Thoughts on the LP Product and Firm Strategy

This chapter explores the LP product and the importance of choosing long-term investors who are respected and kept updated. The hosts also discuss treating LPs like investors and respecting their opinions, as well as their firm's strategy that doesn't rely on macroeconomic factors.

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Ben Horowitz, co-founder of Andreessen Horowitz (a16z) and one of the most influential venture capitalists of the last decade, sits down with Erik for Turpentine VC. They shed light on how Ben thinks about firm-building and where the future is going. We're proudly sponsored by Vanta. Get $1000 off Vanta with https://www.vanta.com/upstream

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TIMESTAMPS:

(01:00) Episode Preview

(03:55) Ben on what allows the legendary VC firms to be great for multi-decades

(05:05) a16z’s unique product-first, investor-second approach

(06:20) YC as a16z’s closest spiritual analog

(09:40) Ben on why venture firms should stay private

(11:40) How a16z scaled their fund sizes to market opportunities

(12:40) Why a16z chose to go bigger than Benchmark or USV on fund size

(14:20) “Spreadsheet” VCs vs. people-first VCs

(16:00) a16z’s customer-focused strategy

(17:28) The firm’s unique approach to governance

(17:50) Sponsor: Mercury, Vanta