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I’m famous for having invested $25,000 in Uber when it was worth around $5 million—it’s now worth $70 billion in the private markets. When I invested, Uber was operating in one city and they only had a couple of Lincoln Town Cars signed up. It wasn’t clear if the business could scale or make money, but I knew the founder was exceptionally driven
... See moreJason Calacanis • Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000
“Am I working with a 2% or a 20% venture firm?” The 2% firms are optimizing for deployment. The 20% are optimizing for large company outcomes.
Clouded Judgement 10.25.24 - Misaligned Incentives
Benchmark founder Andy Rachleff on why Don Valentine and John Doerr are the greatest VCs of all time
Andy on Don Valentine:
“He came up with a methodology that was spectacularly brilliant. It seems so easy in hindsight, but he had this philosophy that if a startup can screw something up, it... See more
Startup Archivex.com
Gavin Baker is the CIO and Managing Partner of Atreides Management, a tech/consumer crossover fund that he founded in 2019. Prior to Atreides, Gavin spent nearly two decades at Fidelity, with the last eight years as PM of the $17bn Fidelity OTC Fund. During his tenure, the fund compounded at over 19% net of fees, outperforming 99% of its... See more
FYI HubSpot co-founder Brian Halligan joined Sequoia as a senior adviser
Here's the Sequoia crew and who is really in charge https://t.co/DvzbW4cTs2
VCs are similarly disinterested in growing modest, sustainable businesses. In fact, a company that grows a healthy 5% a year is in some ways worse for a VC than a company that simply implodes on a moonshot. VCs have derogatory names for these otherwise seemingly healthy businesses: the walking dead, or worse yet, lifestyle businesses (when you say
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