OH: from one of NYC’s top founders re: venture firms


I have no respect for those guys who are “partners” at the $2bn AUM venture
firms. What are you saying to me? You got a job out of college at some
bank, then an associate role at DFJ in Menlo Park and 10 years later you
are partner? What did you ever start or build?

Huge respect for those dudes with the tiny $3mm seeded funds that go
starving for five years, put up a few hits and raise a $20mm fund and keep
building. Those guys are founders. They work out of crappy offices. These
guys are going to rule the future.

I cannot believe that anyone will build a “full service” venture firm again
along the lines of what FRC and A16Z are doing so well the last 5 years.
Maybe it scales but not in today’s market if you are just starting. It is
possible to “spray and pray” so efficiently, offer no “help” to founders
except limited emails/etc support, that the high overhead firm can never
get in there.

*Reminder – just some opinions I overheard from a guy that’s built a lot of
awesome stuff. Interesting to anyone who works in venture.*