Origins - Inside Venture Capital, Hosted by a GP and an LP Minisode: Is It 2021 All Over Again?
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Oct 7, 2025 The hosts dive into whether we've returned to the wild market of 2021, highlighted by recent 100x multiples. They discuss how firms are deploying capital without the pressure to fundraise, altering traditional fund dynamics. There's an emphasis on the importance of being selective with high-priced deals while exploring creative liquidity options. The conversation considers whether venture bubbles might occur more frequently, reflecting on the lessons learned from the past. Curiosity and diligence among LPs and GPs are celebrated as key to navigating this uncertainty.
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Curiosity Distinguishes Exceptional LPs
- Exceptional LPs demonstrate deep curiosity and commitment to understanding people, not just metrics.
- Nick praises Beezer and Alex for being thoughtful, caring, and detail-oriented in sourcing managers.
2021 Vibes From New 100x Multiples
- Recent surges in 100x revenue multiples feel like 2021 repeating, prompting concern among LPs and GPs.
- The hosts note it's strikingly similar but explore differences in pace and behavior this time.
Deployment Pace Is The Key Difference
- Deployment pace matters: current high prices haven't triggered the same frantic capital deployment as 2021.
- That slower deployment could be a key difference shaping outcomes this cycle.