Steve Tuck

speaker

1,075 appearances 3 recordings 1 series first heard Jan 2025 last heard 6d ago

Steve Tuck’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Sep 2026 with 1.

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Oxide and Friends · Oxide's $200M Series C · 27 Feb 2026 podcast

And we just had a bunch of those break in the right direction.

Which was, it was really sad.

I mean, when we blew that milestone out and you're like, we're calling the rest of the capital.

I'm like, oh, right.

I guess we are.

That's great.

So we ended up blowing that milestone out.

Yeah, so I think this is a really important point, Steve, because I think that the way the venture model works is,

is you put a bunch of small bets out there and you spread them around.

You've got portfolio theory, I'm gonna put a bunch of like little bets if they're pre-seed, and then the bets are gonna get gradually bigger and bigger as the stage advances.

But when you have a company that, and so you would think like, oh, okay, I get it.

Like the model is you put a bunch of bets out there and one of them's a winner and the one that's a winner is enough to pay off like the ones that aren't a winner.

Most of them are zeros.

And the one that is, you know, the one that is a non-zero is a non-zero to the point that it can make up the others.

And that's true, definitely true, but there's an asterisk on it, which is when you do have a winner, you want to own as much of that as possible.

And that when you are investing in these companies at an earlier stage, it's not just the investment, there's some optionality that you're preserving for yourself that you know as an investor, like, hey, if I'm a good partner, I will be in a great position to really be able to put a lot more capital into the company.

And we had some investors that like really, they were very explicit about that being like, this is why we are investing because we want to be able to put in more capital later.

Yeah, exactly.

And there was actually a very funny moment when one of our investors, you know, we kind of closed the B, I mean, at some level of coincidence, I mean, not totally coincidental, but we basically made our VCs look like absolute geniuses, is what I'm trying to say.

Like the B closes and then like the company very shortly thereafter is like, wow, okay, this is like, you've got all of a sudden a lot of like long, and these were like long percolating things.

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