"Turpentine VC" | Venture Capital and Investing  cover image

"Turpentine VC" | Venture Capital and Investing

E4: Sam Lessin on Why the Seed & “Factory System” Era of Venture is Dead

Aug 29, 2023
Sam Lessin, General Partner at Slow Ventures and former VP of Product at Facebook, discusses the end of the factory system in venture capital, the future of successful businesses, and flaws in the financing structure. They explore the evolution of venture capital, the consolidation of power in the tech industry, the impact of AI, VR, and crypto, and the shift towards niche communities and weird ventures.
01:10:46

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • The future of venture capital lies in investing in unique and non-consensus ideas.
  • Investing in small business platforms and franchises provides cheaper and mispriced growth opportunities.

Deep dives

The future of venture capital and startup funding

The speaker discusses the changing landscape of venture capital and startup funding. They emphasize the need for a shift away from the factory model of funding, where startups are pushed along a standardized path, and towards a more personalized and differentiated approach. They argue that the future of venture capital lies in investing in unique and non-consensus ideas, and in supporting businesses that are not necessarily venture-scaled but still have strong potential for growth. The speaker also highlights the importance of connecting crypto and blockchain technology to real-world use cases, rather than relying solely on speculative assets. Overall, the future of venture capital will involve more focus on individual creators, investing in their expertise and potential, rather than just their businesses.

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