The Ledger
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Sri Batchu: Power law dynamics disincentivize VCs from helping struggling startups
“Because of the power law dynamic, unless you're
A winner, a clear winner. They're actually not incentivized to work with you, which is the irony is like, okay, the person that needs the most help, they're least incentivized to help.”
Batchu: Enterprise AI is sustaining innovation favoring incumbents with distribution
“The way we're seeing AI being incorporated into a lot of businesses is that it's more of a sustaining innovation and not a disruptive innovation, if you were to use kind of Clay Christensen's framework. In, for example, in BtoB, it hasn't become a big enough w…”
Batchu: Winning allocations, not finding top founders, differentiates VC firms
“It turns out that that's not the most differentiating element for investors. Like, you know, because of the parallel dynamics of the portfolio of VC investment, you just have to have a handful of really good companies. Right. And there's the founders, the 10, …”
Batchu: Investing requires a new skill set at each larger check size
“Investing is it's a completely different job at roughly each half order to order of magnitude. What I mean by that is you know, writing a 25,000 dollar check is a different job than a two 50 K check versus a 2.5 versus a twenty five million versus a two fifty …”
Batchu: Operators must be more risk-averse than VCs when picking startups
“An operator is actually a very undiversified investor, right? So your bar for selecting the company that you're going to spend a few years is very high. So you actually have to be a very good investor with a little bit more risk aversion than a typical investo…”
Batchu: Cap angel investments at 10 to 15% of liquid net worth
“You should just assume that you're probably going to lose most of your angel investment value and wouldn't put in, you know, more than 10 to 15% of your liquid net worth, right?”
Batchu: Institutional VC requires a different skill set than angel investing
“The skill set of being a successful VC in terms of like pricing and winning the allocation, and also honestly building really high conviction to drive to a smaller, you know number of deals that you really want to win is a completely different skill set than b…”
Batchu: Top VC firms create negative signaling risks if they skip follow-ons
“Most top tier firms are very ruthless when it comes to their own economics. They will not
Follow on or lead a subsequent round unless they really truly believe independently. That is a good decision for the company. And so a so it means just because you got th…”
Sri Batchu: Mid-career operators are the most helpful angels for founders
“I I've usually found, and this is consistent. If you talk to a lot of founders with that regularly use angels is the operators that are kind of more mid career actually are the ones that are most helpful to you on your cap table.”