The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 12 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Arielle Zuckerberg: Most VC Value-Add Is Dumb and Super Marginal
“I think most value add is dumb unless it's something we think about is documentary level value add. If you're not going to provide documentary level value add, then it like it doesn't matter and it's all super marginal.”
Banister: VC money is fungible; differentiation comes from ethics and values
“Well, if you think about it, all VCs are kind of, we have money, it's the same, right? It's not, the money's not different. So what makes us stand apart is our ethics, and who we are, and what we stand for, and our compass.”
Jacobs: Standard SaaS business models offer no investing alpha
“Not just like, hey, I've got a business plan, and I'm gonna go and sell SaaS, you know, things. It's gonna be nine 99, and people are gonna love it. Like, everyone says that. There's no alpha in that.”
Zuckerberg: Long Journey's Average Pre-Seed/Seed Entry Valuation Is Around $15M
“Our average entry valuation on the Precinct seed side is about 15, which I think is, is quite a bit lower than a lot of other folks out there and something we're very proud of.”
Zuckerberg: Scaling VC firms dilutes their authenticity and identity
“So I think, well, like, a lot of firms are really big now, and it's really hard to lean into that authenticity when you have more and more people, because it becomes, like, a watered-down version of, you know, what everyone is standing for.”
Zuckerberg: Unconventional personal lifestyles are a proxy for founder boldness
“I think these things are like a proxy for the examples I gave are like a proxy for people who live their lives differently and are, you know, Have the boldness to go after a really magically weird idea.”
Jacobs: Great companies look weird at the pre-seed and seed stage
“We've really honed in on what we think great companies look like at the time in which we invest, which is the pre-seed and seed. We think they look quite weird at the time.”
Jacobs: Long Journey avoids hosting standard venture capitalist AI networking events
“We're never going to do an event that's like a boring AI event where it's like seven VCs and two founders and your job is to like talk about the future of AI”
Zuckerberg: Long Journey aims to invest up to $25M in breakout companies
“Our stated goal for this fund is that we are, we don't want to be afraid to put up to twenty five million dollars into our best companies, and that's over time. So, you know, our initial check, we're leading pre-seed and seed rounds. Let's call it with like a …”
Zuckerberg: VC Merch Should Resemble Concert Merch Over Patagonia Vests
“A lot of people have like the, you know, the classy logo and on like a Patagonia vest or something. I like to think about it more as merch than swag. So I find inspiration from like rock concerts, festivals, sports teams, like merch that you would purchase.”