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Actually there's a good case to be made that Scott is talking against our own book. We have entirely private money locked up for 13+ years, we benefit from lon
by pmarca 13y ago
Actually there's a good case to be made that Scott is talking against our own book. We have entirely private money locked up for 13+ years, we benefit from longer private holding periods. Whether that's good for the industry or the country are separate questions.
- absherwin 13y agoYou can fix this without government intervention: Launch an a16z ETF. It could help you as well because you could secure more favorable terms if you so desired to offset the additional work. This may yield higher returns to investors than they could otherwise receive but, if so, it's only because they underestimate you. If the return on funds invested with you is expected to be higher, the ETF's price will increase until the perceived risk-adjusted return is equal to that in the market. What causes the types of entities who receive above average returns through nontraditional vehicles to achieve them is some combination of the the higher cost of raising that money, more limited availability and social convention.
- rscale 13y agoI was just thinking that this article could serve as the opening shot in an effort to create venture vehicles for retail investors.