📶 when a "good" outcome isn't good after all

The ugly side of taking venture money, funds of funds are optimistic, musical chairs for university endowment CIOs, and ElevenLabs grabs a $3b valuation

January 27, 2025 • Estimated Reading Time: 7 minutes

Good morning 👋

And welcome back to work for those of you who actually have a life outside of reading and writing emails.

Everybody wants to talk about the VC success stories. That’s all you hear about.

But for every success, there are dozens of failures, and sometimes even the successes are failures once you start peeling back the details.

That’s exactly what happened to ActOn, and we’re covering it in today’s piece.

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