In our quest to rid ourselves from our dangerous dark matter, we’ve broken the essential rules and laws of Mother Nature. By taking our poo out of the equation, we altered not only our agriculture, but the entire planet’s ecology.
When I was at Index we would include two sections in our memos that were popularized by Larry Summers. We would write about a company's "pre-parade" and "pre-mortem." Not only a "dream the dream" scenario, but a "dream the nightmare."
There’s a lot of mis-information being shared about VC performance and how it translates into LP returns.
There’s also a lack of understanding about how the VC ecosystem broke the LP ecosystem over the past few years and why this matters A LOT.
Here’s what’s going on:🧵👇