Can anyone provide some commentary on the shift in pre-search background?

Hi Searchfunder Community,

The newest Stanford Study seems to indicate that fewer searchers are coming from PE backgrounds vs 5-10 years ago. While no background is "ideal" for preparation for pursuing a search fund how would you contrast the value of investing vs. operating experience both for the searchers success and in investors' willingness to back you as a Search Fund Entrepreneur.

Would really appreciate some commentary to explain this trend and understand the investor community's views on varying types of experience.

Thanks!