The Ledger
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Andy Weissman: Venture Capital Success Stems From Process, Not Foresight
“And so, I believe that a large, if not the largest part of that, is about the process you create to make those decisions, and if you have a process, and you perfect that process, and you stick with that process, sometimes it works, and that's luck, right? Whet…”
Weissman: Traditional VC works near-perfectly for software, but nothing else
“I believe on one point that early stage software technology based venture capital is a near perfect craft for what it does. And by that, I mean, it is a near perfect allocation of a certain type of capital, risk capital, into endeavors that are focused on retu…”
Weissman: ICOs act as an external catalyst for financing innovation
“Part of what is exciting about ICOs, if one believes in what's happening, and there are lots of Reasons to be skeptical is that they are resulting in an external stimulus for change in financing structures for a certain type of sector”
Weissman: VC funds only need a few right decisions per fund
“Well, that's okay because with this business, we actually don't have to be right every time we have to make a decision just a couple times each fund.”
Andy Weissman: Capital recycling reduces effective management fee ratios for LPs
“Everyone wins with recycling. It's so good for your LPs. It's additional investment dollars that they're not paying management fees on, and so over the course of a fund, if you take gains and you reinvest it, that's more money that you're investing that lowers…”