Mark Goldberg

Yeah, I think both can be true. I think there can both be a shakeout that is already happening in terms of the amount of dollars. And I think there can be a turnover between an old guard and a new guard. And I think you and some other funds I respect represent that next chapter and what a new guard. But I think there's a moment.

Yeah, I think both can be true. I think there can both be a shakeout that is already happening in terms of the amount of dollars. And I think there can be a turnover between an old guard and a new guard. And I think you and some other funds I respect represent that next chapter and what a new guard. But I think there's a moment.

Yeah, I think both can be true. I think there can both be a shakeout that is already happening in terms of the amount of dollars. And I think there can be a turnover between an old guard and a new guard. And I think you and some other funds I respect represent that next chapter and what a new guard. But I think there's a moment.

And I don't think that moment existed three years ago, five years ago, even 10 years ago. And I think it's happening now.

And I don't think that moment existed three years ago, five years ago, even 10 years ago. And I think it's happening now.

And I don't think that moment existed three years ago, five years ago, even 10 years ago. And I think it's happening now.

No, I'm not. First off, I think products will evolve to create liquidity for those late stage private companies that give liquidity options to early stage investors. So I think the market will evolve. So just because companies are staying private longer doesn't mean I think the liquidity duration will be as long as it is today. I think we'll see innovation in that area.

No, I'm not. First off, I think products will evolve to create liquidity for those late stage private companies that give liquidity options to early stage investors. So I think the market will evolve. So just because companies are staying private longer doesn't mean I think the liquidity duration will be as long as it is today. I think we'll see innovation in that area.

No, I'm not. First off, I think products will evolve to create liquidity for those late stage private companies that give liquidity options to early stage investors. So I think the market will evolve. So just because companies are staying private longer doesn't mean I think the liquidity duration will be as long as it is today. I think we'll see innovation in that area.

So there'll be more secondary opportunities for early stage investors. I mean, my belief is the capital markets will create new products to solve for that. I do think that you need to have a long-term outlook in this industry. And even when I started fundraising, I thought the duration of a fund was 10 years.

So there'll be more secondary opportunities for early stage investors. I mean, my belief is the capital markets will create new products to solve for that. I do think that you need to have a long-term outlook in this industry. And even when I started fundraising, I thought the duration of a fund was 10 years.

So there'll be more secondary opportunities for early stage investors. I mean, my belief is the capital markets will create new products to solve for that. I do think that you need to have a long-term outlook in this industry. And even when I started fundraising, I thought the duration of a fund was 10 years.

And I was surprised to learn that many of the LPs said we rarely see closed funds before 15 years. Just you have to have kind of the stomach to be in this for a long time.

And I was surprised to learn that many of the LPs said we rarely see closed funds before 15 years. Just you have to have kind of the stomach to be in this for a long time.

And I was surprised to learn that many of the LPs said we rarely see closed funds before 15 years. Just you have to have kind of the stomach to be in this for a long time.

I was very fortunate to join the venture industry at the end of 2015, early 2016. And I'm very grateful to have been at a fund that did really well in those vintages and was able to get some liquidity. So I'm fortunate that I've seen that.

I was very fortunate to join the venture industry at the end of 2015, early 2016. And I'm very grateful to have been at a fund that did really well in those vintages and was able to get some liquidity. So I'm fortunate that I've seen that.

I was very fortunate to join the venture industry at the end of 2015, early 2016. And I'm very grateful to have been at a fund that did really well in those vintages and was able to get some liquidity. So I'm fortunate that I've seen that.

It's a very what I would say is I don't think those funds will do very well. I mean, the vintage is going to be very, very challenged. Will it be a 1x? I don't know. I think it'll be better than a 1x. Maybe they're going to be tough funds.

It's a very what I would say is I don't think those funds will do very well. I mean, the vintage is going to be very, very challenged. Will it be a 1x? I don't know. I think it'll be better than a 1x. Maybe they're going to be tough funds.