continuously amazed by the failure of hedge's forays into venture. They have better data, late stage relationships, and warchests to invest across the lifecycle. Is VC culture this difficult to export? If I was a young, ambitious, smart person in venture I'd be running to one.
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Replying to @WillManidis
working on doing a hedge / venture hybrid with the earth defence fund
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Replying to @DanielleFong
the intersection is interesting. But in terms of structural tailwinds, I don't understand why every hedge isn't making a significant bet on venture rn. like securities aren't going to hit your return targets, it's existential and you stand to be really fucking good at it.
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Replying to @WillManidis
venture is fundamentally fucked, because they don't let the people lead. I think basically you need to give people more freedom.
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Replying to @DanielleFong
do we think this is true? seems like hedge is easier to test junior talent as if you want to spot check a strategy you either just paper trade it, or put a small amount of capital behind it and assume it scales (possiblysub) linearly. Testing junior talent in venture takes years
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Replying to @WillManidis
my idea is you just make sure bets. if you find an elon musk or steve jobs (or I humbly suggest -- and am putting money on -- myself) you just directly back the person and let them take off from there, without friction of equity ownership maybe there's a pay it forward principle
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Replying to @DanielleFong
(lmk if easier to talk through this nonpublically) but would be interested to hear about how you think about LP management with that strategy? Assuming most blue chip LPs will want ownership targets, etc. so you're limited to UHNW?
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my idea is to stream on twitch and just use a sort of folk / emergent strategy. I am finding that the people most interested also want to work, so it is mainly about credit creation in making projects happen that's the key. we'll have large formations made of accredited investors
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