440. Building First Mark, A Leading VC in NYC, Will New York Overtake the Bay Area, Insights on Unicorn Selection from a Perennial Midas List Investor, and Why Remote Work can Ruin Great Startups (Rick Heitzmann)
The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified
Firstmark's Investment Thesis and Approach in Venture Capital
Firstmark discusses their unique choices in the venture capital industry, including a focus on New York's ecosystem, high conviction investments, and industry expertise. They emphasize being true partners to entrepreneurs, investing in early and growth-stage companies, with a primary focus on consumer investments such as marketplaces and video game businesses. The chapter also explores the challenges and rewards of making asymmetric bets in ventures like DraftKings, emphasizing the importance of backing resilient teams in the face of regulatory risks.
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