Anish Acharya

Here's what I think.

Here's what I think.

I think we tend to consistently underestimate how big the markets are and consistently overestimate how easy it is to go from zero to one.

I think we tend to consistently underestimate how big the markets are and consistently overestimate how easy it is to go from zero to one.

I think when you squint, you can take something that's not working and say, I can see how it will work.

I think when you squint, you can take something that's not working and say, I can see how it will work.

And that is why, in my mind, seed investing is its own sort of art.

And that is why, in my mind, seed investing is its own sort of art.

I focus very much on the Series A because I believe that having shipped something and having sold something is such a dramatic signal.

I focus very much on the Series A because I believe that having shipped something and having sold something is such a dramatic signal.

To me, that is actually the optimal point in terms of information provided slash entry ownership and price, whereas at the seed, it could be anything.

To me, that is actually the optimal point in terms of information provided slash entry ownership and price, whereas at the seed, it could be anything.

Very, very difficult to get something working.

Very, very difficult to get something working.

Once you do get something working, I believe these companies tend to be even greater and greater versions of themselves for a long time to come.

Once you do get something working, I believe these companies tend to be even greater and greater versions of themselves for a long time to come.

And then I think the mistake that many venture capitalists have made is just not estimating the market to be as big as it is.

And then I think the mistake that many venture capitalists have made is just not estimating the market to be as big as it is.

Deal and 11, I'm sorry.

Deal and 11, I'm sorry.