Company building is a long-term game, not a sprint. A single early success in an investor's career can easily be attributed to luck. True investing prowess is demonstrated through consistent, patient backing of companies over the long haul, understanding that there are no overnight successes in venture capital.

Instead of copying what other successful VCs do, find what activities genuinely give you energy. True long-term value in venture comes from compounding, which is only sustainable if you enjoy the process. A competitor who is passionate about an activity will always outperform someone who is just going through the motions.

A founder's deep, intrinsic passion for their company's mission is critical for long-term success. Even with a sound business model, a lack of genuine care leads to burnout and failure when challenges arise. Leaders cannot sustain success in areas they consider a distraction from their "real" passion, like AGI research versus product monetization.

The best founders treat their startup not as a job, but as an "affliction"—an unshakable obsession. This deep-seated drive signals to investors the resilience required to overcome the immense challenges of building a company from scratch.

Instead of trying to lead deals immediately, The Chainsmokers' fund Mantis aims to be a valuable role player ("sixth man") on rounds led by top-tier firms. This strategy prioritizes getting into great companies to learn what success looks like from the inside, building a foundation of pattern recognition before attempting to be the star player.

Venture capitalists champion the 'grind culture' of founder mode because their success relies on one or two massive outliers in a portfolio of ten. This incentive, which pushes founders toward burnout for a small chance at a huge return, is not aligned with the average founder's well-being or success.

The high-stakes world of deal-making is described as 'the flow,' a state that rewards total commitment but punishes those who are 'half in, half out.' Success requires giving one's all to the ecosystem, as it extracts value from those who only attempt to take from it.

The Chainsmokers' fund, Mantis, adopts a "sixth man of the year" strategy. Referencing NBA player Robert Horry, who won championships as a key role player, they aim to be collaborative partners rather than lead investors. This defines a clear, valuable role in a competitive ecosystem without needing to be the "Shaq" on every deal.

From their first meeting, The Chainsmokers agreed their musical success would be a "stepping stone" to a larger entrepreneurial platform. This long-term alignment on a vision beyond the core business created a durable partnership, enabling their expansion into venture capital and other endeavors.