The Ledger
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why aren't all 6 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Smith: VC firms operate like golf teams rather than true team sports
“On a good day, I think venture firms on their best day Our golf teams, like individuals shooting their best score, their lowest score, and adding them up at the end. We really think about our team and our approach more like a basketball team or a soccer team, …”
Smith: The best founders master all three financial statements
“The best founders, I think, just know like all three financial statements and can talk really intelligently about how their business needs to scale and what capital is required to scale their business.”
Smith: Footwork was ~2x oversubscribed on Fund I by early March 2021
“We felt very fortunate to be in a position in early March of being, call it, two X oversubscribed our target.”
Smith: Footwork raised Fund I without meeting most LPs in person
“Most of the LPs we did not meet in person during this process”