The Ledger
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Libby: Lower-cost ETF equivalents will disrupt traditional venture capital fee structures
“I think that that's going to come to the venture world too. It's been a momentum trade. And so if you're Sequoia or Forerunner or Bessemer, you have services and tools. I think it's going to be hard to prove that you should be getting two in 20 versus an ETF e…”
Green: In outbound VC sourcing, responsive companies are usually low-performing
“And we had a rule at Bessemer. If the company called you back, it really sucked. It was the CEO you call every two days for a month. That's the CEO you want to get on the phone.”
Green: Sequoia, Kleiner, and Bessemer had little differentiation beyond check size
“And I didn't frankly think there was much difference between Bessemer and Sequoia and Kleiner at the time, and General Atlantic and TCV, other than some people wrote bigger checks and smaller checks.”
Formal venture training carries far more weight than an AngelList track record
“Everybody's got an angel-less track record today, but I'm talking like formal investor training. So I love introducing people like, I mentioned, you know, Ross Fabini, who spent, you know, years with Canaan Ventures, or Sunil Nagaraj, who launched Ubiquity aft…”