Topics:

(00:00:00) - Intro

(00:04:19) - Entering the VC space

(00:08:38) - Pilot-fund theories

(00:12:50) - Risk tracking

(00:19:56) - Finding LP alignment

(00:22:39) - Arkady’s fund thesis

(00:47:12) - Creating the index of solutions to problems

(00:57:18) - The TAM for VC in 2025

(01:00:29) - How founders can increase the odds of being funded by Arkady

(01:03:36) - False signals in VC

Links:

Arkady on LinkedIn - https://www.linkedin.com/in/arkady-kulik/

Arkady on X - https://x.com/arkady_kulik

Rpv.global - https://rpv.global/

To support the costs of producing this podcast:

>> Buy a copy of the Navalmanack: www.navalmanack.com/

>> Buy a copy of The Anthology of Balaji: https://balajianthology.com/

>> Sign up for my online course and community about building your Personal Leverage: https://www.ejorgenson.com/leverage

>> Invest in early-stage companies alongside Eric and his partners at Rolling Fun: https://angel.co/v/back/rolling-fun

>> Join the free weekly email list at ejorgenson.com/newsletter

>> Text the podcast to a friend

>> Or at least give the podcast a positive review to help us reach new listeners!

We discuss:

How speaking the language of scientists helps Arkady build real trust with founders.
The AI tournament model he uses to identify 300 hidden human needs.
Focusing on problems first, then funding an index of possible solutions.
What he looks for in both founders and LPs.
Why honesty beats hype every time.
Why DPI is the only VC metric that actually matters.

Quotes from David:

“You don’t prove your worth as a VC until you return capital to your LPs. DPI is the only metric that matters.”
“The VC game is full of false positives—in evaluating companies and in how LPs evaluate VCs.”
“The best thing an investor can do is give a quick yes; the next best is a quick no. Lingering maybes are the worst.”
“Our technical unlock was agentic AI—it lets us evaluate hundreds of emerging needs for humanity in days, not years.”
“We want to be the first check because what matters most is building deep trust with the founder, not just valuation.”
“If you sold LPs on a strategy and you quietly abandon it, that’s a breach of trust—it's like cheating in a marriage.”
“A lot of people go into VC for ego or fast money. They won’t survive. This is a long, emotionally volatile game.”
“Stop wasting your life and start making a difference. If you’re a founder, build what only you can build.”
“There’s nothing wrong with saying no—it’s how you say it that matters.”
“The founder's mistake is assuming your investors will make money just because you do.”
“Great founders don't oversell—they're clear, calm, and self-aware.”

Important Quotes from the podcast on Business and Entrepreneurship

There is no skill called “business.” Avoid business magazines and business classes. - Naval Ravikant

You have to work up to the point where you can own equity in a business. You could own equity as a small shareholder where you bought stock. You could also own it as an owner where you started the company. Ownership is really important.

Everybody who really makes money at some point owns a piece of a product, a business, or some IP. That can be through stock options if you work at a tech company. That’s a fine way to start.

81: Circuit Breaker Circumstances