The Gospel of Founders Fund
generalist.com
The Gospel of Founders Fund
In the 1980s, a venture capitalist could truthfully say their investment was the difference between life or death for an important, generational technology company. Funding such companies, in this way, was absolutely a good quest. But today there are more people "helping the builders" than actually building, fighting one another in a zero-sum game
... See moreMarkie Wagner • Choose Good Quests
Whenever you shift from the substance of a business to the financial question of whether or not it fits into a diversified hedging strategy, venture investing starts to look a lot like buying lottery tickets. And once you think that you’re playing the lottery, you’ve already psychologically prepared yourself to lose.
Peter Thiel, Blake Masters • Zero to One
The second structural problem with the VC industry is that most venture firms are selling a product that is fundamentally an undifferentiated commodity — capital.
Erik Torenberg • Productizing Venture
So, what exactly has OpenAI done differently? Expanding on Altman’s comments and adding a few others.
- Going to market with a consumer and an enterprise product. ChatGPT Enterprise just launched. There’s ChatGPT Plus for $20/month for consumers. Is ChatGPT just product-led growth for the enterprise product, or will OpenAI run two playbooks: one to b
Matt Rickard • The Contrarian Strategy of OpenAI
OF CULTS AND CONSULTANTS
Peter Thiel, Blake Masters • Zero to One
