Capable LLMs can directly replace almost all entry-level consultant tasks and with McKinsey actively advising clients on how to automate this work layer, it was only a matter of time before they applied the same automation internally qz.com/mckinsey-layof…

Round naming conventions broke a little while back when Seeds started closing at $100M+. It’d probably be more effective to just list round / valuation / lifetime total funding A 4B/134B/19B round if you will

I used parentheses and em dashes extensively pre-ChatGPT and now I don't dare lest I get confused for a bot. Don't know what that says about my writing...

Short and sweet economic analysis of current private market pricing practices from Chris Paik It has echoes of what we heard from Roelof Botha about the colossal exits required to justify the price action that is common in later stage venture funding The hard part is that more

Roll ups are new to a lot of VC folks but this breakdown in service is pretty standard PE stuff. What’s wild is you think it won’t work because of churn etc, especially if you yourself were a customer of an acquired business. But then it does. Scale is powerful

Having spent a decade in the marketing & comms world, I see the appeal of a perfect PR launch. I've also seen how playing this game can lead to quicker funding. A big caveat though: there are so many failures that had a great launch. And numerous successful, well-funded

Momentum in SF is so strong that I don’t think the startup ecosystem there is drying up anytime soon First, the new timeline for building in California will change. Founders will go to there to get started, find initial talent, get PMF and raise money. As their valuation grows,

Austin, Miami, NYC are the likely relocation locales as founders re-evaluate building in SF. Hopefully the NC Triangle and Denver are targeted too. Great talent hubs currently underutilized

When people say taxes, regulation, etc don’t affect behavior, just show them this

A favorite aspect of the annual and quarterly letter sharing exercise is seeing how much the investor blurs with the philosopher. Successful leaders will have fully opposing viewpoints with perfectly valid arguments. The next evolutionary step should be moderated debate on TBPN

What a wild time in VC Lightspeed, Insight, Founders Fund, Thrive, a16z and now Lux raising just crazy amounts. The barbell-ification of venture is nearly complete

Venture bank Venture barbell RIP the mid-tier

We gravitate towards hard-line rules when most often the nuance is in between. I agree with Jon for 90% of cases yet know some successful founders who didn’t and shouldn’t be involved with sales for many of the same reasons Carles mentions

The point that self-driving tax services don't add as much to local GDP is an interesting one, but I think this is a classic air conditioner/paperweight scenario where the benefits to any local economy with Waymo far exceed the drawbacks

Despite some shakiness in Delaware's reliability regime and new tax uncertainty in CA, the US remains the best place to incorporate for 98% of businesses

Mega funds require a ridiculous amount of dollars in returns to make sense, yet Thrive is one of the few that seems to be capable of doing that

Friends, I'm excited to announce that I’ve launched Althing Ventures, an early-stage venture capital fund. The fund will have its first close next month and start making initial investments shortly after. I’m grateful to have an elite Venture Partner team of experts and