Nick Chirls

I'm not a scientist, but like those founders, they can explain that thing to anybody in simple terms. And they have to. It can't just be for the investor. It has to be for employees. It has to be for customers. You have to be able to explain the special, unique thing that you're doing that no one else understands yet.

I'm not a scientist, but like those founders, they can explain that thing to anybody in simple terms. And they have to. It can't just be for the investor. It has to be for employees. It has to be for customers. You have to be able to explain the special, unique thing that you're doing that no one else understands yet.

If you can't explain that and make me, a dummy, understand it, there's a bigger problem than just me not understanding it.

If you can't explain that and make me, a dummy, understand it, there's a bigger problem than just me not understanding it.

If you can't explain that and make me, a dummy, understand it, there's a bigger problem than just me not understanding it.

I have never found that any investment we've made ever, I've never seen any VC be truly the difference between success and failure of a company, period. You can maybe help around the edges. Would Coinbase not have been successful if they hadn't take money from Andreessen Horowitz and USV? No, I think they would have been just as successful.

I have never found that any investment we've made ever, I've never seen any VC be truly the difference between success and failure of a company, period. You can maybe help around the edges. Would Coinbase not have been successful if they hadn't take money from Andreessen Horowitz and USV? No, I think they would have been just as successful.

I have never found that any investment we've made ever, I've never seen any VC be truly the difference between success and failure of a company, period. You can maybe help around the edges. Would Coinbase not have been successful if they hadn't take money from Andreessen Horowitz and USV? No, I think they would have been just as successful.

I think there's no doubt those firms helped around the edges. They weren't the difference between success and failure of that company.

I think there's no doubt those firms helped around the edges. They weren't the difference between success and failure of that company.

I think there's no doubt those firms helped around the edges. They weren't the difference between success and failure of that company.

That may have helped maximize financial returns. That was not the difference between success and failure of that company.

That may have helped maximize financial returns. That was not the difference between success and failure of that company.

That may have helped maximize financial returns. That was not the difference between success and failure of that company.

160 billion of enterprise value yes but sure sure but like that enterprise value would have been created regardless the question is who does that enterprise value go to so that might have been a very financial financially savvy decision around accruing more of that 165 billion in enterprise value it was not the difference between whether or not that company would get to that value

160 billion of enterprise value yes but sure sure but like that enterprise value would have been created regardless the question is who does that enterprise value go to so that might have been a very financial financially savvy decision around accruing more of that 165 billion in enterprise value it was not the difference between whether or not that company would get to that value

160 billion of enterprise value yes but sure sure but like that enterprise value would have been created regardless the question is who does that enterprise value go to so that might have been a very financial financially savvy decision around accruing more of that 165 billion in enterprise value it was not the difference between whether or not that company would get to that value

Yeah, let me say one more thing on VC value add. And it's related to that question. And I think that there's different ways to define it. What I don't think moves the needle is services. I don't think that services, a business development team, a recruiter, et cetera, are actually going to be the difference between success, failure, or company. Now, I do believe that there is value.

Yeah, let me say one more thing on VC value add. And it's related to that question. And I think that there's different ways to define it. What I don't think moves the needle is services. I don't think that services, a business development team, a recruiter, et cetera, are actually going to be the difference between success, failure, or company. Now, I do believe that there is value.

Yeah, let me say one more thing on VC value add. And it's related to that question. And I think that there's different ways to define it. What I don't think moves the needle is services. I don't think that services, a business development team, a recruiter, et cetera, are actually going to be the difference between success, failure, or company. Now, I do believe that there is value.