valuation

“And if you're, you know, you need to agree to a full ratchet to get the valuation that you were looking for then I think either A, you should relax your valuation expectations and, you know get better anti-dilution terms, or not raise that round.”

“My advice to them is to actually go for a slightly lower valuation, because whatever valuation they take is setting the bar for their next round of financing, and it's also setting the bar for what kind of exit they can have. And so trying to optimize that, I …”

“Interestingly, there are about, just about as many companies worth five billion today as there were worth five hundred million 20 years ago, which is why the premier venture capitalists are generating the same phenomenal returns today that they did 20 years ag…”

“It's generally better within the community to have outside firms kind of price and set valuations for your own companies.”

“The lesson there is value is important, but market size, market leadership, and company traction are far more important and far harder to assess. Therefore, you've really got to weight your ability to assess them and your certainty and your conviction around t…”

“If something feels overpriced by a factor of two, and I think it's going to increase by a factor of 2000, that's okay. You know, I always roll my eyes when investors are like, well, I would pay 400, but not four hundred and fifty million dollars for this compa…”

“If it's a team that has shown ability to execute, that has clarity of vision, that has an incredible product or product vision, and can execute in a very, very large market, it's not worth trying to optimize on the edges for valuation.”

“So I would say in the early stages, at least, don't worry too much about valuation. It's a good idea to keep an eye on dilution, but it's better to raise less at a lower valuation and a lower dilution than to raise at a larger amount at a high valuation early …”

“And the nice thing about private markets the way they are right now is it's all paper money. Like, whatever your last valuation was actually doesn't matter.”

“Oftentimes, the valuation doesn't actually matter that much. People try to get another 10 or 20% higher valuation than what they have on the table right now, but you're only raising 10% of that valuation or something like that, so actually it's only gonna make…”

“If you zoom out, Harry, big picture, if the company works, if it really works, it doesn't matter.”

“Our biggest misses have been on this question of valuation. Love the team, love the business, love the opportunity, have a great relationship, feel like this is going to work, and then we just sort of balk at the price.”

“The price in value, the price in valuation just doesn't matter in traditional ventures, even series A.”

“Interest rates are to valuations, you know, what gravity is to the apple.”

“I think there's this overhang of valuations and we haven't yet seen the drop that is going to come and it's going to be so severe.”

“I think this is an interesting question because my answer is oftentimes price doesn't matter unless you're off by five X, in which case then price is the only thing that matters.”

“I think it's fair to give on valuation.”

“Always saying the highest price is almost certainly going to be a mistake.”

“When an investor asks, how much are you raising? More often than not, they're actually asking, how much do you think you're worth? Let's start the negotiation on valuation right now, because a 20% is what they want.”

“If you want to cost ten billion, we probably should achieve six hundred million in revenue and then show profitability and continue growing with the same pace.”

“When the employees know that the valuation isn't realistic, I think really hurts the morale and hurts the ability of the company to kind of do its best work.”

“Like being a disciplined investor doesn't mean I will never pay more than X multiple, because when you find a really special company, you should lean into valuation. Now, the danger is that you can tell yourself a story that every company is a special company,…”