Einar Vollset

He was one of the main ones there in his day.

He was one of the main ones there in his day.

Yeah, and I think, you know, I think like, I know for a fact, that's sort of what YC, you know, partly why YC started. It's like, because it was, it used to be kind of like, how do you, how do you get access to this? It's like, and it was like, oh, you know, my dad plays golf with this lawyer who can get you an intro and then you can get like, but like.

Yeah, and I think, you know, I think like, I know for a fact, that's sort of what YC, you know, partly why YC started. It's like, because it was, it used to be kind of like, how do you, how do you get access to this? It's like, and it was like, oh, you know, my dad plays golf with this lawyer who can get you an intro and then you can get like, but like.

I think in part, that's why, like, you know, VC started out so geographic and remain to this day so geographically concentrated because sort of what it was like, like you'd get everyone was sort of there and you had to kind of be there. You had to be in Silicon Valley in order to get money. And like you had to have those connections and be able to work a warm intro.

I think in part, that's why, like, you know, VC started out so geographic and remain to this day so geographically concentrated because sort of what it was like, like you'd get everyone was sort of there and you had to kind of be there. You had to be in Silicon Valley in order to get money. And like you had to have those connections and be able to work a warm intro.

I mean, that's still the case for the cases people like, you know, figure out a way to get an intro to me. That's turtle number one kind of thing. So for sure, that's that's been that's been part of it.

I mean, that's still the case for the cases people like, you know, figure out a way to get an intro to me. That's turtle number one kind of thing. So for sure, that's that's been that's been part of it.

Well, I mean, there's a couple of different things here. And actually, like a billion, to a degree, like a billion dollars is apparently too small even in some cases. Like there was actually, I think it was Sam Altman who wrote a piece, you know, Mr. OpenAI, but used to be president of YC. He wrote a piece, How to Invest in Startups. And I think that was like 2018, 2016, something like that.

Well, I mean, there's a couple of different things here. And actually, like a billion, to a degree, like a billion dollars is apparently too small even in some cases. Like there was actually, I think it was Sam Altman who wrote a piece, you know, Mr. OpenAI, but used to be president of YC. He wrote a piece, How to Invest in Startups. And I think that was like 2018, 2016, something like that.

And his main point in that article, which I still think is up, was, you know, you shouldn't invest in anything Unless it can be $20 billion or more. Like, you know, just don't even waste your time unless you think it can be a $20 billion exit. And, like, I mean, that article was in part the reason why, like, TinySeed became a thing. Because, like... That's crazy. It is.

And his main point in that article, which I still think is up, was, you know, you shouldn't invest in anything Unless it can be $20 billion or more. Like, you know, just don't even waste your time unless you think it can be a $20 billion exit. And, like, I mean, that article was in part the reason why, like, TinySeed became a thing. Because, like... That's crazy. It is.

You know, that's that, like, I get it. Like he's, he's talking his own book at the time, you know, like that totally makes sense. Like if you're, if you have a lot of, if you have a lot of AUM, a lot of money to put on, you know, like, and you're, you're writing big checks and big outcomes and this is where you're To a degree, like, okay, it doesn't matter. Like, entry price doesn't matter.

You know, that's that, like, I get it. Like he's, he's talking his own book at the time, you know, like that totally makes sense. Like if you're, if you have a lot of, if you have a lot of AUM, a lot of money to put on, you know, like, and you're, you're writing big checks and big outcomes and this is where you're To a degree, like, okay, it doesn't matter. Like, entry price doesn't matter.

Valuation doesn't matter. Like, you just got to find that thing that goes to $20 billion, right? That's the whole game. And while that's true, like, if you're playing that game, then that's how you should be playing that game. Effectively, our argument was like, look. There's got to be a way in which founders and investors can both succeed where outcomes are not quite $20 billion.

Valuation doesn't matter. Like, you just got to find that thing that goes to $20 billion, right? That's the whole game. And while that's true, like, if you're playing that game, then that's how you should be playing that game. Effectively, our argument was like, look. There's got to be a way in which founders and investors can both succeed where outcomes are not quite $20 billion.

You know, like I think most of the people, you know, listening to this would agree that like a $75 million or $100 million exit, even if it's like selling to some lowly private equity fund. That's pretty good.

You know, like I think most of the people, you know, listening to this would agree that like a $75 million or $100 million exit, even if it's like selling to some lowly private equity fund. That's pretty good.

I think a lot of people listening to this will think to themselves, yeah, if I owned 80, 90% of a company and sold for $75 million, I'd be having a pretty good Christmas right about now, if that's what was happening. And so effectively, what we're thinking with TinySeed is like, look, there's got to be a way where you can have that be success and everybody makes out well.

I think a lot of people listening to this will think to themselves, yeah, if I owned 80, 90% of a company and sold for $75 million, I'd be having a pretty good Christmas right about now, if that's what was happening. And so effectively, what we're thinking with TinySeed is like, look, there's got to be a way where you can have that be success and everybody makes out well.