The Ledger
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Randle: New partners at mega VC funds get narrow coverage
“If there's 50 investors if you come in and you're like the 23rd partner at like, I don't know, like Iconic or like one of these places like what companies do you get to cover? And so they, like that, that's the first problem is like you end up getting like a v…”
Lemkin: ICONIQ used Statsig acquisition as backdoor to invest in OpenAI
“Iconic rolls over a hundred million into open AI. They're not allowed to invest because they led the anthropic round. Right. So this is the only way they can put nine figures into it because they're soft band or hard band from the round.”
Lemkin: AI-native startups under $100M ARR average -126% cash margins
“AI native companies, the ones we're all so excited about growing so quickly under a hundred million ARR. Have terrible free cash flow margins -126%. It's much worse. Non-AI companies are -56%.”
Forquer: Legora leverages investors like Bessemer and GC to close deals
“A hundred percent. I mean, with our, the cool thing about the space that we're occupying is because the VCs themselves, like if you think about Iconic, General Catalyst, Bessemer, they have huge legal networks themselves. They're big spenders on legal services…”