venture capital

“I've seen companies of with a founder, who's a first time founder, With an idea and they're raising it a forty million dollar pre valuation, right?”

“It's not just a media company. This would actually be an investment fund. So, you would be a VC fund whose brand is built Through journalism, whose distribution of how they help their companies is through their media arm. And so you're a media arm whose busine…”

“I think a lot of startups, it's a little bit of chicken and egg. How do you get the capital unless you have the team? You can't hire the team until you have the capital. But you don't get enough capital until you prove it, and so you get a million bucks, then …”

“I actually don't take that many meetings and I rarely do one-on-one coffees with people, which is really interesting and kind of a different strategy from other VCs, but I try to find interesting touch points that Will give me enough of an angle to invest in a…”

“I think this is just like the very, very early days for what's about to happen, where there will be a lot more people that look like me, and there will be a lot more people that start their own firms, because I think it's one of these things where like the nat…”

“I think by the way, this is a thing anybody can replicate. Not just in crypto. Ok, this is like, let's say, I'll call this a home run. And it's in crypto. But I think there's a lot of people listening to this that would be happy with, you know, half or a third…”

“So what they said was they go, yeah, it should be much more than that, but it's hard to say because a lot of it's still illiquid. They go they go, it should look more like a 150 to 200.”

“Why would I say my company's either going to be worth zero or a hundred billion? It's like, well, that's exactly what a VC wants because that's how their economics work.”

“I think that once you can get a business to ten million dollars, I think the odds of you being able to get it to 50 or a hundred are quite high. I think zero to 10 is a lot harder or more likely to round down to zero than 10 will stay at 10.”

“VCs give you the money, they might want you to do something, but it's your call what you do, and like, you can raise one round and never raise again from VC, or you can raise one round and grow at the pace you want,”

“You might be able to sell this for fifty million dollars and you'll make more money than if you raise money and sell it for 500.”

“There are people who just know a lot of things. You know, people who invest other people's money accountants, bankers, people like you know, VCs are like this. They see hundreds and hundreds of businesses a year. And so it's like those people, if you want to l…”

“I still think ventures totally random. I do it for fun off the side of my desk.”

“I think any company that raises that much money and has a site that says change everything and has raised a hundred and twenty million dollars and has never shown anything, I think they always fail. Nine out of 10 times. I think that they're gonna fail because…”

“The game isn't broken. The game works as it should. The thing that's broken is people who are joining and playing the game and they maybe shouldn't be playing the game, but it works perfectly fine.”

“What I've seen is the incentive creates this situation where the founder is sitting on a business that could make them happy and give them a great lifestyle, but they have a gun to their head. And so they continue down the venture path, even when it's actually…”

“I think one thing you probably lose though, is it's, in my opinion, it's harder to have like the really big outcome. If like the things we're doing or historically have done, it's hard to, It'd be like a ten billion dollar company from that stuff. And I think …”

“I think that I'm much better off incubating businesses and buying businesses. Cause it's a very steady, 15 to 30% cash return. And I feel it. I feel the wind in a much bigger way.”

“I think the Startup community is so insulated that you could actually overcome the chicken and egg problem through brute force. Cause there's not that many investors and you could find, you can quickly see who's worked with them just by looking at their portfo…”

“I think that if Mark Zuckerberg didn't raise venture capital, his company would be dead.”

“Basically only about one percent of companies that get started raise venture capital, but about 99% of the market cap in the public markets, they took venture.”

“In Silicon Valley, Lifestyle business is the it's the equivalent of saying no offense to start a sentence. It's like lifestyle business is how VCs pat you on the head and say, that's cute. Oh, oh, one million of revenue. That's cute. You know, we don't invest …”

“There's a bunch of really smart people that are now, have a new business strategy, and their business strategy is to buy wounded unicorns.”

“He raised like fifty million plus and invest all of that into content to grip, build this enormous following of Being the most followed creator on tick tock and YouTube and hundreds of millions of fans.”

“A lot of times people are like, should I raise money from X where X is some venture firm? And the answer is always who at X, because the firm is, is there is something, because there's a culture and there's an attitude. It's not nothing. It's not nothing. But …”

“You can have a business that's doing ten million dollars a year of revenue and growing 30% a year, but maybe it raised 40 or fifty million dollars. And such that like The founder is probably not going to make any money because the pref stack is so high. And th…”

“It's a hundred percent easier. You can hire better people because they're more ambitious and they're interested in working on harder things. They're generally larger, it could be larger outcomes. You're talking about like, you know, building like new industrie…”

“Look, if you just started a boring business, like a trash hauling business or window cleaning business or whatever it is, You got it to one or two million dollars of cashflow, sell it or hold it. You're set for life. And instead they go off and they raise all …”

“We raised VC after 10 years of doing companies without.”

“So therefore, the way to avoid getting fired in VC, again, this is not Founders Fund. This is what I like about them, that they're very different. But is it, the way to avoid getting fired is to be, well, to double check everything you do with other VCs. To ma…”

“If I could just raise less VC money for these companies and just create more of them. And not be directly operating them, then that could add up to being just as valuable, if not more valuable than if I created one unicorn”

“70% of the money is going into growth.”

“That's why most VCs make nothing except a good salary, but there are a bunch that have made billions because if you're in like three or four or five of those ten billion dollar outcomes, which is very hard, then you make a billion bucks.”

“We say freshmen and seniors make all the money in, in the venture business, like in the entrepreneur business. So you either don't know the rules. So you go into your business and you break a bunch of rules without knowing, or you know all the rules and you bu…”

“I think in this case, I don't think it's a venture opportunity. And I also think venture capital incentivizes growth. And that might incentivize the wrong thing in this space.”

“VCs have gotten tremendously rich being right 10% of the time. I mean, isn't that, I mean, that's an incredible stat for me that you're able to build such wealth on being so wrong so often.”

“Shopify didn't do as so many other companies do now, which is essentially reserve all the upside to insiders and their VCs, and then go public when it's already kind of plateaued, right? Like, from where they were to where they are now, an amazing ride for the…”