Scott Kupor of Andreessen Horowitz highlights the structural decline of US public markets over the previous two decades.
Insight
Product Visionaries Should Be CEOs to Control Resource Allocation
“And so we said, look, because these are product companies, we love the idea that the person who is the product visionary also is the CEO and therefore controls resource allocation and strategy and all this other stuff.”
Opinion
Sequoia's 2008 'Rest in Peace' Doomsday Presentation Was Incorrect
“If you were around here in the valley at the end of oh eight, Sequoia, who's a very well-regarded and has been a very successful firm, Put out this presentation called Rest in Peace, and it had a skull and crossbones and a tombstone on the front of it, and the…”
Insight
a16z Rejects Consensus Voting to Avoid Reversion to the Mean
“We are decidedly not a consensus organization, so When we started, and Mark and Ben have been very true to this over time, is we said, look, we worry that if you go around the table and you ask people to vote, you end up with reversion to the mean type thinkin…”
Assertion Not checkable as stated
a16z's Post-Investment Platform Team Dwarfs Its Closest Competitor
“Nobody's certainly done it at the scale that we're doing it at, so a big change in the industry over the last 10 years has been that there are more firms that are adding to their post-investment teams, which for a long time was really never part of the makeup …”
Insight
Mega-Rounds Transfer Asset Appreciation From Public to Private Markets
“I think really most of this is really just a wealth transfer of appreciation from the public markets into the private markets, and many of these people have lower costs of capital, right?”
Opinion
Companies Staying Private Longer Actively Hurts the United States
“I think it's a bad trend for our country. Selfishly, it's very good for people who are investors in or who have access to private capital because I think more and more of that appreciation will accrue there, but it's not a good thing for our country.”