Gili Raanan

speaker

558 appearances 2 recordings 2 series first heard Mar 2025 last heard 28 Mar

Gili Raanan’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Mar 2026 with 1.

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So the expectation that the venture business would work out is set yourself for disappointment from the get-go.

It doesn't work.

Now, it worked for some people.

It worked for some people for some time, and the number of people it works for them for a long period of time.

Let's take our favorite friends from Sequoia Capital or Andreessen, Benchmark, Greylock, Lightspeed.

That number of players is super small.

And if you look at all amount of money that's flowing into the markets right now and for the past few years, no, I don't think it's going to work.

I think it's going to end up with some serious catastrophe for many of the players.

If I'm a limited partner and I have distributed my venture allocation evenly, I wouldn't sleep well at night.

Cybersecurity is probably an interesting enough market to talk about and it's sizable enough market to talk about.

And the flow of new players into cybersecurity is quite steady for the past, I would say, 20 years.

You know, you're looking at around 350, 400 new teams that get funded every year.

across US, Israel, a little bit in Europe, unfortunately, you know, it should be more.

That number, that's 100% of the cybersecurity universe.

So think about it like the past decade, there were about 4,000 new cybersecurity startups.

And in the next decade, there'll be probably four to five, maybe 1,000 cybersecurity startups in the world.

A large number.

And over the past few years, the entry price, as you rightfully mentioned, is going up.

When I wrote the first check to Safra Popo at Adalom, at the first company they started in 2012, it was done at $15 million post, $5 million check.

At TWIZ in 2019, I wrote a $6 million seed check at $66 million post money.

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