Agree - and think you’re both going to see (some) VCs create new types of funds for more capital intensive businesses + more PE firms moving down the stack. Generally, believe there will be new wave of entrepreneurs who think beyond just preferred equity from valley VCs.https://twitter.com/patio11/status/1107307387671576576 …
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(In the sense of "VC capital is structurally limited and has a very high hurdle rate and also tolerance for business failure, whereas if you can manufacture a traditional asset with prime+5% returns and ~1% uncorrelated repayment risk then capital for it effectively limitless.")
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("It's a corporate bond. You invented a corporate bond.")
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I have a few in mind that fit this lens. Curious what you’ve seen?Thanks. Twitter will use this to make your timeline better. UndoUndo
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This is one of the main things I've spending time thinking about and writing up for myself. We should definitely discuss this when next in same city! And I should share some of memo on it when cleaned up to discuss more
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Would love to. Have been doing a bunch of the same.
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What companies are you seeing operate like this?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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