Why "Evergreen Companies" Beat Venture Capital at Its Own Game with Dave Whorton

Sep 3, 2025

Dave Whorton, a former venture capitalist and founder of the Tugboat Institute, challenges the 'get big fast' mentality of Silicon Valley. He argues for the value of evergreen companies designed for longevity and purpose. With insights from his book 'Another Way', he shares the principles that enable businesses like See's Candies to thrive sustainably. Whorton also discusses how this approach applies beyond business, promoting a shift in values towards enduring success and meaningful legacies.

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INSIGHT

Netscape Shifted The Startup Playbook

Netscape's 1995 IPO changed Silicon Valley from profit-first to 'get big fast' mentality.
That shift enabled power-law venture returns but normalized high-risk, capital‑intensive scaling.

INSIGHT

Venture Capital Runs On Power Laws

Venture returns follow a power-law: a tiny number of winners drive the fund's performance.
That dynamic makes VCs accept many failures and hunt for 100x+ winners.

ADVICE

Choose Evergreen If You Value Longevity

Consider building an evergreen company if your business can be profitable and sustainable over decades.
Ask whether you want to run the business for your career instead of chasing VC exits.

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What if the path to building a lasting company isn't about explosive growth and quick exits? Dave Whorton, former venture capitalist, challenges Silicon Valley's "get big fast or die" mentality in this eye-opening conversation. After witnessing the Netscape IPO transform startup culture forever, Dave discovered an alternative approach: evergreen companies built for profitability, purpose, and generational endurance. From his experience at Hewlett Packard to founding the Tugboat Institute, Dave shares why some of today's most successful businesses—from See's Candies to Enterprise Rent-A-Car—chose patience over pressure. His book "Another Way" reveals the seven principles that create companies designed to last decades, not just reach the next funding round.

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