Knowledge beachcomber interested in the ownership economy, flourishing communities, ecosystem building, magic, and knowledge as an end to itself.
Established institutional LPs have backed solo GPs. University endowments and other institutional investors have funded several top managers. In doing so, these LPs seem to have made peace with the model’s structural risks.
First, most venture capital firms use antiquated business models that prevent them from being able to move quickly, reach scale, and establish strong competitive moats. Most venture firms are built on a partnership model, like law firms.