Investor and author Kamal Ravikant describes content creator James Altucher on The 20 Minute VC podcast.
Opinion
Kamal Ravikant: 90% of VCs add no value and 70% are dangerous
“He's like, 90% of VCs are not helpful, and 70% of VCs are actually dangerous. You know, it's actually, I think he was exaggerating a bit, but there's a strong element of truth in it.”
Opinion
Kamal Ravikant: VCs shouldn't legally invest LP capital into social deals
“I don't think legally should be able to invest in that, because it's not my money. It's other people who trust it. I really feel very strongly. These people trusted me with their money.”
Opinion
Kamal Ravikant: Venture capital is not real work compared to running startups
“And honestly, I don't think it's real work, because what is my work? It's meetings and research, and maybe once in a while fundraising, right, and helping companies, which I do anyway. Like, real work is making payroll, you know, having to go and put payroll o…”
Opinion
Kamal Ravikant: Hands-off 'dumb money' is often the best startup capital
“Honestly, sometimes the best money is dumb money. People give you cash and leave you alone. It's your job to pull this off, right? I genuinely believe it depends on the investor, the person, what they're known for. You know, some are known for being helpful, s…”
Insight
Kamal Ravikant: Founders unable to produce mock-ups or prototypes shouldn't build tech
“You gotta have product. A product can be mock-ups and like, you know, LOIs from customers. A product can be an actual, you know, working prototype. It's gotta be something. You gotta, if you're not capable of doing that, you're not capable of, you know, you sh…”
Opinion
Kamal Ravikant: Entrepreneurs create startup value, not venture capitalists
“I think the entrepreneur is the one who needs to have the power. The entrepreneur is the one who creates the value, not the VCs.”