Venture Industry

“You know, this is what Elon does, you know, to his competitors, like in the defense, you know, in the aerospace industry. This is what Andrel's now doing in companies in the defense industry. You know, this, quite frankly, is what we try to do, you know, to ou…”

“Venture industry as a whole invests right now between a 150 to two hundred billion dollars a year was the last numbers I saw.”

“The industry, the venture industry in massive transition, it's going to start looking a little bit like private equity. And a little bit like Gavin or Brad, where they're private and public market investors, and you're seeing buyouts occur.”

“Industry-wide, I think, what was it, last quarter, it was something like 70% of the deals were AI deals, I think, so, you know, you could probably argue that, The venture industry has kind of become AI all the time.”

“I think the venture industry was about to be in for a rude awakening, and then AI showed up.”

“Look, if you build a business to thirty million bucks for revenue, that's like a heroic feat. It's extremely hard to do. And then you somehow end up with eight percent of it under a two hundred million dollar press stack. That kind of sucks. And I don't think …”

“We as a venture industry have to think about how to create monopolies. Like, the regulator doesn't want monopolies, but we want monopolies. We want companies with increasing returns to scale, with deep defensible moats. You build this thing, it has this huge m…”

“And frequently what I say that in the venture industry is your ideal investment is something that seems crazy right now and totally obvious two to three years from now.”

“Frequently what I say that in the venture industry is, your ideal investment is something that seems crazy right now, and totally obvious two to three years from now.”

“For many years now, what I think has been a disservice to the venture industry is this concept of product market fit. What it effectively has entailed from an investment strategy perspective is that when a company reaches or sees some level of demand, Irrespec…”

“The venture industry per year has grown 25 X since then, so 25 X in 25 years.”

“The venture industry has an abundance of herd mentality investors in what I call the crack of.com investing consumer internet enterprise software, where everyone has the same strategy and they don't seem to scratch their heads that they all have the same strat…”

“Strangely in 95 to 96, we did a third of all internet investments for the entire venture industry. Not in dollar amounts, but just sheer number of deals. So we literally were a third of the market.”

“It's what really killed the cleantech industry. And there are a lot of reasons, but one of the reasons was that all my fellow brethren in the venture industry ran for the hills.”

“I think one of the challenges that we have in the venture industry is we don't take enough risk. It's becoming a little more risk averse because just people are inherently moving more later stage, which means you in fact, just look at more spreadsheets and num…”

“The venture industry is overfunded. I mean, I don't think anyone would argue that there's, you know, not too much capital in the venture industry.”

“When I looked at the venture industry that I was now part of, most of the observations were pretty high level. So there were lots of stats out there on numbers of billion dollar design founded companies or stats on LinkedIn job openings for user experience des…”

“I think the vast majority of firms do not understand design fundamentally. I think most folks in the venture industry still think about design as sort of a, you know, as sort of the drapes and the drop shadows, as it were, as sort of styling exercises.”

“I think it's something like four to six percent, which, you know, pretty small.”