2. The landing is not the verdict.

There's a habit almost nobody knows they have. Judging a decision by how it landed.

I had a call this afternoon with one of our investors. A good one. He brought up a project that didn't work out.

The thesis was right. The building was right.

The market moved in a way nobody could have predicted.

But the deal didn't work. And he was right to say so.

The landing is not the verdict. The landing is just the landing.