Everything Leon Wong said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Wong: Post-seed and post-Series A face greatest venture capital shortages
“The demand is totally met by the supply of capital where you see capital gaps are in phases after that, where you have the larger seed seeds that require larger amounts of capital because they're tackling something harder. So in the healthcare space, or you're…”
Wong: Starting early in venture beats pivoting from an operating career
“I think the best investors stem from actually being investors. So the earlier in venture that you start investing, the better you're going to be over the long term. So I don't think doing a career, a lifetime career in another field and then switching over as …”
Lyon Wong: Real-time operator networks will outperform individual VC operating experience
“So I think having an operational network is key, but not necessarily you have to be the one to have experienced All aspects of operating and you to be imparting the wisdom yourself. I don't think that's the, that in 10 years from now, I don't think that that w…”
Wong: Late-stage VC returns can match early-stage IRR via faster exits
“So there's no definitive optimal stage because if you're on that efficiency curve and you're investing in the late stage, it's as good as investing in the early stage. Even if your multiple isn't as high as So not in the hundred X, but you're really faster to …”
Wong: VC firms built on star individuals collapse when key performers leave
“Otherwise, if you have stars, once the stars leave, you don't have something that remains as an organization.”
Wong: Single-partner credit attribution undermines collaboration in venture firms
“And regardless of who takes that board seat or who ends up being interfaced with the company, we all need to get credit for that. And that's something traditionally very difficult for venture firms to do because all credit just falls to the one person.”
Wong predicts mass self-driving car proliferation by 2023
“I think seven years. Well, first I like odd numbers. No kidding aside. I think that it is not, it's not a two, three year away problem, but I don't think it's a decade, a long problem, but by mass, I think it could be mass proliferation out of the caveat, like…”
Wong: AI will never cause widespread permanent human unemployment
“By definition, you'll never be unemployed because humans are going to figure that out. So do I believe humans will figure shit out? Yes.”
Wong: Two VC General Partners can quality-deploy $125M to $150M maximum
“And I think between one 25, one 50 for two GP fund is reasonably what we feel we could deploy with quality.”
Lyon Wong: Spectrum 28 activates one new investment vertical per quarter
“We invest in, we open up and activate a new vertical per quarter.”
Lyon Wong: Maintaining sector depth costs far less than building it
“But what's surprising is that once you've established that depth, monitoring it and maintaining the relationships are a lot easier and a lot less expensive than it was to create in the first place.”
Spectrum 28 delayed public fund launch until one year after investing
“That's why we announced our press launch of the fund one year after we started investing, because we didn't believe that raising a fund saying, hey world, we got a lot of money, we're about to do X, Y, Z, is this is not our style. We want it to be that We got …”
Lyon Wong: Spectrum 28 raised $170M after initially targeting $125M
“So our target raise was closer to one 25. And I think we continually increased it because of thinking for the long term, there were LPs that we wanted to include in this fund to start building a relationship in order to raise a larger fund later. But really, f…”