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This is, without a doubt, the boldest and most impressive backhanded compliment I've ever read on HN. I have no idea what A16Z's returns for their LPs are acro
by keithwhor 8y ago
This is, without a doubt, the boldest and most impressive backhanded compliment I've ever read on HN.
I have no idea what A16Z's returns for their LPs are across their funds, but this could literally be right out of a movie script.
**SCENE**
GENERAL PARTNER is chatting with potential LIMITED PARTNER
over cocktails.
LP: The fund you're raising... the thesis, it's...
interesting. You've done a great job with your last
three funds. But I've read similar things from
Andreessen's team that make me think they have a
better grasp of the space - wouldn't my money be
better invested with them?
GP smirks and calmly reaches towards MARTINI GLASS,
casually picking the toothpick, olive still attached,
between her thumb and index fingers. She places the olive
between her teeth to the side of her mouth, grasps, and
pulls the olive off the toothpick in one swift motion.
She carefully places the toothpick in a napkin, stares LP
in the eye, and pauses just a moment before aggressively
biting down. She finishes chewing without breaking eye
contact.
GP: Ah. Yes, they do market themselves as visionaries.
It's completely intentional. They're fantastic at
marketing, PR, and brand building. In less than a
decade, while generating very unimpressive returns,
they've built one of the strongest VC brands in the
world. They're phenomenal at it. They do it so well
that they make it look easy, but it's not at all.
LP: So if I'd like to make money...
GP: You got it. How much are you in for?
- gist 8y agoI actually liked what you wrote. Only thing I can add is they were able to build that brand based on the legacy start power of Marc Andressen. I wonder what would have happened if he hadn't been involved.