LPs

“As a venture fund, all of your marketing should be towards founders, which is one customer, and then, you know LPs, which is your other customer.”

“Midweek, Laps at your local, you know, ski resort are a great way to meet LPs, other investors, some later stage founders, maybe.”

“Now we're at this prisoner's dilemma where it would be theoretically a great time for everyone to lean in if other people backed out because then prices would depress, but everyone's staying in. And so it's actually leading to prices staying elevated”

“If you leave a firm, then they don't let you back in the next fund. Like you don't get the cherry pick. Okay. I'm going to be a part of this vintage but not that vintage for the most part with the blue chip names.”

“If you're running a fifty billion dollar venture fund, you can't possibly be deploying that well early, right? And actually you're paid to move gross dollars.”

“Existing LPs as you guys probably know, you want to get to know institutional folks years before they invest, or that's the expectation that they know you for a super long time.”

“I do not think anyone should inject peptides that are labeled as for research purposes only because even if it says 99% purity, the one percent is likely to be something called LPS, lipopolysaccharide, which can cause inflammation. It's not a good thing to be …”

“LPs are not talked a lot about in venture, which is kind of interesting. Like we talked a lot about the founder. We talked a lot about the companies, but I would say for us, we are pretty clear that our customer at the end of the day is our LPs.”