David Weisburd

And why is there this idea that each single check has to return the fund?

Where does this theory come from?

can a fund get to a 5X without a power law outcome?

And is that what you're looking for, which is if this fund manager is not lucky, can he or she get to a 5X?

Yeah.

Let's talk about that.

You look at venture almost as two different asset classes, which is the small funds and these multi-stage funds.

One is, when did you start looking at venture in that manner and how do you see it today?

So maybe we- Yeah, tell me about that.

So you guys, and it seems like it would be obvious that most LPs would have this, but you guys are quite different that you have a sourcing team that's separate from the investment team.

Tell me about the function of that and what should somebody that wants to build a sourcing team, what's some best practices?

Yeah.

You evaluate your GPs on sourcing, picking, and winning.

As an LP, what is the one part of sourcing, picking, and winning that is most important to being an elite investor?

Again, just play devil's advocate.

I would argue that GPs have to win hyper-competitive deals.

Oftentimes they're the lead or the second position.

There's only so many investors in a round.

In LP, it seems like there's room for multiple winners.

Support for today's episode comes from Square, the all-in-one way for business owners to take payments, book appointments, manage staff, and keep everything running in one place.