Studio 1. 0, tpg coceo jim coulter. So tpg is an investor in uber, airbnb, vice, spotify, what do all these companies have in common and what does it tell us about your strategy . Jim i think they all have in common the fact that they are driving disruptions in their industries. In some ways if you look at the history of tpg, while we are often called a private equity firm, a large part of our capital has been disruption investors, from the beginning when we started with continental airlines. People thought we were airline investors, but that was a moment in time. We have not done much airline investing in 10 years, but since that founding 25 years ago, we have constantly specialized in finding where the economy is changing and how we can expose capital to it. Emily you and david cofounded tpg in 1993. 1992. You were both working for the texas billionaire robert baath. What was it in those early days that set the stage for what tpg became . Jim we came to the industry from a different