Track Record – AVC

I probably link to Fred too much but he is only hitting a nerve with me.

I don’t have a long track record yet – I would say I barely have one but I can very conscientious about that it is being built day by day, deal by deal.

VC is a slow game – especially when it come to building a track record.

I hope to be celebrating some wins but I am sure there will be losses as well.

The learnings from all sides of VC pour in daily. There are the regrets about lost deals – these are the ones that you were in but got away.

There are the regrets about looking back on a deal and realizing that you should have done it another way.

Tons to learn. 


Track Record – AVC

How do you DD a VC who issues a term sheet? – grayscale_vc

Interesting list. I won’t say I don’t agree with the list but I think it is missing one big section.

#4 hints at it a little but not directly enough.

Do you get along with your VC is one I would add.

You will be spending potentially years around your VC either in board meetings, in coffee chats or on WhatsApp. I always tell founders to spend some time with the VC over lunch or coffee – just to get to know each other more. 

I don’t think its only a financial transaction but there are lots of other elements involved.

How do you DD a VC who issues a term sheet? – grayscale_vc:

4. Operating Style Connected with value-add is the fund’s operating style. Are they hands-on or hands-off? If hands-on, how many times a month do they like to meet and what do they usually want to discuss. Will they get to know your whole management team or just the founders. And then choose which kind of VC you want for the next phase of growth. It’s preferable that you talk to companies regarding the specific manager within the fund team who’ll handle you post investment.

Seed funding in Singapore isn’t dead. Here’s all the proof you need.

Normally behind a paywall but this article is free for the day.

Here is one of my incendiary quotes:

Smith adds: “The meme that there is a stage-specific crunch is usually started by founders who have struggled to raise a round. The truth is that everyone struggles and fundraising for startups or venture funds are never easy.”

Seed funding in Singapore isn’t dead. Here’s all the proof you need.

What Bear Markets Look Like – AVC

Trying to grok this. Interesting framework for thinking about it but not sure it is true.

Might be a long time to be proven right or wrong on this one.

What Bear Markets Look Like – AVC:

But those who stayed were rewarded, although it took a long time for that to happen. We didn’t see meaningful paydays in the Internet sector until the 2007-2008 period and the big paydays didn’t start coming until 2010 and beyond.

The thing to look for in the downturn is signs of life. There were little projects that turned into big ones. Blogger was started in late 1999, almost shut down many times in the next few years, and was picked up by Google in 2003. Myspace, LinkedIn, and Facebook all emerged in the 2002-2004 period, as the Internet was finally coming to life again.

So that is my framework for thinking about where we are with crypto and where we are going.

I think some crypto asset (and possibly a number of crypto assets) will have a price chart like Amazon’s current one in 18 years. But we will have to do what Amazon did, hunker down and build value and survive, for quite a while to get there. And I think things will get worse before they get better.

Facebook to send VP instead of Mark Zuckerberg to international committee – CNN

It is so telling that he can’t even offer a video conference.


Facebook to send VP instead of Mark Zuckerberg to international committee – CNN:

But Facebook declined multiple invitations to send Zuckerberg, saying in a letter to the committee last week that he is “not able to be in London.” The company also said they couldn’t make Zuckerberg available via videolink.