Today we're talking with Sarah Anderson, Founder and Partner of Vault Fund. We're going to dive into what makes a venture studio? Sarah will help us differentiate between a typical venture fund, venture studios, accelerators, and incubators. She dives deeper into the various venture studio models that we are seeing in the market and includes her thoughts on how a studio should be set up with fair and incentivized equity structures. The biggest theme or, so what? I hope you take away from this conversation is that venture studios are a unique and viable way to start companies by facilitating the zero to one stage company creation, backing experienced hyper-growth entrepreneurs with domain expertise.