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 19 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
Goldberg: VC portfolio services teams benefit investors, not founders
“I think one of the dirty secrets of multi-stage investing is that portfolio services teams are not for founders. They're for the VCs. They are a way to make something unscalable scale.”
Goldberg: Andreessen Horowitz's platform model has become a crutch for VCs
“If you go back to the innovation from 1015 years ago, when Andreessen Horowitz started, it was a great idea. It was this sense of, you know, excitement and innovation for venture. But I think where we are now is it's become more of a crutch to these organizati…”
Goldberg: Angel investors have worse odds of making money than playing roulette
“I think what most people fail to understand is that it's extremely risky. I mean, you probably have a better shot at going to a casino and winning roulette than making money angel investing.”
Goldberg: Founders should meet VC associates if they can lead rounds
“I strongly disagree with the notion that it's a waste of time for a founder to meet with a non-partner, though I do think the important question to ask an investor is, are you someone who can lead a round? So irrespective of title, and titles have become so me…”
Goldberg: Experienced VCs at large firms have the least time for new deals
“And I think there's a paradox at a lot of the larger legacy institutions where the most experienced VCs have the least amount of time to spend on new deals. And I think that's a problem for founders.”
Goldberg: Large multinational VC funds suffer from heavy administrative tax
“When you're running, I think when you're running an organization that is That is hundreds of people, that is multinational, like many of the large funds are today. I think there's a lot of time spent on people management, on administrative work, and that, that…”
Goldberg: OKRs do not work well for early-stage software companies
“He was saying, why were they lifted from the manufacturing industry and plopped down into the software world? And I would very much agree with that.”
Goldberg: First-time founders' hunger outweighs serial founders' experience
“First time founders. I think the ability to think from a clean slate to do foolish, potentially foolish, but on the other side, potentially visionary and transformative things, the hunger and the naivety that you described and a first time founder, I think out…”
Goldberg: Less excited to invest in financially independent repeat founders
“A founder who has done so well that, you know, they are financially independent, or they might not have the same level of hunger that they brought to their first business. I I'm less excited about that.”
Goldberg: LPs are frustrated legacy VC funds became asset managers
“Some of the venture funds that they had invested in 10 years ago, 20 years ago, they felt like had become asset managers. And the idea of being able to invest in a pure play venture fund that had experience, but also a lot of hustle was something that we think…”
Goldberg: Knowledgeable East Coast funds missed the biggest fintech wins
“In fintech, the most knowledgeable people were a bunch of the east coast funds that knew that had come, had spent two decades inside of financial institutions and knew the market way better than the west coast funds. And they outsmarted themselves from every m…”
Goldberg: Series A funds offer the best risk-return profile in venture
“I'd take the Series A fund. I think it's the best risk return on the market.”
Goldberg: Fintech lending companies with balance sheet exposure are unappealing investments
“10 years into a bull market, I think it's pretty hard to get excited about lending companies. Or companies that have large balance sheet exposure.”
Goldberg: Enterprise software startups can raise a Series A without $1M ARR
“The advice that I hear is for enterprise software founders, you need to get to one million dollars in ARR to raise a Series A. I think an enterprise software company that has a great product is going to have no Capital before certain financial milestones.”
Goldberg: Distracted incumbent VCs create opportunity for boutique funds
“Our view with chemistry is that the idea of having a small team, clean slates, this playing offense at a moment where many people are distracted is a really interesting idea for founders that want that, that kind of relationship.”
Goldberg: Legacy VC brands drive follow-on funding, not customer growth
“I don't think it helps with customers. I think it helps with funding. You know, when Sequoia does a deal, there's going to be money that follows it. And that's great. That's a feature of, The brand equity they've built over a long period of time.”
Goldberg: Revolut's product velocity is unparalleled in any market
“Revolut's product velocity is, is just unparalleled in really any market at this point, including new bank.”
Goldberg: Matt Harris is the best fintech investor in venture capital
“Matt Harris is, is probably the smartest and best fintech investor out there. I mean, you know, Ribbit's obviously incredible as well, but Matt Harris, I think, you know, has kind of set the direction of fintech for a very long time.”