South Park Commons was the top talent source for OpenAI in 2016
Ruchi Sanghvi · Ruchi Sanghvi: My Job Interview with Mark Zuckerberg; Deep Dive on DAOs | 20VC #895 · 20VC with Harry Stebbings · Jun 10, 2022 · at 7:54
Ruchi Sanghvi is the co-founder of South Park Commons (SPC), a tech learning community and venture fund. She describes early member outcomes.
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“In fact, in 2016, we were the largest top of funnel for both of these organizations.”
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More from Ruchi Sanghvi
Sanghvi: VCs demanding innovation while operating as legacy firms is 'bullshit'
“You know, I think it's bullshit that VCs ask their companies to innovate when they operate as old school white collar legacy firms.”
Sanghvi: The tech industry is extremely ageist, driving a fear of irrelevance
“And then on the flip side, I find the tech industry is extremely ageist. Things advance so quickly that most people end up fearing being irrelevant. So if you take your foot off the pedal or you take a break, you kind of need to start from ground zero all over…”
Sanghvi: DAOs require centralized operational structures to run efficiently
“Contrary to what DAO stand for, there's some efficiency in centralized organizations and having centralized operational capabilities, which is kind of similar to venture.”
Sanghvi predicts institutional LPs will invest directly into DAOs by 2037
“And one would assume that if these DAOs are to be successful over time, much like companies, institutional investors over time will find direct access to these DAOs. Now it might take like, you know, 10 years, five years, 15 years, but if this is already happe…”
Sanghvi: South Park Commons fund holds first right of refusal on member startups
“So the fees that we generated from the fund are used into running the operations of the community, and the community members in turn have given the fund the first right of refusal to invest in their companies.”
Sanghvi: Multi-stage funds write seed checks just to buy cheap option value
“When a large fund writes, you know, one or two million dollar check in your seed round, they're simply buying option value to invest in later rounds. For a one billion dollar fund, one or two million dollars is cheap. And it's a cheap way to buy that option. B…”