The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified Investor Stories 452: Raising the Bar on Founders, What 100x Looks Like in Practice, and Why People Matter More Than Ever (Bussgang, Okike, Hudson)
Jan 12, 2026
In this engaging discussion, Jeff Bussgang, a seasoned VC at Flybridge Capital, shares his journey from entrepreneur to investor. He emphasizes the new standards he's set for exceptional founders, spotlighting traits that define 100x founders like impatience and relentless focus. Nnamdi Okike from 645 Ventures reveals his shift to early-stage investing, highlighting the significance of people over traction. Charles Hudson of Precursor Ventures advocates for a people-first investment strategy, showcasing the importance of small directional bets on promising founders.
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Raising The Bar For Exceptional Founders
- Jeff Bussgang says his bar for exceptional founders has risen as he's learned what 10x or 100x founders look like.
- He now pursues many more potential winners because power-law returns mean a few big hits drive outcomes.
Prioritize Focused, Impossibly Patient Founders
- Look for founders who combine impatience to win with stubbornness to stick to their approach.
- Value founders who stay locked in and avoid distractions because high clock-rate execution matters.
Slow Replies Can Be A Good Signal
- Bussgang observes his best founders often respond slowly to him because they're fully focused on building.
- He interprets slow responses as a positive signal of founder concentration, not disengagement.