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As opposed to partners in other VCs? Successful VCs make good money, thanks to performance fees; say, 20% of the profit. edit: I don't know the specifics of Al
by esafak 2y ago
As opposed to partners in other VCs? Successful VCs make good money, thanks to performance fees; say, 20% of the profit.
edit: I don't know the specifics of Altman's case.
- JumpCrisscross 2y ago> thanks to performance fees Based on public reporting, Altman's wealth came from his family office piggybacking alongside YC versus his share of carry in YC's funds.
- brcmthrowaway 2y agoWhat does this mean for dummies? Altman family was already rich?
- JumpCrisscross 2y ago> What does this mean for dummies? He sold Loopt for $40mm and then invested his share of that into start-ups like Stripe. (That investment alone should have taken him past $100mm.)
- brcmthrowaway 2y agoOh wow, wish I had just 1% of his wealth