Lewis: Bedrock's VC loss ratio is under 50 basis points
Geoff Lewis · Geoff Lewis: Why I Put $200M into Rippling; Uncapped Notes; "Compound Startups" | 20VC #933 · 20VC with Harry Stebbings · Oct 5, 2022 · at 20:49
Geoff Lewis is the founder and Managing Partner at Bedrock. He discusses Bedrock's capital allocation track record and low loss ratio across its portfolio.
0:00 / 0:12exact quote · 12.8s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“We at Bedrock have only lost a few million dollars. You know, we've invested hundreds of millions of dollars over almost five years at this point. I think our loss ratio is less than 50 basis points, so we, we've lost almost no money.”
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 Geoff Lewis
Lewis: Vengeance is a crucial motivator for historic entrepreneurs
“I think the greatest entrepreneurs in history, and this is a sort of declassé thing to say, it's not really a appropriate thing to say, but I'm going to say it anyways. I think the greatest entrepreneurs in history, it's this combination of a life's work surfa…”
Lewis: Rippling will dominate globally without leaving room for European clones
“Why does some of these European payroll and HR, workforce management companies, not knocking on Europe, but why do you need a rippling for Europe? There's no Airbnb for Europe. There's no Google for Europe. Why do you need a rippling for Europe? Why do you nee…”
Geoff Lewis: Only about a dozen VCs globally actually add value
“I think that some do. And by some, I mean maybe a dozen or so. And so I think there's probably a dozen VCs that you could say are actually value added.”
Geoff Lewis: VC board seats do not add significantly more value
“And then in practice, I don't actually think there's that much that a board can do to help a company. I don't think that being on the board enables you to add an order of magnitude more value than being a involved investor who's not on the board.”
Lewis: Parker Conrad is the most vengeance-driven founder he has backed
“And Parker has that in spades more than any entrepreneur I've backed. He's got it.”
Lewis: Rippling will become the AdWords for SaaS software distribution
“In March of twenty-twenty-two, Parker and the company articulated a very specific and detailed product roadmap around how they can really become, through their employee graph, over time, I don't think he would phrase it this way, but I'm going to, the AdWords …”