📶 VC vs. PE talent wars

Good morning 👋

Happy hump day.

March Madness starts in ~24 hours (the games that start to matter), I’ve watched a grand total of zero college basketball games this year, and I'm about to fill out a bracket. Will keep you posted on the results.

Today we’re stealing a clip from the TB pod about a difference in the incentive structures between PE and VC firms.

Let’s get into it.

P.S. This a16z American Dynamism video …. so sick.

Today’s highlights

• Comparing the threat of leaving in VC vs. PE

• Thoughts on the Cendana model

• Rippling vs. Deel updates

• Rex Woodburry (Daybreak) announces fund I