Walk: Homebrew co-founders had millions saved before starting the fund
Hunter Walk · Homebrew’s Hunter Walk & Satya Patel: Why $100M is Not Enough to Execute a Seed Strategy | 20VC #972 · 20VC with Harry Stebbings · Jan 31, 2023 · at 17:46
Hunter Walk, co-founder of seed venture capital firm Homebrew, discusses how financial security achieved prior to starting the firm enabled him and partner Satya Patel to make long-term decisions.
0:00 / 0:27exact quote · 27.7s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“I think, like, not that this is, you know, sort of unspoken, because I think we've both talked about this, but, like, we also started this later in our careers, right? Like, we were both in our, you know, mid-late thirties, and I think it's, like, we both We were both above a financial, you know, threshold. Like, you know, it's like Americans say talking about money, like it sounds so uncouth, but like, look, like we're like, we both had, like, we both had, you know, we both had made millions of dollars, right? Like, and saved that, right?”
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 Hunter Walk
Walk: VCs refusing founder liquidity risk exploiting entrepreneurs while collecting fees
“Like the very least you're missing opportunities to de-stress founders in a way that will increase the probability of a wonderful outcome. And at the worst, you know, you're exploiting, you know, founders who have all their eggs in one basket, you know, while …”
Hunter Walk: There is no Series A crunch in tech
“I tend to be on the side that there is no Series A crunch in the sense that I have yet to find a company that I thought should be able to raise a Series A fail to do so.”
Walk: Overcapitalized startups face silent disappearance, low-value acquihires, or noisy collapse
“And so I think for most of those companies, layoffs are going to turn into silent disappearance low value acquihires or noisy collapses.”
Walk: Consensus decision-making is foolish for venture funds with 3+ partners
“If there were three or more of us, consensus would be You know, a foolish goal wouldn't serve us or the founders well.”
Walk: Homebrew never missed an outlier investment due to consensus rules
“We look back And we've struggled over 10 years to find an occasion where lack of, you know, if there was lack of consensus, it meant we didn't do the deal. And I don't think we have any, you know, quote unquote outliers that were, you know, false negatives bec…”
Walk: De-risked seed investing does not exist
“I don't think there's such a thing as like, De-risked seed. Like you should be betting on companies that in a success scenario can be wildly, wildly successful and worth a, you know, incredible amount of capital and want, you know, to own a percentage of those…”