Jim Swartz, co-founder of Accel, offering a contrasting view to Arthur Patterson on the difficulty of raising Accel's first fund in 1983.
0:00 / 0:08exact quote · 8.3s
720p mp4 · rendered on demand · StarZero watermark
“I mean, I think it was the easiest fund we ever raised. We raised it in the 90 days or so, and as Arthur points out, it was a particularly ebullient era.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Jim Swartz
Opinion
Swartz: Believing current asset bubbles are 'different this time' is bullshit
“That's the key word. It's different this time. Yeah. Bullshit. I can't believe Arthur actually said that. It's different this time. He's bought into it.”
Jim SwartzNov 8, 2021▶ 17:1120VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Opinion
Swartz: Modern Monetary Theory is crap
“Modern monetary theory, which is crap.”
Jim SwartzNov 8, 2021▶ 15:3820VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
PredictionHeld up
Swartz: The market is at the beginning of a new cycle downturn
“Money's just being thrown against the wall, so there's been no countervailing force to trigger the cycle. I personally think we're at the beginning of one right now, but we'll see.”
Jim SwartzNov 8, 2021▶ 15:4720VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
AssertionContradicted
Swartz: Tech revenue multiples in 2021 are 3x to 5x historical peaks
“We're at three to five X where we've ever been in our lifetime in terms of price to revenue of companies, three to five X where we were at the peak ever before”
Jim SwartzNov 8, 2021▶ 20:0620VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Disclosure
Swartz: Selling high-priced assets expecting an imminent market crash
“Personally, I'm behaving like There's a major crash coming. And so whatever opportunity I have to get out of very high priced assets, I do.”
Jim SwartzNov 8, 2021▶ 21:2420VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Insight
Swartz: 100x revenue valuations are unsustainable and subject to mean reversion
“Everything reverts to the mean at some point. And, you know, a hundred times revenue is just not sustainable.”
Jim SwartzNov 8, 2021▶ 21:4820VC Special: Accel Founders Arthur Patterson and Jim Swartz on Building Accel Into One of the Most Prominent Venture Firms Over Four Decades, How Today's Market Compares To The Dot Com Bubble, How To Do Generational Transition Well and Why Accel Will Nev
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 1,200 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.