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Carbon’s funds had long been oversubscribed. This meant that it could select its LPs and how many shares of its funds to ration out to each. It could choose to accept only the cleanest, classiest money. Carbon was allocating the highest returns on capital to the largest fortunes, but, more than tha…

Working on this slide removed the moral wrappers, the narrative frostings, the sweet addictive stories I had been telling myself about my job, myself, Carbon, and Boone. He did not make the world a better place. Neither did Carbon. Nor I. Whatever greatness he and Carbon had achieved had not come f…

The first goal was the Big Hairy Audacious Goal, what Collins describes as a goal that falls “well outside the comfort zone” and is “so clear and compelling it requires little or no explanation.” Carbon’s BHAG was exceptionally high returns only—for the next fifteen years. There was no talk of bran…

Somehow Boone and I got on the topic of dating. I had blocked Josh everywhere, had not shared my work email with him, had not communicated with him since last fall. Days ago, Josh had sent an email to me at work with the subject: “Very Important, Please Read.” I read the first sentence—“I forgive y…

The three men spoke about skating to where the puck is going and not where the puck is, which was a treasured hockey quote of business leaders. “But then,” Michael asked, “how do you know where the puck is going?”

“Practice. That’s all it is. If you practice enough, you can sense things. You kno…