Harry Stebbings

And so a winning strategy respectfully is back amazing founders with unique insights and go long.

And so a winning strategy respectfully is back amazing founders with unique insights and go long.

Yeah, I remember Bruce Dunleavy, I said to him once, so, what do you think of all of these transitions in the industry and how difficult it is? He said, venture is an incredibly simple business. Yeah. Very hard. Very simple. Very simple. And I always kind of go back to that. So like that's not the right way to do it. You mentioned that kind of principles and associates running firms totally agree.

Yeah, I remember Bruce Dunleavy, I said to him once, so, what do you think of all of these transitions in the industry and how difficult it is? He said, venture is an incredibly simple business. Yeah. Very hard. Very simple. Very simple. And I always kind of go back to that. So like that's not the right way to do it. You mentioned that kind of principles and associates running firms totally agree.

Yeah, I remember Bruce Dunleavy, I said to him once, so, what do you think of all of these transitions in the industry and how difficult it is? He said, venture is an incredibly simple business. Yeah. Very hard. Very simple. Very simple. And I always kind of go back to that. So like that's not the right way to do it. You mentioned that kind of principles and associates running firms totally agree.

Is it not also just the explosion of startups that we actually have, meaning we need simple heuristics to gauge yes or no, worth meeting, not worth meeting. There are so many companies. If you don't have a framework for is it interesting enough, you're just going to be meeting everyone.

Is it not also just the explosion of startups that we actually have, meaning we need simple heuristics to gauge yes or no, worth meeting, not worth meeting. There are so many companies. If you don't have a framework for is it interesting enough, you're just going to be meeting everyone.

Is it not also just the explosion of startups that we actually have, meaning we need simple heuristics to gauge yes or no, worth meeting, not worth meeting. There are so many companies. If you don't have a framework for is it interesting enough, you're just going to be meeting everyone.

When you reflect back on your prior portfolio in the last decade, was that a pattern matchy approach that was successful?

When you reflect back on your prior portfolio in the last decade, was that a pattern matchy approach that was successful?

When you reflect back on your prior portfolio in the last decade, was that a pattern matchy approach that was successful?

Do you agree with Doug Leone that we have seen the transition of venture from a high margin village community to a low margin commoditized industry?

Do you agree with Doug Leone that we have seen the transition of venture from a high margin village community to a low margin commoditized industry?

Do you agree with Doug Leone that we have seen the transition of venture from a high margin village community to a low margin commoditized industry?

I would argue actually they're in the same vein as Spark, actually, which is kind of sitting in the middle. Like, their seed fund is $190 million. Yeah, that's what I was going to say. Their growth funds are like a billion and a half or two. Don't get me wrong. It's a huge amount of money combined, as is Spark, by the way. I'm not going to let you just get away with that one.

I would argue actually they're in the same vein as Spark, actually, which is kind of sitting in the middle. Like, their seed fund is $190 million. Yeah, that's what I was going to say. Their growth funds are like a billion and a half or two. Don't get me wrong. It's a huge amount of money combined, as is Spark, by the way. I'm not going to let you just get away with that one.

I would argue actually they're in the same vein as Spark, actually, which is kind of sitting in the middle. Like, their seed fund is $190 million. Yeah, that's what I was going to say. Their growth funds are like a billion and a half or two. Don't get me wrong. It's a huge amount of money combined, as is Spark, by the way. I'm not going to let you just get away with that one.

But it's not the mega mega. That's right. So I think they kind of sit in the middle. But do you agree that it's moved to this low margin commoditized industry?

But it's not the mega mega. That's right. So I think they kind of sit in the middle. But do you agree that it's moved to this low margin commoditized industry?

But it's not the mega mega. That's right. So I think they kind of sit in the middle. But do you agree that it's moved to this low margin commoditized industry?