The Ledger
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Singerman: Personal Goal Is Maximizing Return-to-Fame Ratio
“I mean, I try and my life strategy is to maximize my dollars to fame ratio. Like I want to make a lot of returns for myself and LPs and have the minimal amount of fame possible, right?”
Singerman: Founders Fund has invested $400 million total into Anduril
“We put more than, we put four hundred million in that company total now. This is just our most recent one was two hundred million.”
Singerman: Bullish on defense tech, but no team compares to Anduril
“Defense tech is an area that I'm bullish on, but there's nothing like Endural.”
Every Founders Fund partner operates an independent investment strategy
“Everybody at Founders Fund runs their own strategy, and my strategy is very different from even everybody else's at Founders Fund, let alone other VCs.”
Palantir took over 10 years to land its first government contract
“I think it took Palantir a decade plus to get its first real government contract.”
Anduril exclusively sells to the US and its allies
“Yeah, I mean, we only sell to the US and our allies. We don't do anything where it would not be good with the US government to work with. We would not work with any countries that are not, you know, total allies in the United States.”
Defense tech startups fail without strong government relations teams
“Even if you have a really good tech team, and you're willing to do this, you need the, also the biz team, or the government relations team, or the government business team, a team that knows how to work with the government, or you just won't get anywhere.”
Singerman: Anduril's software platform is its most transformative product
“It is truly transformative in the defense space to have a real software platform backing all of your products that doesn't exist. And so I do still think that that is the most important and impressive part of the company right now.”
Many of Founders Fund's Best Deals Started as Small Seed Checks
“A lot of our best investments have been smaller checks That then we've been tracking the closely company closely enough that have grown into larger checks.”
Founders Fund Explicitly Warns Seed Founders About Potential Signaling Risk
“And so we always, when we're making a small investment, always tell the entrepreneur upfront, like, Hey, this is a potential signaling risk.”
Singerman Considers Affirm's Max Levchin One of History's Best Founders
“Affirm, because it's a ridiculously hard one run by one of the best founders in history with Max Levchin.”
Singerman: 2021 Was Founders Fund's Best Year Ever
“In 21, that said, like, You know, we had great, we had our best year ever in 20, 21, right?”
Y Combinator Demo Days Had Only 20 to 30 Attendees in 2007
“This is about when maybe 20 people would be at a Y Combinator demo day, maybe 30.”
Singerman's Early Fund Charged Zero Management Fees and 10% Carry
“We raised a fund called XGYC, no management fees, 10% carry, and invested in a bunch of fantastic Y Combinator companies in, in 20 oh seven, 20 oh eight.”
Singerman: Joined Founders Fund after Sean Parker introduction during SpaceX deal evaluation
“And that's when I met Sean Parker and we became friends and he. Said, Hey, why don't you check out what we're doing at Founders Fund? And I came in and that's when we were considering a little investment in a company called SpaceX and, you know, said, this is …”