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Which VCs are defensible? - Capital is commoditized. - Portfolio services are widespread. - Experts are plentiful. - Informational edges can be eroded. Personality, or "referent power" may be the most enduring moat. /Thread 👇👇 thegeneralist.substack.com/p/power-in-the…

Advanced Fundraising Strategy: For most, fundraising is a chore. These days, more companies are fortunate to have competitive rounds. What do you do when you have options? How do you optimize a competitive round? Wes Kao 🏛 and I had options... Here's how we approached it. 👇🏾

Let's switch to Signal

Hilarious thread 😄

Fighting Cancer with Personalized Vaccines OncoDNA and myNEO join Forces to Unlock the Power of mRNA Therapeutics. Learn more: oncodna.com/en/company/act… #startups #Cancer #mRNA #vaccines

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5 important things you might not know about LTV and CAC. A thread 🧵

VC funds need about $2B in “exits” for each $50m they raise Why? True average ownership of 10% fully-diluted x $2B = $200m. That’s 4x “gross” $50m or just about good enough today. So raise a $300m fund, you need about $12B in exits. Or better.

1/ Releasing a redacted Lux quarterly letter to LPs. Some strong views of -a catalog of an excess of excesses -what catalysts cause the current market frenzy to end (preview: LP indigestion) -what we are advising our Lux family companies -much more…

I’ve interviewed and managed over 2,000 people. Here are my 55 contrarian observations about humans. A thread... (1/x)

Life is not a competition. It's not about winning or losing. Life is about all the fun we have before it ends.

When the outcome is assured, stay the course. When the outcome is unclear, position yourself to keep playing no matter what. Inactive patience is waiting for the inevitable to happen without rushing. Active patience is preparing for what you can anticipate but can't predict.

In my experience, going from $20M ARR to $133M ARR is extremely hard. It *might* be harder than going from $1M ARR to $20M and closer to $0 to $1M except you need a great understanding of sales + marketing. This is a huge reckoning if sustained for highly valued companies.

Capitalism is brutal If you invest, you MUST know how to identify a moat Here are 9 financial “rules of thumb” that Warren Buffett uses to tell if a company has one:

Introducing the Sequoia Capital Gen AI Market Map!🌎 We’ve decided to map out this emerging frontier, thanks to all the contributions and feedback we’ve received. This space is moving quickly – this map is a living document, so keep the suggestions coming! Who else should we include?

I think most people who are not playing with these technologies are way underestimating the speed of advancement in "creative" AIs & how much of an impact that is going to have on many jobs, soon. AI language & art models are growing at 10x a year. Beyond Moore's Law pacing. 1/

I am getting many emails asking what kind of apps I think are interesting in AI. ten-minute brainstorm of free startup ideas — some aren't good businesses, some have been tried, but not nearly enough of these have been tried when capabilities are improving so rapidly. please add!

Couple of early predictions for 2023: both B2C and B2B are going to be big for tech folks B2C - back to consulting B2B - back to banking