GP commit

“I think it's fundamentally excluding a lot of people who could otherwise be great VCs, because they either don't have the capital, or if they happened to, it's too much capital to allocate in one place, and thereby makes them risk averse.”

“The standard is also a fifty-year-old, largely male, with operating experience of It's dirty years and has built up a huge ton of liquidity that massively prevents anyone diverse or with a non-obvious background coming into this industry from actually creating…”

“I think a better way to think about it is, how much is the commit relative to what the nest egg is for the GP? How much is the GP going to actually feel this one, two, three percent?”

“So I'm a big proponent, and I think for emerging managers in particular, it helps take some of the financial pressure of having to go a couple years without salary while still being able to build infrastructure and potentially being able to help Cover a portio…”

“I also find it moronically because you insist on a certain bar, the managers can't do it out of their own personal capital. And so then they pay for it out of fees. And then that means that they are fundamentally capped from reinvesting in their own teams, pla…”

“So I think it really should be some portion of your net worth, and maybe it should be, like, up to 10% of your net worth should be in a fund. And that's a significant portion, but not like, it's not like you're gonna need an extra, like, you're not gonna wanna…”

“Billionaire founders of funds, they can put in a lot more money than me. Doesn't mean they're more committed than I am.”

“To your point about GP commit, yes, it has been an unnecessary barrier to entry for too many GPs.”