Pincus: Friendster founder Jonathan Abrams doesn't speak to me to this day
“And Jonathan Abrams was
I'm very paranoid about any of us as investors doing anything close.
In fact, he doesn't speak to me to this day.
He feels like tribe.
He feels like we all kind of usurped and stole his idea for social networking by doing what we we…”
Abrams: VCs claiming to 'fall into VC' contradicts firm diversity excuses
“When you hear venture capital, you know, famous VCs sometimes in the media talking about the lack of diversity in their firms and being challenged about it and saying that they can't relax their standards, and fair enough, but when then you hear people saying …”
Abrams: Claiming to 'fall into VC' is usually masking unacknowledged privilege
“Really it does sound like the benefit of privilege when a family member or a former college roommate or somebody gives you this lucky break that is an entree into that world. It's a weird way of saying that you fell into it. It just doesn't sound like somethin…”
Abrams: VC stances on valuation sensitivity are personal religion, not data
“When it comes to this idea of whether you should be price sensitive or not, there's a lot of different opinions, and none of them really seem to be backed up by data, so it'd be interesting if a venture capitalist came on the show and said, look, we analyzed o…”
Abrams: Higher-priced angel investments performed better than cheaper deals
“In my case, the angel investments that I've made that were a little high in price have been ones that I was glad that I've made. And when I see ones that are sort of below market or really on the cheaper side, usually they're not the deals I want to do.”
Abrams: Statistical analysis proves larger VC portfolio size correlates with solid returns
“The reality is there are people who've actually done the math. I've actually seen, you know, a bunch of people who've done the math and proven that a portfolio that has a certain size statistically can be correlated with decent returns.”
Abrams: 'Spray and pray' label is weaponized by lead investors chasing ownership
“So I think spray and pay can be a bit sometimes a pejorative by folks who want to say, okay, we lead our deals because they're looking to get a certain minimum ownership or whatever they're looking for.”
Abrams: Forcing previous success playbooks onto new startups leads to failure
“Trying to take what worked for one successful company and then apply it to a later startup is, in fact, one of those patterns of failure that can be imposed”
Abrams: Top VC repeatable playbooks for startup success are a myth
“I actually think that's sort of a myth, that there's some sort of playbook for startup success that the top VCs have that they can do again and again”
Abrams: Top VC brand signaling matters much less than people pretend
“The idea that, that being a Sequoia company is going to be this huge advantage in terms of the branding, there's a lot of great investors these days that have great reputations, so chances are, if you have a bunch of Competitors. They probably have great names…”
Abrams: Most startup boards are fundamentally ineffective
“This is an unpopular opinion, but I think most boards are just not very successful, and you look at some of the things that you read in the press about very famous companies sometimes, and some of these companies have some of the most famous venture capitalist…”
Abrams: VCs cannot effectively serve on 10 to 15 boards simultaneously
“I think a lot of people are on too many boards. So even if you are a fantastic board member, I don't know how you can be a fantastic board member at 10 companies or 15 companies at once. I just think that requires sort of a superhuman attribute.”
Abrams: Startup boards need operational executives over celebrities and investors
“And I think more boards should probably have more nerdy Choices like more CFOs, more CIOs, CTOs, CMOs. I think there should be just more boring operational people on, on some of these boards than the, you know, quite as many celebrities and investors, but ulti…”
Abrams: AI is currently overhyped in startup pitches and VC focus
“I think one of the things I think is overhyped now is AI, and, or really, or maybe talking about AI, because I'm sure a lot of the, you know, I've invested as an angel in over-fifty startups, I'm sure plenty of them are using AI, but when I hear everybody talk…”
Abrams: VC GPs pitch fund strategies that contradict their actual execution
“A lot of managers, GPs, are coming to them And pitching a certain strategy for their fund that is not at all what they've actually been doing or not what they end up doing, and they're pitching that they're going to have a certain specific type of strategy and…”
Abrams: Facebook Delivers Fake News and Nobody Has Solved Discovery
“What people are getting on Facebook, you know, it's a lot of fake news. It's a lot of clickbait news. I think that nobody still has solved this problem.”
Abrams: Social Bookmarking Startup Hotlinks Was Launched Too Early
“Hotlinks was sort of a social bookmarking company way too early, trying to help people share cool links with each other.”
Abrams: Daily Retention Is A Far Better Signal Than User Opinions
“Asking people what they think is a lot less useful than seeing what they're actually doing, and if they're coming back and using it every day, I think that's a really strong sign”
Abrams: Nuzzel Fundraises Specifically From Investors Who Actively Use The Product
“In terms of the fundraising strategy for Nuzzle, we've consistently gone after investors who are using our product a lot”
Abrams: Winning Frontier Tech Companies Will Emerge Cycles After Current Startups
“So I kind of feel like some of these sort of frontier tech areas that people are interested in right now, if they're actually really going to be big, the companies that will really be big in those industries will probably be the companies that'll come a couple…”
Abrams: Sand Hill Road VC Team Collaboration Is Largely A Myth
“And my experience working with a large central road firm is you primarily are engaged with one partner. Even if they talk about their sort of collaborative team approach, the reality is you're pretty much talking, you know, mostly engaging with one person. And…”
Abrams: Friendster Went Through Six CEOs In Six Years
“And selling the company six years later, we went through six CEOs in six years. I was, you know, sort of routinely excluded from board decisions and the, our software was rewritten into worse software. The website barely worked for a couple of years and a lot …”