E9: Dave Mcclure & Jordan Stein on YC, "Spray and Pray", and Games VCs Play
Liquidity
Navigating Value-Weighted Progression in Early-Stage Investing
The chapter delves into the analysis of value-weighted progression in early-stage investing, emphasizing considerations for deciding on follow-up investments and the potential for high IRR in pre-seed investments. It discusses the importance of a structured framework for investment decisions and the strategy of making multiple small investments while doubling down on successful startups. The conversation also touches on loyalty to founders, the growth mindset in venture capital, and highlights of three successful investments in banking APIs, factory automation, and Latin American secondaries.
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