“We did feel a little bit like that in 21, and so we took a disproportionate amount of liquidity in 21.”
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 Tom Loverro
Disclosure
Loverro: IVP saw two potential down rounds in a single week
“We're seeing, I would call it a trickle, but like a noticeable uptick from Q-four in deal flow, and we saw two potential down rounds this week.”
Tom LoverroFeb 13, 2023▶ 5:42Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
PredictionNot checkable as stated
Loverro: Late 2023 and 2024 startup fundraising wave will overwhelm VCs
“The way I back into the math says that there's a lot of companies that are going to be raising the end of this year and next year, and what's going to happen is there's only so many hours in a day for the investors who do, say, A, B, and C rounds that are goin…”
Tom LoverroFeb 13, 2023▶ 9:52Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
Insight
Loverro: VCs should heavily fund good companies or give zero capital
“If it's a good company, give them a lot of capital, and if it's not, zero. That's probably the right decision framework.”
Tom LoverroFeb 13, 2023▶ 13:02Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
PredictionNot checkable as stated
Loverro: Current tech downturn hangover will be worse than 2008 GFC
“In the lead up to the great financial crisis mortgages were going bananas. You had LBOs going bananas. Investors and venture weren't to the same degree. You didn't see companies in the public markets in tech or the privates trading at You know, hundreds of tim…”
Tom LoverroFeb 13, 2023▶ 14:01Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
PredictionHeld up
Loverro: LPs will refuse to commit to fast-deploying venture funds
“Unfortunately, I think that is gonna be the comeuppance that a bunch of funds suffer. LPs are gonna say no.”
Tom LoverroFeb 13, 2023▶ 17:45Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
Opinion
Loverro: Every VC firm should have marked down portfolios recently
“Everybody should have done some sort of markdown in the past 12 months for their venture investments.”
Tom LoverroFeb 13, 2023▶ 19:06Tom Loverro: The Ultimate Startup Survival Guide for 2023 | 20VC #977 · 20VC with Harry Stebbings
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