I'd have made more money buying Zoom at IPO than I would if I held Cisco at the same time but added Zoom to Cisco's market cap. There was a big opportunity here for investors.

Sure Cisco shareholders would have been better off if Zoom was an in-house project, but investors are really the ones who are supposed to be making the value calls on teleconference-or-routers market exposure style decisions. If I'm a Cisco shareholder I don't think management made a mistake. I think I made a mistake not becoming a Zoom shareholder.