Mark Goldberg

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.

Well, I think we're already seeing some of the oxygen being sucked out of those companies. I think as you talk about your frustration with founders choosing to kind of raise at terms that feel unreasonable, I think we're seeing the other side of that, which is many companies wish that they'd taken a more graduated approach to their fundraising.

Well, I think we're already seeing some of the oxygen being sucked out of those companies. I think as you talk about your frustration with founders choosing to kind of raise at terms that feel unreasonable, I think we're seeing the other side of that, which is many companies wish that they'd taken a more graduated approach to their fundraising.

Well, I think we're already seeing some of the oxygen being sucked out of those companies. I think as you talk about your frustration with founders choosing to kind of raise at terms that feel unreasonable, I think we're seeing the other side of that, which is many companies wish that they'd taken a more graduated approach to their fundraising.

Because the momentum, the cultural momentum, and I've got some companies that that have been very thoughtful in this and deliberate in this effort, the momentum you lose when a fund when the employees know that the valuation isn't realistic, I think really hurts the morale and hurts the ability of the company to kind of do its best work.

Because the momentum, the cultural momentum, and I've got some companies that that have been very thoughtful in this and deliberate in this effort, the momentum you lose when a fund when the employees know that the valuation isn't realistic, I think really hurts the morale and hurts the ability of the company to kind of do its best work.

Because the momentum, the cultural momentum, and I've got some companies that that have been very thoughtful in this and deliberate in this effort, the momentum you lose when a fund when the employees know that the valuation isn't realistic, I think really hurts the morale and hurts the ability of the company to kind of do its best work.

So I think really deliberate founders that don't overstretch, actually, you know, you're kind of seeing the advantage of that, but everybody has to kind of go their own path. So

So I think really deliberate founders that don't overstretch, actually, you know, you're kind of seeing the advantage of that, but everybody has to kind of go their own path. So

So I think really deliberate founders that don't overstretch, actually, you know, you're kind of seeing the advantage of that, but everybody has to kind of go their own path. So

Yep. How's that working for you?

Yep. How's that working for you?

Yep. How's that working for you?

Are you seeing bigger or smaller numbers than you expected? Smaller. I mean, that's amazing.

Are you seeing bigger or smaller numbers than you expected? Smaller. I mean, that's amazing.

Are you seeing bigger or smaller numbers than you expected? Smaller. I mean, that's amazing.

Yeah. I mean, I think it at least changes the tone of the conversation from one of this is a zero sum game where the valuation is a reflection of my self-worth and kind of a scoreboard win to one of let's put this in the perspective of a long term journey. So I think it's, you know, I think it's a really interesting framing you're giving the founders of let's think about this in a different way.

Yeah. I mean, I think it at least changes the tone of the conversation from one of this is a zero sum game where the valuation is a reflection of my self-worth and kind of a scoreboard win to one of let's put this in the perspective of a long term journey. So I think it's, you know, I think it's a really interesting framing you're giving the founders of let's think about this in a different way.

Yeah. I mean, I think it at least changes the tone of the conversation from one of this is a zero sum game where the valuation is a reflection of my self-worth and kind of a scoreboard win to one of let's put this in the perspective of a long term journey. So I think it's, you know, I think it's a really interesting framing you're giving the founders of let's think about this in a different way.

No, of course. But it's a little bit of mental jujitsu, which I will think hard on.