"The venture capital asset class does not scale." -- ...this is the clearest I've heard a VC say it. Where's the bottleneck?
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"If $100bn per year in exits is a steady state number, then we need to work back from that" -- ...SV scaling-talent-bottleneck?
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Hyp: every major metro that can create relatively liquid talent pool of ~1500 engineers can add $100B/y in exits to VC asset class
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I wish it were that simple + would love to discuss; culture, early risk $, leadership, media support and mentors all reqd to activate
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seattle has the base but not the liquidity I think... too much locked up in amazon and microsoft, plus adverse selection...
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missing importance of academic institutions, youth mix to create founder density. investment capital density also critical


