Among so many great articles you’ve written, this might be your best ever imo! Totally nailed it as Travis said.

I also wonder how much of the ownership issue is due to a few powerful owners driving up that mentality vs just having way too many owners to form a cohesive thought that isn’t stuck down the middle. Never all in (minus the dumb 2018 moves you mentioned), never all out.

Lastly, I totally forgot the 2011 Newkom story, fascinating! Makes me wonder what could have been if he had stayed longer as Managing Partner / had more power among the owners