We invest in growth that depends on two things: a spark and a wave.
The spark is caused by a fundamental change. Technology is the most exciting spark. Other sparks come in the form of new cultural trends, evolving social dynamics, or changes in laws.
The spark represents future potential, but the spark itself is only the beginning of a growth story.
The wave describes the translation of a spark into a widespread phenomenon of persistent growth.
Value is created when a wave persists far longer and far bigger than anyone thinks is possible.
We invest in sparks and waves. We invest in growth.