retail therapy

The rise and fall of 15-minute delivery startups.

“Fueled by record levels of venture capital funding, they quickly blanketed New York City with their delivery bikes. The bet was that, in densely populated metropolitan areas, ultra-fast delivery would be more financially feasible to pull off. But just as […]

tech, startups, internet

Why generative AI is mostly a bad VC bet.

From the highly credible Rob May, investor in 100+ AI companies. His point is that there’s little defensibility for most of these companies. First, before there are no barriers to entry. Second, the foundational models that these companies rely on […]

retail therapy

A word of caution to AngelList LPs.

“I’ve observed what I perceive to be a “market inefficiency” on the platform, which is what I want to call out today: Tier 1 VC bridge rounds.” This is the same lesson as Mark Suster’s 2014 gem Why Am I So […]

tech, startups, internet

A look inside a VC-funded bankruptcy.

“Pollen, the events festival tech startup, went bankrupt in August after raising more than $200M in venture funding.” Employees will likely get none of the £3.1M in owed wages, as they are behind secured creditors in the pecking order. Full […]

tech, startups, internet

Liquid venture capital.

I read this with great delight. This author managed to model private market venture returns using only public market stocks. The point he makes is that the underlying driver of the returns is innovation, and there’s plenty of that to […]

better doing

What kind of company do you want to build?

“In reflecting on [my business] failure, I have come to realize that my main mistake was in pretending certain trade-offs didn’t exist. Specifically, I think when building a company, all founders need to clearly prioritize the following three values: Scale, Speed, […]

fun facts

Venture capital returns are very skewed.

“In those posts I was analyzing data from Correlation Ventures that showed … that 65% of investment rounds fail to return 1x capital and only 4% return greater than 10x capital.” | learn more

tech, startups, internet

Minsky moments in venture capital.

“Hyman Minsky was a 20th-century economist whose ‘financial instability hypothesis’ is probably the best-known explanation for the boom and bust cycles that characterize public financial markets. … We’re currently in the midst of an unprecedented boom in private market activity. […]

tech, startups, internet

Quant comes to venture capital.

“Advanced techniques are applied to study patterns of growth, failure, value evolution, and performance.” This form of analysis has proven valuable across multiple classes of investments. The pace of VC deals nowadays might provide enough data to apply the approach […]