The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified Investor Stories 400: Lessons Learned (Yunger, Chau, Terbell and Clark)
May 8, 2025
Investors share pivotal lessons from their careers in venture capital. They highlight the necessity of building strong relationships to enhance decision-making. The shift from large funds to focusing on early-stage investments emphasizes potential growth and innovation. Personal anecdotes reveal how overcoming skepticism fuels creativity and competitive spirit in the industry.
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Hustle Defines Success
- Oren Yunger uses his determination and hustle from basketball to win for his founders despite not being the biggest or fastest.
- He constantly pushes himself to provide value and innovate in venture capital.
Build Strong Board Relationships
- Build deep relationships with board members to navigate tough times effectively.
- Open and honest communication with aligned investors helps set companies up for long-term success.
Small Funds Capture More Upside
- Large funds often focus on assets under management and IRR, which may limit upside.
- Smaller, aligned seed and early stage funds can capture more meaningful venture returns.