Peter Lacaillade

There's so many new faces there.

I don't know them, but I think the entrepreneurs feel that way too, or I think some of them do.

And actually, the approach that Green Oaks takes, for example, where Neil has actually gone the opposite way.

The typical way that people go is hire more people, delegate more down, cover more of the waterfront.

That's great.

That's a strategy.

Green Oaks has shifted

to having Neil at the tip of the spear for almost all first meetings.

So short of having himself or one of his wife or kid in surgery, he'll be there for the first meeting.

Be a prepared mind, truly try to add value to the entrepreneurs and be available to negotiate a deal on the spot if it needs to.

That's a much different client experience than when you talk to the principal who then kicks you to the junior partner who then elevates it to senior partner

If I'm an entrepreneur as well, I worry, okay, wait, and maybe there's a bait and switch.

I mean, there's just, it's dynamic.

And maybe the best entrepreneurs, they don't feel like they need the help from the venture capitalists anyway, and that is what it is.

But what I would say, a few things that worry me is that the game that the big players that we're talking about, Andreessen Lightspeed, GC...

are playing, doing 10 on 50 to put a chip down might make sense for them.

So they blow away.

Maybe the company wanted to raise or needed to raise three or four million.

They could have done that, done four on 20, whatever it might be.

And instead they're doing 10 on 50.