There are a lot of new early stage funds lately. This is overall a good thing for founders, but I worry they won't succeed without partners who have startup and technical experience. YC would never have succeeded if I didn't have partners with both.
The earlier you invest, the more you need these things. A private equity fund doesn't need partners with startup or technical experience. They can decide based on numbers, and aren't expected to help. But early stage there are no numbers, and you may have to help a lot.
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This is a funnel problem: there's no onramp from being a research scientist to being an investor. We're working on building such a funnel
@lunar_vc: writing the playbook for transitioning from a research scientist to VC (I'm the guinea pig :) ). -
@EricRWeinstein what do you think? - Show replies
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Won't this trend just further emphasize the dynamics of seed? Right now top quartile funds beat the market. With more non-experienced funds, maybe top octile funds beat the market? VC continues to be a bad asset class on average, but absolute number of good funds increases.
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PEs generally help much more than VCs, just not with startup and tech expertise. Governance, Management, GTM, turnarounds. This is by design as they need a higher % of companies to succeed, can’t afford “spray and pray”
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