📶 meta risks and the two-party venture system

Together with

Good morning 👋

There are essentially two types of venture firms today:

1. Asset managers: The funds managing the most AUM who are forced to allocate and write larger checks to fit their model

2. Craftsmen: Smaller AUM funds who can take higher risk, push out the J curve, and bet more on the backside (carry) vs.the front (fees)

Like it or not, these are the two options.

It’s not our place to judge whether which one is right or wrong, but it is ironic that an asset class that prides itself on being the catalyst for change has not changed itself over the past 50+ years.

Matthew Ball (@mp_lew) has some thoughts …

P.S. ➡️ We’ve started working with a few early-stage companies to grow their business, become more investable, and increase their odds of success.

Let us know if you want to be the next company we work with.