Scott (HarbourVest) - Unknown Last Name
speaker
382 appearances
1 recordings
1 series
first heard Jul 2026
last heard 27 Jul
Scott (HarbourVest) - Unknown Last Name’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
When it comes to the power law and venture capital, how important is it?
It's everything.
It's the business model.
I have this conversation with investors all the time who look at venture capital the same way they look at their public market portfolio or their private equity portfolio.
They have a hard time getting their head around the losses, but the reality is it's the wins that drive all the performance.
And I think as you and I both know, those wins are very concentrated.
That's right.
But we use the word shooting the moon, venture capitalists shooting the moon, and you've got to play your deck, your hand the right way, right?
I think every great portfolio looks like that.
I recently created a theoretical portfolio that uses both our data and third-party data, extended it back two decades.
I think 15,000 companies, 15 billion of cost basis.
And the reality is of those 15,000 companies, one company returned 10% of the entire value, three X portfolio on that 15 billion.
10 companies returned a third of all the value, and the top 10% of the companies returned 90% of the value.
That's the assumption, right?
That's the business model.
I just accept it.
I realize that is the model, but in order to win, I think you need to be thoughtful about where you concentrate your capital, how you diversify your capital, how you not only make investment decisions, but also how you make divestment decisions.
We all talk about the origination and the original investment, but
And the way venture capital and private markets in general have evolved over the years is there are points of exit that you can take that are not your traditional exit.
It's not the M&A event or the IPO.
Showing 1–20 of 382 · page 1 of 20
Next →