Hunter Walk explains why Homebrew chose not to submit information for Forbes' Midas List ranking, citing privacy concerns and internal deal attribution requirements.
Insight
Walk: Underperforming VC funds take a decade or more to exit
“It takes, you know, a decade or more, you know, barring a real firm, you know, a partnership breakup or you know, something illegal, you know, right? Like it takes a decade or more for a underperforming fund To actually exit the market.”
Insight
Hunter Walk: Only 5% of VCs are exceptional and 5% are horrible
“And then you get inside the industry and you realize like, actually it's a single hump. There's five percent of VCs who are really, really good at what they do. And even part of that is self-awareness, right? Oh, I'm best in these situations and this stage of …”
Opinion
Walk: Raising larger venture funds without structural planning hurts LPs and founders
“Like all of those are implications that I think actually when venture firms don't consider and they just raise more money and then figure it out as they go, like are bad for LPs and bad for founders and thus bad for those firms.”
Assertion Not checkable as stated
Hunter Walk: Homebrew's 2013 fund ranks in the top one percent
“Like, even if that fund didn't return another dollar, we'd be like a top one percent fund, and fortunately, it's gonna return more dollars.”
Prediction Not checkable as stated
Walk: Differentiated new venture managers will eat mediocre firms' lunch
“I think it's a great time to be a differentiated quote unquote new manager, right? They are going to eat the lunch of mediocre firms, you know, slow moving firms.”
Insight
Walk: Giving different pitches to founders and LPs is duplicitous
“To the extent that those answers, the answers you would tell a founder are different than what you tell an LP. I think at best it's confusing and at worst it's duplicitous, right? Like you're sort of somebody's the rube, right?”