Sarah Drinkwater

Valuing AI companies using traditional VC methods and metrics isn't just wrong—it's dangerous. SoftBank values OpenAI at $300B Microsoft values it at $157B Elon wants to buy it for $97B Who is right, who is... See more

Venture firms should aggressively ally with these disruptors. While tier 1 funds will worry more about Tiger Global, solo investors have changed the market’s dynamics. Proactive firms will adapt, empowering these managers and benefiting from their favorable brand and impressive reach.

Second, emerging fund managers tend to be made up of a smaller group of GPs or solo capitalists with strong industry insights and personal brand in a specific industry or trend, often when this is still nascent and overlooked by the established players.

Whether this is a good thing is up for debate—we should, of course, still fix things like income inequality and climate change. (And we need policy changes to complement private sector solutions.) But consumer technologies will always adapt to changes in the people they’re being built to serve—and with the Gen Z and Millennial generations radically... See more

In-group Cheems is particularly pernicious because of the strength of peer effects.  If you are surrounded by like-minded, ambitious, will-to-act-havers, you are unlikely to find yourself much affected by In-group Cheems.