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The IO Podcast: Investor + Operator
Going All In On OpenAI, Rippling and Others | Bedrock Capital's Geoff Lewis On How How He Makes Investments | Ep. 6, IO Pod
Jan 3, 2024
VC titan Geoff Lewis from Bedrock Capital joins the podcast to share insights on venture capital and raising funds. He discusses assessing founders, the power of authenticity, when to double down on investments, and the OpenAI situation. They also talk about the future of social media and the challenges of regaining health in a technology-driven society.
01:04:05
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Quick takeaways
- Success in venture capital requires a polymathic understanding, self-confidence, and a track record of quality investment decisions.
- The combination of social media algorithmic rewiring and geopolitical uncertainty will lead to increased polarization and difficulty in finding common ground.
Deep dives
The Challenges of Running a Venture Capital Firm
Venture capital is a highly competitive and overpopulated industry, with only a small number of investors consistently achieving strong returns for their limited partners (LPs). Jeff Lewis, a venture capitalist, believes that the key to success in this field lies in a combination of factors. Firstly, investors need to have a polymathic ability to deeply understand different businesses and entrepreneurs. Secondly, they should be comfortable with themselves and not be overly self-absorbed. Thirdly, they must have a track record of making quality investment decisions. Due to these high standards, Lewis believes that there are only about 15 investors who possess these qualities, and they continue to dominate the industry. He predicts that emerging managers have a window of opportunity to become winners, but they must navigate a landscape where the winners win even more, leading to a consolidation of AUM (assets under management) in the hands of a few top-performing firms.
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