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 8 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
Walk: Consensus decision-making is foolish for venture funds with 3+ partners
“If there were three or more of us, consensus would be You know, a foolish goal wouldn't serve us or the founders well.”
Walk: De-risked seed investing does not exist
“I don't think there's such a thing as like, De-risked seed. Like you should be betting on companies that in a success scenario can be wildly, wildly successful and worth a, you know, incredible amount of capital and want, you know, to own a percentage of those…”
Walk: Venture fund size dictates investment strategy
“People attribute this to Mike Maple's affiliate and it's a hundred percent true. Like your fund size is your strategy, right?”
Walk: Success does not solve unaddressed co-founder disagreements
“And I think a lot of those tensions are often what caused conflict either because they weren't discussed early enough or because there's disagreement from the get-go and you figure, you know, success will solve all things. And that's not true.”
Walk: Investor-founder relationships do not improve after writing a check
“If it doesn't feel right before you write the check, it definitely doesn't get better after.”
Hunter Walk: Early-stage investors must back misunderstood companies
“So I'd say Lemkin is totally correct when you're playing in a space where the goalposts are well documented. But I think as an early stage investor, you also need to be willing to back companies that are going to be misunderstood for a long period of time and …”
Hunter Walk: Founder-market fit is Homebrew's primary investment evaluation criterion
“I think if Satya and I had to make a decision about any one quality that was present or not present in terms of impacting a investment decision, it would probably be something around founder market Or the why, why are they building this company?”
Hunter Walk: Most seed deal flow is dark and limited to few funds
“Because most of the, you know, at the seed stage, deal flow is more, I think, about what I'd call sort of dark deal flow. Deals that don't get seen outside of a handful of funds than necessarily 50 funds all fighting over and tracking the same company.”