The Ledger
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Lee: Mega-funds give junior VCs $2M-$4M checkbooks as training wheels
“There's a lot of, like, basically, as these funds got bigger, they had more fee income. And so they could feed more mouths. And they would hire younger people and say, you have a checkbook. Like, you don't have a big checkbook like I have. Like, you know, the …”
Lee: Downturn Years Are Historically the Best Times to Found Unicorns
“When we did the original unicorn analysis, we looked at kind of vintage birth years, and like what were the best years to start or found a unicorn, and generally downturn Years are the best years.”
Lee: Path to Profitability Conversations Only Start Post-Series B
“I think like once you're past post-series B, that's when you're having the conversation about at your board, with your board and then your investors about path to profitability, I would say.”
Lee: Series A Startups Now Need $5M to $10M Revenue Before Series B
“And then A is really like, you know, can you get from, you know, let's say you know, from post seed, let's say if you're at a million and a half or two million dollars when you raise your A, then you probably need to get to between five and 10 in revenue durin…”
Lee: Self-serve PLG startups can afford longer pre-revenue development than sales-led
“If you don't, if you can have self-serve and you don't have to spend any money on AEs or customer acquisition, then you can spend a lot of time building the product and then it'll fly off the shelves. If you have a product that has to be sold, it's a lot harde…”