INVEST WISELY

“The idea of change was always part of of my life and and my career, and always thinking about where I wanna peak. Like, I I wanna peak at the majors. I wanna peak toward the end of the second week of the major. I don't wanna play my best tennis on a Monday of the first week, and that's not required. I just wanna be better than the person that's in front of me. Right? I don't need my best. Enough to get through. You don't have to be at your best for that match. You don't have to be. And that's hard that's hard to accept. Mhmm. You know? Because we always want the best from us. And in some ways, you don't wanna be because you don't wanna expend resources on something that doesn't shouldn't require those resources.”

“Well, it's a different type of intensity. I mean, every meeting is like a UN meeting. They're done in Italian because it's an Italian, public trading company. So every time you speak, I mean, there's a similar microphone like this. You press a button, it's your time to speak. There's a little bit of a delay. And the one thing I've I've really like, that you really miss is the sense of, like, a match point, like, in sport, you know, where there's there's this tension. When you finish something that you've held this tension in, there's nothing really like it. There's nothing that really, like, gets your juices flowing.”

“Venture is a game. You know, we know very little. When we get into investments, we need to be selfish, and we need to be greedy. Those are good trades for an early stage investor. As an investor, you look at yourself and say, okay, I really fucked up. I'm not in a business of babysitting founders.”

“If I'm a limited partner and I have distributed my venture allocation evenly, I wouldn't sleep well at night. If you look at all the amount of money that's flowing into the markets right now and for the past few years, no, I don't think it's going to work. I think it's going to end up with some serious catastrophe for many of the players.”

“And the more you win, the more opportunities you have to say yes. And it's also, I mean, amazing lessons because the more the more the the more chances you get to say no, the better opportunities come about. But I I don't think I realized it. I mean, I, you know, I I moved to The States as a young girl. I don't think I really acknowledged, what like, the full picture, the three sixty approach to being an athlete. I was so I had my head down. I mean, I had horse blinders on for a majority of my career, where all that mattered is the ball and and and the result. I was from the moment I woke up. But I also as I started making a little money and recognized that, okay, now I'm now I'm supported.”

“When I wrote the first check to Asafo Rapoport at Adalome, at the first company they started in 2012, it was done at $15 million post, $5 million check. At Wiz in 2019, I wrote a $6 million seed check at $66 million post money. Today, you can see, watching deals done at $100, $150 million post, many of those deals done at high prices, that's in the incoming stream.”

“I had SugarPuva for over ten years while I was playing, and got it profitable after several years. It was an MBA on the job, ultimately. I mean, I going into it, I didn't know what a p and l was. I didn't know, you know, what a a strategic marketing plan was. Do you sell at a savings store, or do you sell premium? Are you scaling a product that costs $5? How are you doing it by maintaining its quality, that was incredibly valuable and something that I now get to think about as I as I invest in companies.”

“It's all up here, right, in our mind of how of how we approach it, of how, you know, the mentality that you have when things are not going well. Are you deflated? Are you, you know, like that, the composure that you show on a call, in a meeting, the way that I I think of business is, like, composure is everything. People people see how you feel, how you, you know, how you react, use your words wisely. You know, no matter who you meet in life, there there may be a time, most likely, they will come back in your life. Happens in sport all the time. It happens in business even more frequently. So all those little lessons, I I now get to apply.”

“Within that week, you know, I took a few days off. I I flew to Portland. I resigned my Nike deal. My dad told me to get in the room. And there may be things you don't know. There are certain, you know, elements of the deal that you're not gonna be familiar with. But you know what? This is your future. This is your money, and you need to be in that room. So he gave me you know, I was I was a teenager. I'm 17 years old. What do I know about money? But for him to say, just be there, you know, and someone in the room, the the c suite individuals that will be, you know, talking this big game, they're gonna see your face and it's gonna be a little tougher, you know, to bring the deal lower to you.”

“And who you're playing against doesn't necessarily matter. I mean, you kind of had a a legendary rivalry with with Serena. Well, of course it matters. You know, that that made that made you better, you felt like, at forced to up your game. Right? Yeah. When I was young, I my father made sure that I would always play up in my age group because he didn't think there were so many there was as many valuable lessons when you're beating everyone to when, you know, people are showcasing your weaknesses. Right? And, like, with Serena, do she's a she's a business person also. Do you do you have a rivalry with her in business like you do in tennis? No. We we actually there's there's a lot of deal flow amongst us now, which is a lot of fun. Because we get to see, we get to see a lot of the same or similar, business opportunities, and we occasionally run it by one another.”

“The venture business as a whole doesn't work. It doesn't work, it shouldn't work. Returns, distribution are not divided equally between players. Otherwise, it would be too easy and there won't be winners and losers. It would be boring. None of us would be playing that. We would do something else. So the expectation that the venture business would work out is set yourself for disappointment from the get-go.”

“The fact is that out of around 150 new companies in cybersecurity in Israel, the likelihood you'll hit a successful company is still one to one percent. It's one out of 150, maybe two out of 150. And the prices, the entry prices where you buy stock at the seed stage is going significantly higher means that the market is not balanced. A lot of that cash that's flowing into the market would be wasted.”