venture capital

“The aim is growth. And so you've got to be aiming to two X or three X your business every year. And there's this drive for growth because you've got investors who are on the line and you don't want to let your team down. You don't want to let your investors do…”

“I feel like this is what Venture has done since, you know, the last bull run of 2009 in Venture is they've been like, the thing is, We're reimagining the way that we live and what they're doing in actuality is retirement home, but for young people, but it's th…”

“You know, I think two out of 10 is winners. I think we have three out of 10 because we have a baked in commercial.”

“And he got commitments for five million ARR before he quit his job. So in a matter of, on a matter of weeks, he had a business on his hand, and now he quit his job, and he has the contracts, and the money is flowing in.”

“Once you take on venture capital, there's almost a contract you're implicitly kind of getting into, which is, I'm gonna build a billion dollar company. This is this, I'm going to build something really scalable, really big.”

“Venture scale companies are hard. And if you want to do one because you really love the mission, and you want to build something big, and you have the chip on the shoulder. But if you want to get rich, if you want to build a business, it is not the best way to…”

“You don't have the steering wheel, and your ability to influence is limited and so, You do everything you can to earn the respect of the founder, and respect is a different word than affection, I think, and it's hard. Like, it's super hard, and the great ones …”

“You know, a series A quickly becomes a series B quickly becomes a series C. And before you know it, the founder's equity is down around 10% or lower. And you know, if you can self fund your business, you know, you can exit at 30 to fifty million dollars and ma…”

“The winners are so big at that level, you could have 80% of your portfolio fail. So it's a game that's a lot riskier, and you're searching for the really big outcomes.”

“The wealthiest people in the world, they are not building apps. They're not on magazine covers. They're not pitching VCs. They own boring businesses that print money.”

“If I had raised venture capital money at the beginning of the company, there's no way I would have had the freedom to make the decision to fight for 18 months to go try to solve that. Because we were looking at this for a 10, 20, 30 year opportunity was worth …”

“When you go out and you raise billions of dollars, like, one, or some people raise billions of dollars, but millions of dollars, one, like, that company isn't yours anymore. Like, you have to deal with, like, you know this, having a board of directors, that's …”

“Like, when you're pitching VCs, you're pitching for the long term. You're pitching for, like, the big picture. Like, you're really saying, like, hey, this company can be worth fifty billion dollars one day. On Kickstarter, you're trying to deliver immediate de…”

“I've had several venture bets that, you know, we've gone into and they've, you know, they've gone to zero where I've lost, you know, several million dollars. Now one of them was cause the person was a bad person is ultimately in jail.”