Rise of the operators (Part 2: the investors)

While it warms the cockles of my heart to see VC investors talking about selling companies, assessing them on the basis of their last 3-5yrs investing is currently near impossible. But the flip-side of this crash is that by the end of ~2025 we’ll have some useful datapoints on who the best new tech investors are (and which of the previous generation are more good than lucky). 

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The Fermi Paradox of Venture Capital

Once again another capital cycle rotates. As with the passing of every civilisation, certain durable (or lucky) relics and memories survive into the new age. This is why we have giant myths, pyramids, 20% management carry structures and limits on bank CEO salaries. And I guess this is why crypto will hang around as an asset class. Amidst this turmoil and post Great Bull Market (GBM) contemplation I’ve been wondering why VC hasn’t been truly disrupted yet. It seems ironic (or maybe just weird, I so often get these concepts confused) that the capital delivery ecosystem designed for those pioneering disruption is itself remarkably stuck in time.

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