I'm Happy to Pay the Fees

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For the super majority of my investment in benchmark, I'm paying limited partner rates and management fees. As a GP, I paid carried interest and management fee to my fellow GP's as an LP. And that's crazy. We have aunts and uncles. We don't have overlords that are there getting their people out. That is taking it to every extreme along the way. You never want the partner to feel like they're working for Peter in this case.

We sit down with all five current Benchmark GPs for one of their legendary weekly dinners, during which we ask all of the unresolved burning questions from Part 1. How do THEY think about Benchmark v3? What are their day-to-day emotions trying to keep the equal partnership “bending toward greatness? Why is there no growth fund? What does it take to become the next Benchmark GP? Why is there a secret Principal program? We cover all these and much, much more. We also recorded the whole thing on video — which we highly recommend watching even if you normally only listen to the audio feed!

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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.