Nick Chirls

Your junior partner, like a VP at Goldman, they are compensated and promoted based on money velocity, not money returns. What's an ideal company for that model? It's a company that requires insane amounts of capital, right? Like the foundation models are like a big, big VC firm's dream. They literally require billions and billions of dollars to go pie effectively NVIDIA GPUs.

Your junior partner, like a VP at Goldman, they are compensated and promoted based on money velocity, not money returns. What's an ideal company for that model? It's a company that requires insane amounts of capital, right? Like the foundation models are like a big, big VC firm's dream. They literally require billions and billions of dollars to go pie effectively NVIDIA GPUs.

Your junior partner, like a VP at Goldman, they are compensated and promoted based on money velocity, not money returns. What's an ideal company for that model? It's a company that requires insane amounts of capital, right? Like the foundation models are like a big, big VC firm's dream. They literally require billions and billions of dollars to go pie effectively NVIDIA GPUs.

What is the business model for large venture banks? Deployment. Yeah. Raise as much money as possible. Get that money out the door as soon as possible. Raise as much money again and rinse and repeat.

What is the business model for large venture banks? Deployment. Yeah. Raise as much money as possible. Get that money out the door as soon as possible. Raise as much money again and rinse and repeat.

What is the business model for large venture banks? Deployment. Yeah. Raise as much money as possible. Get that money out the door as soon as possible. Raise as much money again and rinse and repeat.

Thank you, Harry. It's a pleasure. We were just talking about this beforehand, but I think the last time we did this show together was almost 10 years ago.

Thank you, Harry. It's a pleasure. We were just talking about this beforehand, but I think the last time we did this show together was almost 10 years ago.

Thank you, Harry. It's a pleasure. We were just talking about this beforehand, but I think the last time we did this show together was almost 10 years ago.

We're launching Asylum this week. I decided to do a completely insane thing and start an entirely new venture firm about 10 years into Notation. I ultimately felt like Notation was built for a moment in time. It was the first pre-seed firm in New York and one of the first pre-seed firms in the US.

We're launching Asylum this week. I decided to do a completely insane thing and start an entirely new venture firm about 10 years into Notation. I ultimately felt like Notation was built for a moment in time. It was the first pre-seed firm in New York and one of the first pre-seed firms in the US.

We're launching Asylum this week. I decided to do a completely insane thing and start an entirely new venture firm about 10 years into Notation. I ultimately felt like Notation was built for a moment in time. It was the first pre-seed firm in New York and one of the first pre-seed firms in the US.

And ultimately, I did not feel like it properly represented who I am and where I think the next 10 years or 15 years of venture go. You know this, Harry. A venture firm is a very personal expression of a GP or a set of GPs. And there's a new mission.

And ultimately, I did not feel like it properly represented who I am and where I think the next 10 years or 15 years of venture go. You know this, Harry. A venture firm is a very personal expression of a GP or a set of GPs. And there's a new mission.

And ultimately, I did not feel like it properly represented who I am and where I think the next 10 years or 15 years of venture go. You know this, Harry. A venture firm is a very personal expression of a GP or a set of GPs. And there's a new mission.

$55 million fund. We write 500K to $2 million checks. My mission is personal. I started my first job at a college that Lehman Brothers in 2007. It went bankrupt. I joke that the only good day at Lehman Brothers was the day it went bankrupt. I found startups in New York shortly afterwards around the financial crisis, and it was everything that Wall Street wasn't.

$55 million fund. We write 500K to $2 million checks. My mission is personal. I started my first job at a college that Lehman Brothers in 2007. It went bankrupt. I joke that the only good day at Lehman Brothers was the day it went bankrupt. I found startups in New York shortly afterwards around the financial crisis, and it was everything that Wall Street wasn't.

$55 million fund. We write 500K to $2 million checks. My mission is personal. I started my first job at a college that Lehman Brothers in 2007. It went bankrupt. I joke that the only good day at Lehman Brothers was the day it went bankrupt. I found startups in New York shortly afterwards around the financial crisis, and it was everything that Wall Street wasn't.

It was creative, and it wasn't all about the money. There were these young kids building all these creative new things on the internet. It was kind. It was nerdy. It was everything that Wall Street wasn't. I fell in love with it. Fast forward to 2021, I felt like basically all the same people from Lehman showed up. Highly transactional. all about the money.

It was creative, and it wasn't all about the money. There were these young kids building all these creative new things on the internet. It was kind. It was nerdy. It was everything that Wall Street wasn't. I fell in love with it. Fast forward to 2021, I felt like basically all the same people from Lehman showed up. Highly transactional. all about the money.