a"},{"speaker":"JESSE WEDLER","startTime":1046.45,"endTime":1048.98,"body":"lot of businesses,"},{"speaker":"JESSE WEDLER","startTime":1048.98,"endTime":1050.54,"body":"but I think it's"},{"speaker":"JESSE WEDLER","startTime":1048.98,"endTime":1050.54,"body":"also shortsighted"},{"speaker":"JESSE WEDLER","startTime":1050.54,"endTime":1054.17,"body":"because if you step back and"},{"speaker":"JESSE WEDLER","startTime":1050.54,"endTime":1054.17,"body":"you say, OK, if we actually"},{"speaker":"JESSE WEDLER","startTime":1054.17,"endTime":1057.2,"body":"invested some of this back into"},{"speaker":"JESSE WEDLER","startTime":1054.17,"endTime":1057.2,"body":"the business and really focus"},{"speaker":"JESSE WEDLER","startTime":1057.2,"endTime":1059.69,"body":"on innovation, what could"},{"speaker":"JESSE WEDLER","startTime":1057.2,"endTime":1059.69,"body":"we get from that investment?"},{"speaker":"JESSE WEDLER","startTime":1059.69,"endTime":1061.61,"body":"And it's never"},{"speaker":"JESSE WEDLER","startTime":1059.69,"endTime":1061.61,"body":"totally quantifiable."},{"speaker":"JESSE WEDLER","startTime":1061.61,"endTime":1065.57,"body":"If you try to get a product team"},{"speaker":"JESSE WEDLER","startTime":1061.61,"endTime":1065.57,"body":"to tell you the specific ROI"},{"speaker":"JESSE WEDLER","startTime":1065.57,"endTime":1067.28,"body":"on $1 invested, you can't."},{"speaker":"JESSE WEDLER","startTime":1067.28,"endTime":1069.98,"body":"You can't necessarily do that."},{"speaker":"JESSE WEDLER","startTime":1069.98,"endTime":1071.57,"body":"But when you have a"},{"speaker":"JESSE WEDLER","startTime":1069.98,"endTime":1071.57,"body":"fresh perspective,"},{"speaker":"JESSE WEDLER","startTime":1071.57,"endTime":1074.03,"body":"when you've got"},{"speaker":"JESSE WEDLER","startTime":1071.57,"endTime":1074.03,"body":"technology-oriented team,"},{"speaker":"JESSE WEDLER","startTime":1074.03,"endTime":1077.63,"body":"you can say, look, it's obvious"},{"speaker":"JESSE WEDLER","startTime":1074.03,"endTime":1077.63,"body":"that our customers need this."},{"speaker":"JESSE WEDLER","startTime":1077.63,"endTime":1081.41,"body":"Better connectivity to carriers"},{"speaker":"JESSE WEDLER","startTime":1077.63,"endTime":1081.41,"body":"is where the puck is going."},{"speaker":"JESSE WEDLER","startTime":1081.41,"endTime":1084.17,"body":"We have an opportunity to"},{"speaker":"JESSE WEDLER","startTime":1081.41,"endTime":1084.17,"body":"go be that and deliver that"},{"speaker":"JESSE WEDLER","startTime":1084.17,"endTime":1086.49,"body":"and why wouldn't we"},{"speaker":"JESSE WEDLER","startTime":1084.17,"endTime":1086.49,"body":"take a shot at it."},{"speaker":"JESSE WEDLER","startTime":1086.49,"endTime":1089.66,"body":"I think it's actually a good"},{"speaker":"JESSE WEDLER","startTime":1086.49,"endTime":1089.66,"body":"analogy for how the whole VC"},{"speaker":"JESSE WEDLER","startTime":1089.66,"endTime":1092.27,"body":"and tech ecosystems"},{"speaker":"JESSE WEDLER","startTime":1089.66,"endTime":1092.27,"body":"approached insurance,"},{"speaker":"JESSE WEDLER","startTime":1092.27,"endTime":1096.08,"body":"is they look at this huge"},{"speaker":"JESSE WEDLER","startTime":1092.27,"endTime":1096.08,"body":"market that's data-oriented"},{"speaker":"JESSE WEDLER","startTime":1096.08,"endTime":1099.77,"body":"where technology is"},{"speaker":"JESSE WEDLER","startTime":1096.08,"endTime":1099.77,"body":"obviously critical."},{"speaker":"JESSE WEDLER","startTime":1099.77,"endTime":1102.53,"body":"The common thing you hear"},{"speaker":"JESSE WEDLER","startTime":1099.77,"endTime":1102.53,"body":"in Silicon Valley is like,"},{"speaker":"JESSE WEDLER","startTime":1102.53,"endTime":1105.365,"body":"god, look at all those old"},{"speaker":"JESSE WEDLER","startTime":1102.53,"endTime":1105.365,"body":"incumbents when they're"},{"speaker":"JESSE WEDLER","startTime":1105.365,"endTime":1106.49,"body":"talking about the carriers."},{"speaker":"JESSE WEDLER","startTime":1106.49,"endTime":1109.1,"body":"There's got to be so much"},{"speaker":"JESSE WEDLER","startTime":1106.49,"endTime":1109.1,"body":"room to go outcompete"},{"speaker":"JESSE WEDLER","startTime":1109.1,"endTime":1111.003,"body":"these businesses just"},{"speaker":"JESSE WEDLER","startTime":1109.1,"endTime":1111.003,"body":"because they're old,"},{"speaker":"JESSE WEDLER","startTime":1111.003,"endTime":1113.42,"body":"not having appreciation for"},{"speaker":"JESSE WEDLER","startTime":1111.003,"endTime":1113.42,"body":"the complexity of the business"},{"speaker":"JESSE WEDLER","startTime":1113.42,"endTime":1114.53,"body":"or how well they're run."},{"speaker":"JESSE WEDLER","startTime":1114.53,"endTime":1117.78,"body":"But it's just that Silicon"},{"speaker":"JESSE WEDLER","startTime":1114.53,"endTime":1117.78,"body":"Valley disrupt mindset."},{"speaker":"JESSE WEDLER","startTime":1117.78,"endTime":1121.58,"body":"And so those mindsets"},{"speaker":"JESSE WEDLER","startTime":1117.78,"endTime":1121.58,"body":"creep in and people"},{"speaker":"JESSE WEDLER","startTime":1121.58,"endTime":1123.68,"body":"go fund companies"},{"speaker":"JESSE WEDLER","startTime":1121.58,"endTime":1123.68,"body":"or start projects"},{"speaker":"JESSE WEDLER","startTime":1123.68,"endTime":1125.45,"body":"to try to go compete"},{"speaker":"JESSE WEDLER","startTime":1123.68,"endTime":1125.45,"body":"in insurance."},{"speaker":"JESSE WEDLER","startTime":1125.45,"endTime":1129.86,"body":"And then you see the last wave"},{"speaker":"JESSE WEDLER","startTime":1125.45,"endTime":1129.86,"body":"of InsurTech, how much money"},{"speaker":"JESSE WEDLER","startTime":1129.86,"endTime":1133.76,"body":"went after, really a"},{"speaker":"JESSE WEDLER","startTime":1129.86,"endTime":1133.76,"body":"growth-oriented approach"},{"speaker":"JESSE WEDLER","startTime":1133.76,"endTime":1136.94,"body":"without having a"},{"speaker":"JESSE WEDLER","startTime":1133.76,"endTime":1136.94,"body":"good understanding"},{"speaker":"JESSE WEDLER","startTime":1136.94,"endTime":1140.03,"body":"for how to underwrite and how"},{"speaker":"JESSE WEDLER","startTime":1136.94,"endTime":1140.03,"body":"to actually be a good insurance"},{"speaker":"JESSE WEDLER","startTime":1140.03,"endTime":1140.87,"body":"business."},{"speaker":"JESSE WEDLER","startTime":1140.87,"endTime":1144.05,"body":"And they try it for a few years,"},{"speaker":"JESSE WEDLER","startTime":1140.87,"endTime":1144.05,"body":"a bunch of money goes into it,"},{"speaker":"JESSE WEDLER","startTime":1144.05,"endTime":1146.18,"body":"and they run scared."},{"speaker":"JESSE WEDLER","startTime":1146.18,"endTime":1149.24,"body":"It's just a lot harder"},{"speaker":"JESSE WEDLER","startTime":1146.18,"endTime":1149.24,"body":"than people appreciate."},{"speaker":"REID HOLZWORTH","startTime":1149.24,"endTime":1151.34,"body":"I've"},{"speaker":"REID HOLZWORTH","startTime":1149.24,"endTime":1151.34,"body":"seen a lot of people put"},{"speaker":"REID HOLZWORTH","startTime":1151.34,"endTime":1152.87,"body":"huge money into some of these."},{"speaker":"REID HOLZWORTH","startTime":1152.87,"endTime":1154.453,"body":"And now we're starting"},{"speaker":"REID HOLZWORTH","startTime":1152.87,"endTime":1154.453,"body":"to see them all"},{"speaker":"REID HOLZWORTH","startTime":1154.453,"endTime":1156.427,"body":"fizzle out in the market."},{"speaker":"JESSE WEDLER","startTime":1156.427,"endTime":1158.51,"body":"I was looking"},{"speaker":"JESSE WEDLER","startTime":1156.427,"endTime":1158.51,"body":"at this stat recently."},{"speaker":"JESSE WEDLER","startTime":1158.51,"endTime":1163.143,"body":"But if you just look at the"},{"speaker":"JESSE WEDLER","startTime":1158.51,"endTime":1163.143,"body":"personal line-focused carriers"},{"speaker":"JESSE WEDLER","startTime":1163.143,"endTime":1165.56,"body":"that all raise a bunch of money"},{"speaker":"JESSE WEDLER","startTime":1163.143,"endTime":1165.56,"body":"and went public and aren't"},{"speaker":"JESSE WEDLER","startTime":1165.56,"endTime":1168.71,"body":"doing as well today, I"},{"speaker":"JESSE WEDLER","startTime":1165.56,"endTime":1168.71,"body":"think they raised twice"},{"speaker":"JESSE WEDLER","startTime":1168.71,"endTime":1173.87,"body":"as much money as their current"},{"speaker":"JESSE WEDLER","startTime":1168.71,"endTime":1173.87,"body":"market cap, which is just"},{"speaker":"JESSE WEDLER","startTime":1173.87,"endTime":1174.995,"body":"shows you how hard this is."},{"speaker":"JESSE WEDLER","startTime":1174.995,"endTime":1176.453,"body":"When you think"},{"speaker":"JESSE WEDLER","startTime":1174.995,"endTime":1176.453,"body":"about how much money"},{"speaker":"JESSE WEDLER","startTime":1176.453,"endTime":1178.43,"body":"was spent to go grow"},{"speaker":"JESSE WEDLER","startTime":1176.453,"endTime":1178.43,"body":"these businesses build"},{"speaker":"JESSE WEDLER","startTime":1178.43,"endTime":1180.95,"body":"these businesses,"},{"speaker":"JESSE WEDLER","startTime":1178.43,"endTime":1180.95,"body":"it's just so humbling."},{"speaker":"JESSE WEDLER","startTime":1180.95,"endTime":1183.132,"body":"And so we have a lot"},{"speaker":"JESSE WEDLER","startTime":1180.95,"endTime":1183.132,"body":"of respect for what"},{"speaker":"JESSE WEDLER","startTime":1183.132,"endTime":1184.34,"body":"those teams are trying to do."},{"speaker":"JESSE WEDLER","startTime":1184.34,"endTime":1186.65,"body":"We've looked at them, called"},{"speaker":"JESSE WEDLER","startTime":1184.34,"endTime":1186.65,"body":"you about many of them,"},{"speaker":"JESSE WEDLER","startTime":1186.65,"endTime":1189.38,"body":"tortured ourselves saying,"},{"speaker":"JESSE WEDLER","startTime":1186.65,"endTime":1189.38,"body":"god, are we missing it?"},{"speaker":"JESSE WEDLER","startTime":1189.38,"endTime":1193.76,"body":"But think whether"},{"speaker":"JESSE WEDLER","startTime":1189.38,"endTime":1193.76,"body":"we're too slow moving"},{"speaker":"JESSE WEDLER","startTime":1193.76,"endTime":1197.12,"body":"or we've got too high"},{"speaker":"JESSE WEDLER","startTime":1193.76,"endTime":1197.12,"body":"a benchmark for what"},{"speaker":"JESSE WEDLER","startTime":1197.12,"endTime":1200.78,"body":"a good company is, we stayed"},{"speaker":"JESSE WEDLER","startTime":1197.12,"endTime":1200.78,"body":"patient like you were saying"},{"speaker":"JESSE WEDLER","startTime":1200.78,"endTime":1203.3,"body":"and invested in a"},{"speaker":"JESSE WEDLER","startTime":1200.78,"endTime":1203.3,"body":"mix of businesses"},{"speaker":"JESSE WEDLER","startTime":1203.3,"endTime":1204.943,"body":"that we're really excited about."},{"speaker":"REID HOLZWORTH","startTime":1204.943,"endTime":1207.11,"body":"I don't"},{"speaker":"REID HOLZWORTH","startTime":1204.943,"endTime":1207.11,"body":"think it's slow moving, man."},{"speaker":"REID HOLZWORTH","startTime":1207.11,"endTime":1209.047,"body":"You're just really"},{"speaker":"REID HOLZWORTH","startTime":1207.11,"endTime":1209.047,"body":"calculated, Jesse."},{"speaker":"JESSE WEDLER","startTime":1209.047,"endTime":1210.38,"body":"I appreciate that."},{"speaker":"REID HOLZWORTH","startTime":1210.38,"endTime":1212.66,"body":"All you"},{"speaker":"REID HOLZWORTH","startTime":1210.38,"endTime":1212.66,"body":"guys are just you sit back."},{"speaker":"REID HOLZWORTH","startTime":1212.66,"endTime":1218.0,"body":"And it's been good, and it's"},{"speaker":"REID HOLZWORTH","startTime":1212.66,"endTime":1218.0,"body":"paying off for you guys,"},{"speaker":"REID HOLZWORTH","startTime":1218.0,"endTime":1218.99,"body":"I assume."},{"speaker":"JESSE WEDLER","startTime":1218.99,"endTime":1219.99,"body":"Thank you."},{"speaker":"JESSE WEDLER","startTime":1219.99,"endTime":1223.01,"body":"Well, if you find any more good"},{"speaker":"JESSE WEDLER","startTime":1219.99,"endTime":1223.01,"body":"ones, we're looking for more."},{"speaker":"JESSE WEDLER","startTime":1223.01,"endTime":1224.54,"body":"We're trying to"},{"speaker":"JESSE WEDLER","startTime":1223.01,"endTime":1224.54,"body":"grow the portfolio."},{"speaker":"REID HOLZWORTH","startTime":1224.54,"endTime":1225.89,"body":"Isn't"},{"speaker":"REID HOLZWORTH","startTime":1224.54,"endTime":1225.89,"body":"everybody though?"},{"speaker":"REID HOLZWORTH","startTime":1225.89,"endTime":1227.21,"body":"Let's talk about that quick."},{"speaker":"REID HOLZWORTH","startTime":1227.21,"endTime":1228.92,"body":"There's not a lot they."},{"speaker":"REID HOLZWORTH","startTime":1228.92,"endTime":1231.17,"body":"I went off on a tangent"},{"speaker":"REID HOLZWORTH","startTime":1228.92,"endTime":1231.17,"body":"not that long ago"},{"speaker":"REID HOLZWORTH","startTime":1231.17,"endTime":1233.58,"body":"about where's all"},{"speaker":"REID HOLZWORTH","startTime":1231.17,"endTime":1233.58,"body":"the innovation, guys?"},{"speaker":"REID HOLZWORTH","startTime":1233.58,"endTime":1234.08,"body":"Come on."},{"speaker":"REID HOLZWORTH","startTime":1234.08,"endTime":1234.71,"body":"Bring it on."},{"speaker":"REID HOLZWORTH","startTime":1234.71,"endTime":1236.79,"body":"And like, once people"},{"speaker":"REID HOLZWORTH","startTime":1234.71,"endTime":1236.79,"body":"got mad at me about it,"},{"speaker":"REID HOLZWORTH","startTime":1236.79,"endTime":1238.4,"body":"I mean, not really."},{"speaker":"REID HOLZWORTH","startTime":1238.4,"endTime":1242.21,"body":"But then I'm like, all"},{"speaker":"REID HOLZWORTH","startTime":1238.4,"endTime":1242.21,"body":"right, well, show me."},{"speaker":"REID HOLZWORTH","startTime":1242.21,"endTime":1247.19,"body":"I haven't been"},{"speaker":"REID HOLZWORTH","startTime":1242.21,"endTime":1247.19,"body":"seeing a lot of that."},{"speaker":"REID HOLZWORTH","startTime":1247.19,"endTime":1249.14,"body":"It's a little bit"},{"speaker":"REID HOLZWORTH","startTime":1247.19,"endTime":1249.14,"body":"frustrating because it's"},{"speaker":"REID HOLZWORTH","startTime":1249.14,"endTime":1253.25,"body":"you want it to come out and you"},{"speaker":"REID HOLZWORTH","startTime":1249.14,"endTime":1253.25,"body":"want the industry to get better"},{"speaker":"REID HOLZWORTH","startTime":1253.25,"endTime":1254.927,"body":"in those ways, but"},{"speaker":"REID HOLZWORTH","startTime":1253.25,"endTime":1254.927,"body":"I'm just not seeing"},{"speaker":"REID HOLZWORTH","startTime":1254.927,"endTime":1256.01,"body":"a lot of stuff that's out."},{"speaker":"REID HOLZWORTH","startTime":1256.01,"endTime":1258.02,"body":"I'm not seeing"},{"speaker":"REID HOLZWORTH","startTime":1256.01,"endTime":1258.02,"body":"new stuff nor am I"},{"speaker":"REID HOLZWORTH","startTime":1258.02,"endTime":1261.8,"body":"seeing existing stuff"},{"speaker":"REID HOLZWORTH","startTime":1258.02,"endTime":1261.8,"body":"that's really taking off"},{"speaker":"REID HOLZWORTH","startTime":1261.8,"endTime":1264.68,"body":"and doing big things."},{"speaker":"REID HOLZWORTH","startTime":1264.68,"endTime":1266.032,"body":"That's me."},{"speaker":"JESSE WEDLER","startTime":1266.032,"endTime":1267.74,"body":"I share"},{"speaker":"JESSE WEDLER","startTime":1266.032,"endTime":1267.74,"body":"that point of view."},{"speaker":"JESSE WEDLER","startTime":1267.74,"endTime":1269.12,"body":"I think there's"},{"speaker":"JESSE WEDLER","startTime":1267.74,"endTime":1269.12,"body":"an open question."},{"speaker":"JESSE WEDLER","startTime":1269.12,"endTime":1271.92,"body":"What will I do for insurance?"},{"speaker":"JESSE WEDLER","startTime":1271.92,"endTime":1275.72,"body":"My guess is that there will be"},{"speaker":"JESSE WEDLER","startTime":1271.92,"endTime":1275.72,"body":"a new hype cycle that comes out"},{"speaker":"JESSE WEDLER","startTime":1275.72,"endTime":1280.28,"body":"of it of new InsurTech funding"},{"speaker":"JESSE WEDLER","startTime":1275.72,"endTime":1280.28,"body":"from generalist venture"},{"speaker":"JESSE WEDLER","startTime":1280.28,"endTime":1283.64,"body":"capitalists who say, wow, this"},{"speaker":"JESSE WEDLER","startTime":1280.28,"endTime":1283.64,"body":"is a huge application, huge end"},{"speaker":"JESSE WEDLER","startTime":1283.64,"endTime":1284.48,"body":"market."},{"speaker":"JESSE WEDLER","startTime":1284.48,"endTime":1285.86,"body":"Let's go do it."},{"speaker":"JESSE WEDLER","startTime":1285.86,"endTime":1287.22,"body":"I bet some of them will work."},{"speaker":"JESSE WEDLER","startTime":1287.22,"endTime":1288.72,"body":"I think it's also"},{"speaker":"JESSE WEDLER","startTime":1287.22,"endTime":1288.72,"body":"an open question."},{"speaker":"JESSE WEDLER","startTime":1288.72,"endTime":1290.137,"body":"Should it be"},{"speaker":"JESSE WEDLER","startTime":1288.72,"endTime":1290.137,"body":"independent companies"},{"speaker":"JESSE WEDLER","startTime":1290.137,"endTime":1292.35,"body":"that really take advantage"},{"speaker":"JESSE WEDLER","startTime":1290.137,"endTime":1292.35,"body":"of AI within insurance"},{"speaker":"JESSE WEDLER","startTime":1292.35,"endTime":1294.99,"body":"or will be the platform"},{"speaker":"JESSE WEDLER","startTime":1292.35,"endTime":1294.99,"body":"companies, the Applieds,"},{"speaker":"JESSE WEDLER","startTime":1294.99,"endTime":1297.09,"body":"the Duck Creeks, the Guidewires?"},{"speaker":"JESSE WEDLER","startTime":1297.09,"endTime":1299.662,"body":"They have the distribution."},{"speaker":"JESSE WEDLER","startTime":1299.662,"endTime":1301.62,"body":"And I think the biggest"},{"speaker":"JESSE WEDLER","startTime":1299.662,"endTime":1301.62,"body":"learning we've also had"},{"speaker":"JESSE WEDLER","startTime":1301.62,"endTime":1303.36,"body":"is, anyone trying"},{"speaker":"JESSE WEDLER","startTime":1301.62,"endTime":1303.36,"body":"to sell to carriers,"},{"speaker":"JESSE WEDLER","startTime":1303.36,"endTime":1307.98,"body":"man, it is really hard to"},{"speaker":"JESSE WEDLER","startTime":1303.36,"endTime":1307.98,"body":"stand up a small company"},{"speaker":"JESSE WEDLER","startTime":1307.98,"endTime":1311.19,"body":"and go sell to carriers and go"},{"speaker":"JESSE WEDLER","startTime":1307.98,"endTime":1311.19,"body":"through those implementations"},{"speaker":"JESSE WEDLER","startTime":1311.19,"endTime":1314.7,"body":"and be able to do it repeatedly."},{"speaker":"JESSE WEDLER","startTime":1314.7,"endTime":1317.73,"body":"It's a tough market to serve"},{"speaker":"JESSE WEDLER","startTime":1314.7,"endTime":1317.73,"body":"and really scale quickly into."},{"speaker":"JESSE WEDLER","startTime":1317.73,"endTime":1321.39,"body":"I think the other thing is"},{"speaker":"JESSE WEDLER","startTime":1317.73,"endTime":1321.39,"body":"there's a mismatch between how"},{"speaker":"JESSE WEDLER","startTime":1321.39,"endTime":1324.09,"body":"people like to fund build"},{"speaker":"JESSE WEDLER","startTime":1321.39,"endTime":1324.09,"body":"venture companies versus how"},{"speaker":"JESSE WEDLER","startTime":1324.09,"endTime":1325.68,"body":"the insurance market works."},{"speaker":"JESSE WEDLER","startTime":1325.68,"endTime":1329.46,"body":"The venture market is"},{"speaker":"JESSE WEDLER","startTime":1325.68,"endTime":1329.46,"body":"built around rapid scaling,"},{"speaker":"JESSE WEDLER","startTime":1329.46,"endTime":1331.53,"body":"rapid iteration, failing fast."},{"speaker":"JESSE WEDLER","startTime":1331.53,"endTime":1334.56,"body":"The insurance market, man,"},{"speaker":"JESSE WEDLER","startTime":1331.53,"endTime":1334.56,"body":"if you scale rapidly and try"},{"speaker":"JESSE WEDLER","startTime":1334.56,"endTime":1337.5,"body":"to iterate quickly, there's only"},{"speaker":"JESSE WEDLER","startTime":1334.56,"endTime":1337.5,"body":"a certain number of customers"},{"speaker":"JESSE WEDLER","startTime":1337.5,"endTime":1338.76,"body":"that ultimately matter."},{"speaker":"JESSE WEDLER","startTime":1338.76,"endTime":1341.97,"body":"If you get a bad reputation"},{"speaker":"JESSE WEDLER","startTime":1338.76,"endTime":1341.97,"body":"early on with those customers,"},{"speaker":"JESSE WEDLER","startTime":1341.97,"endTime":1342.827,"body":"good luck."},{"speaker":"JESSE WEDLER","startTime":1342.827,"endTime":1344.91,"body":"And so you think you have"},{"speaker":"JESSE WEDLER","startTime":1342.827,"endTime":1344.91,"body":"to be a lot more slower,"},{"speaker":"JESSE WEDLER","startTime":1344.91,"endTime":1347.64,"body":"methodical, go after"},{"speaker":"JESSE WEDLER","startTime":1344.91,"endTime":1347.64,"body":"very specific use case,"},{"speaker":"JESSE WEDLER","startTime":1347.64,"endTime":1350.08,"body":"and just be best in"},{"speaker":"JESSE WEDLER","startTime":1347.64,"endTime":1350.08,"body":"class for that use case."},{"speaker":"JESSE WEDLER","startTime":1350.08,"endTime":1353.55,"body":"And think a lot of people who"},{"speaker":"JESSE WEDLER","startTime":1350.08,"endTime":1353.55,"body":"are new to the space just try"},{"speaker":"JESSE WEDLER","startTime":1353.55,"endTime":1355.482,"body":"to move too quickly and"},{"speaker":"JESSE WEDLER","startTime":1353.55,"endTime":1355.482,"body":"don't appreciate that."},{"speaker":"REID HOLZWORTH","startTime":1355.482,"endTime":1356.94,"body":"Selling to carriers"},{"speaker":"REID HOLZWORTH","startTime":1356.94,"endTime":1360.06,"body":"is next to impossible,"},{"speaker":"REID HOLZWORTH","startTime":1356.94,"endTime":1360.06,"body":"man, starting out."},{"speaker":"REID HOLZWORTH","startTime":1360.06,"endTime":1362.82,"body":"You have to develop"},{"speaker":"REID HOLZWORTH","startTime":1360.06,"endTime":1362.82,"body":"a reputation."},{"speaker":"REID HOLZWORTH","startTime":1362.82,"endTime":1364.29,"body":"Here's the tip for everybody."},{"speaker":"REID HOLZWORTH","startTime":1364.29,"endTime":1365.91,"body":"Listen, you want to"},{"speaker":"REID HOLZWORTH","startTime":1364.29,"endTime":1365.91,"body":"sell to carriers,"},{"speaker":"REID HOLZWORTH","startTime":1365.91,"endTime":1367.83,"body":"you first need to"},{"speaker":"REID HOLZWORTH","startTime":1365.91,"endTime":1367.83,"body":"get the distribution"},{"speaker":"REID HOLZWORTH","startTime":1367.83,"endTime":1368.94,"body":"in your back pocket."},{"speaker":"REID HOLZWORTH","startTime":1368.94,"endTime":1373.42,"body":"You need to get their brokers"},{"speaker":"REID HOLZWORTH","startTime":1368.94,"endTime":1373.42,"body":"and agencies saying, hey,"},{"speaker":"REID HOLZWORTH","startTime":1373.42,"endTime":1374.94,"body":"I need this thing."},{"speaker":"REID HOLZWORTH","startTime":1374.94,"endTime":1377.28,"body":"Can you go help me"},{"speaker":"REID HOLZWORTH","startTime":1374.94,"endTime":1377.28,"body":"do this carrier?"},{"speaker":"REID HOLZWORTH","startTime":1377.28,"endTime":1379.888,"body":"They'll pick up the phone from"},{"speaker":"REID HOLZWORTH","startTime":1377.28,"endTime":1379.888,"body":"those big agents, especially"},{"speaker":"REID HOLZWORTH","startTime":1379.888,"endTime":1380.43,"body":"the big ones."},{"speaker":"REID HOLZWORTH","startTime":1380.43,"endTime":1381.847,"body":"I hate to say it,"},{"speaker":"REID HOLZWORTH","startTime":1380.43,"endTime":1381.847,"body":"but the big ones"},{"speaker":"REID HOLZWORTH","startTime":1381.847,"endTime":1385.44,"body":"are the ones that move them"},{"speaker":"REID HOLZWORTH","startTime":1381.847,"endTime":1385.44,"body":"or a ton of small ones."},{"speaker":"REID HOLZWORTH","startTime":1385.44,"endTime":1388.02,"body":"But if they start getting"},{"speaker":"REID HOLZWORTH","startTime":1385.44,"endTime":1388.02,"body":"noise from their distribution"},{"speaker":"REID HOLZWORTH","startTime":1388.02,"endTime":1393.79,"body":"that your thing helps them,"},{"speaker":"REID HOLZWORTH","startTime":1388.02,"endTime":1393.79,"body":"they'll be all about it."},{"speaker":"REID HOLZWORTH","startTime":1393.79,"endTime":1397.082,"body":"But other than that"},{"speaker":"REID HOLZWORTH","startTime":1393.79,"endTime":1397.082,"body":"like, dude, good luck."},{"speaker":"JESSE WEDLER","startTime":1397.082,"endTime":1398.79,"body":"The"},{"speaker":"JESSE WEDLER","startTime":1397.082,"endTime":1398.79,"body":"other approach though I"},{"speaker":"JESSE WEDLER","startTime":1398.79,"endTime":1402.67,"body":"think that has real value is,"},{"speaker":"JESSE WEDLER","startTime":1398.79,"endTime":1402.67,"body":"you'll find a very specific use"},{"speaker":"JESSE WEDLER","startTime":1402.67,"endTime":1403.17,"body":"case."},{"speaker":"JESSE WEDLER","startTime":1403.17,"endTime":1405.39,"body":"And you might not"},{"speaker":"JESSE WEDLER","startTime":1403.17,"endTime":1405.39,"body":"be venture scale,"},{"speaker":"JESSE WEDLER","startTime":1405.39,"endTime":1407.16,"body":"but you can still"},{"speaker":"JESSE WEDLER","startTime":1405.39,"endTime":1407.16,"body":"build a great business."},{"speaker":"JESSE WEDLER","startTime":1407.16,"endTime":1410.07,"body":"And you take the right"},{"speaker":"JESSE WEDLER","startTime":1407.16,"endTime":1410.07,"body":"amount of funding."},{"speaker":"JESSE WEDLER","startTime":1410.07,"endTime":1412.413,"body":"And there's this whole"},{"speaker":"JESSE WEDLER","startTime":1410.07,"endTime":1412.413,"body":"mindset around startups"},{"speaker":"JESSE WEDLER","startTime":1412.413,"endTime":1414.33,"body":"like, oh, you got to go"},{"speaker":"JESSE WEDLER","startTime":1412.413,"endTime":1414.33,"body":"raise a bunch of money"},{"speaker":"JESSE WEDLER","startTime":1414.33,"endTime":1416.22,"body":"and try to go for the stars."},{"speaker":"JESSE WEDLER","startTime":1416.22,"endTime":1417.953,"body":"But in reality, some"},{"speaker":"JESSE WEDLER","startTime":1416.22,"endTime":1417.953,"body":"businesses, they'll"},{"speaker":"JESSE WEDLER","startTime":1417.953,"endTime":1420.12,"body":"be better off if they raise"},{"speaker":"JESSE WEDLER","startTime":1417.953,"endTime":1420.12,"body":"a modest amount of money"},{"speaker":"JESSE WEDLER","startTime":1420.12,"endTime":1423.172,"body":"or no money and build"},{"speaker":"JESSE WEDLER","startTime":1420.12,"endTime":1423.172,"body":"into a very specific lane"},{"speaker":"JESSE WEDLER","startTime":1423.172,"endTime":1424.005,"body":"with a lot of value."},{"speaker":"JESSE WEDLER","startTime":1427.09,"endTime":1428.83,"body":"Their agent channel,"},{"speaker":"JESSE WEDLER","startTime":1427.09,"endTime":1428.83,"body":"find something"},{"speaker":"JESSE WEDLER","startTime":1428.83,"endTime":1430.83,"body":"that's going to make"},{"speaker":"JESSE WEDLER","startTime":1428.83,"endTime":1430.83,"body":"agents way more productive."},{"speaker":"JESSE WEDLER","startTime":1430.83,"endTime":1431.8,"body":"It can be a small tool."},{"speaker":"JESSE WEDLER","startTime":1431.8,"endTime":1435.16,"body":"And go figure out an efficient"},{"speaker":"JESSE WEDLER","startTime":1431.8,"endTime":1435.16,"body":"way to sell to agents"},{"speaker":"JESSE WEDLER","startTime":1435.16,"endTime":1440.12,"body":"and build a good"},{"speaker":"JESSE WEDLER","startTime":1435.16,"endTime":1440.12,"body":"business out of that."},{"speaker":"REID HOLZWORTH","startTime":1440.12,"endTime":1442.02,"body":"They need time."},{"speaker":"JESSE WEDLER","startTime":1442.02,"endTime":1443.75,"body":"They need time."},{"speaker":"REID HOLZWORTH","startTime":1443.75,"endTime":1446.3,"body":"I'll"},{"speaker":"REID HOLZWORTH","startTime":1443.75,"endTime":1446.3,"body":"say this, Michael Howe"},{"speaker":"REID HOLZWORTH","startTime":1446.3,"endTime":1448.56,"body":"said this to me one time."},{"speaker":"REID HOLZWORTH","startTime":1448.56,"endTime":1450.89,"body":"When I first came over"},{"speaker":"REID HOLZWORTH","startTime":1448.56,"endTime":1450.89,"body":"to IVANS, he said--"},{"speaker":"REID HOLZWORTH","startTime":1450.89,"endTime":1454.288,"body":"Michael Howe is now the"},{"speaker":"REID HOLZWORTH","startTime":1450.89,"endTime":1454.288,"body":"leads product at Guidewire."},{"speaker":"REID HOLZWORTH","startTime":1454.288,"endTime":1455.33,"body":"He used to be at Applied."},{"speaker":"REID HOLZWORTH","startTime":1455.33,"endTime":1457.61,"body":"And he says to"},{"speaker":"REID HOLZWORTH","startTime":1455.33,"endTime":1457.61,"body":"me, he goes, Reid,"},{"speaker":"REID HOLZWORTH","startTime":1457.61,"endTime":1459.95,"body":"selling the carrier is not"},{"speaker":"REID HOLZWORTH","startTime":1457.61,"endTime":1459.95,"body":"like selling a broker's."},{"speaker":"REID HOLZWORTH","startTime":1459.95,"endTime":1463.28,"body":"It takes a really long time."},{"speaker":"REID HOLZWORTH","startTime":1463.28,"endTime":1465.77,"body":"And he said so don't get"},{"speaker":"REID HOLZWORTH","startTime":1463.28,"endTime":1465.77,"body":"over your skis on that."},{"speaker":"REID HOLZWORTH","startTime":1465.77,"endTime":1470.87,"body":"And he was 100% correct, even"},{"speaker":"REID HOLZWORTH","startTime":1465.77,"endTime":1470.87,"body":"with the relationships we have."},{"speaker":"REID HOLZWORTH","startTime":1470.87,"endTime":1472.37,"body":"Even with the"},{"speaker":"REID HOLZWORTH","startTime":1470.87,"endTime":1472.37,"body":"relationships we have"},{"speaker":"REID HOLZWORTH","startTime":1472.37,"endTime":1475.41,"body":"where I can call these people"},{"speaker":"REID HOLZWORTH","startTime":1472.37,"endTime":1475.41,"body":"on their cell phone and be like,"},{"speaker":"REID HOLZWORTH","startTime":1475.41,"endTime":1478.728,"body":"oh, what's up dude, it takes"},{"speaker":"REID HOLZWORTH","startTime":1475.41,"endTime":1478.728,"body":"so long to get deals done."},{"speaker":"JESSE WEDLER","startTime":1478.728,"endTime":1480.02,"body":"It takes so long."},{"speaker":"JESSE WEDLER","startTime":1480.02,"endTime":1481.562,"body":"It's also really"},{"speaker":"JESSE WEDLER","startTime":1480.02,"endTime":1481.562,"body":"concentrated market."},{"speaker":"JESSE WEDLER","startTime":1481.562,"endTime":1484.32,"body":"The top 20 carriers"},{"speaker":"JESSE WEDLER","startTime":1481.562,"endTime":1484.32,"body":"within P\u0026C are 80%,"},{"speaker":"JESSE WEDLER","startTime":1484.32,"endTime":1488.76,"body":"85% of the ultimate"},{"speaker":"JESSE WEDLER","startTime":1484.32,"endTime":1488.76,"body":"tech spend budget."},{"speaker":"JESSE WEDLER","startTime":1488.76,"endTime":1490.97,"body":"And so if you're patient,"},{"speaker":"JESSE WEDLER","startTime":1488.76,"endTime":1490.97,"body":"like you're saying,"},{"speaker":"JESSE WEDLER","startTime":1490.97,"endTime":1493.7,"body":"you can get huge contracts"},{"speaker":"JESSE WEDLER","startTime":1490.97,"endTime":1493.7,"body":"with those top 20."},{"speaker":"JESSE WEDLER","startTime":1493.7,"endTime":1495.75,"body":"But it's not going"},{"speaker":"JESSE WEDLER","startTime":1493.7,"endTime":1495.75,"body":"to be overnight."},{"speaker":"JESSE WEDLER","startTime":1495.75,"endTime":1497.06,"body":"It's not going to be in a year."},{"speaker":"JESSE WEDLER","startTime":1497.06,"endTime":1499.95,"body":"It's going to be a multi-year"},{"speaker":"JESSE WEDLER","startTime":1497.06,"endTime":1499.95,"body":"slog in a lot of cases."},{"speaker":"JESSE WEDLER","startTime":1499.95,"endTime":1501.735,"body":"But I think there's"},{"speaker":"JESSE WEDLER","startTime":1499.95,"endTime":1501.735,"body":"still big companies"},{"speaker":"JESSE WEDLER","startTime":1501.735,"endTime":1503.61,"body":"we built there but just"},{"speaker":"JESSE WEDLER","startTime":1501.735,"endTime":1503.61,"body":"finding the right mix"},{"speaker":"JESSE WEDLER","startTime":1503.61,"endTime":1505.86,"body":"of the right product"},{"speaker":"JESSE WEDLER","startTime":1503.61,"endTime":1505.86,"body":"and the right patients"},{"speaker":"JESSE WEDLER","startTime":1505.86,"endTime":1509.64,"body":"and the right efficiency."},{"speaker":"REID HOLZWORTH","startTime":1509.64,"endTime":1511.89,"body":"That's"},{"speaker":"REID HOLZWORTH","startTime":1509.64,"endTime":1511.89,"body":"really good insight, man."},{"speaker":"REID HOLZWORTH","startTime":1511.89,"endTime":1513.225,"body":"So let me ask you this."},{"speaker":"REID HOLZWORTH","startTime":1515.73,"endTime":1518.58,"body":"What do you feel your"},{"speaker":"REID HOLZWORTH","startTime":1515.73,"endTime":1518.58,"body":"role is in insurance,"},{"speaker":"REID HOLZWORTH","startTime":1518.58,"endTime":1519.81,"body":"insurance technology?"},{"speaker":"JESSE WEDLER","startTime":1519.81,"endTime":1520.92,"body":"Yeah."},{"speaker":"JESSE WEDLER","startTime":1520.92,"endTime":1525.68,"body":"I think, as investors, we are"},{"speaker":"JESSE WEDLER","startTime":1520.92,"endTime":1525.68,"body":"long-term patient capital."},{"speaker":"JESSE WEDLER","startTime":1525.68,"endTime":1527.43,"body":"We don't have a specific"},{"speaker":"JESSE WEDLER","startTime":1525.68,"endTime":1527.43,"body":"fund life or when"},{"speaker":"JESSE WEDLER","startTime":1527.43,"endTime":1528.87,"body":"we have to return the fund."},{"speaker":"JESSE WEDLER","startTime":1528.87,"endTime":1530.37,"body":"We've been Applied"},{"speaker":"JESSE WEDLER","startTime":1528.87,"endTime":1530.37,"body":"for five years."},{"speaker":"JESSE WEDLER","startTime":1530.37,"endTime":1532.29,"body":"I hope we're in for"},{"speaker":"JESSE WEDLER","startTime":1530.37,"endTime":1532.29,"body":"another five at least"},{"speaker":"JESSE WEDLER","startTime":1532.29,"endTime":1535.77,"body":"based on how they're doing."},{"speaker":"JESSE WEDLER","startTime":1535.77,"endTime":1538.47,"body":"I'm here to provide"},{"speaker":"JESSE WEDLER","startTime":1535.77,"endTime":1538.47,"body":"capital, and my role"},{"speaker":"JESSE WEDLER","startTime":1538.47,"endTime":1540.72,"body":"is to find the right"},{"speaker":"JESSE WEDLER","startTime":1538.47,"endTime":1540.72,"body":"investors that we"},{"speaker":"JESSE WEDLER","startTime":1540.72,"endTime":1543.57,"body":"want to invest in, give them"},{"speaker":"JESSE WEDLER","startTime":1540.72,"endTime":1543.57,"body":"the right resources beyond just"},{"speaker":"JESSE WEDLER","startTime":1543.57,"endTime":1547.35,"body":"capital and also be a patient,"},{"speaker":"JESSE WEDLER","startTime":1543.57,"endTime":1547.35,"body":"helpful voice around the table,"},{"speaker":"JESSE WEDLER","startTime":1547.35,"endTime":1549.87,"body":"help them find the right"},{"speaker":"JESSE WEDLER","startTime":1547.35,"endTime":1549.87,"body":"people to add to their team."},{"speaker":"JESSE WEDLER","startTime":1549.87,"endTime":1552.39,"body":"Help answer tough"},{"speaker":"JESSE WEDLER","startTime":1549.87,"endTime":1552.39,"body":"strategy questions"},{"speaker":"JESSE WEDLER","startTime":1552.39,"endTime":1554.64,"body":"when we're making a decision"},{"speaker":"JESSE WEDLER","startTime":1552.39,"endTime":1554.64,"body":"about the right direction"},{"speaker":"JESSE WEDLER","startTime":1554.64,"endTime":1556.89,"body":"to go in and remind"},{"speaker":"JESSE WEDLER","startTime":1554.64,"endTime":1556.89,"body":"them that it's"},{"speaker":"JESSE WEDLER","startTime":1556.89,"endTime":1561.21,"body":"OK to find the right pace"},{"speaker":"JESSE WEDLER","startTime":1556.89,"endTime":1561.21,"body":"of growth for each business"},{"speaker":"JESSE WEDLER","startTime":1561.21,"endTime":1563.52,"body":"because each business is"},{"speaker":"JESSE WEDLER","startTime":1561.21,"endTime":1563.52,"body":"unique, and that there's"},{"speaker":"JESSE WEDLER","startTime":1563.52,"endTime":1567.443,"body":"a big prize at the end for"},{"speaker":"JESSE WEDLER","startTime":1563.52,"endTime":1567.443,"body":"the ones that get it right."},{"speaker":"REID HOLZWORTH","startTime":1567.443,"endTime":1568.86,"body":"That's great, man."},{"speaker":"REID HOLZWORTH","startTime":1568.86,"endTime":1571.6,"body":"That's great"},{"speaker":"REID HOLZWORTH","startTime":1568.86,"endTime":1571.6,"body":"advice, really good."},{"speaker":"REID HOLZWORTH","startTime":1571.6,"endTime":1574.14,"body":"So if you could fix one problem"},{"speaker":"REID HOLZWORTH","startTime":1571.6,"endTime":1574.14,"body":"or issue in the insurance"},{"speaker":"REID HOLZWORTH","startTime":1574.14,"endTime":1576.33,"body":"industry today, what"},{"speaker":"REID HOLZWORTH","startTime":1574.14,"endTime":1576.33,"body":"would it be and why?"},{"speaker":"JESSE WEDLER","startTime":1576.33,"endTime":1584.29,"body":"Oh man,"},{"speaker":"JESSE WEDLER","startTime":1576.33,"endTime":1584.29,"body":"I think the problem"},{"speaker":"JESSE WEDLER","startTime":1584.29,"endTime":1586.09,"body":"that I want to fix is"},{"speaker":"JESSE WEDLER","startTime":1584.29,"endTime":1586.09,"body":"probably what we're"},{"speaker":"JESSE WEDLER","startTime":1586.09,"endTime":1589.96,"body":"aiming for with the investments"},{"speaker":"JESSE WEDLER","startTime":1586.09,"endTime":1589.96,"body":"that we make, which is,"},{"speaker":"JESSE WEDLER","startTime":1589.96,"endTime":1595.21,"body":"enable this industry to be much"},{"speaker":"JESSE WEDLER","startTime":1589.96,"endTime":1595.21,"body":"more modern cloud-architected,"},{"speaker":"JESSE WEDLER","startTime":1595.21,"endTime":1598.21,"body":"the ability to move faster"},{"speaker":"JESSE WEDLER","startTime":1595.21,"endTime":1598.21,"body":"because I think there's"},{"speaker":"JESSE WEDLER","startTime":1598.21,"endTime":1600.85,"body":"a lot more efficiency you"},{"speaker":"JESSE WEDLER","startTime":1598.21,"endTime":1600.85,"body":"could get from this industry"},{"speaker":"JESSE WEDLER","startTime":1600.85,"endTime":1601.965,"body":"when we get to that phase."},{"speaker":"JESSE WEDLER","startTime":1601.965,"endTime":1602.59,"body":"It's not an if."},{"speaker":"JESSE WEDLER","startTime":1602.59,"endTime":1603.52,"body":"It's a when."},{"speaker":"JESSE WEDLER","startTime":1603.52,"endTime":1605.8,"body":"I think there'll be a lot"},{"speaker":"JESSE WEDLER","startTime":1603.52,"endTime":1605.8,"body":"more innovation, efficiency."},{"speaker":"JESSE WEDLER","startTime":1605.8,"endTime":1607.758,"body":"It'll make the whole"},{"speaker":"JESSE WEDLER","startTime":1605.8,"endTime":1607.758,"body":"industry more competitive."},{"speaker":"JESSE WEDLER","startTime":1607.758,"endTime":1611.38,"body":"But it'll be incredible"},{"speaker":"JESSE WEDLER","startTime":1607.758,"endTime":1611.38,"body":"in terms of just what it"},{"speaker":"JESSE WEDLER","startTime":1611.38,"endTime":1614.35,"body":"does for the existing"},{"speaker":"JESSE WEDLER","startTime":1611.38,"endTime":1614.35,"body":"businesses and both"},{"speaker":"JESSE WEDLER","startTime":1614.35,"endTime":1619.12,"body":"how end customers and insurers"},{"speaker":"JESSE WEDLER","startTime":1614.35,"endTime":1619.12,"body":"are served with new products"},{"speaker":"JESSE WEDLER","startTime":1619.12,"endTime":1619.93,"body":"and pricing."},{"speaker":"JESSE WEDLER","startTime":1619.93,"endTime":1622.63,"body":"But I think that is"},{"speaker":"JESSE WEDLER","startTime":1619.93,"endTime":1622.63,"body":"the promised land."},{"speaker":"JESSE WEDLER","startTime":1622.63,"endTime":1626.07,"body":"Like I said, it's a"},{"speaker":"JESSE WEDLER","startTime":1622.63,"endTime":1626.07,"body":"question of when, not if."},{"speaker":"JESSE WEDLER","startTime":1626.07,"endTime":1631.27,"body":"I don't have a super"},{"speaker":"JESSE WEDLER","startTime":1626.07,"endTime":1631.27,"body":"catchy phrase, the one"},{"speaker":"JESSE WEDLER","startTime":1631.27,"endTime":1633.28,"body":"liner of what that is exactly."},{"speaker":"JESSE WEDLER","startTime":1633.28,"endTime":1636.433,"body":"But I think that's what excites"},{"speaker":"JESSE WEDLER","startTime":1633.28,"endTime":1636.433,"body":"me about investing in it."},{"speaker":"JESSE WEDLER","startTime":1636.433,"endTime":1638.35,"body":"And I think that's"},{"speaker":"JESSE WEDLER","startTime":1636.433,"endTime":1638.35,"body":"obviously what we're going."},{"speaker":"JESSE WEDLER","startTime":1638.35,"endTime":1639.725,"body":"It's just a question"},{"speaker":"JESSE WEDLER","startTime":1638.35,"endTime":1639.725,"body":"of how do we"},{"speaker":"JESSE WEDLER","startTime":1639.725,"endTime":1640.95,"body":"enable that to happen faster."},{"speaker":"JESSE WEDLER","startTime":1640.95,"endTime":1642.92,"body":"But the potential"},{"speaker":"JESSE WEDLER","startTime":1640.95,"endTime":1642.92,"body":"when we're there"},{"speaker":"JESSE WEDLER","startTime":1642.92,"endTime":1644.015,"body":"is going to be incredible."},{"speaker":"REID HOLZWORTH","startTime":1644.015,"endTime":1645.89,"body":"Yeah,"},{"speaker":"REID HOLZWORTH","startTime":1644.015,"endTime":1645.89,"body":"it was interesting what"},{"speaker":"REID HOLZWORTH","startTime":1645.89,"endTime":1649.07,"body":"you were saying"},{"speaker":"REID HOLZWORTH","startTime":1645.89,"endTime":1649.07,"body":"before about the spend"},{"speaker":"REID HOLZWORTH","startTime":1649.07,"endTime":1651.95,"body":"is the largest in"},{"speaker":"REID HOLZWORTH","startTime":1649.07,"endTime":1651.95,"body":"financial services"},{"speaker":"REID HOLZWORTH","startTime":1651.95,"endTime":1658.07,"body":"and that they're also way behind"},{"speaker":"REID HOLZWORTH","startTime":1651.95,"endTime":1658.07,"body":"as far as modernization is"},{"speaker":"REID HOLZWORTH","startTime":1658.07,"endTime":1662.42,"body":"concerned, which creates"},{"speaker":"REID HOLZWORTH","startTime":1658.07,"endTime":1662.42,"body":"a really great opportunity"},{"speaker":"REID HOLZWORTH","startTime":1662.42,"endTime":1667.4,"body":"and to your point here,"},{"speaker":"REID HOLZWORTH","startTime":1662.42,"endTime":1667.4,"body":"helping that move forward."},{"speaker":"REID HOLZWORTH","startTime":1667.4,"endTime":1668.73,"body":"It's awesome."},{"speaker":"JESSE WEDLER","startTime":1668.73,"endTime":1671.1,"body":"I think it's"},{"speaker":"JESSE WEDLER","startTime":1668.73,"endTime":1671.1,"body":"better for the industry."},{"speaker":"JESSE WEDLER","startTime":1671.1,"endTime":1673.37,"body":"It's good for the technology"},{"speaker":"JESSE WEDLER","startTime":1671.1,"endTime":1673.37,"body":"providers that enable it,"},{"speaker":"JESSE WEDLER","startTime":1673.37,"endTime":1675.87,"body":"and it's better for the"},{"speaker":"JESSE WEDLER","startTime":1673.37,"endTime":1675.87,"body":"customers at the end day."},{"speaker":"JESSE WEDLER","startTime":1675.87,"endTime":1677.72,"body":"And so when you have"},{"speaker":"JESSE WEDLER","startTime":1675.87,"endTime":1677.72,"body":"a situation like that"},{"speaker":"JESSE WEDLER","startTime":1677.72,"endTime":1681.56,"body":"where everyone wins from it,"},{"speaker":"JESSE WEDLER","startTime":1677.72,"endTime":1681.56,"body":"that's what gets us motivated."},{"speaker":"JESSE WEDLER","startTime":1681.56,"endTime":1683.06,"body":"But it's tough."},{"speaker":"JESSE WEDLER","startTime":1683.06,"endTime":1684.92,"body":"Where we are today,"},{"speaker":"JESSE WEDLER","startTime":1683.06,"endTime":1684.92,"body":"there's so much"},{"speaker":"JESSE WEDLER","startTime":1684.92,"endTime":1686.87,"body":"legacy code that"},{"speaker":"JESSE WEDLER","startTime":1684.92,"endTime":1686.87,"body":"needs to be migrated"},{"speaker":"JESSE WEDLER","startTime":1686.87,"endTime":1689.04,"body":"and legacy systems that"},{"speaker":"JESSE WEDLER","startTime":1686.87,"endTime":1689.04,"body":"need to be maintained."},{"speaker":"JESSE WEDLER","startTime":1689.04,"endTime":1691.52,"body":"The amount of teams"},{"speaker":"JESSE WEDLER","startTime":1689.04,"endTime":1691.52,"body":"or the percentage"},{"speaker":"JESSE WEDLER","startTime":1691.52,"endTime":1694.46,"body":"of teams that focus on"},{"speaker":"JESSE WEDLER","startTime":1691.52,"endTime":1694.46,"body":"maintaining and migrating,"},{"speaker":"JESSE WEDLER","startTime":1694.46,"endTime":1697.35,"body":"it's a huge headwind for"},{"speaker":"JESSE WEDLER","startTime":1694.46,"endTime":1697.35,"body":"the industry right now."},{"speaker":"JESSE WEDLER","startTime":1697.35,"endTime":1699.86,"body":"And so that will"},{"speaker":"JESSE WEDLER","startTime":1697.35,"endTime":1699.86,"body":"be 5 to 10 years."},{"speaker":"JESSE WEDLER","startTime":1699.86,"endTime":1701.3,"body":"And then there'll"},{"speaker":"JESSE WEDLER","startTime":1699.86,"endTime":1701.3,"body":"be new platform."},{"speaker":"JESSE WEDLER","startTime":1701.3,"endTime":1704.805,"body":"And instead of cloud, it"},{"speaker":"JESSE WEDLER","startTime":1701.3,"endTime":1704.805,"body":"will be a new architecture"},{"speaker":"JESSE WEDLER","startTime":1704.805,"endTime":1705.93,"body":"that we're working towards."},{"speaker":"JESSE WEDLER","startTime":1705.93,"endTime":1710.9,"body":"But I think getting to"},{"speaker":"JESSE WEDLER","startTime":1705.93,"endTime":1710.9,"body":"modern nimble architecture"},{"speaker":"JESSE WEDLER","startTime":1710.9,"endTime":1715.8,"body":"for majority of these businesses"},{"speaker":"JESSE WEDLER","startTime":1710.9,"endTime":1715.8,"body":"will enable huge change."},{"speaker":"REID HOLZWORTH","startTime":1715.8,"endTime":1717.45,"body":"I've"},{"speaker":"REID HOLZWORTH","startTime":1715.8,"endTime":1717.45,"body":"said this before,"},{"speaker":"REID HOLZWORTH","startTime":1717.45,"endTime":1721.01,"body":"but people don't realize,"},{"speaker":"REID HOLZWORTH","startTime":1717.45,"endTime":1721.01,"body":"especially with the incumbents,"},{"speaker":"REID HOLZWORTH","startTime":1721.01,"endTime":1725.18,"body":"how that legacy"},{"speaker":"REID HOLZWORTH","startTime":1721.01,"endTime":1725.18,"body":"code and the legacy"},{"speaker":"REID HOLZWORTH","startTime":1725.18,"endTime":1729.92,"body":"platforms that are there, how"},{"speaker":"REID HOLZWORTH","startTime":1725.18,"endTime":1729.92,"body":"hard it is to modernize that"},{"speaker":"REID HOLZWORTH","startTime":1729.92,"endTime":1731.6,"body":"and how long it takes."},{"speaker":"REID HOLZWORTH","startTime":1731.6,"endTime":1734.72,"body":"Everybody, even I used"},{"speaker":"REID HOLZWORTH","startTime":1731.6,"endTime":1734.72,"body":"to think this way,"},{"speaker":"REID HOLZWORTH","startTime":1734.72,"endTime":1736.44,"body":"I was ignorant in"},{"speaker":"REID HOLZWORTH","startTime":1734.72,"endTime":1736.44,"body":"thinking this way,"},{"speaker":"REID HOLZWORTH","startTime":1736.44,"endTime":1739.34,"body":"but I used to think like,"},{"speaker":"REID HOLZWORTH","startTime":1736.44,"endTime":1739.34,"body":"these guys just don't innovate."},{"speaker":"REID HOLZWORTH","startTime":1739.34,"endTime":1741.11,"body":"They're not doing"},{"speaker":"REID HOLZWORTH","startTime":1739.34,"endTime":1741.11,"body":"blah, blah, blah."},{"speaker":"REID HOLZWORTH","startTime":1741.11,"endTime":1742.07,"body":"And they're never good."},{"speaker":"REID HOLZWORTH","startTime":1742.07,"endTime":1745.55,"body":"They're just raising rates"},{"speaker":"REID HOLZWORTH","startTime":1742.07,"endTime":1745.55,"body":"and squeezing everybody."},{"speaker":"REID HOLZWORTH","startTime":1745.55,"endTime":1748.59,"body":"And in some cases,"},{"speaker":"REID HOLZWORTH","startTime":1745.55,"endTime":1748.59,"body":"that's kind of true."},{"speaker":"REID HOLZWORTH","startTime":1748.59,"endTime":1752.97,"body":"But the reality is, it is"},{"speaker":"REID HOLZWORTH","startTime":1748.59,"endTime":1752.97,"body":"really, really hard and really,"},{"speaker":"REID HOLZWORTH","startTime":1752.97,"endTime":1757.52,"body":"really expensive to"},{"speaker":"REID HOLZWORTH","startTime":1752.97,"endTime":1757.52,"body":"modernize, especially"},{"speaker":"REID HOLZWORTH","startTime":1757.52,"endTime":1761.46,"body":"on these insurance based"},{"speaker":"REID HOLZWORTH","startTime":1757.52,"endTime":1761.46,"body":"solutions that are so complex."},{"speaker":"REID HOLZWORTH","startTime":1761.46,"endTime":1763.58,"body":"It's not like a simple doodad."},{"speaker":"REID HOLZWORTH","startTime":1763.58,"endTime":1767.93,"body":"That's probably why"},{"speaker":"REID HOLZWORTH","startTime":1763.58,"endTime":1767.93,"body":"financial services in general"},{"speaker":"REID HOLZWORTH","startTime":1767.93,"endTime":1771.513,"body":"is so behind is because of that."},{"speaker":"JESSE WEDLER","startTime":1771.513,"endTime":1772.43,"body":"Totally."},{"speaker":"JESSE WEDLER","startTime":1772.43,"endTime":1774.72,"body":"But can you carry, the lift"},{"speaker":"JESSE WEDLER","startTime":1772.43,"endTime":1774.72,"body":"and shift it to the cloud,"},{"speaker":"JESSE WEDLER","startTime":1774.72,"endTime":1777.62,"body":"it's not some simple transition."},{"speaker":"JESSE WEDLER","startTime":1777.62,"endTime":1779.96,"body":"I was talking to one large"},{"speaker":"JESSE WEDLER","startTime":1777.62,"endTime":1779.96,"body":"company in this space."},{"speaker":"JESSE WEDLER","startTime":1779.96,"endTime":1780.8,"body":"I won't say who."},{"speaker":"JESSE WEDLER","startTime":1780.8,"endTime":1784.01,"body":"500 engineers in their"},{"speaker":"JESSE WEDLER","startTime":1780.8,"endTime":1784.01,"body":"team, 2/3 of their team"},{"speaker":"JESSE WEDLER","startTime":1784.01,"endTime":1787.79,"body":"is just focused on maintaining"},{"speaker":"JESSE WEDLER","startTime":1784.01,"endTime":1787.79,"body":"the existing legacy systems."},{"speaker":"JESSE WEDLER","startTime":1787.79,"endTime":1788.93,"body":"Can you think about that?"},{"speaker":"JESSE WEDLER","startTime":1788.93,"endTime":1793.52,"body":"The tax on just your P\u0026L first"},{"speaker":"JESSE WEDLER","startTime":1788.93,"endTime":1793.52,"body":"of all but also on the ability"},{"speaker":"JESSE WEDLER","startTime":1793.52,"endTime":1797.03,"body":"to go invest in"},{"speaker":"JESSE WEDLER","startTime":1793.52,"endTime":1797.03,"body":"innovation and experiment."},{"speaker":"JESSE WEDLER","startTime":1797.03,"endTime":1799.7,"body":"You're just always sliding."},{"speaker":"REID HOLZWORTH","startTime":1802.4,"endTime":1803.99,"body":"That's wild, man."},{"speaker":"REID HOLZWORTH","startTime":1803.99,"endTime":1806.87,"body":"So what tech do you"},{"speaker":"REID HOLZWORTH","startTime":1803.99,"endTime":1806.87,"body":"see having the greatest"},{"speaker":"REID HOLZWORTH","startTime":1806.87,"endTime":1810.53,"body":"impact in insurance in"},{"speaker":"REID HOLZWORTH","startTime":1806.87,"endTime":1810.53,"body":"the next year or two?"},{"speaker":"REID HOLZWORTH","startTime":1810.53,"endTime":1812.48,"body":"You look at a lot"},{"speaker":"REID HOLZWORTH","startTime":1810.53,"endTime":1812.48,"body":"of stuff, Jesse."},{"speaker":"REID HOLZWORTH","startTime":1812.48,"endTime":1816.5,"body":"And you're involved"},{"speaker":"REID HOLZWORTH","startTime":1812.48,"endTime":1816.5,"body":"in lots of things."},{"speaker":"JESSE WEDLER","startTime":1816.5,"endTime":1818.06,"body":"I"},{"speaker":"JESSE WEDLER","startTime":1816.5,"endTime":1818.06,"body":"think that there's so"},{"speaker":"JESSE WEDLER","startTime":1818.06,"endTime":1819.81,"body":"many point solutions"},{"speaker":"JESSE WEDLER","startTime":1818.06,"endTime":1819.81,"body":"that are interesting,"},{"speaker":"JESSE WEDLER","startTime":1819.81,"endTime":1823.45,"body":"but I think the biggest question"},{"speaker":"JESSE WEDLER","startTime":1819.81,"endTime":1823.45,"body":"is the broader question."},{"speaker":"JESSE WEDLER","startTime":1823.45,"endTime":1825.33,"body":"And I think the reason"},{"speaker":"JESSE WEDLER","startTime":1823.45,"endTime":1825.33,"body":"why this is relevant,"},{"speaker":"JESSE WEDLER","startTime":1825.33,"endTime":1827.08,"body":"granted it's totally"},{"speaker":"JESSE WEDLER","startTime":1825.33,"endTime":1827.08,"body":"over-hyped right now,"},{"speaker":"JESSE WEDLER","startTime":1827.08,"endTime":1828.647,"body":"we're in peak hype cycle."},{"speaker":"JESSE WEDLER","startTime":1828.647,"endTime":1830.98,"body":"But I think the reason why"},{"speaker":"JESSE WEDLER","startTime":1828.647,"endTime":1830.98,"body":"it's interesting and relevant"},{"speaker":"JESSE WEDLER","startTime":1830.98,"endTime":1833.08,"body":"for insurance is,"},{"speaker":"JESSE WEDLER","startTime":1830.98,"endTime":1833.08,"body":"first of all, in terms"},{"speaker":"JESSE WEDLER","startTime":1833.08,"endTime":1834.79,"body":"of the legacy code"},{"speaker":"JESSE WEDLER","startTime":1833.08,"endTime":1834.79,"body":"migration and just"},{"speaker":"JESSE WEDLER","startTime":1834.79,"endTime":1836.705,"body":"maintaining legacy systems."},{"speaker":"JESSE WEDLER","startTime":1836.705,"endTime":1838.33,"body":"There's a lot of"},{"speaker":"JESSE WEDLER","startTime":1836.705,"endTime":1838.33,"body":"engineering efficiency"},{"speaker":"JESSE WEDLER","startTime":1838.33,"endTime":1842.53,"body":"that comes from AI assisting"},{"speaker":"JESSE WEDLER","startTime":1838.33,"endTime":1842.53,"body":"the engineering teams."},{"speaker":"JESSE WEDLER","startTime":1842.53,"endTime":1844.87,"body":"We talk to teams, mostly"},{"speaker":"JESSE WEDLER","startTime":1842.53,"endTime":1844.87,"body":"outside of insurance,"},{"speaker":"JESSE WEDLER","startTime":1844.87,"endTime":1846.28,"body":"I haven't seen"},{"speaker":"JESSE WEDLER","startTime":1844.87,"endTime":1846.28,"body":"this in insurance."},{"speaker":"JESSE WEDLER","startTime":1846.28,"endTime":1848.65,"body":"But teams outside"},{"speaker":"JESSE WEDLER","startTime":1846.28,"endTime":1848.65,"body":"of insurance where"},{"speaker":"JESSE WEDLER","startTime":1848.65,"endTime":1851.38,"body":"tasks that used to take an"},{"speaker":"JESSE WEDLER","startTime":1848.65,"endTime":1851.38,"body":"engineer two weeks to do,"},{"speaker":"JESSE WEDLER","startTime":1851.38,"endTime":1852.94,"body":"they can now do"},{"speaker":"JESSE WEDLER","startTime":1851.38,"endTime":1852.94,"body":"it in three hours"},{"speaker":"JESSE WEDLER","startTime":1852.94,"endTime":1856.57,"body":"using some sort of copilot"},{"speaker":"JESSE WEDLER","startTime":1852.94,"endTime":1856.57,"body":"or assistance from AI."},{"speaker":"JESSE WEDLER","startTime":1856.57,"endTime":1860.86,"body":"And so that could have a"},{"speaker":"JESSE WEDLER","startTime":1856.57,"endTime":1860.86,"body":"huge impact in the backend."},{"speaker":"JESSE WEDLER","startTime":1860.86,"endTime":1863.055,"body":"Customers and the insurers"},{"speaker":"JESSE WEDLER","startTime":1860.86,"endTime":1863.055,"body":"won't really see it,"},{"speaker":"JESSE WEDLER","startTime":1863.055,"endTime":1865.18,"body":"but then you start thinking"},{"speaker":"JESSE WEDLER","startTime":1863.055,"endTime":1865.18,"body":"about the front end use"},{"speaker":"JESSE WEDLER","startTime":1865.18,"endTime":1867.52,"body":"cases and the way"},{"speaker":"JESSE WEDLER","startTime":1865.18,"endTime":1867.52,"body":"people interact"},{"speaker":"JESSE WEDLER","startTime":1867.52,"endTime":1869.05,"body":"with their policy,"},{"speaker":"JESSE WEDLER","startTime":1867.52,"endTime":1869.05,"body":"the way people"},{"speaker":"JESSE WEDLER","startTime":1869.05,"endTime":1871.33,"body":"interact with their"},{"speaker":"JESSE WEDLER","startTime":1869.05,"endTime":1871.33,"body":"carrier, with their broker,"},{"speaker":"JESSE WEDLER","startTime":1871.33,"endTime":1875.315,"body":"there's a lot of just new"},{"speaker":"JESSE WEDLER","startTime":1871.33,"endTime":1875.315,"body":"opportunities for customer"},{"speaker":"JESSE WEDLER","startTime":1875.315,"endTime":1876.94,"body":"engagement that we"},{"speaker":"JESSE WEDLER","startTime":1875.315,"endTime":1876.94,"body":"haven't even started"},{"speaker":"JESSE WEDLER","startTime":1876.94,"endTime":1878.17,"body":"to scratch the surface on."},{"speaker":"JESSE WEDLER","startTime":1878.17,"endTime":1879.978,"body":"You can start thinking"},{"speaker":"JESSE WEDLER","startTime":1878.17,"endTime":1879.978,"body":"about underwriting."},{"speaker":"JESSE WEDLER","startTime":1879.978,"endTime":1882.52,"body":"You start think about claims,"},{"speaker":"JESSE WEDLER","startTime":1879.978,"endTime":1882.52,"body":"talking to a couple early stage"},{"speaker":"JESSE WEDLER","startTime":1882.52,"endTime":1884.59,"body":"companies where it's"},{"speaker":"JESSE WEDLER","startTime":1882.52,"endTime":1884.59,"body":"still very early,"},{"speaker":"JESSE WEDLER","startTime":1884.59,"endTime":1886.96,"body":"seed stage, where they're"},{"speaker":"JESSE WEDLER","startTime":1884.59,"endTime":1886.96,"body":"building an underwriting"},{"speaker":"JESSE WEDLER","startTime":1886.96,"endTime":1887.68,"body":"assistant."},{"speaker":"JESSE WEDLER","startTime":1887.68,"endTime":1890.08,"body":"And so, hey, let me"},{"speaker":"JESSE WEDLER","startTime":1887.68,"endTime":1890.08,"body":"take this corpus of data"},{"speaker":"JESSE WEDLER","startTime":1890.08,"endTime":1892.33,"body":"that you just got for"},{"speaker":"JESSE WEDLER","startTime":1890.08,"endTime":1892.33,"body":"some commercial policy."},{"speaker":"JESSE WEDLER","startTime":1892.33,"endTime":1895.57,"body":"I'll synthesize it through"},{"speaker":"JESSE WEDLER","startTime":1892.33,"endTime":1895.57,"body":"a large language model."},{"speaker":"JESSE WEDLER","startTime":1895.57,"endTime":1897.4,"body":"Depending on the"},{"speaker":"JESSE WEDLER","startTime":1895.57,"endTime":1897.4,"body":"parameters you care about,"},{"speaker":"JESSE WEDLER","startTime":1897.4,"endTime":1898.66,"body":"I'll search for these words."},{"speaker":"JESSE WEDLER","startTime":1898.66,"endTime":1901.96,"body":"I'll tell you what is"},{"speaker":"JESSE WEDLER","startTime":1898.66,"endTime":1901.96,"body":"a potential red flag"},{"speaker":"JESSE WEDLER","startTime":1901.96,"endTime":1903.02,"body":"in this business."},{"speaker":"JESSE WEDLER","startTime":1903.02,"endTime":1906.55,"body":"So the person's still going"},{"speaker":"JESSE WEDLER","startTime":1903.02,"endTime":1906.55,"body":"to be human underwritten,"},{"speaker":"JESSE WEDLER","startTime":1906.55,"endTime":1908.41,"body":"but it's going to"},{"speaker":"JESSE WEDLER","startTime":1906.55,"endTime":1908.41,"body":"be AI assisted."},{"speaker":"JESSE WEDLER","startTime":1908.41,"endTime":1910.03,"body":"And I think that's"},{"speaker":"JESSE WEDLER","startTime":1908.41,"endTime":1910.03,"body":"an important thing"},{"speaker":"JESSE WEDLER","startTime":1910.03,"endTime":1912.94,"body":"as teams are thinking about"},{"speaker":"JESSE WEDLER","startTime":1910.03,"endTime":1912.94,"body":"how to apply AI to this space."},{"speaker":"JESSE WEDLER","startTime":1912.94,"endTime":1917.23,"body":"Carriers don't want AI to"},{"speaker":"JESSE WEDLER","startTime":1912.94,"endTime":1917.23,"body":"go replace the secret sauce"},{"speaker":"JESSE WEDLER","startTime":1917.23,"endTime":1919.03,"body":"of their business."},{"speaker":"JESSE WEDLER","startTime":1919.03,"endTime":1921.423,"body":"Just like if you talk"},{"speaker":"JESSE WEDLER","startTime":1919.03,"endTime":1921.423,"body":"to the legal profession,"},{"speaker":"JESSE WEDLER","startTime":1921.423,"endTime":1923.59,"body":"there's a bunch of going"},{"speaker":"JESSE WEDLER","startTime":1921.423,"endTime":1923.59,"body":"after legal tech right now."},{"speaker":"JESSE WEDLER","startTime":1923.59,"endTime":1925.833,"body":"Lawyers don't want to be"},{"speaker":"JESSE WEDLER","startTime":1923.59,"endTime":1925.833,"body":"told how to do their job."},{"speaker":"JESSE WEDLER","startTime":1925.833,"endTime":1927.25,"body":"But they definitely"},{"speaker":"JESSE WEDLER","startTime":1925.833,"endTime":1927.25,"body":"want something"},{"speaker":"JESSE WEDLER","startTime":1927.25,"endTime":1928.96,"body":"that's going to make them a"},{"speaker":"JESSE WEDLER","startTime":1927.25,"endTime":1928.96,"body":"lot more efficient in finding"},{"speaker":"JESSE WEDLER","startTime":1928.96,"endTime":1930.19,"body":"that needle in the"},{"speaker":"JESSE WEDLER","startTime":1928.96,"endTime":1930.19,"body":"haystack and going"},{"speaker":"JESSE WEDLER","startTime":1930.19,"endTime":1931.542,"body":"through a bunch of information."},{"speaker":"JESSE WEDLER","startTime":1931.542,"endTime":1934.0,"body":"And so I think that's where"},{"speaker":"JESSE WEDLER","startTime":1931.542,"endTime":1934.0,"body":"there's a bunch of opportunity."},{"speaker":"JESSE WEDLER","startTime":1934.0,"endTime":1936.37,"body":"But it'll for sure"},{"speaker":"JESSE WEDLER","startTime":1934.0,"endTime":1936.37,"body":"create a new hype"},{"speaker":"JESSE WEDLER","startTime":1936.37,"endTime":1940.52,"body":"cycle and a wave of"},{"speaker":"JESSE WEDLER","startTime":1936.37,"endTime":1940.52,"body":"craziness and funding"},{"speaker":"JESSE WEDLER","startTime":1940.52,"endTime":1942.56,"body":"probably within InsurTech."},{"speaker":"JESSE WEDLER","startTime":1942.56,"endTime":1944.99,"body":"I think the question is,"},{"speaker":"JESSE WEDLER","startTime":1942.56,"endTime":1944.99,"body":"what are the models that"},{"speaker":"JESSE WEDLER","startTime":1944.99,"endTime":1946.88,"body":"actually have"},{"speaker":"JESSE WEDLER","startTime":1944.99,"endTime":1946.88,"body":"long-term staying power"},{"speaker":"JESSE WEDLER","startTime":1946.88,"endTime":1949.965,"body":"or there's just clear ROI."},{"speaker":"REID HOLZWORTH","startTime":1949.965,"endTime":1951.09,"body":"Absolutely."},{"speaker":"REID HOLZWORTH","startTime":1951.09,"endTime":1953.2,"body":"This whole AI thing, man,"},{"speaker":"REID HOLZWORTH","startTime":1951.09,"endTime":1953.2,"body":"is really interesting."},{"speaker":"REID HOLZWORTH","startTime":1953.2,"endTime":1959.31,"body":"It is like so over-hyped"},{"speaker":"REID HOLZWORTH","startTime":1953.2,"endTime":1959.31,"body":"right now but for good reason."},{"speaker":"REID HOLZWORTH","startTime":1959.31,"endTime":1960.64,"body":"I think it's funny."},{"speaker":"REID HOLZWORTH","startTime":1960.64,"endTime":1962.55,"body":"I had a buddy who"},{"speaker":"REID HOLZWORTH","startTime":1960.64,"endTime":1962.55,"body":"called me yesterday."},{"speaker":"REID HOLZWORTH","startTime":1962.55,"endTime":1964.23,"body":"Freaking guy's blowing me up."},{"speaker":"REID HOLZWORTH","startTime":1964.23,"endTime":1966.76,"body":"He's like, dude, I got the"},{"speaker":"REID HOLZWORTH","startTime":1964.23,"endTime":1966.76,"body":"best business idea ever."},{"speaker":"REID HOLZWORTH","startTime":1966.76,"endTime":1968.61,"body":"You know Trace commerce,"},{"speaker":"REID HOLZWORTH","startTime":1966.76,"endTime":1968.61,"body":"Trace commerce."},{"speaker":"REID HOLZWORTH","startTime":1968.61,"endTime":1969.69,"body":"He's saying all this."},{"speaker":"REID HOLZWORTH","startTime":1969.69,"endTime":1972.39,"body":"And it's funny."},{"speaker":"REID HOLZWORTH","startTime":1972.39,"endTime":1974.46,"body":"If you know that, that's funny."},{"speaker":"JESSE WEDLER","startTime":1974.46,"endTime":1976.65,"body":"Yeah,"},{"speaker":"JESSE WEDLER","startTime":1974.46,"endTime":1976.65,"body":"from Silicon Valley."},{"speaker":"JESSE WEDLER","startTime":1976.65,"endTime":1978.45,"body":"But, yeah, on the"},{"speaker":"JESSE WEDLER","startTime":1976.65,"endTime":1978.45,"body":"AI thing, I think,"},{"speaker":"JESSE WEDLER","startTime":1978.45,"endTime":1980.76,"body":"it is super interesting"},{"speaker":"JESSE WEDLER","startTime":1978.45,"endTime":1980.76,"body":"because it's"},{"speaker":"JESSE WEDLER","startTime":1980.76,"endTime":1982.65,"body":"an equal playing"},{"speaker":"JESSE WEDLER","startTime":1980.76,"endTime":1982.65,"body":"field where everyone's"},{"speaker":"JESSE WEDLER","startTime":1982.65,"endTime":1984.48,"body":"starting from the same spot."},{"speaker":"JESSE WEDLER","startTime":1984.48,"endTime":1986.16,"body":"Everyone's figuring"},{"speaker":"JESSE WEDLER","startTime":1984.48,"endTime":1986.16,"body":"it out right now."},{"speaker":"JESSE WEDLER","startTime":1986.16,"endTime":1987.922,"body":"I think if you're"},{"speaker":"JESSE WEDLER","startTime":1986.16,"endTime":1987.922,"body":"an incumbent, you've"},{"speaker":"JESSE WEDLER","startTime":1987.922,"endTime":1989.13,"body":"got to go experiment with it."},{"speaker":"JESSE WEDLER","startTime":1989.13,"endTime":1991.547,"body":"You got to figure out what the"},{"speaker":"JESSE WEDLER","startTime":1989.13,"endTime":1991.547,"body":"use cases are so you're not"},{"speaker":"JESSE WEDLER","startTime":1991.547,"endTime":1992.47,"body":"flat footed with it."},{"speaker":"JESSE WEDLER","startTime":1992.47,"endTime":1994.41,"body":"But I also think"},{"speaker":"JESSE WEDLER","startTime":1992.47,"endTime":1994.41,"body":"it's so interesting"},{"speaker":"JESSE WEDLER","startTime":1994.41,"endTime":1997.53,"body":"with the Silicon Valley lens,"},{"speaker":"JESSE WEDLER","startTime":1994.41,"endTime":1997.53,"body":"all these early stage AI"},{"speaker":"JESSE WEDLER","startTime":1997.53,"endTime":2000.74,"body":"investors are like, aren't you"},{"speaker":"JESSE WEDLER","startTime":1997.53,"endTime":2000.74,"body":"worried that AI, people are"},{"speaker":"JESSE WEDLER","startTime":2000.74,"endTime":2002.69,"body":"going to build and"},{"speaker":"JESSE WEDLER","startTime":2000.74,"endTime":2002.69,"body":"replicate businesses"},{"speaker":"JESSE WEDLER","startTime":2002.69,"endTime":2006.71,"body":"like Applied or other"},{"speaker":"JESSE WEDLER","startTime":2002.69,"endTime":2006.71,"body":"great software businesses?"},{"speaker":"JESSE WEDLER","startTime":2006.71,"endTime":2008.91,"body":"I'm like, no."},{"speaker":"JESSE WEDLER","startTime":2008.91,"endTime":2012.96,"body":"Maybe you'd be able to replicate"},{"speaker":"JESSE WEDLER","startTime":2008.91,"endTime":2012.96,"body":"interfaces quickly using"},{"speaker":"JESSE WEDLER","startTime":2012.96,"endTime":2016.32,"body":"that but to replicate the domain"},{"speaker":"JESSE WEDLER","startTime":2012.96,"endTime":2016.32,"body":"expertise and the connectivity."},{"speaker":"JESSE WEDLER","startTime":2016.32,"endTime":2019.325,"body":"So I don't worry about"},{"speaker":"JESSE WEDLER","startTime":2016.32,"endTime":2019.325,"body":"disruption from AI."},{"speaker":"JESSE WEDLER","startTime":2019.325,"endTime":2020.88,"body":"I think it's really"},{"speaker":"JESSE WEDLER","startTime":2019.325,"endTime":2020.88,"body":"just a question"},{"speaker":"JESSE WEDLER","startTime":2020.88,"endTime":2023.07,"body":"like, what are the use"},{"speaker":"JESSE WEDLER","startTime":2020.88,"endTime":2023.07,"body":"cases that are actually"},{"speaker":"JESSE WEDLER","startTime":2023.07,"endTime":2026.7,"body":"going to work in this industry"},{"speaker":"JESSE WEDLER","startTime":2023.07,"endTime":2026.7,"body":"and who should be the companies"},{"speaker":"JESSE WEDLER","startTime":2026.7,"endTime":2028.14,"body":"to build and own that."},{"speaker":"JESSE WEDLER","startTime":2028.14,"endTime":2032.208,"body":"And I'm sure there'll be some"},{"speaker":"JESSE WEDLER","startTime":2028.14,"endTime":2032.208,"body":"really exciting new upstarts."},{"speaker":"JESSE WEDLER","startTime":2032.208,"endTime":2034.5,"body":"I think distribution will be"},{"speaker":"JESSE WEDLER","startTime":2032.208,"endTime":2034.5,"body":"the key question for them,"},{"speaker":"JESSE WEDLER","startTime":2034.5,"endTime":2037.86,"body":"back to what you were saying,"},{"speaker":"JESSE WEDLER","startTime":2034.5,"endTime":2037.86,"body":"because whether you're"},{"speaker":"JESSE WEDLER","startTime":2037.86,"endTime":2041.58,"body":"selling to carriers"},{"speaker":"JESSE WEDLER","startTime":2037.86,"endTime":2041.58,"body":"or agents, you got"},{"speaker":"JESSE WEDLER","startTime":2041.58,"endTime":2043.02,"body":"to stand up a big sales team."},{"speaker":"JESSE WEDLER","startTime":2043.02,"endTime":2044.22,"body":"And that's where the"},{"speaker":"JESSE WEDLER","startTime":2043.02,"endTime":2044.22,"body":"incumbents are going"},{"speaker":"JESSE WEDLER","startTime":2044.22,"endTime":2045.58,"body":"to have a lot of advantage."},{"speaker":"JESSE WEDLER","startTime":2045.58,"endTime":2048.69,"body":"And so everyone's"},{"speaker":"JESSE WEDLER","startTime":2045.58,"endTime":2048.69,"body":"trying to figure it out."},{"speaker":"REID HOLZWORTH","startTime":2048.69,"endTime":2051.21,"body":"Stand"},{"speaker":"REID HOLZWORTH","startTime":2048.69,"endTime":2051.21,"body":"up a big sales team."},{"speaker":"REID HOLZWORTH","startTime":2051.21,"endTime":2055.08,"body":"Where everybody fails going"},{"speaker":"REID HOLZWORTH","startTime":2051.21,"endTime":2055.08,"body":"after the incumbents is"},{"speaker":"REID HOLZWORTH","startTime":2055.08,"endTime":2058.409,"body":"migrating all the data"},{"speaker":"REID HOLZWORTH","startTime":2055.08,"endTime":2058.409,"body":"and migrating everything"},{"speaker":"REID HOLZWORTH","startTime":2058.409,"endTime":2061.679,"body":"that business has today,"},{"speaker":"REID HOLZWORTH","startTime":2058.409,"endTime":2061.679,"body":"all their workflows,"},{"speaker":"REID HOLZWORTH","startTime":2061.679,"endTime":2063.6,"body":"everything that they do."},{"speaker":"REID HOLZWORTH","startTime":2063.6,"endTime":2065.85,"body":"Everybody thinks"},{"speaker":"REID HOLZWORTH","startTime":2063.6,"endTime":2065.85,"body":"if I just bring out"},{"speaker":"REID HOLZWORTH","startTime":2065.85,"endTime":2069.449,"body":"to the street this new"},{"speaker":"REID HOLZWORTH","startTime":2065.85,"endTime":2069.449,"body":"shiny thing and it's cool"},{"speaker":"REID HOLZWORTH","startTime":2069.449,"endTime":2071.73,"body":"and it's smart and it's"},{"speaker":"REID HOLZWORTH","startTime":2069.449,"endTime":2071.73,"body":"better than whatever,"},{"speaker":"REID HOLZWORTH","startTime":2071.73,"endTime":2076.937,"body":"it's a long road to get people"},{"speaker":"REID HOLZWORTH","startTime":2071.73,"endTime":2076.937,"body":"to actually move over on that."},{"speaker":"REID HOLZWORTH","startTime":2076.937,"endTime":2078.27,"body":"And I like what you said though."},{"speaker":"REID HOLZWORTH","startTime":2078.27,"endTime":2078.812,"body":"You're right."},{"speaker":"REID HOLZWORTH","startTime":2078.812,"endTime":2080.65,"body":"It's a level playing field."},{"speaker":"REID HOLZWORTH","startTime":2080.65,"endTime":2083.429,"body":"And like I said in my body,"},{"speaker":"REID HOLZWORTH","startTime":2080.65,"endTime":2083.429,"body":"it's like, dude, everybody's"},{"speaker":"REID HOLZWORTH","startTime":2083.429,"endTime":2085.71,"body":"after this right"},{"speaker":"REID HOLZWORTH","startTime":2083.429,"endTime":2085.71,"body":"now because it's not"},{"speaker":"REID HOLZWORTH","startTime":2085.71,"endTime":2091.83,"body":"super expensive to go spin up"},{"speaker":"REID HOLZWORTH","startTime":2085.71,"endTime":2091.83,"body":"a team to go get after this."},{"speaker":"REID HOLZWORTH","startTime":2091.83,"endTime":2094.53,"body":"It's like when data started"},{"speaker":"REID HOLZWORTH","startTime":2091.83,"endTime":2094.53,"body":"to become a big thing."},{"speaker":"REID HOLZWORTH","startTime":2094.53,"endTime":2095.639,"body":"It's always been a thing."},{"speaker":"REID HOLZWORTH","startTime":2095.639,"endTime":2098.19,"body":"But as it's gotten bigger,"},{"speaker":"REID HOLZWORTH","startTime":2095.639,"endTime":2098.19,"body":"it's like building a big data"},{"speaker":"REID HOLZWORTH","startTime":2098.19,"endTime":2100.65,"body":"science team is no joke, man."},{"speaker":"REID HOLZWORTH","startTime":2100.65,"endTime":2103.8,"body":"But this AI stuff, we're"},{"speaker":"REID HOLZWORTH","startTime":2100.65,"endTime":2103.8,"body":"taking existing engineers,"},{"speaker":"REID HOLZWORTH","startTime":2103.8,"endTime":2106.02,"body":"really smart people."},{"speaker":"REID HOLZWORTH","startTime":2106.02,"endTime":2107.19,"body":"Dude, they know it."},{"speaker":"REID HOLZWORTH","startTime":2107.19,"endTime":2108.39,"body":"They're getting after it."},{"speaker":"JESSE WEDLER","startTime":2108.39,"endTime":2110.61,"body":"Totally."},{"speaker":"REID HOLZWORTH","startTime":2110.61,"endTime":2112.83,"body":"And"},{"speaker":"REID HOLZWORTH","startTime":2110.61,"endTime":2112.83,"body":"the big incumbents,"},{"speaker":"REID HOLZWORTH","startTime":2112.83,"endTime":2114.12,"body":"they have resources to do so."},{"speaker":"REID HOLZWORTH","startTime":2114.12,"endTime":2117.9,"body":"And their customers are"},{"speaker":"REID HOLZWORTH","startTime":2114.12,"endTime":2117.9,"body":"demanding an answer on this."},{"speaker":"REID HOLZWORTH","startTime":2117.9,"endTime":2120.427,"body":"And to your point, they're"},{"speaker":"REID HOLZWORTH","startTime":2117.9,"endTime":2120.427,"body":"doing it too because they're"},{"speaker":"REID HOLZWORTH","startTime":2120.427,"endTime":2121.26,"body":"a little bit afraid."},{"speaker":"REID HOLZWORTH","startTime":2121.26,"endTime":2122.802,"body":"Like, oh, what does"},{"speaker":"REID HOLZWORTH","startTime":2121.26,"endTime":2122.802,"body":"this mean for us?"},{"speaker":"REID HOLZWORTH","startTime":2122.802,"endTime":2126.48,"body":"We got to start figuring this"},{"speaker":"REID HOLZWORTH","startTime":2122.802,"endTime":2126.48,"body":"out and have an answer for it."},{"speaker":"JESSE WEDLER","startTime":2126.48,"endTime":2128.97,"body":"It's a mix of"},{"speaker":"JESSE WEDLER","startTime":2126.48,"endTime":2128.97,"body":"fear and opportunity, which"},{"speaker":"JESSE WEDLER","startTime":2128.97,"endTime":2130.07,"body":"I think is healthy."},{"speaker":"JESSE WEDLER","startTime":2130.07,"endTime":2132.65,"body":"But it's going to"},{"speaker":"JESSE WEDLER","startTime":2130.07,"endTime":2132.65,"body":"be a fun time to see"},{"speaker":"JESSE WEDLER","startTime":2132.65,"endTime":2136.155,"body":"what actually percolates and"},{"speaker":"JESSE WEDLER","startTime":2132.65,"endTime":2136.155,"body":"ends up being good use cases."},{"speaker":"REID HOLZWORTH","startTime":2136.155,"endTime":2138.53,"body":"So how about"},{"speaker":"REID HOLZWORTH","startTime":2136.155,"endTime":2138.53,"body":"so how about Google in this?"},{"speaker":"REID HOLZWORTH","startTime":2138.53,"endTime":2140.69,"body":"And maybe you're not the"},{"speaker":"REID HOLZWORTH","startTime":2138.53,"endTime":2140.69,"body":"best one to speak to this,"},{"speaker":"REID HOLZWORTH","startTime":2140.69,"endTime":2146.72,"body":"but Google definitely playing"},{"speaker":"REID HOLZWORTH","startTime":2140.69,"endTime":2146.72,"body":"in the AI space overall."},{"speaker":"REID HOLZWORTH","startTime":2146.72,"endTime":2152.15,"body":"It's interesting because Google"},{"speaker":"REID HOLZWORTH","startTime":2146.72,"endTime":2152.15,"body":"is so enterprise how Google is"},{"speaker":"REID HOLZWORTH","startTime":2152.15,"endTime":2155.99,"body":"packaging this whole thing up."},{"speaker":"REID HOLZWORTH","startTime":2155.99,"endTime":2160.67,"body":"It feels different than the"},{"speaker":"REID HOLZWORTH","startTime":2155.99,"endTime":2160.67,"body":"others that I've talked to"},{"speaker":"REID HOLZWORTH","startTime":2160.67,"endTime":2161.665,"body":"or seen."},{"speaker":"JESSE WEDLER","startTime":2161.665,"endTime":2163.79,"body":"So I can't"},{"speaker":"JESSE WEDLER","startTime":2161.665,"endTime":2163.79,"body":"speak on behalf of Google."},{"speaker":"JESSE WEDLER","startTime":2163.79,"endTime":2167.51,"body":"I can say my own"},{"speaker":"JESSE WEDLER","startTime":2163.79,"endTime":2167.51,"body":"thoughts as an investor."},{"speaker":"JESSE WEDLER","startTime":2167.51,"endTime":2170.6,"body":"I think Google Cloud"},{"speaker":"JESSE WEDLER","startTime":2167.51,"endTime":2170.6,"body":"obviously wants"},{"speaker":"JESSE WEDLER","startTime":2170.6,"endTime":2175.79,"body":"to gain share in the cloud"},{"speaker":"JESSE WEDLER","startTime":2170.6,"endTime":2175.79,"body":"market with AWS and Azure."},{"speaker":"JESSE WEDLER","startTime":2175.79,"endTime":2178.25,"body":"AI very important new trend."},{"speaker":"JESSE WEDLER","startTime":2178.25,"endTime":2180.59,"body":"Google has incredible"},{"speaker":"JESSE WEDLER","startTime":2178.25,"endTime":2180.59,"body":"AI technology."},{"speaker":"JESSE WEDLER","startTime":2180.59,"endTime":2184.1,"body":"I don't think you'll see them"},{"speaker":"JESSE WEDLER","startTime":2180.59,"endTime":2184.1,"body":"building productized solutions"},{"speaker":"JESSE WEDLER","startTime":2184.1,"endTime":2185.578,"body":"for specific industries."},{"speaker":"JESSE WEDLER","startTime":2185.578,"endTime":2187.37,"body":"They want to be the"},{"speaker":"JESSE WEDLER","startTime":2185.578,"endTime":2187.37,"body":"infrastructure provider"},{"speaker":"JESSE WEDLER","startTime":2187.37,"endTime":2191.24,"body":"to enable teams and"},{"speaker":"JESSE WEDLER","startTime":2187.37,"endTime":2191.24,"body":"incumbents, startups,"},{"speaker":"JESSE WEDLER","startTime":2191.24,"endTime":2194.25,"body":"everyone to go"},{"speaker":"JESSE WEDLER","startTime":2191.24,"endTime":2194.25,"body":"build new solutions,"},{"speaker":"JESSE WEDLER","startTime":2194.25,"endTime":2196.527,"body":"new AI based solutions"},{"speaker":"JESSE WEDLER","startTime":2194.25,"endTime":2196.527,"body":"on Google Cloud."},{"speaker":"JESSE WEDLER","startTime":2196.527,"endTime":2198.11,"body":"And they've got a"},{"speaker":"JESSE WEDLER","startTime":2196.527,"endTime":2198.11,"body":"good argument for it"},{"speaker":"JESSE WEDLER","startTime":2198.11,"endTime":2199.985,"body":"because I think they've"},{"speaker":"JESSE WEDLER","startTime":2198.11,"endTime":2199.985,"body":"got probably the best"},{"speaker":"JESSE WEDLER","startTime":2199.985,"endTime":2201.802,"body":"platform for enterprise AI."},{"speaker":"JESSE WEDLER","startTime":2201.802,"endTime":2203.51,"body":"Microsoft did a lot"},{"speaker":"JESSE WEDLER","startTime":2201.802,"endTime":2203.51,"body":"of interesting stuff."},{"speaker":"JESSE WEDLER","startTime":2203.51,"endTime":2205.077,"body":"Everyone's working hard on it."},{"speaker":"JESSE WEDLER","startTime":2205.077,"endTime":2206.66,"body":"I think that's where"},{"speaker":"JESSE WEDLER","startTime":2205.077,"endTime":2206.66,"body":"you'll see Google"},{"speaker":"JESSE WEDLER","startTime":2206.66,"endTime":2209.18,"body":"play in this is, how"},{"speaker":"JESSE WEDLER","startTime":2206.66,"endTime":2209.18,"body":"can we really leverage"},{"speaker":"JESSE WEDLER","startTime":2209.18,"endTime":2212.18,"body":"these capabilities to enable"},{"speaker":"JESSE WEDLER","startTime":2209.18,"endTime":2212.18,"body":"the next generation of products"},{"speaker":"JESSE WEDLER","startTime":2212.18,"endTime":2214.767,"body":"to be built on Google Cloud?"},{"speaker":"REID HOLZWORTH","startTime":2214.767,"endTime":2216.35,"body":"I"},{"speaker":"REID HOLZWORTH","startTime":2214.767,"endTime":2216.35,"body":"think that goes back"},{"speaker":"REID HOLZWORTH","startTime":2216.35,"endTime":2218.21,"body":"to what we were"},{"speaker":"REID HOLZWORTH","startTime":2216.35,"endTime":2218.21,"body":"talking about earlier"},{"speaker":"REID HOLZWORTH","startTime":2218.21,"endTime":2221.27,"body":"too about the fear in"},{"speaker":"REID HOLZWORTH","startTime":2218.21,"endTime":2221.27,"body":"the industry about Google"},{"speaker":"REID HOLZWORTH","startTime":2221.27,"endTime":2223.85,"body":"and like Google Compare"},{"speaker":"REID HOLZWORTH","startTime":2221.27,"endTime":2223.85,"body":"and all that kind of stuff."},{"speaker":"REID HOLZWORTH","startTime":2223.85,"endTime":2226.16,"body":"Guys, this is where"},{"speaker":"REID HOLZWORTH","startTime":2223.85,"endTime":2226.16,"body":"Google wants to play."},{"speaker":"REID HOLZWORTH","startTime":2226.16,"endTime":2228.05,"body":"This is where the real money is."},{"speaker":"REID HOLZWORTH","startTime":2228.05,"endTime":2231.71,"body":"It's not in becoming"},{"speaker":"REID HOLZWORTH","startTime":2228.05,"endTime":2231.71,"body":"an insurance agent."},{"speaker":"REID HOLZWORTH","startTime":2231.71,"endTime":2233.51,"body":"I hate to say it like that."},{"speaker":"REID HOLZWORTH","startTime":2233.51,"endTime":2235.595,"body":"But this is where"},{"speaker":"REID HOLZWORTH","startTime":2233.51,"endTime":2235.595,"body":"they make the money."},{"speaker":"JESSE WEDLER","startTime":2235.595,"endTime":2237.72,"body":"And they try"},{"speaker":"JESSE WEDLER","startTime":2235.595,"endTime":2237.72,"body":"that and it didn't work."},{"speaker":"JESSE WEDLER","startTime":2237.72,"endTime":2240.02,"body":"And so you think about"},{"speaker":"JESSE WEDLER","startTime":2237.72,"endTime":2240.02,"body":"being a product manager"},{"speaker":"JESSE WEDLER","startTime":2240.02,"endTime":2242.595,"body":"inside of Google to go propose"},{"speaker":"JESSE WEDLER","startTime":2240.02,"endTime":2242.595,"body":"something like Compare again"},{"speaker":"JESSE WEDLER","startTime":2242.595,"endTime":2244.22,"body":"and they're going to"},{"speaker":"JESSE WEDLER","startTime":2242.595,"endTime":2244.22,"body":"be like, didn't we"},{"speaker":"JESSE WEDLER","startTime":2244.22,"endTime":2246.2,"body":"try that 5, 10 years ago?"},{"speaker":"JESSE WEDLER","startTime":2246.2,"endTime":2250.15,"body":"It didn't work last time, why"},{"speaker":"JESSE WEDLER","startTime":2246.2,"endTime":2250.15,"body":"do we want to do it again?"},{"speaker":"JESSE WEDLER","startTime":2250.15,"endTime":2252.34,"body":"It's a people run"},{"speaker":"JESSE WEDLER","startTime":2250.15,"endTime":2252.34,"body":"organization, and I"},{"speaker":"JESSE WEDLER","startTime":2252.34,"endTime":2255.01,"body":"think they want to go be"},{"speaker":"JESSE WEDLER","startTime":2252.34,"endTime":2255.01,"body":"the infrastructure to power"},{"speaker":"JESSE WEDLER","startTime":2255.01,"endTime":2256.01,"body":"the industry."},{"speaker":"JESSE WEDLER","startTime":2256.01,"endTime":2258.77,"body":"And that's where they know"},{"speaker":"JESSE WEDLER","startTime":2256.01,"endTime":2258.77,"body":"they're good at competing."},{"speaker":"JESSE WEDLER","startTime":2258.77,"endTime":2261.117,"body":"I think that's where"},{"speaker":"JESSE WEDLER","startTime":2258.77,"endTime":2261.117,"body":"you'll see them compete."},{"speaker":"REID HOLZWORTH","startTime":2261.117,"endTime":2263.2,"body":"And they're"},{"speaker":"REID HOLZWORTH","startTime":2261.117,"endTime":2263.2,"body":"getting after it, man."},{"speaker":"REID HOLZWORTH","startTime":2263.2,"endTime":2267.79,"body":"They're focusing on insurance"},{"speaker":"REID HOLZWORTH","startTime":2263.2,"endTime":2267.79,"body":"specifically with GCP."},{"speaker":"REID HOLZWORTH","startTime":2267.79,"endTime":2272.11,"body":"And and this is just AI,"},{"speaker":"REID HOLZWORTH","startTime":2267.79,"endTime":2272.11,"body":"the whole platform there."},{"speaker":"REID HOLZWORTH","startTime":2272.11,"endTime":2273.047,"body":"It's another one."},{"speaker":"JESSE WEDLER","startTime":2273.047,"endTime":2274.63,"body":"Yeah,"},{"speaker":"JESSE WEDLER","startTime":2273.047,"endTime":2274.63,"body":"well, you got guys"},{"speaker":"JESSE WEDLER","startTime":2274.63,"endTime":2276.255,"body":"like Nigel Walsh and"},{"speaker":"JESSE WEDLER","startTime":2274.63,"endTime":2276.255,"body":"his whole team who"},{"speaker":"JESSE WEDLER","startTime":2276.255,"endTime":2278.86,"body":"have been trying to sell GCP"},{"speaker":"JESSE WEDLER","startTime":2276.255,"endTime":2278.86,"body":"infrastructure to the insurance"},{"speaker":"JESSE WEDLER","startTime":2278.86,"endTime":2279.432,"body":"industry."},{"speaker":"JESSE WEDLER","startTime":2279.432,"endTime":2281.14,"body":"It's like, shoot, now"},{"speaker":"JESSE WEDLER","startTime":2279.432,"endTime":2281.14,"body":"we've got something"},{"speaker":"JESSE WEDLER","startTime":2281.14,"endTime":2284.62,"body":"really new and exciting"},{"speaker":"JESSE WEDLER","startTime":2281.14,"endTime":2284.62,"body":"that you can use from GCP."},{"speaker":"JESSE WEDLER","startTime":2284.62,"endTime":2289.822,"body":"And so yeah, they're going"},{"speaker":"JESSE WEDLER","startTime":2284.62,"endTime":2289.822,"body":"out swinging and working hard."},{"speaker":"REID HOLZWORTH","startTime":2289.822,"endTime":2291.03,"body":"It's awesome."},{"speaker":"REID HOLZWORTH","startTime":2291.03,"endTime":2295.08,"body":"It's an interesting time"},{"speaker":"REID HOLZWORTH","startTime":2291.03,"endTime":2295.08,"body":"in this industry and just"},{"speaker":"REID HOLZWORTH","startTime":2295.08,"endTime":2297.805,"body":"in technology in general."},{"speaker":"REID HOLZWORTH","startTime":2297.805,"endTime":2299.43,"body":"Who could have"},{"speaker":"REID HOLZWORTH","startTime":2297.805,"endTime":2299.43,"body":"imagined, like you said,"},{"speaker":"REID HOLZWORTH","startTime":2299.43,"endTime":2302.49,"body":"back in the '90s,"},{"speaker":"REID HOLZWORTH","startTime":2299.43,"endTime":2302.49,"body":"the world wide web."},{"speaker":"REID HOLZWORTH","startTime":2302.49,"endTime":2304.86,"body":"You're like, what are"},{"speaker":"REID HOLZWORTH","startTime":2302.49,"endTime":2304.86,"body":"you talking about?"},{"speaker":"REID HOLZWORTH","startTime":2304.86,"endTime":2306.99,"body":"That wasn't that long ago."},{"speaker":"JESSE WEDLER","startTime":2306.99,"endTime":2309.27,"body":"'95 the"},{"speaker":"JESSE WEDLER","startTime":2306.99,"endTime":2309.27,"body":"spider web of information"},{"speaker":"JESSE WEDLER","startTime":2309.27,"endTime":2312.593,"body":"is slow load times like,"},{"speaker":"JESSE WEDLER","startTime":2309.27,"endTime":2312.593,"body":"what are we doing here?"},{"speaker":"JESSE WEDLER","startTime":2312.593,"endTime":2313.26,"body":"Now, it's crazy."},{"speaker":"JESSE WEDLER","startTime":2313.26,"endTime":2315.33,"body":"You think about 20"},{"speaker":"JESSE WEDLER","startTime":2313.26,"endTime":2315.33,"body":"years from now, that'll"},{"speaker":"JESSE WEDLER","startTime":2315.33,"endTime":2316.845,"body":"go by in a blink of an eye."},{"speaker":"JESSE WEDLER","startTime":2316.845,"endTime":2318.72,"body":"Like, what will this"},{"speaker":"JESSE WEDLER","startTime":2316.845,"endTime":2318.72,"body":"industry look like then?"},{"speaker":"REID HOLZWORTH","startTime":2320.873,"endTime":2322.29,"body":"I"},{"speaker":"REID HOLZWORTH","startTime":2320.873,"endTime":2322.29,"body":"don't know, man."},{"speaker":"REID HOLZWORTH","startTime":2322.29,"endTime":2324.725,"body":"We'll see."},{"speaker":"JESSE WEDLER","startTime":2324.725,"endTime":2326.85,"body":"There will"},{"speaker":"JESSE WEDLER","startTime":2324.725,"endTime":2326.85,"body":"always be people involved."},{"speaker":"JESSE WEDLER","startTime":2326.85,"endTime":2328.58,"body":"It's a people driven industry."},{"speaker":"JESSE WEDLER","startTime":2328.58,"endTime":2330.33,"body":"There's always going"},{"speaker":"JESSE WEDLER","startTime":2328.58,"endTime":2330.33,"body":"to be a lot of people"},{"speaker":"JESSE WEDLER","startTime":2330.33,"endTime":2332.64,"body":"that need to power the"},{"speaker":"JESSE WEDLER","startTime":2330.33,"endTime":2332.64,"body":"underwriting piece of it"},{"speaker":"JESSE WEDLER","startTime":2332.64,"endTime":2333.72,"body":"to make sense of it."},{"speaker":"JESSE WEDLER","startTime":2333.72,"endTime":2336.09,"body":"AI is not going to replace"},{"speaker":"JESSE WEDLER","startTime":2333.72,"endTime":2336.09,"body":"risk underwriting ."},{"speaker":"JESSE WEDLER","startTime":2336.09,"endTime":2339.69,"body":"Entirely but there will be a"},{"speaker":"JESSE WEDLER","startTime":2336.09,"endTime":2339.69,"body":"lot of automation is my guess."},{"speaker":"JESSE WEDLER","startTime":2339.69,"endTime":2342.66,"body":"There will be a lot of"},{"speaker":"JESSE WEDLER","startTime":2339.69,"endTime":2342.66,"body":"customer interactions"},{"speaker":"JESSE WEDLER","startTime":2342.66,"endTime":2344.52,"body":"that are entirely"},{"speaker":"JESSE WEDLER","startTime":2342.66,"endTime":2344.52,"body":"powered by technology."},{"speaker":"JESSE WEDLER","startTime":2344.52,"endTime":2346.5,"body":"There'll be a lot"},{"speaker":"JESSE WEDLER","startTime":2344.52,"endTime":2346.5,"body":"of connectivity"},{"speaker":"JESSE WEDLER","startTime":2346.5,"endTime":2349.57,"body":"between different services,"},{"speaker":"JESSE WEDLER","startTime":2346.5,"endTime":2349.57,"body":"carriers, and brokers that's"},{"speaker":"JESSE WEDLER","startTime":2349.57,"endTime":2352.1,"body":"all powered with technology."},{"speaker":"JESSE WEDLER","startTime":2352.1,"endTime":2355.12,"body":"So I think the IT"},{"speaker":"JESSE WEDLER","startTime":2352.1,"endTime":2355.12,"body":"budget will increase."},{"speaker":"JESSE WEDLER","startTime":2355.12,"endTime":2358.01,"body":"The efficiency of the"},{"speaker":"JESSE WEDLER","startTime":2355.12,"endTime":2358.01,"body":"industry will go up."},{"speaker":"JESSE WEDLER","startTime":2358.01,"endTime":2360.73,"body":"And it will take a long time"},{"speaker":"JESSE WEDLER","startTime":2358.01,"endTime":2360.73,"body":"and a lot of pain to get there,"},{"speaker":"JESSE WEDLER","startTime":2360.73,"endTime":2363.733,"body":"but it seems pretty inevitable."},{"speaker":"REID HOLZWORTH","startTime":2363.733,"endTime":2365.65,"body":"I agree"},{"speaker":"REID HOLZWORTH","startTime":2363.733,"endTime":2365.65,"body":"with you, man, totally"},{"speaker":"REID HOLZWORTH","startTime":2365.65,"endTime":2366.77,"body":"agree with you."},{"speaker":"REID HOLZWORTH","startTime":2366.77,"endTime":2368.793,"body":"So any advice you"},{"speaker":"REID HOLZWORTH","startTime":2366.77,"endTime":2368.793,"body":"have for entrepreneurs"},{"speaker":"REID HOLZWORTH","startTime":2368.793,"endTime":2370.585,"body":"coming into the insurance"},{"speaker":"REID HOLZWORTH","startTime":2368.793,"endTime":2370.585,"body":"technology space?"},{"speaker":"JESSE WEDLER","startTime":2374.07,"endTime":2377.19,"body":"I give this advice"},{"speaker":"JESSE WEDLER","startTime":2374.07,"endTime":2377.19,"body":"to any friends or early stage"},{"speaker":"JESSE WEDLER","startTime":2377.19,"endTime":2378.69,"body":"entrepreneurs but"},{"speaker":"JESSE WEDLER","startTime":2377.19,"endTime":2378.69,"body":"I think especially"},{"speaker":"JESSE WEDLER","startTime":2378.69,"endTime":2381.48,"body":"within insurance, which"},{"speaker":"JESSE WEDLER","startTime":2378.69,"endTime":2381.48,"body":"is, pick your lane,"},{"speaker":"JESSE WEDLER","startTime":2381.48,"endTime":2384.81,"body":"have incredible focus,"},{"speaker":"JESSE WEDLER","startTime":2381.48,"endTime":2384.81,"body":"and just find something"},{"speaker":"JESSE WEDLER","startTime":2384.81,"endTime":2388.08,"body":"that you can be great at"},{"speaker":"JESSE WEDLER","startTime":2384.81,"endTime":2388.08,"body":"and stay focused on that."},{"speaker":"JESSE WEDLER","startTime":2388.08,"endTime":2391.74,"body":"And I think there's so many"},{"speaker":"JESSE WEDLER","startTime":2388.08,"endTime":2391.74,"body":"opportunities around insurance,"},{"speaker":"JESSE WEDLER","startTime":2391.74,"endTime":2394.052,"body":"but you've got to really"},{"speaker":"JESSE WEDLER","startTime":2391.74,"endTime":2394.052,"body":"understand the domain."},{"speaker":"JESSE WEDLER","startTime":2394.052,"endTime":2395.76,"body":"You got to make sure"},{"speaker":"JESSE WEDLER","startTime":2394.052,"endTime":2395.76,"body":"you do your homework"},{"speaker":"JESSE WEDLER","startTime":2395.76,"endTime":2397.56,"body":"and talk to"},{"speaker":"JESSE WEDLER","startTime":2395.76,"endTime":2397.56,"body":"prospective customers"},{"speaker":"JESSE WEDLER","startTime":2397.56,"endTime":2401.537,"body":"and then you just got to"},{"speaker":"JESSE WEDLER","startTime":2397.56,"endTime":2401.537,"body":"stay focused and be patient."},{"speaker":"REID HOLZWORTH","startTime":2401.537,"endTime":2403.37,"body":"So you"},{"speaker":"REID HOLZWORTH","startTime":2401.537,"endTime":2403.37,"body":"hear that, listeners?"},{"speaker":"REID HOLZWORTH","startTime":2403.37,"endTime":2405.47,"body":"You come talk to a"},{"speaker":"REID HOLZWORTH","startTime":2403.37,"endTime":2405.47,"body":"guy like Jesse Wedler,"},{"speaker":"REID HOLZWORTH","startTime":2405.47,"endTime":2407.428,"body":"you better have"},{"speaker":"REID HOLZWORTH","startTime":2405.47,"endTime":2407.428,"body":"your shit together."},{"speaker":"REID HOLZWORTH","startTime":2407.428,"endTime":2409.97,"body":"Don't be like, oh, I'm thinking"},{"speaker":"REID HOLZWORTH","startTime":2407.428,"endTime":2409.97,"body":"about doing this other thing."},{"speaker":"REID HOLZWORTH","startTime":2409.97,"endTime":2411.928,"body":"We're doing this, and"},{"speaker":"REID HOLZWORTH","startTime":2409.97,"endTime":2411.928,"body":"this is working real well"},{"speaker":"REID HOLZWORTH","startTime":2411.928,"endTime":2413.84,"body":"but we have these other"},{"speaker":"REID HOLZWORTH","startTime":2411.928,"endTime":2413.84,"body":"nine opportunities"},{"speaker":"REID HOLZWORTH","startTime":2413.84,"endTime":2417.18,"body":"that could be good and blah,"},{"speaker":"REID HOLZWORTH","startTime":2413.84,"endTime":2417.18,"body":"blah, blah, blah, blah, blah."},{"speaker":"REID HOLZWORTH","startTime":2417.18,"endTime":2420.74,"body":"It's almost complacency."},{"speaker":"REID HOLZWORTH","startTime":2420.74,"endTime":2421.58,"body":"Is that fair to say?"},{"speaker":"REID HOLZWORTH","startTime":2421.58,"endTime":2423.398,"body":"Get after what's good."},{"speaker":"REID HOLZWORTH","startTime":2423.398,"endTime":2424.19,"body":"Don't get me wrong."},{"speaker":"REID HOLZWORTH","startTime":2424.19,"endTime":2428.27,"body":"There's other opportunities."},{"speaker":"JESSE WEDLER","startTime":2428.27,"endTime":2430.7,"body":"I think"},{"speaker":"JESSE WEDLER","startTime":2428.27,"endTime":2430.7,"body":"that's a good summarization."},{"speaker":"JESSE WEDLER","startTime":2430.7,"endTime":2433.195,"body":"The best pitches"},{"speaker":"JESSE WEDLER","startTime":2430.7,"endTime":2433.195,"body":"that we hear are,"},{"speaker":"JESSE WEDLER","startTime":2433.195,"endTime":2434.57,"body":"we're doing"},{"speaker":"JESSE WEDLER","startTime":2433.195,"endTime":2434.57,"body":"something really well"},{"speaker":"JESSE WEDLER","startTime":2434.57,"endTime":2435.987,"body":"and look at how"},{"speaker":"JESSE WEDLER","startTime":2434.57,"endTime":2435.987,"body":"well it's working,"},{"speaker":"JESSE WEDLER","startTime":2435.987,"endTime":2438.392,"body":"not we're going to go"},{"speaker":"JESSE WEDLER","startTime":2435.987,"endTime":2438.392,"body":"do five different things"},{"speaker":"JESSE WEDLER","startTime":2438.392,"endTime":2439.85,"body":"and we've got all"},{"speaker":"JESSE WEDLER","startTime":2438.392,"endTime":2439.85,"body":"this opportunity."},{"speaker":"JESSE WEDLER","startTime":2439.85,"endTime":2442.61,"body":"And a lot of companies try to"},{"speaker":"JESSE WEDLER","startTime":2439.85,"endTime":2442.61,"body":"be platforms when in reality"},{"speaker":"JESSE WEDLER","startTime":2442.61,"endTime":2444.29,"body":"they're point solutions."},{"speaker":"JESSE WEDLER","startTime":2444.29,"endTime":2447.302,"body":"And so you can make"},{"speaker":"JESSE WEDLER","startTime":2444.29,"endTime":2447.302,"body":"pretty PowerPoint"},{"speaker":"JESSE WEDLER","startTime":2447.302,"endTime":2449.51,"body":"and show how you're going"},{"speaker":"JESSE WEDLER","startTime":2447.302,"endTime":2449.51,"body":"to be some platform and all"},{"speaker":"JESSE WEDLER","startTime":2449.51,"endTime":2451.76,"body":"these flywheels and"},{"speaker":"JESSE WEDLER","startTime":2449.51,"endTime":2451.76,"body":"interconnectedness,"},{"speaker":"JESSE WEDLER","startTime":2451.76,"endTime":2453.498,"body":"but just show me"},{"speaker":"JESSE WEDLER","startTime":2451.76,"endTime":2453.498,"body":"the one thing you're"},{"speaker":"JESSE WEDLER","startTime":2453.498,"endTime":2455.54,"body":"great at that you're going"},{"speaker":"JESSE WEDLER","startTime":2453.498,"endTime":2455.54,"body":"to keep being great at"},{"speaker":"JESSE WEDLER","startTime":2455.54,"endTime":2457.2,"body":"and why that's a"},{"speaker":"JESSE WEDLER","startTime":2455.54,"endTime":2457.2,"body":"big opportunity."},{"speaker":"JESSE WEDLER","startTime":2457.2,"endTime":2459.68,"body":"And if we get big"},{"speaker":"JESSE WEDLER","startTime":2457.2,"endTime":2459.68,"body":"with that then there's"},{"speaker":"JESSE WEDLER","startTime":2459.68,"endTime":2461.81,"body":"going to be adjacent"},{"speaker":"JESSE WEDLER","startTime":2459.68,"endTime":2461.81,"body":"opportunities that come up."},{"speaker":"REID HOLZWORTH","startTime":2461.81,"endTime":2463.227,"body":"What opportunities"},{"speaker":"REID HOLZWORTH","startTime":2463.227,"endTime":2465.86,"body":"do you see through"},{"speaker":"REID HOLZWORTH","startTime":2463.227,"endTime":2465.86,"body":"your lens, Jesse?"},{"speaker":"JESSE WEDLER","startTime":2465.86,"endTime":2468.235,"body":"So outside of"},{"speaker":"JESSE WEDLER","startTime":2465.86,"endTime":2468.235,"body":"just the different technology"},{"speaker":"JESSE WEDLER","startTime":2468.235,"endTime":2469.693,"body":"components like"},{"speaker":"JESSE WEDLER","startTime":2468.235,"endTime":2469.693,"body":"we've talked about,"},{"speaker":"JESSE WEDLER","startTime":2469.693,"endTime":2471.83,"body":"I think the other"},{"speaker":"JESSE WEDLER","startTime":2469.693,"endTime":2471.83,"body":"interesting question is, what"},{"speaker":"JESSE WEDLER","startTime":2471.83,"endTime":2473.898,"body":"are the verticals where"},{"speaker":"JESSE WEDLER","startTime":2471.83,"endTime":2473.898,"body":"there's big opportunity,"},{"speaker":"JESSE WEDLER","startTime":2473.898,"endTime":2475.94,"body":"where they're either"},{"speaker":"JESSE WEDLER","startTime":2473.898,"endTime":2475.94,"body":"underserved or they're still"},{"speaker":"JESSE WEDLER","startTime":2475.94,"endTime":2477.2,"body":"emerging verticals."},{"speaker":"JESSE WEDLER","startTime":2477.2,"endTime":2479.54,"body":"And so I would put"},{"speaker":"JESSE WEDLER","startTime":2477.2,"endTime":2479.54,"body":"small commercial"},{"speaker":"JESSE WEDLER","startTime":2479.54,"endTime":2481.64,"body":"under that, large existing"},{"speaker":"JESSE WEDLER","startTime":2479.54,"endTime":2481.64,"body":"opportunity that's"},{"speaker":"JESSE WEDLER","startTime":2481.64,"endTime":2482.99,"body":"underserved today."},{"speaker":"JESSE WEDLER","startTime":2482.99,"endTime":2485.21,"body":"I would say"},{"speaker":"JESSE WEDLER","startTime":2482.99,"endTime":2485.21,"body":"something like cyber,"},{"speaker":"JESSE WEDLER","startTime":2485.21,"endTime":2487.77,"body":"we're seeing several companies"},{"speaker":"JESSE WEDLER","startTime":2485.21,"endTime":2487.77,"body":"doing really well there."},{"speaker":"JESSE WEDLER","startTime":2487.77,"endTime":2489.33,"body":"And the incumbents are"},{"speaker":"JESSE WEDLER","startTime":2487.77,"endTime":2489.33,"body":"doing pretty well too."},{"speaker":"JESSE WEDLER","startTime":2489.33,"endTime":2490.705,"body":"But there's going"},{"speaker":"JESSE WEDLER","startTime":2489.33,"endTime":2490.705,"body":"to be, I think,"},{"speaker":"JESSE WEDLER","startTime":2490.705,"endTime":2494.39,"body":"a lot of growth in just"},{"speaker":"JESSE WEDLER","startTime":2490.705,"endTime":2494.39,"body":"the size of that market"},{"speaker":"JESSE WEDLER","startTime":2494.39,"endTime":2496.31,"body":"and a lot of"},{"speaker":"JESSE WEDLER","startTime":2494.39,"endTime":2496.31,"body":"opportunity for people"},{"speaker":"JESSE WEDLER","startTime":2496.31,"endTime":2499.68,"body":"to get good at that for specific"},{"speaker":"JESSE WEDLER","startTime":2496.31,"endTime":2499.68,"body":"segments and how they serve it."},{"speaker":"JESSE WEDLER","startTime":2499.68,"endTime":2503.03,"body":"And then there's also"},{"speaker":"JESSE WEDLER","startTime":2499.68,"endTime":2503.03,"body":"interesting new verticals like,"},{"speaker":"JESSE WEDLER","startTime":2503.03,"endTime":2504.655,"body":"think about covering California."},{"speaker":"JESSE WEDLER","startTime":2504.655,"endTime":2506.03,"body":"There's companies"},{"speaker":"JESSE WEDLER","startTime":2504.655,"endTime":2506.03,"body":"that are trying"},{"speaker":"JESSE WEDLER","startTime":2506.03,"endTime":2508.7,"body":"to focus just on California"},{"speaker":"JESSE WEDLER","startTime":2506.03,"endTime":2508.7,"body":"wildfire, a company like Kettle"},{"speaker":"JESSE WEDLER","startTime":2508.7,"endTime":2509.85,"body":"and others."},{"speaker":"JESSE WEDLER","startTime":2509.85,"endTime":2512.97,"body":"And so that to us is where we"},{"speaker":"JESSE WEDLER","startTime":2509.85,"endTime":2512.97,"body":"see most of the innovation."},{"speaker":"JESSE WEDLER","startTime":2512.97,"endTime":2516.17,"body":"I think going after personal"},{"speaker":"JESSE WEDLER","startTime":2512.97,"endTime":2516.17,"body":"lines with an MGA approach"},{"speaker":"JESSE WEDLER","startTime":2516.17,"endTime":2517.17,"body":"feels hard."},{"speaker":"JESSE WEDLER","startTime":2517.17,"endTime":2518.87,"body":"And so it's harder"},{"speaker":"JESSE WEDLER","startTime":2517.17,"endTime":2518.87,"body":"to serve verticals"},{"speaker":"JESSE WEDLER","startTime":2518.87,"endTime":2521.81,"body":"where we're seeing a lot"},{"speaker":"JESSE WEDLER","startTime":2518.87,"endTime":2521.81,"body":"of smart teams focus on it."},{"speaker":"JESSE WEDLER","startTime":2521.81,"endTime":2523.968,"body":"And I think we'll"},{"speaker":"JESSE WEDLER","startTime":2521.81,"endTime":2523.968,"body":"see more from there."},{"speaker":"REID HOLZWORTH","startTime":2523.968,"endTime":2526.26,"body":"It's interesting"},{"speaker":"REID HOLZWORTH","startTime":2523.968,"endTime":2526.26,"body":"to hear from your lens"},{"speaker":"REID HOLZWORTH","startTime":2526.26,"endTime":2530.04,"body":"when you say small"},{"speaker":"REID HOLZWORTH","startTime":2526.26,"endTime":2530.04,"body":"commercial, cyber,"},{"speaker":"REID HOLZWORTH","startTime":2530.04,"endTime":2532.68,"body":"you're looking at"},{"speaker":"REID HOLZWORTH","startTime":2530.04,"endTime":2532.68,"body":"it in that way."},{"speaker":"REID HOLZWORTH","startTime":2532.68,"endTime":2534.48,"body":"That's interesting."},{"speaker":"REID HOLZWORTH","startTime":2534.48,"endTime":2537.307,"body":"It's wiedzy in a way."},{"speaker":"JESSE WEDLER","startTime":2537.307,"endTime":2538.89,"body":"It's"},{"speaker":"JESSE WEDLER","startTime":2537.307,"endTime":2538.89,"body":"wiedzy, but I think"},{"speaker":"JESSE WEDLER","startTime":2538.89,"endTime":2542.58,"body":"that's back to the"},{"speaker":"JESSE WEDLER","startTime":2538.89,"endTime":2542.58,"body":"whole point on focus is,"},{"speaker":"JESSE WEDLER","startTime":2542.58,"endTime":2545.88,"body":"if you're trying to take"},{"speaker":"JESSE WEDLER","startTime":2542.58,"endTime":2545.88,"body":"on an eventual carrier type"},{"speaker":"JESSE WEDLER","startTime":2545.88,"endTime":2548.952,"body":"model starting MGA--"},{"speaker":"JESSE WEDLER","startTime":2548.952,"endTime":2550.41,"body":"what I don't want"},{"speaker":"JESSE WEDLER","startTime":2548.952,"endTime":2550.41,"body":"to hear is a team"},{"speaker":"JESSE WEDLER","startTime":2550.41,"endTime":2552.868,"body":"that says we're going to go"},{"speaker":"JESSE WEDLER","startTime":2550.41,"endTime":2552.868,"body":"after all these different lines"},{"speaker":"JESSE WEDLER","startTime":2552.868,"endTime":2555.78,"body":"and we just have a really good"},{"speaker":"JESSE WEDLER","startTime":2552.868,"endTime":2555.78,"body":"Google AdWords acquisition"},{"speaker":"JESSE WEDLER","startTime":2555.78,"endTime":2558.45,"body":"strategy for acquiring"},{"speaker":"JESSE WEDLER","startTime":2555.78,"endTime":2558.45,"body":"new customers."},{"speaker":"JESSE WEDLER","startTime":2558.45,"endTime":2559.92,"body":"That's not going to scale."},{"speaker":"JESSE WEDLER","startTime":2559.92,"endTime":2562.14,"body":"Show me the loss"},{"speaker":"JESSE WEDLER","startTime":2559.92,"endTime":2562.14,"body":"ratios and show me"},{"speaker":"JESSE WEDLER","startTime":2562.14,"endTime":2564.63,"body":"you've gotten great at"},{"speaker":"JESSE WEDLER","startTime":2562.14,"endTime":2564.63,"body":"underwriting a specific line"},{"speaker":"JESSE WEDLER","startTime":2564.63,"endTime":2567.24,"body":"and that you know how to do"},{"speaker":"JESSE WEDLER","startTime":2564.63,"endTime":2567.24,"body":"it and then we'll figure out"},{"speaker":"JESSE WEDLER","startTime":2567.24,"endTime":2569.58,"body":"growing distribution."},{"speaker":"JESSE WEDLER","startTime":2569.58,"endTime":2572.597,"body":"I start by saying, what are the"},{"speaker":"JESSE WEDLER","startTime":2569.58,"endTime":2572.597,"body":"big potential verticals that I"},{"speaker":"JESSE WEDLER","startTime":2572.597,"endTime":2574.68,"body":"could get excited about"},{"speaker":"JESSE WEDLER","startTime":2572.597,"endTime":2574.68,"body":"where there's enough there"},{"speaker":"JESSE WEDLER","startTime":2574.68,"endTime":2578.37,"body":"and it's not overly competed"},{"speaker":"JESSE WEDLER","startTime":2574.68,"endTime":2578.37,"body":"by the incumbents today."},{"speaker":"JESSE WEDLER","startTime":2578.37,"endTime":2581.458,"body":"And that's where I think there's"},{"speaker":"JESSE WEDLER","startTime":2578.37,"endTime":2581.458,"body":"opportunity to build business."},{"speaker":"REID HOLZWORTH","startTime":2581.458,"endTime":2583.5,"body":"And it's"},{"speaker":"REID HOLZWORTH","startTime":2581.458,"endTime":2583.5,"body":"funny because everything"},{"speaker":"REID HOLZWORTH","startTime":2583.5,"endTime":2585.66,"body":"small commercial is"},{"speaker":"REID HOLZWORTH","startTime":2583.5,"endTime":2585.66,"body":"just on fire right now."},{"speaker":"REID HOLZWORTH","startTime":2585.66,"endTime":2587.34,"body":"It's super hot."},{"speaker":"REID HOLZWORTH","startTime":2587.34,"endTime":2589.77,"body":"That's the stuff"},{"speaker":"REID HOLZWORTH","startTime":2587.34,"endTime":2589.77,"body":"that's-- but to be fair,"},{"speaker":"REID HOLZWORTH","startTime":2589.77,"endTime":2590.798,"body":"it's been out for a bit."},{"speaker":"REID HOLZWORTH","startTime":2590.798,"endTime":2592.84,"body":"People have been trying"},{"speaker":"REID HOLZWORTH","startTime":2590.798,"endTime":2592.84,"body":"to solve small commercial"},{"speaker":"REID HOLZWORTH","startTime":2592.84,"endTime":2594.04,"body":"in a lot of different ways."},{"speaker":"JESSE WEDLER","startTime":2594.04,"endTime":2595.207,"body":"And it's hard."},{"speaker":"JESSE WEDLER","startTime":2595.207,"endTime":2597.99,"body":"And I like those gritty markets"},{"speaker":"JESSE WEDLER","startTime":2595.207,"endTime":2597.99,"body":"because in the gritty markets"},{"speaker":"JESSE WEDLER","startTime":2597.99,"endTime":2599.448,"body":"if you find a team"},{"speaker":"JESSE WEDLER","startTime":2597.99,"endTime":2599.448,"body":"that understands"},{"speaker":"JESSE WEDLER","startTime":2599.448,"endTime":2601.83,"body":"how to do it and do"},{"speaker":"JESSE WEDLER","startTime":2599.448,"endTime":2601.83,"body":"it well, that's where"},{"speaker":"JESSE WEDLER","startTime":2601.83,"endTime":2605.08,"body":"you've got opportunity."},{"speaker":"REID HOLZWORTH","startTime":2605.08,"endTime":2606.748,"body":"That's awesome."},{"speaker":"REID HOLZWORTH","startTime":2606.748,"endTime":2608.29,"body":"What else, Jesse,"},{"speaker":"REID HOLZWORTH","startTime":2606.748,"endTime":2608.29,"body":"what else would you"},{"speaker":"REID HOLZWORTH","startTime":2608.29,"endTime":2610.528,"body":"like the listeners to know?"},{"speaker":"JESSE WEDLER","startTime":2610.528,"endTime":2612.07,"body":"The"},{"speaker":"JESSE WEDLER","startTime":2610.528,"endTime":2612.07,"body":"other trend that we"},{"speaker":"JESSE WEDLER","startTime":2612.07,"endTime":2615.34,"body":"talked about briefly that"},{"speaker":"JESSE WEDLER","startTime":2612.07,"endTime":2615.34,"body":"we expect will see is M\u0026A."},{"speaker":"JESSE WEDLER","startTime":2615.34,"endTime":2617.11,"body":"And because there's"},{"speaker":"JESSE WEDLER","startTime":2615.34,"endTime":2617.11,"body":"so many companies that"},{"speaker":"JESSE WEDLER","startTime":2617.11,"endTime":2620.41,"body":"were started over the last 5,"},{"speaker":"JESSE WEDLER","startTime":2617.11,"endTime":2620.41,"body":"10 years and the funding spigot"},{"speaker":"JESSE WEDLER","startTime":2620.41,"endTime":2624.07,"body":"from Silicon Valley is off,"},{"speaker":"JESSE WEDLER","startTime":2620.41,"endTime":2624.07,"body":"only the companies with the best"},{"speaker":"JESSE WEDLER","startTime":2624.07,"endTime":2626.615,"body":"business models are going"},{"speaker":"JESSE WEDLER","startTime":2624.07,"endTime":2626.615,"body":"to have access to capital."},{"speaker":"JESSE WEDLER","startTime":2626.615,"endTime":2628.99,"body":"Even though there's a lot of"},{"speaker":"JESSE WEDLER","startTime":2626.615,"endTime":2628.99,"body":"capital on the sides looking"},{"speaker":"JESSE WEDLER","startTime":2628.99,"endTime":2631.39,"body":"to invest, there's"},{"speaker":"JESSE WEDLER","startTime":2628.99,"endTime":2631.39,"body":"a lot of discretion"},{"speaker":"JESSE WEDLER","startTime":2631.39,"endTime":2632.75,"body":"in terms of who gets funding."},{"speaker":"JESSE WEDLER","startTime":2632.75,"endTime":2635.252,"body":"And so I think you'll see a"},{"speaker":"JESSE WEDLER","startTime":2632.75,"endTime":2635.252,"body":"lot of M\u0026A of good products"},{"speaker":"JESSE WEDLER","startTime":2635.252,"endTime":2637.21,"body":"that maybe didn't have"},{"speaker":"JESSE WEDLER","startTime":2635.252,"endTime":2637.21,"body":"big businesses built yet"},{"speaker":"JESSE WEDLER","startTime":2637.21,"endTime":2640.18,"body":"that start getting"},{"speaker":"JESSE WEDLER","startTime":2637.21,"endTime":2640.18,"body":"picked up because teams"},{"speaker":"JESSE WEDLER","startTime":2640.18,"endTime":2644.69,"body":"reach a point where it's either"},{"speaker":"JESSE WEDLER","startTime":2640.18,"endTime":2644.69,"body":"sell or go out of business."},{"speaker":"JESSE WEDLER","startTime":2644.69,"endTime":2649.085,"body":"And I think there's a lot"},{"speaker":"JESSE WEDLER","startTime":2644.69,"endTime":2649.085,"body":"of decent M\u0026A to be done."},{"speaker":"REID HOLZWORTH","startTime":2649.085,"endTime":2650.46,"body":"What are you what"},{"speaker":"REID HOLZWORTH","startTime":2650.46,"endTime":2653.04,"body":"are your thoughts on"},{"speaker":"REID HOLZWORTH","startTime":2650.46,"endTime":2653.04,"body":"the spigot, if you will?"},{"speaker":"REID HOLZWORTH","startTime":2653.04,"endTime":2655.71,"body":"When do you foresee"},{"speaker":"REID HOLZWORTH","startTime":2653.04,"endTime":2655.71,"body":"that starting"},{"speaker":"REID HOLZWORTH","startTime":2655.71,"endTime":2658.135,"body":"to turn back on or do you"},{"speaker":"REID HOLZWORTH","startTime":2655.71,"endTime":2658.135,"body":"see it even turning back on?"},{"speaker":"JESSE WEDLER","startTime":2658.135,"endTime":2659.76,"body":"Yeah,"},{"speaker":"JESSE WEDLER","startTime":2658.135,"endTime":2659.76,"body":"it's so interesting"},{"speaker":"JESSE WEDLER","startTime":2659.76,"endTime":2662.49,"body":"because there's so much"},{"speaker":"JESSE WEDLER","startTime":2659.76,"endTime":2662.49,"body":"committed capital to venture"},{"speaker":"JESSE WEDLER","startTime":2662.49,"endTime":2663.99,"body":"and private equity funds."},{"speaker":"JESSE WEDLER","startTime":2663.99,"endTime":2666.78,"body":"There's a lot of capital"},{"speaker":"JESSE WEDLER","startTime":2663.99,"endTime":2666.78,"body":"available to be deployed"},{"speaker":"JESSE WEDLER","startTime":2666.78,"endTime":2669.24,"body":"but just a lot of"},{"speaker":"JESSE WEDLER","startTime":2666.78,"endTime":2669.24,"body":"caution in terms of,"},{"speaker":"JESSE WEDLER","startTime":2669.24,"endTime":2671.312,"body":"are things going to"},{"speaker":"JESSE WEDLER","startTime":2669.24,"endTime":2671.312,"body":"get worse in the macro?"},{"speaker":"JESSE WEDLER","startTime":2671.312,"endTime":2673.77,"body":"Are things going to get worse"},{"speaker":"JESSE WEDLER","startTime":2671.312,"endTime":2673.77,"body":"from a valuation perspective?"},{"speaker":"JESSE WEDLER","startTime":2673.77,"endTime":2675.15,"body":"Everyone's focused on the rates."},{"speaker":"JESSE WEDLER","startTime":2675.15,"endTime":2678.42,"body":"I think as soon as we have"},{"speaker":"JESSE WEDLER","startTime":2675.15,"endTime":2678.42,"body":"certainty over what the rate"},{"speaker":"JESSE WEDLER","startTime":2678.42,"endTime":2680.04,"body":"environment is"},{"speaker":"JESSE WEDLER","startTime":2678.42,"endTime":2680.04,"body":"going to be and then"},{"speaker":"JESSE WEDLER","startTime":2680.04,"endTime":2681.75,"body":"the public markets"},{"speaker":"JESSE WEDLER","startTime":2680.04,"endTime":2681.75,"body":"will have certainty"},{"speaker":"JESSE WEDLER","startTime":2681.75,"endTime":2683.73,"body":"over what valuations"},{"speaker":"JESSE WEDLER","startTime":2681.75,"endTime":2683.73,"body":"should be and that'll"},{"speaker":"JESSE WEDLER","startTime":2683.73,"endTime":2686.56,"body":"trickle down into the venture"},{"speaker":"JESSE WEDLER","startTime":2683.73,"endTime":2686.56,"body":"and private equity markets."},{"speaker":"JESSE WEDLER","startTime":2686.56,"endTime":2688.56,"body":"But right now it's"},{"speaker":"JESSE WEDLER","startTime":2686.56,"endTime":2688.56,"body":"like, shoot, are we"},{"speaker":"JESSE WEDLER","startTime":2688.56,"endTime":2691.02,"body":"going to have more rate hikes"},{"speaker":"JESSE WEDLER","startTime":2688.56,"endTime":2691.02,"body":"and more of a recession?"},{"speaker":"JESSE WEDLER","startTime":2691.02,"endTime":2691.86,"body":"Are we going to stabilize?"},{"speaker":"JESSE WEDLER","startTime":2691.86,"endTime":2692.943,"body":"Are we going to cut rates?"},{"speaker":"JESSE WEDLER","startTime":2692.943,"endTime":2694.65,"body":"And that uncertainty"},{"speaker":"JESSE WEDLER","startTime":2692.943,"endTime":2694.65,"body":"creates this bid"},{"speaker":"JESSE WEDLER","startTime":2694.65,"endTime":2696.57,"body":"ask spread between"},{"speaker":"JESSE WEDLER","startTime":2694.65,"endTime":2696.57,"body":"companies looking"},{"speaker":"JESSE WEDLER","startTime":2696.57,"endTime":2698.29,"body":"to raise money and investors."},{"speaker":"JESSE WEDLER","startTime":2698.29,"endTime":2701.49,"body":"And there's kind"},{"speaker":"JESSE WEDLER","startTime":2698.29,"endTime":2701.49,"body":"of this standoff."},{"speaker":"JESSE WEDLER","startTime":2701.49,"endTime":2705.36,"body":"I know the spigots"},{"speaker":"JESSE WEDLER","startTime":2701.49,"endTime":2705.36,"body":"will turn back on,"},{"speaker":"JESSE WEDLER","startTime":2705.36,"endTime":2710.62,"body":"but it could be several"},{"speaker":"JESSE WEDLER","startTime":2705.36,"endTime":2710.62,"body":"months or into next year."},{"speaker":"REID HOLZWORTH","startTime":2710.62,"endTime":2712.157,"body":"What do you think?"},{"speaker":"REID HOLZWORTH","startTime":2712.157,"endTime":2713.74,"body":"I'm going to put you"},{"speaker":"REID HOLZWORTH","startTime":2712.157,"endTime":2713.74,"body":"on the spot here."},{"speaker":"REID HOLZWORTH","startTime":2713.74,"endTime":2714.88,"body":"What are your thoughts?"},{"speaker":"JESSE WEDLER","startTime":2714.88,"endTime":2716.26,"body":"I think"},{"speaker":"JESSE WEDLER","startTime":2714.88,"endTime":2716.26,"body":"you're not going to see much"},{"speaker":"JESSE WEDLER","startTime":2716.26,"endTime":2717.68,"body":"for the next six months."},{"speaker":"JESSE WEDLER","startTime":2717.68,"endTime":2719.98,"body":"I think it's going to"},{"speaker":"JESSE WEDLER","startTime":2717.68,"endTime":2719.98,"body":"feel more of like what"},{"speaker":"JESSE WEDLER","startTime":2719.98,"endTime":2721.3,"body":"we're experiencing right now."},{"speaker":"JESSE WEDLER","startTime":2721.3,"endTime":2723.82,"body":"And then after you get"},{"speaker":"JESSE WEDLER","startTime":2721.3,"endTime":2723.82,"body":"in deeper into '24,"},{"speaker":"JESSE WEDLER","startTime":2723.82,"endTime":2726.34,"body":"I think we'll see rate"},{"speaker":"JESSE WEDLER","startTime":2723.82,"endTime":2726.34,"body":"stabilization by then."},{"speaker":"JESSE WEDLER","startTime":2726.34,"endTime":2728.29,"body":"We'll have more confidence"},{"speaker":"JESSE WEDLER","startTime":2726.34,"endTime":2728.29,"body":"in what the macro"},{"speaker":"JESSE WEDLER","startTime":2728.29,"endTime":2729.43,"body":"economy is going to be."},{"speaker":"JESSE WEDLER","startTime":2729.43,"endTime":2730.93,"body":"And then you'll see"},{"speaker":"JESSE WEDLER","startTime":2729.43,"endTime":2730.93,"body":"more of a cycle."},{"speaker":"JESSE WEDLER","startTime":2730.93,"endTime":2734.08,"body":"It might not be at prices"},{"speaker":"JESSE WEDLER","startTime":2730.93,"endTime":2734.08,"body":"that entrepreneurs like."},{"speaker":"JESSE WEDLER","startTime":2734.08,"endTime":2736.75,"body":"It might still feel"},{"speaker":"JESSE WEDLER","startTime":2734.08,"endTime":2736.75,"body":"expensive to investors."},{"speaker":"JESSE WEDLER","startTime":2736.75,"endTime":2739.72,"body":"But I think when there's more"},{"speaker":"JESSE WEDLER","startTime":2736.75,"endTime":2739.72,"body":"of that consistency and just"},{"speaker":"JESSE WEDLER","startTime":2739.72,"endTime":2742.21,"body":"predictability of what"},{"speaker":"JESSE WEDLER","startTime":2739.72,"endTime":2742.21,"body":"the near-term future looks"},{"speaker":"JESSE WEDLER","startTime":2742.21,"endTime":2744.28,"body":"like, then you'll"},{"speaker":"JESSE WEDLER","startTime":2742.21,"endTime":2744.28,"body":"see more activity."},{"speaker":"JESSE WEDLER","startTime":2744.28,"endTime":2746.26,"body":"Because you think about"},{"speaker":"JESSE WEDLER","startTime":2744.28,"endTime":2746.26,"body":"it in, these funds"},{"speaker":"JESSE WEDLER","startTime":2746.26,"endTime":2748.03,"body":"have all raised all this money."},{"speaker":"JESSE WEDLER","startTime":2748.03,"endTime":2749.203,"body":"It's committed from LPs."},{"speaker":"JESSE WEDLER","startTime":2749.203,"endTime":2750.37,"body":"They want to be in business."},{"speaker":"JESSE WEDLER","startTime":2750.37,"endTime":2752.14,"body":"They don't want to sit"},{"speaker":"JESSE WEDLER","startTime":2750.37,"endTime":2752.14,"body":"on the sidelines forever."},{"speaker":"JESSE WEDLER","startTime":2752.14,"endTime":2754.54,"body":"They need to go deploy capital,"},{"speaker":"JESSE WEDLER","startTime":2752.14,"endTime":2754.54,"body":"so they have a business"},{"speaker":"JESSE WEDLER","startTime":2754.54,"endTime":2757.57,"body":"to keep raising new funds."},{"speaker":"JESSE WEDLER","startTime":2757.57,"endTime":2759.573,"body":"So they're going to"},{"speaker":"JESSE WEDLER","startTime":2757.57,"endTime":2759.573,"body":"find ways to do it."},{"speaker":"JESSE WEDLER","startTime":2759.573,"endTime":2760.99,"body":"And in the near"},{"speaker":"JESSE WEDLER","startTime":2759.573,"endTime":2760.99,"body":"term, they're just"},{"speaker":"JESSE WEDLER","startTime":2760.99,"endTime":2763.11,"body":"going to be highly selective"},{"speaker":"JESSE WEDLER","startTime":2760.99,"endTime":2763.11,"body":"over the businesses"},{"speaker":"JESSE WEDLER","startTime":2763.11,"endTime":2766.18,"body":"that they do fund."},{"speaker":"REID HOLZWORTH","startTime":2766.18,"endTime":2768.0,"body":"That's awesome."},{"speaker":"REID HOLZWORTH","startTime":2768.0,"endTime":2769.238,"body":"Thank you for that."},{"speaker":"JESSE WEDLER","startTime":2769.238,"endTime":2771.78,"body":"I think that'll"},{"speaker":"JESSE WEDLER","startTime":2769.238,"endTime":2771.78,"body":"probably be the biggest threat."},{"speaker":"JESSE WEDLER","startTime":2771.78,"endTime":2773.52,"body":"AI will be the hype."},{"speaker":"JESSE WEDLER","startTime":2773.52,"endTime":2775.897,"body":"The M\u0026A will be"},{"speaker":"JESSE WEDLER","startTime":2773.52,"endTime":2775.897,"body":"the most real trend"},{"speaker":"JESSE WEDLER","startTime":2775.897,"endTime":2777.105,"body":"in the next six, nine months."},{"speaker":"REID HOLZWORTH","startTime":2780.333,"endTime":2782.25,"body":"We've"},{"speaker":"REID HOLZWORTH","startTime":2780.333,"endTime":2782.25,"body":"looked at a lot of stuff"},{"speaker":"REID HOLZWORTH","startTime":2782.25,"endTime":2784.14,"body":"and there's not a lot"},{"speaker":"REID HOLZWORTH","startTime":2782.25,"endTime":2784.14,"body":"out there from what"},{"speaker":"REID HOLZWORTH","startTime":2784.14,"endTime":2785.915,"body":"we've seen from our side."},{"speaker":"JESSE WEDLER","startTime":2785.915,"endTime":2787.29,"body":"I"},{"speaker":"JESSE WEDLER","startTime":2785.915,"endTime":2787.29,"body":"think there'll be"},{"speaker":"JESSE WEDLER","startTime":2787.29,"endTime":2790.86,"body":"a lot of smaller companies where"},{"speaker":"JESSE WEDLER","startTime":2787.29,"endTime":2790.86,"body":"it's like, it's a few people."},{"speaker":"JESSE WEDLER","startTime":2790.86,"endTime":2793.29,"body":"They couldn't really raise"},{"speaker":"JESSE WEDLER","startTime":2790.86,"endTime":2793.29,"body":"that series A. You're like, oh,"},{"speaker":"JESSE WEDLER","startTime":2793.29,"endTime":2794.76,"body":"that's a nice little tuck in."},{"speaker":"JESSE WEDLER","startTime":2794.76,"endTime":2798.18,"body":"There's not a lot of like, wow,"},{"speaker":"JESSE WEDLER","startTime":2794.76,"endTime":2798.18,"body":"this is a really good business."},{"speaker":"JESSE WEDLER","startTime":2798.18,"endTime":2800.64,"body":"There are some good businesses,"},{"speaker":"JESSE WEDLER","startTime":2798.18,"endTime":2800.64,"body":"and they will eventually"},{"speaker":"JESSE WEDLER","startTime":2800.64,"endTime":2803.91,"body":"be willing to transact at"},{"speaker":"JESSE WEDLER","startTime":2800.64,"endTime":2803.91,"body":"a price that makes sense"},{"speaker":"JESSE WEDLER","startTime":2803.91,"endTime":2804.952,"body":"to everyone."},{"speaker":"REID HOLZWORTH","startTime":2804.952,"endTime":2806.16,"body":"That's great."},{"speaker":"REID HOLZWORTH","startTime":2806.16,"endTime":2808.44,"body":"That's great advice, so good."},{"speaker":"REID HOLZWORTH","startTime":2808.44,"endTime":2812.1,"body":"A lot of people really, really"},{"speaker":"REID HOLZWORTH","startTime":2808.44,"endTime":2812.1,"body":"appreciate that, no doubt."},{"speaker":"REID HOLZWORTH","startTime":2812.1,"endTime":2815.04,"body":"So a couple more questions."},{"speaker":"REID HOLZWORTH","startTime":2815.04,"endTime":2818.55,"body":"In your opinion, what"},{"speaker":"REID HOLZWORTH","startTime":2815.04,"endTime":2818.55,"body":"insurance tech influencer"},{"speaker":"REID HOLZWORTH","startTime":2818.55,"endTime":2821.467,"body":"should I talk to"},{"speaker":"REID HOLZWORTH","startTime":2818.55,"endTime":2821.467,"body":"next on the show?"},{"speaker":"JESSE WEDLER","startTime":2821.467,"endTime":2823.3,"body":"Well, two"},{"speaker":"JESSE WEDLER","startTime":2821.467,"endTime":2823.3,"body":"people come to mind."},{"speaker":"JESSE WEDLER","startTime":2823.3,"endTime":2824.91,"body":"First of all, I would"},{"speaker":"JESSE WEDLER","startTime":2823.3,"endTime":2824.91,"body":"say Nick Zerbib,"},{"speaker":"JESSE WEDLER","startTime":2824.91,"endTime":2826.077,"body":"our friend from Stone Point."},{"speaker":"REID HOLZWORTH","startTime":2826.077,"endTime":2827.66,"body":"He's"},{"speaker":"REID HOLZWORTH","startTime":2826.077,"endTime":2827.66,"body":"already lined up."},{"speaker":"REID HOLZWORTH","startTime":2827.66,"endTime":2828.45,"body":"He's coming on."},{"speaker":"JESSE WEDLER","startTime":2828.45,"endTime":2829.32,"body":"Great."},{"speaker":"JESSE WEDLER","startTime":2829.32,"endTime":2832.11,"body":"Nick's fantastic, knows"},{"speaker":"JESSE WEDLER","startTime":2829.32,"endTime":2832.11,"body":"the industry better"},{"speaker":"JESSE WEDLER","startTime":2832.11,"endTime":2834.0,"body":"than anyone I know."},{"speaker":"REID HOLZWORTH","startTime":2834.0,"endTime":2835.792,"body":"He"},{"speaker":"REID HOLZWORTH","startTime":2834.0,"endTime":2835.792,"body":"knows it inside and out."},{"speaker":"JESSE WEDLER","startTime":2835.792,"endTime":2837.167,"body":"And"},{"speaker":"JESSE WEDLER","startTime":2835.792,"endTime":2837.167,"body":"whenever I have"},{"speaker":"JESSE WEDLER","startTime":2837.167,"endTime":2839.62,"body":"a question about how some"},{"speaker":"JESSE WEDLER","startTime":2837.167,"endTime":2839.62,"body":"relationship or how something"},{"speaker":"JESSE WEDLER","startTime":2839.62,"endTime":2841.047,"body":"works, he's studied it."},{"speaker":"JESSE WEDLER","startTime":2841.047,"endTime":2843.13,"body":"He knows about it, and he"},{"speaker":"JESSE WEDLER","startTime":2841.047,"endTime":2843.13,"body":"invested in some company"},{"speaker":"JESSE WEDLER","startTime":2843.13,"endTime":2844.58,"body":"that did it 10 years ago."},{"speaker":"JESSE WEDLER","startTime":2844.58,"endTime":2845.47,"body":"He's wonderful."},{"speaker":"JESSE WEDLER","startTime":2845.47,"endTime":2847.57,"body":"And the other person I"},{"speaker":"JESSE WEDLER","startTime":2845.47,"endTime":2847.57,"body":"would say is Guy Goldstein."},{"speaker":"JESSE WEDLER","startTime":2847.57,"endTime":2848.47,"body":"I don't know if Guy."},{"speaker":"JESSE WEDLER","startTime":2848.47,"endTime":2849.88,"body":"He runs Next Insurance."},{"speaker":"REID HOLZWORTH","startTime":2849.88,"endTime":2851.585,"body":"Oh,"},{"speaker":"REID HOLZWORTH","startTime":2849.88,"endTime":2851.585,"body":"yeah, I know Guy."},{"speaker":"JESSE WEDLER","startTime":2851.585,"endTime":2853.96,"body":"They are doing"},{"speaker":"JESSE WEDLER","startTime":2851.585,"endTime":2853.96,"body":"some really impressive stuff"},{"speaker":"JESSE WEDLER","startTime":2853.96,"endTime":2855.04,"body":"around small commercial."},{"speaker":"JESSE WEDLER","startTime":2855.04,"endTime":2855.69,"body":"It's working."},{"speaker":"JESSE WEDLER","startTime":2855.69,"endTime":2858.19,"body":"And I think you'll hear a lot"},{"speaker":"JESSE WEDLER","startTime":2855.69,"endTime":2858.19,"body":"more from them over the course"},{"speaker":"JESSE WEDLER","startTime":2858.19,"endTime":2859.78,"body":"of the next six months, year."},{"speaker":"JESSE WEDLER","startTime":2859.78,"endTime":2861.927,"body":"And think you"},{"speaker":"JESSE WEDLER","startTime":2859.78,"endTime":2861.927,"body":"should talk to Guy."},{"speaker":"REID HOLZWORTH","startTime":2861.927,"endTime":2863.51,"body":"He's"},{"speaker":"REID HOLZWORTH","startTime":2861.927,"endTime":2863.51,"body":"crushing it, man."},{"speaker":"REID HOLZWORTH","startTime":2863.51,"endTime":2864.68,"body":"I do know Guy."},{"speaker":"REID HOLZWORTH","startTime":2864.68,"endTime":2866.89,"body":"I've been on a bunch"},{"speaker":"REID HOLZWORTH","startTime":2864.68,"endTime":2866.89,"body":"of calls with him."},{"speaker":"REID HOLZWORTH","startTime":2866.89,"endTime":2870.56,"body":"And they're making"},{"speaker":"REID HOLZWORTH","startTime":2866.89,"endTime":2870.56,"body":"moves in a major way."},{"speaker":"REID HOLZWORTH","startTime":2870.56,"endTime":2872.048,"body":"That's a good one."},{"speaker":"JESSE WEDLER","startTime":2872.048,"endTime":2874.09,"body":"They're such"},{"speaker":"JESSE WEDLER","startTime":2872.048,"endTime":2874.09,"body":"an interesting example"},{"speaker":"JESSE WEDLER","startTime":2874.09,"endTime":2875.577,"body":"where they start"},{"speaker":"JESSE WEDLER","startTime":2874.09,"endTime":2875.577,"body":"at the same time"},{"speaker":"JESSE WEDLER","startTime":2875.577,"endTime":2877.66,"body":"as Lemonade, Hippo, and"},{"speaker":"JESSE WEDLER","startTime":2875.577,"endTime":2877.66,"body":"all these other companies."},{"speaker":"JESSE WEDLER","startTime":2877.66,"endTime":2879.265,"body":"And they focused"},{"speaker":"JESSE WEDLER","startTime":2877.66,"endTime":2879.265,"body":"on small commercial"},{"speaker":"JESSE WEDLER","startTime":2879.265,"endTime":2881.14,"body":"because they thought it"},{"speaker":"JESSE WEDLER","startTime":2879.265,"endTime":2881.14,"body":"was structurally just"},{"speaker":"JESSE WEDLER","startTime":2881.14,"endTime":2884.59,"body":"a less serve, a more"},{"speaker":"JESSE WEDLER","startTime":2881.14,"endTime":2884.59,"body":"underserved market."},{"speaker":"JESSE WEDLER","startTime":2884.59,"endTime":2886.54,"body":"They knew it was hard"},{"speaker":"JESSE WEDLER","startTime":2884.59,"endTime":2886.54,"body":"to underwrite and hard"},{"speaker":"JESSE WEDLER","startTime":2886.54,"endTime":2887.47,"body":"to make it work."},{"speaker":"JESSE WEDLER","startTime":2887.47,"endTime":2889.72,"body":"They didn't try to"},{"speaker":"JESSE WEDLER","startTime":2887.47,"endTime":2889.72,"body":"grow out of their skis"},{"speaker":"JESSE WEDLER","startTime":2889.72,"endTime":2890.74,"body":"in the first few years."},{"speaker":"JESSE WEDLER","startTime":2890.74,"endTime":2892.42,"body":"They just stayed"},{"speaker":"JESSE WEDLER","startTime":2890.74,"endTime":2892.42,"body":"diligent, focused"},{"speaker":"JESSE WEDLER","startTime":2892.42,"endTime":2895.84,"body":"on automating the underwriting,"},{"speaker":"JESSE WEDLER","startTime":2892.42,"endTime":2895.84,"body":"building a great product,"},{"speaker":"JESSE WEDLER","startTime":2895.84,"endTime":2897.79,"body":"and now it's paying off."},{"speaker":"JESSE WEDLER","startTime":2897.79,"endTime":2899.53,"body":"And now they've got"},{"speaker":"JESSE WEDLER","startTime":2897.79,"endTime":2899.53,"body":"a great product."},{"speaker":"JESSE WEDLER","startTime":2899.53,"endTime":2905.47,"body":"They've got good metrics"},{"speaker":"JESSE WEDLER","startTime":2899.53,"endTime":2905.47,"body":"and big marks to go after."},{"speaker":"REID HOLZWORTH","startTime":2905.47,"endTime":2906.97,"body":"That's awesome, man."},{"speaker":"REID HOLZWORTH","startTime":2906.97,"endTime":2907.63,"body":"Those are good."},{"speaker":"REID HOLZWORTH","startTime":2907.63,"endTime":2908.38,"body":"Those are good."},{"speaker":"REID HOLZWORTH","startTime":2908.38,"endTime":2909.755,"body":"I'll definitely"},{"speaker":"REID HOLZWORTH","startTime":2908.38,"endTime":2909.755,"body":"reach out to Guy."},{"speaker":"REID HOLZWORTH","startTime":2909.755,"endTime":2912.1,"body":"And I'm looking forward"},{"speaker":"REID HOLZWORTH","startTime":2909.755,"endTime":2912.1,"body":"to told Nick Zerbib."},{"speaker":"REID HOLZWORTH","startTime":2912.1,"endTime":2912.94,"body":"I love Nick."},{"speaker":"REID HOLZWORTH","startTime":2912.94,"endTime":2913.91,"body":"He's a good dude."},{"speaker":"REID HOLZWORTH","startTime":2913.91,"endTime":2913.96,"body":"He really is."},{"speaker":"JESSE WEDLER","startTime":2913.96,"endTime":2915.94,"body":"He's got"},{"speaker":"JESSE WEDLER","startTime":2913.96,"endTime":2915.94,"body":"a podcast voice too,"},{"speaker":"JESSE WEDLER","startTime":2915.94,"endTime":2917.41,"body":"that soft buttery voice."},{"speaker":"REID HOLZWORTH","startTime":2917.41,"endTime":2918.41,"body":"Totally."},{"speaker":"JESSE WEDLER","startTime":2920.985,"endTime":2922.36,"body":"And"},{"speaker":"JESSE WEDLER","startTime":2920.985,"endTime":2922.36,"body":"soothing sound,"},{"speaker":"JESSE WEDLER","startTime":2922.36,"endTime":2923.89,"body":"Nick tell me about insurance."},{"speaker":"REID HOLZWORTH","startTime":2926.6,"endTime":2928.6,"body":"All right,"},{"speaker":"REID HOLZWORTH","startTime":2926.6,"endTime":2928.6,"body":"Jesse, last question."},{"speaker":"REID HOLZWORTH","startTime":2928.6,"endTime":2930.32,"body":"What's your drink of choice?"},{"speaker":"REID HOLZWORTH","startTime":2930.32,"endTime":2933.44,"body":"What's your poison,"},{"speaker":"REID HOLZWORTH","startTime":2930.32,"endTime":2933.44,"body":"if you drink?"},{"speaker":"JESSE WEDLER","startTime":2933.44,"endTime":2935.44,"body":"Two drinks"},{"speaker":"JESSE WEDLER","startTime":2933.44,"endTime":2935.44,"body":"of choice, I would say."},{"speaker":"JESSE WEDLER","startTime":2935.44,"endTime":2938.08,"body":"My daily drink would"},{"speaker":"JESSE WEDLER","startTime":2935.44,"endTime":2938.08,"body":"be water with element."},{"speaker":"JESSE WEDLER","startTime":2938.08,"endTime":2942.76,"body":"You ever tried element, the"},{"speaker":"JESSE WEDLER","startTime":2938.08,"endTime":2942.76,"body":"electrolytes, taste amazing."},{"speaker":"JESSE WEDLER","startTime":2942.76,"endTime":2945.73,"body":"Poison of choice would"},{"speaker":"JESSE WEDLER","startTime":2942.76,"endTime":2945.73,"body":"be whiskey, just whiskey"},{"speaker":"JESSE WEDLER","startTime":2945.73,"endTime":2948.34,"body":"neat, maybe some rocks"},{"speaker":"JESSE WEDLER","startTime":2945.73,"endTime":2948.34,"body":"depending on the type,"},{"speaker":"JESSE WEDLER","startTime":2948.34,"endTime":2950.14,"body":"but keep it simple."},{"speaker":"REID HOLZWORTH","startTime":2950.14,"endTime":2951.64,"body":"That's awesome, man."},{"speaker":"REID HOLZWORTH","startTime":2951.64,"endTime":2953.53,"body":"Well, hey, Jesse,"},{"speaker":"REID HOLZWORTH","startTime":2951.64,"endTime":2953.53,"body":"thanks again, man."},{"speaker":"REID HOLZWORTH","startTime":2953.53,"endTime":2955.84,"body":"This has been"},{"speaker":"REID HOLZWORTH","startTime":2953.53,"endTime":2955.84,"body":"really, really great."},{"speaker":"REID HOLZWORTH","startTime":2955.84,"endTime":2957.79,"body":"I appreciate your time."},{"speaker":"JESSE WEDLER","startTime":2957.79,"endTime":2959.27,"body":"Thank you, Reid."},{"speaker":"JESSE WEDLER","startTime":2959.27,"endTime":2962.42,"body":"I appreciate the"},{"speaker":"JESSE WEDLER","startTime":2959.27,"endTime":2962.42,"body":"invite, great to chat."},{"speaker":"JESSE WEDLER","startTime":2962.42,"endTime":2963.41,"body":"Talk soon."},{"speaker":"REID HOLZWORTH","startTime":2963.41,"endTime":2964.493,"body":"All right."},{"speaker":"REID HOLZWORTH","startTime":2964.493,"endTime":2966.09,"body":"Thank you, man."},{"speaker":"REID HOLZWORTH","startTime":2966.09,"endTime":2968.07,"body":"All right, Jesse Wedler folks."},{"speaker":"REID HOLZWORTH","startTime":2968.07,"endTime":2970.02,"body":"What a great episode."},{"speaker":"REID HOLZWORTH","startTime":2970.02,"endTime":2973.02,"body":"Jesse was our first guest on"},{"speaker":"REID HOLZWORTH","startTime":2970.02,"endTime":2973.02,"body":"the finance side of the house,"},{"speaker":"REID HOLZWORTH","startTime":2973.02,"endTime":2974.91,"body":"and he's not going"},{"speaker":"REID HOLZWORTH","startTime":2973.02,"endTime":2974.91,"body":"to be our last."},{"speaker":"REID HOLZWORTH","startTime":2974.91,"endTime":2976.95,"body":"We actually have"},{"speaker":"REID HOLZWORTH","startTime":2974.91,"endTime":2976.95,"body":"another one coming"},{"speaker":"REID HOLZWORTH","startTime":2976.95,"endTime":2979.5,"body":"on in the next episode that"},{"speaker":"REID HOLZWORTH","startTime":2976.95,"endTime":2979.5,"body":"doesn't even know about"},{"speaker":"REID HOLZWORTH","startTime":2979.5,"endTime":2981.06,"body":"that he actually suggested."},{"speaker":"REID HOLZWORTH","startTime":2981.06,"endTime":2982.26,"body":"His name is Nick Zerbib."},{"speaker":"REID HOLZWORTH","startTime":2982.26,"endTime":2984.78,"body":"So we're going to continue"},{"speaker":"REID HOLZWORTH","startTime":2982.26,"endTime":2984.78,"body":"down this track a little bit."},{"speaker":"REID HOLZWORTH","startTime":2984.78,"endTime":2990.51,"body":"But, look, wasn't it great"},{"speaker":"REID HOLZWORTH","startTime":2984.78,"endTime":2990.51,"body":"Jesse's outlook on the economy?"},{"speaker":"REID HOLZWORTH","startTime":2990.51,"endTime":2995.04,"body":"Jesse's feedback to startups,"},{"speaker":"REID HOLZWORTH","startTime":2990.51,"endTime":2995.04,"body":"like, hey, pick something"},{"speaker":"REID HOLZWORTH","startTime":2995.04,"endTime":2997.44,"body":"and focus on it"},{"speaker":"REID HOLZWORTH","startTime":2995.04,"endTime":2997.44,"body":"and stay focused."},{"speaker":"REID HOLZWORTH","startTime":2997.44,"endTime":3000.81,"body":"That is so hard for"},{"speaker":"REID HOLZWORTH","startTime":2997.44,"endTime":3000.81,"body":"entrepreneurs to do."},{"speaker":"REID HOLZWORTH","startTime":3000.81,"endTime":3002.45,"body":"It's hard for myself."},{"speaker":"REID HOLZWORTH","startTime":3002.45,"endTime":3004.76,"body":"You see so much opportunity"},{"speaker":"REID HOLZWORTH","startTime":3002.45,"endTime":3004.76,"body":"you want to go after it,"},{"speaker":"REID HOLZWORTH","startTime":3004.76,"endTime":3006.35,"body":"but he's like, no."},{"speaker":"REID HOLZWORTH","startTime":3006.35,"endTime":3012.68,"body":"You got to go after the thing"},{"speaker":"REID HOLZWORTH","startTime":3006.35,"endTime":3012.68,"body":"that you can be best at, do it."},{"speaker":"REID HOLZWORTH","startTime":3012.68,"endTime":3013.94,"body":"Great advice."},{"speaker":"REID HOLZWORTH","startTime":3013.94,"endTime":3016.95,"body":"Well, Jesse, thank"},{"speaker":"REID HOLZWORTH","startTime":3013.94,"endTime":3016.95,"body":"you for joining us."},{"speaker":"REID HOLZWORTH","startTime":3016.95,"endTime":3018.32,"body":"It's a great episode."},{"speaker":"REID HOLZWORTH","startTime":3018.32,"endTime":3019.91,"body":"We really appreciate you."},{"speaker":"REID HOLZWORTH","startTime":3019.91,"endTime":3022.33,"body":"We'll see you out there."}]}