Juan Orbea

Our guest is Brett Johnson, who was listed on America’s Most Wanted list in 2006 for cyber-crime and who the secret service once declared as the “original internet godfather.” 

Fundraising

General Partner (GP) 

A GP is a manager of a venture fund. They make decisions on how to invest the capital that LPs provide. 

Limited Partner (LP)

An LP is an investor into a venture fund. LPs provide the capital that fund managers invest, and typically have few required obligations outside of providing capital to the fund. 

Most funds

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6 discussion topics on which David agrees with Taleb:(1) [p. 286] The sterilized randomness of games does not resemble randomness in real life; thinking it does constitutes the Ludic Fallacy (his neologism). This is exactly right, and mathematicians should pay attention. In my own list of 100 instances of chance in the real world, exactly 1 item is... See more

Valuations will get reset. First in late-stage tech companies and then it will filter back to Growth and then A and ultimately Seed Rounds.

Until 1998 BH run a levered operation by having more invested assets in the insurance operation than BH itself had in book value.