In the Know with Amol Sarva Albert Wenger, Union Square Ventures
Oct 28, 2025
Albert Wenger, a Partner at Union Square Ventures and veteran investor in iconic startups like Etsy and Tumblr, shares insights from 20 years in New York's tech scene. He discusses the evolution from apps to deep tech, recounts lessons from early ventures, and reflects on the impact of Google's NYC presence. Wenger explores crypto's challenges, AI's future, and the importance of community-driven marketplaces. He emphasizes the need for founders to assess AI risks and choose their entrepreneurial environments wisely.
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Discovering The Web At MIT
- Albert Wenger discovered the web late-night at MIT by using Mosaic and felt he'd "seen the future."
- He immediately predicted newspapers would be toast and spent hours browsing instead of doing homework.
Startup While Doing A Dissertation
- Albert ran a startup (W3 Health) while finishing his dissertation and later moved permanently to New York after graduating in 1999.
- The company pioneered hosted analytics for patient data but ultimately failed in the dot-com crash, teaching him hard lessons.
LC39 Incubator And The Bubble Burst
- Albert co-founded LC39, raised $25M to incubate companies, and nearly sold to Europe and Web before the dot-com crash canceled the deal.
- They returned capital when the market collapsed and wound down the operation.