Stebbings: Hopin, BeReal, and Clubhouse failed to be 20VC's top returners
Harry Stebbings · Elon’s Empire: SpaceX, Tesla, Neuralink After the Storm & Anduril’s $2.6BN Power Move · 20VC with Harry Stebbings · Jun 12, 2025 · at 40:11
Harry Stebbings, host of 20VC, reflects on early portfolio forecasting errors and reveals how actual top fund returners differed from early predictions.
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“With my first fund, after 18 months, I predicted my top five fund returners, and you had your hop-ins, you had your B-reels, you had your clubhouse, and none of the five outperformers ended up being the outperformers, and the five outperformers I always had in the middle bucket, actually. They were always in the mid-tier, and actually it was Roger Ehrenberg at IA who said, that is exactly the same as me, and I see exactly that in our portfolios.”
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