The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 9 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Porteous: Building a startup requires 80-100 hour workweeks for 4-5 years
“Are they really ready to commit the 80 to a hundred hours a week for four to five years that it really takes to build a company?”
Porteous: Traditional 10-year venture fund structure no longer works
“The ten-year fund structure with a couple of extensions doesn't really work. It was invented 40 years ago, And it creates a ton of challenges for everyone involved.”
VCs Cannot Control Companies Post-Investment; Leverage Lies in Selection
“It's very hard to control an investment. I think as an investor The things that we can control is the decisions that we make, right? In terms of the entrepreneurs that we back in the markets that they're going after, right? And that, that are attractive to us.…”
Loverro: RRE Ventures executed a rare successful bridge round for Venmo
“At RRE, there was a bridge round we did for what is now a very famous fintech company that got the company to a sale. Ironically, though, in retrospect, that was just a good company. And they should have just raised more money and kept calling. That company wa…”
Porteous: RRE's LPs demand early liquidity and double-digit net IRR
“I know that my LPs want to see two things in the first few years of the fund. They want to see early liquidity. They want to see us get well up into double digits in terms of net IRR.”
Porteous: Early-stage venture capital operates identically to the movie business
“All of us, you know, in the early stage of venture business spend our time really thinking about talent, and we could just as easily be talking about, you know, leading actors. I mean, we're looking for massively talented people who can play a leading role in …”
Porteous: Skyhook Wireless Provided Location Software for Early Apple iPhones
“Market-leading chip companies lost 90% of their value and were replaced by software alternatives, including by one of our companies, Skyhook Wireless, which was on the iPhone.”