Nick Chirls

You don't have to make a single dollar and you take 20% out of the capital raised and you put it in the pockets of mostly employees that work there. The other thing I would actually say is I've never understood why venture doesn't have a hurdle that exists in most other private asset classes. You can do reasonably well and not even do as well as the NASDAQ and the S&P and you're still making money.

You don't have to make a single dollar and you take 20% out of the capital raised and you put it in the pockets of mostly employees that work there. The other thing I would actually say is I've never understood why venture doesn't have a hurdle that exists in most other private asset classes. You can do reasonably well and not even do as well as the NASDAQ and the S&P and you're still making money.

What is a better solution than Nick? A budget system? That's a really good question. I think a lot about how many VCs would be doing this if they had to actually pay back the management fees if they didn't make any money. Like how many VCs would be confident enough?

What is a better solution than Nick? A budget system? That's a really good question. I think a lot about how many VCs would be doing this if they had to actually pay back the management fees if they didn't make any money. Like how many VCs would be confident enough?

What is a better solution than Nick? A budget system? That's a really good question. I think a lot about how many VCs would be doing this if they had to actually pay back the management fees if they didn't make any money. Like how many VCs would be confident enough?

Yeah, but the job is to make money. The job is to perform, right? So, like, if you're in a non-financialized job.

Yeah, but the job is to make money. The job is to perform, right? So, like, if you're in a non-financialized job.

Yeah, but the job is to make money. The job is to perform, right? So, like, if you're in a non-financialized job.

If you have a long track record of producing returns for your investors, I think you have arguments to charge a certain rate. Like, I mean, you can take Renaissance. That's probably a very good example. I think famously they had, they charged like 70% carry and produced by the way, like net to LP is like 60% or whatever, some insane rate of return.

If you have a long track record of producing returns for your investors, I think you have arguments to charge a certain rate. Like, I mean, you can take Renaissance. That's probably a very good example. I think famously they had, they charged like 70% carry and produced by the way, like net to LP is like 60% or whatever, some insane rate of return.

If you have a long track record of producing returns for your investors, I think you have arguments to charge a certain rate. Like, I mean, you can take Renaissance. That's probably a very good example. I think famously they had, they charged like 70% carry and produced by the way, like net to LP is like 60% or whatever, some insane rate of return.

The reality is like most venture firms don't make money.

The reality is like most venture firms don't make money.

The reality is like most venture firms don't make money.

We did. Present that to LPs and don't take a single dollar above it. Is that what you did? I don't pay myself at Asilo. You don't pay yourself? I'm putting every single dollar into hiring people and building the firm.

We did. Present that to LPs and don't take a single dollar above it. Is that what you did? I don't pay myself at Asilo. You don't pay yourself? I'm putting every single dollar into hiring people and building the firm.

We did. Present that to LPs and don't take a single dollar above it. Is that what you did? I don't pay myself at Asilo. You don't pay yourself? I'm putting every single dollar into hiring people and building the firm.

Yeah, I mean, I do live by it.

Yeah, I mean, I do live by it.

Yeah, I mean, I do live by it.