Tribe Capital

“So if you're, in my opinion, a good asset allocator, you're reducing your loss ratio and you're concentrating your capital and the products that are working. So you're not bridging companies. You're not reserving companies just because they got a series B or a…”

“And so we have the world's largest repository of private data of private companies. More than anyone else in the world because we've been doing it for 10 years.”

“So a tribe we've invested in, you know, I think it's like 15 plus unicorns since we started. And these are companies that are, you know, 50, a 102 50, a billion in revenue already.”

“We don't have a dedicated fund in India yet. We have a dedicated team in India, which is a separate management company, and the mandate in India is actually much more expansive.”

“Where at the time that we had measured and quantified it, there were about a billion in revenue, about six hundred million in EBIT.”

“1.6 is a little old, but yeah, and that's roughly correct.”

“We had a company called Carta, which is more of a network effect company around cap tables in the United States and in Europe. When we invested again, there were sweet spots between, you know, zero and ten million revenue, but there were around six. Today, the…”

“So today I think we look at maybe across all of our organization, but I think we're on a run rate of about, you know, 4500, about 5000 companies per year. That's a lot. And the team that runs that for a company called Termina is eight people.”

“We have a goal of hitting a net five X return profile for all of our funds over a 10 year period. And we've always been on track for them. That's kind of our historical record.”

“We invest in a company at its, what I want to call, early-esque to mid-stage, series A, B, and C. So I basically think of it as fifty million enterprise, 30 to fifty million enterprise value, all the way to two 50 to three hundred million enterprise value. Tha…”

“So I'd say that, you know, on the. 20 year curve of what you wanna see in terms of liquidity in India, I think they're just starting. Let's call it. They're right at the product market fit stage.”

“At the early stage, they don't work because their product doesn't work. At the mid stage, you might have the product, but their go to market doesn't work. And at the late stage, it's because the management team decides to do something extreme, and then the com…”

“In the US, we've had crypto companies that have gone from, you know, a couple, you know, tens of millions of revenue to a couple billion revenue like Kraken.”

“We had a company called Docker. When we invested, they were just shy of five million. They're roughly just shy of two hundred million today. And, you know, it's basically between 18 and 24 months.”

“And so our whole point here is that if software and technology and infrastructure is inherently deflationary, you will find companies in every sector that's good. And there's gonna be winners in every category. And as long as you can benchmark that that compan…”

“Data isn't your strategy. It's just something to interpret. And your strategy and your mission has to be, you know, like it has to be based on like what you really care about.”

“If I went through all of the companies that we have in our portfolio, I would say that 50, 60% plus are what I call average teams, but they have amazing products and product market fit.”