The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Bloom: Mid-tier generalist VCs are a wasteland lacking clear value props
“The venture landscape had fundamentally changed. You were having this disruption where a barbell had formed, where on one end of that barbell, you have the Sequoia, Benchmark, Andreessen, Tiger Global, these like big name cache firms who, when they write a che…”
Tiger Global's 2021 fund will be a long, grueling struggle
“So the current fund has either got to be a big down fund, or they're going to eke it out. I suspect that's more likely. They're just going to take the time they need, redeploy money, move it around, ultimately return capital to investors, but it's going to be …”
Kayden: Tiger Global and Coatue win via fast checks without board seats
“One, we've seen the emergence of firms that write checks really quickly and are extremely aggressive, whether it's Tiger Global, D-One, CO-Two, name your favorite firm. That's just a very different strategy. They don't take board seats, but they're extremely k…”
Tiger Global's 48-hour checks stem from deep prepared-mind diligence, not recklessness
“As you kind of go into the later stage, it's interesting because one thing that we've seen with Tiger, for example, Tiger doesn't take board seats. They don't care about operations. They're just extremely good at diligence. They're extremely good at prepared m…”
Late-stage VC is a beta game that gets crushed in downturns
“Because basically, late stage is a game where it goes great when you're harvesting beta and the market's going up, so beta is positive, and you get killed when it goes down.”
Wyden: Competing with Tiger Global and Coatue on Apple is functionally impossible
“I'm never going to beat Tiger Global or KOTU or anyone on Apple because they're going to have Yippit data and they're going to have robots and AI and credit cards and all of this stuff that's just going to make it functionally impossible for me to beat them.”
Crossover investors like Tiger and Addition accelerated the venture market tempo
“And at the top end of the market, we've seen some non-traditional investors, the tigers and additions and global and such come in with huge sums of money and very quick cadence. And that's also contributed to the change in tempo.”
Gilbert: Venture fund scaling follows a four-minute mile dynamic
“It is taken as the canonical wisdom that you couldn't possibly do this strategy, and then when someone does, all other strategies feel really tenuous and obsolete quickly.”
Drogen: Starkiller models its investment approach on AQR and Tiger Global
“We try and pattern ourselves off of some mix of AQR and Tiger Global, and I think he's done it right, and he's taken his lumps along the way sometimes, but Times like this, he gets to come back and say, Hey, look, you know, the process works.”