Is There Still Risk in Late Stage Venture Capital?

The common assumption is that late stage venture capitalists have it fairly easy, right? They write bigger checks, they write fewer checks. Oftentimes these VCs are working with dedicated CFOs and like teams of finance people. And in some cases, they might be more risky than the investments that you're writing out on the seed or early stage. But this is a very unique bull market,. The pattern you can repeat, you know, because you do the data analysis - for example, SaaS companies command such high premium.