Saved by Tom White
This Time is Different
In short, VCs in these frontier domains essentially need multiple miracles for these companies to succeed. Compare those scale up challenges to traditional biotech and pharma, where the entire industry has designed systems and processes to prove safety and efficacy and grow production. There’s still serious technical risk, but it’s knowable technic... See more
Danny Crichton • Lux Capital Page Not Found
Speculative investment, with ambitious but inexact expectations of financial return, is important fuel for founders who build the unknown future. However, investors and operators are often deeply misaligned: investors think in bets, while operators think in consequences. The relationship is tense, but can be explosively productive.
Alex Danco • Debt is Coming
But what could a future-proof venture firm look like if it was built from scratch? These are the most common ideas that have come up in my conversations- Visionary leadership- An org chart that reflects value-creation- Product-led value proposition- Incentivizing collaboration and apprenticeship internally- Intellectually honest decision making
Fantasy Capital
There are some phenomenal products in some of the companies that were overfunded and are haunted by past decisions. The valuations at which these companies raised capital set them on the wrong path - a path that fails to attract and reward critical talent, a path that incentivizes excess expenditure for growth at the expense of structuring a busine... See more