multi-stage venture funds

“Bluntly, if multi-stage funds right now is the way that I see it, it's like completely price insensitive. I'm doing deals now where I end up not doing them because bluntly, they'll pay forty million pre when everyone else is paying 15, because they just don't …”

“And also like these funds are really big and slow. So they're not going to be able to like move and prosecute the things in the same way that they say on Twitter.”

“But these days, with the growth of those guys, it's all call options for them, right? They will invest into something and see how it plays out, so they can write the 30, fifty million dollar check, where it starts to get meaningful.”

“And the seed and even the series A is a loss leading product. It's like milk at the grocery store. Come on in, buy your cheap milk, but we're going to upsell you all the strawberries you can buy, baby, right? You know, wait till you see the series C and D, rig…”