Marc Andreessen

And I think that that works pretty well.

And I think that that works pretty well.

Yes, and it is, and the reason for that, twofold.

Yes, and it is, and the reason for that, twofold.

One is just the conceptual kind of reasons that I described, but the other is just on pure economics, it is.

One is just the conceptual kind of reasons that I described, but the other is just on pure economics, it is.

Because, as you know, the upside on the $5 million check is every bit as big as the upside on a $500 million growth investment.

Because, as you know, the upside on the $5 million check is every bit as big as the upside on a $500 million growth investment.

And this is what's so unusual about venture.

And this is what's so unusual about venture.

If I make a $5 million seed investment and I nail it, I can make $10 billion on that, $100 billion on that.

If I make a $5 million seed investment and I nail it, I can make $10 billion on that, $100 billion on that.

If I make a $500 million growth investment and I nail it, I can make $10 billion or $100 billion on it.

If I make a $500 million growth investment and I nail it, I can make $10 billion or $100 billion on it.

You see what I'm saying?

You see what I'm saying?

It's the same upside.

It's the same upside.

Yeah, so look, the enterprise definitely matters in particular as you go, in particular as the company grows in size.

Yeah, so look, the enterprise definitely matters in particular as you go, in particular as the company grows in size.