Gokul Rajaram

speaker

1,839 appearances 2 recordings 2 series first heard Jan 2026 last heard 16 Mar

Gokul Rajaram’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 — 2 in all, peaking in Mar 2026 with 1.

Appearances

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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · 20VC: The 8 Moats of Enduring Software Companies: How to Analyse for Durability and Defensibility in a World of AI | Why Dropouts are "AI Maxing" the World & Remote Early-Stage Companies are Dying with Gokul Rajaram · 16 Mar 2026 podcast

I mean, that is a venture firm.

And so you've got to look at go-forward IRR and your projection.

If your go-forward IRR at every liquidity opportunity is lower than what you're basically promising your LPs or what you think your fund should have, I think you should sell.

I think you have an obligation to your LPs to at least sell.

I like Fred Wilson's strategy around selling, which is sell a third, hold a third, and trade a third.

This is when the asset is completely liquid.

But in this case, I think you want to sell at least part of it, especially if the asset is a company that will return a chunk of your fund.

So if it's going to return 20%, 30%, 40% of your fund, you owe it your LPs to sell a piece of it, especially if the go-forward IRR is not compelling.

Exactly.

And you don't have... Exactly.

And that's another uncertainty.

So I do think the secondary markets have been one of the best or most interesting developments over the last few years.

And so now all these great companies have pretty liquid secondary markets where you can sell shares.

Obviously, there's Rofer and so on the company has.

I do think there are these hyper liquid periods in the market.

Now is one of them.

So I do think...

One should be very careful and thoughtful about what the go-forward IRR is for any asset one owns and really think carefully about whether one should sell or not.

Pattern matching too much.

I think a good example is Quince recently raised $10 billion.

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