I'm curious as to overlap in the portfolio. It is my understanding that VC firms wont typically invest in competing startups but if you see a competitor in the

I'm curious as to overlap in the portfolio. It is my understanding that VC firms wont typically invest in competing startups but if you see a competitor in the previous batch does that hurt your chances? I know you have at least a couple areas where you have had overlap but I believe they were all at least separated by a year or two.