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.
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Sacca interviewed dysfunctional wealthy families to avoid their money mistakes
“So when it became clear, we are going to make some money. We just sat down with a bunch of people who had been through that process. And by the way, not just the successful people. We intentionally sat down with people whose marriages had completely dissolved,…”
Sacca: We actively help elect progressive candidates who raise our taxes
“We're probably some of the most progressive people in technology, and certainly we help elect candidates who are going to raise our taxes.”
Sacca actively supports political candidates who will raise his taxes
“We're probably some of the most progressive people in technology. And certainly we help elect candidates who are going to raise our taxes.”
Lowercarbon's compensation plan is six to ten times VC industry standards
“Our comp plan probably runs six to 10 times what the industry standard is”
Solugen reached a nine-figure run rate with 50% to 60% margins
“A company, Solugen, industrial chemicals using enzymes instead of petroleum. Yes, their first VAT cost a lot of money, but they now are, you know, I don't know if I'allowed to say, but their run rate is ridiculous. Like, I'll fucking say it, like, nine-figure …”
Chris Sacca funded his first $50,000 angel investment using credit cards
“But that check I wrote was literally a credit card check for me. I didn't have any cash on hand. I was at Google, and I was vesting, but I hadn't sold any stock yet, and so I literally I went into that one with 50,000 dollars of credit card checks.”
Chris Sacca passed on Airbnb fearing "blood on your hands" from crime
“It was a lack of optimism that cost me some money in the beginning when I met the Airbnb guys and I pulled them aside and was like, look, somebody's going to get raped or murdered and the blood is going to be on your hands.”
Chris Sacca's LP portfolio of diverse venture managers is running at 2.5x
“It turns out right now that our LP portfolio of diverse managers is running about a two and a half X.”
Lowercarbon Capital charges zero fees and zero carry to HBCU investors
“For HBCUs, we would do no fee, no carry.”
Sacca passed on Airbnb in 2008 fearing 'blood on your hands'
“It was a lack of optimism that cost me some money in the beginning when I met the Airbnb guys in And I pulled them aside and was like, look, somebody's going to get raped or murdered, and the blood is going to be on your hands.”
Lowercase Capital managed $6 billion with just three employees
“I think we're six people now managing, you know, between the outside money and inside money over a billion dollars. At the height of lowercase, we were managing six billion dollars and we were three people.”
Sacca stepped away from VC because he feared becoming a 'B-teamer'
“That's one of the reasons I quit for a while. Was I worried that, you know, the stage of life I was in, I wasn't going to be able to fucking bring it. I wasn't going to be able to as obsessive as you need to be to succeed in this business and this industry and…”
Lowercarbon Capital requires every deal to have gigaton-scale carbon removal potential
“In climate, we specifically make sure every deal has more than a gigaton carbon removal potential.”
Lowercarbon's LP investments in diverse fund managers are returning 2.5x
“And so it turns out right now, our LP portfolio of diverse managers is running about a two and a half X.”
Sacca: Buying multiple houses made us prisoners to our possessions
“In the beginning, I made a bunch of money and I bought houses for Family and multiple houses for ourselves, and then my wife and I turn around and we're like, fuck, we're property managers. Our inbox is like, hey, this broke, and this is happening, and what do…”
Sacca's first angel investment was Photobucket, which sold for $330 million
“The very first one I did on my own was a company called Photobucket, which we ultimately sold for three hundred thirty million dollars, which sounded like all the money in the world at the time.”
Chris Sacca's second angel investment was a $25,000 check into Twitter
“My second investment was Twitter, and that one was funny because Evan Williams was, I'd already been working with the company and helping him out, but Evan went and circled up investors for the round, and he's like, hey, I've got you down for 25 K, 25 K, good,…”
Kevin Systrom specifically targeted Sacca, D'Angelo, and Dorsey for Instagram's angel round
“Instagram came to me, but like Kevin Systrom literally said, I want three angels, you, Adam D'Angelo and Jack Dorsey. And so he pitched me. I literally was not seeking photos. I, it sounds fucking hilarious, but I thought it was spent. I thought it was done. A…”
Sacca funded his first $50,000 angel check with credit card debt
“That check I wrote was literally a credit card check for me. I didn't have any cash on hand. I was at Google, and I was vesting, but I hadn't sold any stock yet. I went into that one with 50,000 dollars of credit card checks.”
Lowercarbon Capital has $1 billion invested in climate tech
“We've got basically a billion dollars at work In the field right now”
Chris and Crystal Sacca are LPs in dozens of funds led by diverse GPs
“Crystal and I are LPs in dozens and dozens of funds, Because that was one of the ways we paid it forward, you know, and to help kind of promote diversity in the industry, we backed literally dozens of first-time general partners who are women, people of color,…”
Sacca's first angel check was Photobucket, which sold for $330 million
“The very first one I did on my own was a company called PhotoBucket, which we ultimately sold for three hundred thirty million dollars, which sounded like all the money in the world at the time. You know, Flickr had sold for like 25 to thirty five million doll…”
Sacca backed Triller and DubSmash before TikTok took over
“We had two other investments, Triller and DubSmash, that were kind of the same thing, right? And there's no real reason that they didn't succeed. They just didn't.”
Chris and Crystal Sacca backed dozens of underrepresented first-time GPs
“Crystal and I are LPs in dozens and dozens of funds, because that was one of the ways we paid it forward, you know, and to help kind of promote diversity in the industry, we backed Literally dozens of first time general partners who are women, people of color,…”