benchmarks

“If there is, at the earliest stages, a company that is High quality with high quality investors coming in. LPs are probably the last in line in terms of getting access to that. So imagine a seed funded company by one of our fund managers, a high quality firm l…”

“Less than 10% of our portfolio is, or I should say less than, there's much less than a 10% overlap between us and any, you know, it's usually less than five percent.”

“When there is so much pressure to do well on these benchmarks, developers are intentionally or unintentionally optimizing these models In ways that look good on the benchmarks, but don't look good in real world evaluation.”

“I mean, they turn more and more bullshit over time. There's something called good hearts law. So when you start optimizing for a number, that number stops being a good measure for success.”

“Andreessen's market share is higher than benchmarks in terms of that. That worked. And I wish Rotman, the guy from DST did. It's higher in terms of the great series A's, right? As a market share, but the hit rate is much lower.”