venture capital

“Notably the companies who were making these investments were not startups that were just doing this by raising venture capital around. They were large corporations with R and D budgets or basically the pockets that were deep enough to make Strategic long-term …”

“But the problem is if you're a founder and you raise money, you kind of need to go big or bust, right? That's kind of, it's hard to stay in between. You can't like make ten million dollars a year. You kind of need to make a hundred million dollars a year. You …”

“That's sort of the core fundamental kind of truth adventure, which is, really, it's something for people with a 20, 3040, 50 year time horizon. You have to get across, you have to get all the way across the cycles.”

“You know, there is a theory afoot, and Sequoia is pursuing it that basically the venture firms and the RLPs have left enormous amounts of money on the table by distributing too soon. And that, you know, the best strategy over, over, if you backtest over 50 yea…”

“The danger is not investing too cheap or too dear. The danger is literally stopping.”

“This in turn is why the employment decisions of graduating Harvard and Stanford Business School students are such a great indicator. Yes. Possibly the best indicator of all of what's happening in the market, because if they go into tech market, it's, the marke…”

“The single strongest correlation of how a company will perform is which, how high status a VC does a series A is within the stack ranking of VCs. It is far more predictive, sadly, than, you know, my own selection or any other variable I can find. It's almost d…”

“The reason why you didn't invest is like you said, like there's 40,000 online stores in the world right now in 2008. And Well, you can get half of them, but that's not actually that big of a business. And what we miss is, like, well, Shopify itself was the sol…”