Bob Fabbio, under the radar?! This is a great post, Bob. Honestly, it seems to me that there is a new VC opportunity for the entire state of TX post-AV. Dallas, Houston, and San Antonio certainly are not startup hotbeds, but they all have a handful of interesting deals per year. Group them up with Austin, and I think a new, modern VC fund could be quite successful with a TX focus. Anyway, your take was super insightful and spot on, IMO. It’s actually helps explain why it has been so easy to emerge as a professional angel in TX, since the VC market is so underserving. Of course, it hurts some of my companies later on.