- Community activated: build businesses on top of these online communities where different groups are gathering.
- Diversity in an LP base allows for different perspectives. This can provide a lot of unseen benefits over the lifecycle of a fund.
- There is a huge amount of upside in taking the road less travelled. This reminded me a lot of Naval’s quote: “Play average games, expect average results.”
- Established VCs rely on pattern matching, which assumes that the future will look like the past. This overlooks a lot of founders that don’t fit a certain criteria.
- People tend to make purchasing decisions from communities they feel comfortable from.
- Venture is a hospitality business. How you make somebody feel when you provide a service to them is a foreign concept to VCs, but the best ones will have to adapt to this mindset change in a world of more available capital.
- At the Series A, you are investing in an imperfect but available data set. At the seed, you are investing in people.
- If you want to be a seed investor, you have to be a great identifier in talent.