I optimize for brands and people I enjoy spending time with - we've invested in Warby Parker, Glossier, Outdoor Voices, Bonobos - because if you're having a good time, you're inherently going to be better at what you're doing. Even the bad times are tolerable when you're working alongside people you respect and like.

Retail is undergoing a massive change, and there is a chance for new leaders to emerge and older brands to reinvent themselves.