Sebastian Mallaby: Venture capital as an engine of courage — #8
Manifold
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Investing in Venture Capital
Amerson: Some partnerships have a blanket rule that everybody would share equally in the carry in ther compensation generated by hit investments. Another extreme is a partnership where there maybe one more famous, or most famous partner who basely takes all the, you knowall the upside, or almost all of it. He says this sort of specialization is sactially healthy but becomes problematic if nobody can say no to the king pin partner and he goes too big on clean tack at the wrong time. Amerson: I think people are the least aware of how they pick start ups to invest in, but how they convince pension funds to invest in their structures.
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