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Sure, for Sequoia. But the next paragraph says Benchmark, for example, "has multiplied investors’ money 11 times net of fees in its 2011 fund...It includes bloc
by staticautomatic 10y ago
Sure, for Sequoia. But the next paragraph says Benchmark, for example, "has multiplied investors’ money 11 times net of fees in its 2011 fund...It includes blockbuster investments like Uber Technologies Inc. and Snapchat Inc." to which all I can say is...maybe on paper. My point is that the gains are unrealized until you get the actual money. So "multiplied 11 times" is only true of the monopoly money. Whether it's true of the realized gains remains to be seen.
- mathattack 10y agoThe chart also shows realized versus unrealized. It's analogous to GAAP accounting. GAAP accrual based earnings are good, but until you see the cash, it's just a best guess.
- deleted 10y ago[deleted]
- mathattack 10y agoIt appears that a16z agrees with you in their rebuttal. :-) http://a16z.com/2016/09/01/marks-offmark/ http://a16z.com/2016/09/01/marks-offmark/