Bill Maris
speaker
608 appearances
2 recordings
2 series
first heard Jun 2026
last heard 9 Jun
Bill Maris’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
And then all of the others I mentioned that kind of underlay the AI revolution, which are the physics engines and the controllers and the GPUs and everything that it's going to take to
to get us there.
I think the problem with that is we have to look at the incentive structure of venture.
So a...
$5 billion venture fund that returns 1.01x gets to say that they are in the 75th percentile and can raise their next fund, and no one at the Stanford Endowment is going to get in trouble for writing that check.
They need to put $200 or $500 million into a fund multiple times.
So I understand that dynamic.
So now let's look at the GP dynamic.
Well, if I have a $5 billion fund, I return 1.01x, I'm going to make more money than Bill with his $500 million fund that returns 3x.
So that's also a strange incentive.
So now let's look at the entrepreneur side.
I am researcher X from OpenAI.
I'm going to start a company.
Bill says, I'll give you $20 million at $100 million valuation.
I want to buy 20% of your company.
Giant Fund Y, we're friends, it's a different model, but Giant Fund Y says, well, we have this giant fund, we need to put 250 million in.
And then an entrepreneur says, well, my company's valuation is 100.
No, your valuation is now four billion, and we'll give you 250 million for a percent of your company.
They're going to take that deal every day.
Unless you're a seasoned entrepreneur who has kind of been down the road and knows the pitfalls of that.
Showing 281–300 of 608 · page 15 of 31
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