Prediction: average venture returns for investments made in the 2020s are going to be much worse than those from the 2010s.
There's a flood of capital, and I have never heard so many price-setting VCs openly say they're willing to accept much lower return targets.
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(Which I guess is sort of what is supposed to happen as the investing marketplace equalizes--the outperformance was just too dramatic.)
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Also, let me just simp for a second and suggest that web3 might still have 2010s-like returns.
(But most VCs will miss it.)
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(If inflation rips, the way VC fund carry works, GPs will still do great even if their investments don't outperform!)
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I like that all the capital is going to consumer apps that likely won't make it instead of things that could meaningfully improve the world such as life sciences, energy, carbon-capture or deep tech
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Not if that 'flood of capital' redirects to female/Black/of color/LGBTQ/disabled founders with unicorns in waiting that it's currently completely bypassing and therefore missing out on
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Definitely. And ironically, most of the venture-like returns will happen in crypto stuff.
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