Bullpen Capital

“But the way I find my new favorite one is what was cool two years ago that's out of favor now, that's what I'm going to be looking at.”

“Bullpen never does bridges. If you need a bridge for six more months, I'm not your fund.”

“And so I think 24 months is about the most I'd ever advise a startup company taking in an early stage. I think 36 is too much. But you know what? 12 is probably too little now, given that the depths of the crunch is as bad as it is.”

“I would say no more than 25 of them have a truly different strategy other than I'm better in this category. I'm better in this geography than these other people. And so it's crazy to me that less than 10% of all of the newly created funds have a different stra…”

“We ignore a lot of that stuff at the front of the screen and just look at the numbers. And what it allows us to do is it allows us to spot a lot of things other people are just missing. Categories, founding teams, and geographies that nobody's paying attention…”

“We've done very few deals with burn rates over a 200 net as the result of the math that I just outlined.”

“If you're not looking at the spreadsheet and only looking at kind of these softer, subjective, gut-oriented factors, you're going to miss FanDuel. You're going to miss Namely. You're going to miss Ipsy. You're going to miss some of the absolute best performing…”

“We're now 54 deals in across three funds, and on average, the valuation we pay is about 20% higher than the post money of the round in front of us. This is a very interesting statistic, and by the way, let me give you the variance. Our rounds are between flat …”

“What if we said, let's go look at not what the cool kids are in YC's graduating class, but let's go look at those companies that have great metrics from three classes ago that nobody's paying attention to. You know, we sat down with some of the incubators, for…”

“We took on the folks from Eric Weizen from Bullpen Capital, and I'm just a huge fan of Bullpen Capital and what Paul has built over there. Their offer was a little bit lower, and they were sort of very transparent”