Nick Chirls

Like these are toxic, toxic. toxic little people in your head. I've learned to listen to them and understand where I'm at and to be patient. So I've made some mistakes there. I think I've made some mistakes around, we talked about valuation. I think I've made some mistakes about being too precious. around valuation.

There's a big difference between a $5 million post and a $25 million post like that. I think you need to really think about and consider if it's five or eight and it means you potentially, you know, winning the investment or co-leading or whatever. You don't need to overthink those.

There's a big difference between a $5 million post and a $25 million post like that. I think you need to really think about and consider if it's five or eight and it means you potentially, you know, winning the investment or co-leading or whatever. You don't need to overthink those.

There's a big difference between a $5 million post and a $25 million post like that. I think you need to really think about and consider if it's five or eight and it means you potentially, you know, winning the investment or co-leading or whatever. You don't need to overthink those.

And I think there was a stage in my career earlier on where I got too into the minutia around, is it five or five and a half or 10 or 11? Like these small differences do not matter long-term. If it's a 2X or a 4X or a 5X different, five or 25, then like that matters. And you should give that some thought. And I do think you need to have the tool in your tool belt to be able to pass on valuation.

And I think there was a stage in my career earlier on where I got too into the minutia around, is it five or five and a half or 10 or 11? Like these small differences do not matter long-term. If it's a 2X or a 4X or a 5X different, five or 25, then like that matters. And you should give that some thought. And I do think you need to have the tool in your tool belt to be able to pass on valuation.

And I think there was a stage in my career earlier on where I got too into the minutia around, is it five or five and a half or 10 or 11? Like these small differences do not matter long-term. If it's a 2X or a 4X or a 5X different, five or 25, then like that matters. And you should give that some thought. And I do think you need to have the tool in your tool belt to be able to pass on valuation.

But I'm saying the very early days of notation. I was about to say like shit. Those are rare these days. No, these are rare these days.

But I'm saying the very early days of notation. I was about to say like shit. Those are rare these days. No, these are rare these days.

But I'm saying the very early days of notation. I was about to say like shit. Those are rare these days. No, these are rare these days.

We've talked about various versions of this, but I believe actually the less institutional and banker-like you can look to founders over the next decade, the more likely you are to win. So I think that most of venture is deeply focused on becoming institutional. It feels more professional. The more you can avoid that in the next 10 years, the better.

We've talked about various versions of this, but I believe actually the less institutional and banker-like you can look to founders over the next decade, the more likely you are to win. So I think that most of venture is deeply focused on becoming institutional. It feels more professional. The more you can avoid that in the next 10 years, the better.

We've talked about various versions of this, but I believe actually the less institutional and banker-like you can look to founders over the next decade, the more likely you are to win. So I think that most of venture is deeply focused on becoming institutional. It feels more professional. The more you can avoid that in the next 10 years, the better.

Which venture investor do you most respect and learn from? This has changed over time, but right now, probably Andy Weissman and Bryce Roberts. I think they represent many of the things that I just described about being the alternative to the big AUM firms. They think independently and they have the guts to be themselves and do it their own way.

Which venture investor do you most respect and learn from? This has changed over time, but right now, probably Andy Weissman and Bryce Roberts. I think they represent many of the things that I just described about being the alternative to the big AUM firms. They think independently and they have the guts to be themselves and do it their own way.

Which venture investor do you most respect and learn from? This has changed over time, but right now, probably Andy Weissman and Bryce Roberts. I think they represent many of the things that I just described about being the alternative to the big AUM firms. They think independently and they have the guts to be themselves and do it their own way.

Most contrarian or unorthodox advice for founders listening? Don't do a startup unless you absolutely need to and find a person that you truly trust to either do that with as a co-founder or with your first investor.

Most contrarian or unorthodox advice for founders listening? Don't do a startup unless you absolutely need to and find a person that you truly trust to either do that with as a co-founder or with your first investor.

Most contrarian or unorthodox advice for founders listening? Don't do a startup unless you absolutely need to and find a person that you truly trust to either do that with as a co-founder or with your first investor.

Selecting, sourcing, and servicing in that order. Why? Why? From a selection perspective, I think that I've 12 or 13 years of data now of hands played that I can go back to. And I think I've learned a thing or two there. And I also think I'm just more patient than 90% of VCs in the market. What's been your biggest miss, Nick?