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 21 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 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
Sanghvi: VCs demanding innovation while operating as legacy firms is 'bullshit'
“You know, I think it's bullshit that VCs ask their companies to innovate when they operate as old school white collar legacy firms.”
Sanghvi: The tech industry is extremely ageist, driving a fear of irrelevance
“And then on the flip side, I find the tech industry is extremely ageist. Things advance so quickly that most people end up fearing being irrelevant. So if you take your foot off the pedal or you take a break, you kind of need to start from ground zero all over…”
Sanghvi: DAOs require centralized operational structures to run efficiently
“Contrary to what DAO stand for, there's some efficiency in centralized organizations and having centralized operational capabilities, which is kind of similar to venture.”
Sanghvi predicts institutional LPs will invest directly into DAOs by 2037
“And one would assume that if these DAOs are to be successful over time, much like companies, institutional investors over time will find direct access to these DAOs. Now it might take like, you know, 10 years, five years, 15 years, but if this is already happe…”
South Park Commons was the top talent source for OpenAI in 2016
“In fact, in 2016, we were the largest top of funnel for both of these organizations.”
Sanghvi: South Park Commons fund holds first right of refusal on member startups
“So the fees that we generated from the fund are used into running the operations of the community, and the community members in turn have given the fund the first right of refusal to invest in their companies.”
Sanghvi: Multi-stage funds write seed checks just to buy cheap option value
“When a large fund writes, you know, one or two million dollar check in your seed round, they're simply buying option value to invest in later rounds. For a one billion dollar fund, one or two million dollars is cheap. And it's a cheap way to buy that option. B…”
South Park Commons commits to follow-on investments regardless of startup performance
“From that perspective, we always commit to our founders that we will invest no matter what in the first round of financing following our seed investment.”
Sanghvi: Silicon Valley tech culture unhealthily ties personal identity to work
“Alright, so in, in the tech industry, and especially in Silicon Valley, I think we have a very unhealthy practice where our identities are aligned with our work.”
Sanghvi: Reject single mentors in favor of targeted expert advice
“I don't believe in mentors. I believe in asking people, For advice who are world class on the issues I'm facing.”
Sanghvi: Mark Zuckerberg's incredible rate of learning is a developed muscle
“The thing that makes him so special is his rate of learning. The rate at which Mark absorbs information, processes information, and learns about different topics is just incredible. And, you know, he wasn't always like that. Like, everybody imagines, like, Mar…”
Sanghvi: Venture capital money is fundamentally a commodity
“But it's also true that capital is a commodity.”
Sanghvi: Traditional VC will survive as long as traditional LPs exist
“As long as traditional LPs like university foundations exist, traditional VC will continue to exist.”
South Park Commons launched Founder Fellowship DAO with 1,999 investor limit
“At SPC we launched our Founder Fellowship DAO with Syndicate. It was the first DAO of its kind. It's a three C seven DAO that allows for up to 1999 investors instead of the traditional hundred limit. And in our case, we had multiple funds participate. Founders…”
Sanghvi: I work at 200% until burnout, requiring four to six months off
“I don't understand balance. I'm really poor at understanding balance. So I will work at a 200% run rate and then finally burn out and need to take four to six months off.”
Sanghvi: South Park Commons members average nine months picking startup idea
“So typically our members spend on average about nine months picking that idea and that goes, you know, and they do everything from time exploration to identifying problems that are key in those spaces to identifying solutions that might be valid to figuring ou…”
Early Facebook trashed its 2006 Davos invite, mistaking it for UC Davis
“We received an invitation from Davos and I think it was the year, And we all just trashed the invitation thinking it was an invitation from the University of Davies, not understanding the import of this invitation. And it's funny. And if you think about that, …”
Sanghvi: 30% of South Park Commons members do not intend to start companies
“In fact, 30% of our members are domain experts who have no intentions of starting companies.”
South Park Commons targets 7% to 10% equity for its $1M seed checks
“But that said, with that one million, we try to buy between, on average, across all our companies, between, like, seven to 10% equity.”