We noted last month that IPOs are back – but that we shouldn’t get excited. Yes, the IPO window has opened.
Hidden in the euphoria: there may be a time bomb ticking for the broader VC market.
Of course not. But wait. It’s more complicated. You already invested. You wrote a check with high hopes.
It’s great advice for writers. Mercilessly analyze what you’ve written. And be willing to kill your darlings the prose you fell in love with.
The market is improving. But the environment remains tough And deal terms are getting tougher.
Yes, there are bright spots. Yes, 2021 was by all accounts a batsh*t year of massive volumes and massive valuations.
Institutional LPs engage us on their VC and PE portfolios to support them in three ways. But they mostly come down to counting peas.
We’re wildly, exuberantly irrational organisms. That’s true in our lives generally. In investing specifically, we’re even worse.
Is Microsoft nuts? They violated every convention of VC deal-making by investing $10B in OpenAI.
We made the case just a month ago that clickbait stories warning of a crippling recession that would hammer.