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paulg's profile
Paul Graham
Paul Graham
Paul Graham
Verified account
@paulg

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Paul GrahamVerified account

@paulg

paulgraham.com
Joined August 2010

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    1. ⒿⒹⒽ‏Verified account @jdh 19 Mar 2019

      Mostly new-ish VC funds say "price doesn't matter early, it's a black swan biz, just get in the good deals". Some are successful, but many just paper markups. Lots of old-ish successful VC funds think price matters. It's not the only thing but you can't just ignore it.

      13 replies 12 retweets 96 likes
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      Paul Graham‏Verified account @paulg 20 Mar 2019
      Replying to @jdh

      Even if you think price matters, if you're competing with people who think it doesn't, your returns will be shot too, maybe even worse than theirs, if this means that they get all the good deals.

      10:11 AM - 20 Mar 2019
      • 1 Retweet
      • 59 Likes
      • james hong Jeff Bodle Peter Teneriello Jared Tim Rooney TJ Nahigian Chase Adam Brian Laung Aoaeh, CFA
      7 replies 1 retweet 59 likes
        1. SXSFail  🔥 🔥 🔥‏ @sxsfail 20 Mar 2019
          Replying to @paulg @jdh

          I think that could also be said about some public equities

          0 replies 0 retweets 2 likes
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        1. Rob Gabel  🇺🇸‏ @robgabel 20 Mar 2019
          Replying to @paulg

          pic.twitter.com/dQhmwNgXJv

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        1. New conversation
        2. parker‏ @pt 20 Mar 2019
          Replying to @paulg @jdh

          This presumes an efficient market. Venture is not an efficient market pre-product market fit. But this dichotomy misses the important bit. A price is not high or low in the abstract. It’s high or low with respect to the risk & upside potential.

          1 reply 0 retweets 7 likes
        3. James Riney 🐠Coral Capital‏Verified account @james_riney 20 Mar 2019
          Replying to @pt @paulg @jdh

          Price both does and doesn’t matter. You can make money by 1) getting into the deals that everyone wants (expensive); or 2) getting into the deals that nobody wants - as long as you’re right in both 1 and 2.

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. ⒿⒹⒽ‏Verified account @jdh 20 Mar 2019
          Replying to @paulg

          Vision Fund!

          0 replies 0 retweets 7 likes
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        1. james hong‏Verified account @jhong 20 Mar 2019
          Replying to @paulg

          pic.twitter.com/sEVmQicHUy

          0 replies 0 retweets 3 likes
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        1. Josh Wolfe‏Verified account @wolfejosh 20 Mar 2019
          Replying to @paulg @jdh

          pic.twitter.com/qE2JYamZGW

          Real Vision
          0 replies 1 retweet 23 likes
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        1. Ilker Inanc‏ @ilkerinanc 22 Mar 2019
          Replying to @paulg @jdh

          Venture capitalist's dilemma

          0 replies 0 retweets 0 likes
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