“I have a chip on my shoulder,” she said, describing her drive to prove she can win over private equity in Silicon Valley based on merit, not inheritance or legacy …[T]he young founder hasn’t taken money from her parents for Phia. Instead, she’s insisted on raising outside capital even as some investors remain fixated on her personal life instead of her business venture.

I appreciate the sentiment, but it would be delusional to think her ability to “win over private equity” was divorced at all from her father’s legacy and last name. And actually, I’m not sure I appreciate the sentiment. In 2026, merit is way down the list, like scrawled sideways in the margins, of things that matter to private equity.