Everyone knows the saying: bet on the jockey, not the horse.
But in this upcoming episode, Lane Kawaoka takes it further—
What about the stable hands?
The other investors in the deal?
The capital stack that has to hold when things go sideways?
Because real investing isn’t just about the operator or the asset.
It’s about the entire system—and whether it can survive stress.
If you’ve ever evaluated a deal by looking at only one piece,
this conversation will change how you underwrite risk."