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 3 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
Kim: Most LPs invest via social proof and preserve failing VC funds
“I think most LPs are social proof investors. I think that there's a substantial dynamic of you don't get fired for buying IBM. And venture funds are hard to kill. A lot of them should have been killed, but they're 10 to 12 year vehicles.”
Kim: Most VC fund of funds are terrible asset gatherers
“I think most venture capital fund of funds are terrible. They're asset gatherers. They want AUM. They want management fee. A lot of them don't even charge carry.”
Kim: Party rounds are the absolute worst early-stage financing structure
“Now, the absolute worst scenario, and Mark Suster actually talks about it in his recent post on both sides of the table, are these party rounds. I don't think these party rounds are happening as often, but these party rounds are where 20 plus individuals, you …”