Einar Vollset

Thanks for having me.

Thanks for having me.

There you go. It's nice to have you all to myself without Tracy interjecting with her blue sky nonsense.

There you go. It's nice to have you all to myself without Tracy interjecting with her blue sky nonsense.

Yeah, that sounds good. And also, I think it's just even if you're, you know, even if you're not going to go for tiny seeds, you're not investing in VC funds. I think it's helpful to understand, like, if you're thinking about funding, whether from tiny seeds or other people, I think it's worth understanding, like, what are the incentives?

Yeah, that sounds good. And also, I think it's just even if you're, you know, even if you're not going to go for tiny seeds, you're not investing in VC funds. I think it's helpful to understand, like, if you're thinking about funding, whether from tiny seeds or other people, I think it's worth understanding, like, what are the incentives?

How does this work on that end so that you understand what you're signing up for?

How does this work on that end so that you understand what you're signing up for?

Well, I think it makes sense. And also, this has always been my thing, a little bit of a sort of pet peeve thing is like, look, like some of the some of these purists on the sort of never raise any funding part is like they're never raising any funding.

Well, I think it makes sense. And also, this has always been my thing, a little bit of a sort of pet peeve thing is like, look, like some of the some of these purists on the sort of never raise any funding part is like they're never raising any funding.

Oh, is that because, you know, your wife works full time at Morgan Stanley and so basically can support you or you have rich parents or like, you know, you're basically wealthy. So, yeah, it actually sort of democratizes starting your own SaaS business a fair bit for those that don't necessarily sit on a bunch of cash.

Oh, is that because, you know, your wife works full time at Morgan Stanley and so basically can support you or you have rich parents or like, you know, you're basically wealthy. So, yeah, it actually sort of democratizes starting your own SaaS business a fair bit for those that don't necessarily sit on a bunch of cash.

Oh, yeah, for sure. I mean, yeah, I think it's just worth for people to think about. Like, I think sometimes people think, oh, investing in VC funds, you know, think Sequoia, Andreessen, whatever. And it's just like, oh, it's how you get 100x. You know, like you read about these outcomes and you think, you know, what is, you know, they're going to 100x.

Oh, yeah, for sure. I mean, yeah, I think it's just worth for people to think about. Like, I think sometimes people think, oh, investing in VC funds, you know, think Sequoia, Andreessen, whatever. And it's just like, oh, it's how you get 100x. You know, like you read about these outcomes and you think, you know, what is, you know, they're going to 100x.

The fact of the matter is, like, if you look at the sort of one of the golden sort of decades for venture investing in the US was the sort of decade between 2004 and 2014. It includes, you know, a bunch of like, you know, now well-known names came through that decade.

The fact of the matter is, like, if you look at the sort of one of the golden sort of decades for venture investing in the US was the sort of decade between 2004 and 2014. It includes, you know, a bunch of like, you know, now well-known names came through that decade.

And so you might think to yourself, like, well, you know, to be in the top quarter of performance of venture funds in terms of return capital in that quartile, you probably returned what? What do you think? Like 5x, 6x, some of that. In fact, the actual math is more like 2x. I think it's 2.16 or something.

And so you might think to yourself, like, well, you know, to be in the top quarter of performance of venture funds in terms of return capital in that quartile, you probably returned what? What do you think? Like 5x, 6x, some of that. In fact, the actual math is more like 2x. I think it's 2.16 or something.

So, you know, it was a 2.1x. And over the course of what, 7 to 10 years? Up to 10 years. Unreal. Yeah. Yeah, that's a top quartile fund.

So, you know, it was a 2.1x. And over the course of what, 7 to 10 years? Up to 10 years. Unreal. Yeah. Yeah, that's a top quartile fund.