David Frankel

speaker

1,234 appearances 4 recordings 3 series first heard Oct 2024 last heard 8 Aug

David Frankel’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in May 2026 with 2.

Appearances

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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · 20VC: The AI Boom Will Create Enormous Roadkill: Who Wins & Loses | Why Founders Should Never Take Multi-Stage Money at Seed | Why Triple, Triple, Double, Double is Good Enough · 8 Aug 2026 podcast

Like I think there is a the business of venture, which is asset management and this channel, right?

So you've got the Cambridge Associates and you've got the fund of funds, and all they're doing is selling access and they're they're fine with it.

And if the you name it, top ten, top five names are not in XYZ great, great company, and I would say at this point, if you're not like in the top five, if you missed the at a certain level, if you missed the three trillion dollar companies, you're much harder to sell.

So it's not trillion dollar robust, but like if you look at the numbers over the last twenty five years of how many companies were created that are over

Billion dollars, there were less than a hundred companies over the last 25 years, less than a hundred that are sustainably over $10 billion companies.

So at that top end, you've got to be in that.

The median company, we've done a lot of work on this very recently.

Of the top 500 companies created in the last 25 years, the median is 2.6 billion.

Now, if you own 5% of one of those

Companies, you return the fund each time.

And I would say what's gone on in seed is like there are a whole bunch of unreasonable bets being taken with loads of funds and loads of money.

And it's quick because you know you've got to get the check in because you've got to get to the next fund.

So it's incredibly tough at seed.

What makes this still a great business is it's a little bit of what I said about you is you can wait and wait.

And wait and wait if you're patient.

And then you just see someone, right?

You see a founder or you see a team and you just go, I have to be there.

And to me, that's code for this may just be another Uber, another Suno, another Shield AI.

And I think a little bit, I'm answering this personally, a little bit of this is a drug.

Finding Harry, right?

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