Will Quist is a partner at Slow Ventures, an early-stage venture capital firm. He explains why Slow Ventures avoids building a multi-stage investment firm.
“I think the amount of human capital and what it means on a daily basis to be a competitive multi-stage firm is not what we do. It's not our strength. It's not our DNA.”
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More from Will Quist
Opinion
Quist: Only 5% of venture capital funds classic early-stage venture bets
“Five percent of the industry or the capital of the industry, I think is really seeking out classic venture bets and the rest of it is piling on into growth”
Will QuistSep 12, 2022▶ 8:53Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
PredictionNot checkable as stated
Quist: Mid-sized VC funds will struggle to find alpha by 2027
“I think the pie gets bigger. But unfortunately it subsists less people. Goldman and Morgan are much more profitable than a lot of other investment banks. And so I think you'll see firms that have picked a quadrant and set up their organization and strategy wor…”
Will QuistSep 12, 2022▶ 34:25Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
Insight
Quist: Accumulating top companies beats holding a diversified venture portfolio
“You're almost always better off accumulating stock in those companies over the first eight years of their life than you are in any diversified venture portfolio.”
Will QuistSep 12, 2022▶ 54:42Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
PredictionHeld up
Quist: Tiger Global will retrench and deploy less private capital annually
“I think they retrench probably at slightly smaller scale on the private side, the public book. I don't know. There aren't a lot of firm, not a lot of public books that have recovered from being down that far. But they're kind of an unprecedented institution in…”
Will QuistSep 12, 2022▶ 1:01:23Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
Insight
Quist: Effective TAM analysis focuses on past spending on inefficient solutions
“I think a lot of TAM analyses, like, starts off on the wrong foot. I like to ask, and I think the question you want to have about marketizing is, most products are built to solve a problem. Most problems are solved, but inefficiently. And so the question I hav…”
Will QuistSep 12, 2022▶ 19:23Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
Insight
Quist: Underwriting startups with multiple novel theories is exponentially riskier
“Being novel, having a novel theory and being correct, having one of them in your life is a low odds proposition. There just aren't that many. Having two isn't linear risk or the odds of being right on two vectors is exponentially lower. And I think that there'…”
Will QuistSep 12, 2022▶ 29:25Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924 · 20VC with Harry Stebbings
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