paper markups
2 statements across 2 episodes · 0 bullish · 2 bearish · 2 people on the record · first statement Aug 23, 2023 by Jason Lemkin · across every show →
Everything said about paper markups, oldest first
Aug 23, 2023 negative
Lemkin: Personnel at large LP institutions are compensated on paper markups
“A lot of LPs Big, at the bigger LPs, they're compensated based on paper markups too. This is less well understood. They're compensated. This drove crazy. Where did all this unicorn explosion come from? People don't understand that the cash had to come from som…”
Jun 5, 2025 negative
Lessin: Venture fund paper markups are irrelevant and often negative signals
“I know full well, I know this is an investor. That the marks that you made up or the marks of SoftBank listed something somewhere are completely irrelevant. In fact, the negative signal in a lot of cases. So like the marks are irrelevant and stupid.”