Uncapped with Jack Altman Uncapped #27 | Vince Hankes from Thrive Capital
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Oct 8, 2025 Vince Hankes, a Partner at Thrive Capital, shares insights from his vast investment experience with brands like OpenAI and SpaceX. He discusses the art of non-consensus investing and how Thrive's strategy revolves around writing billion-dollar checks during downturns. Vince reveals how they managed to buy Carvana at its lowest point and the importance of compounding in investment success. He also explores AI's transformative impact on industries, the future of robotics, and why backing large platform companies often yields better returns.
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Outsider Talent Builds Long-Term Edge
- Thrive built an outsider advantage by recruiting contrarian, scrappy talent early in New York.
- That selection created a culture willing to make bold bets and break into top-tier deals.
Early Bets That Defined Thrive
- Thrive's early big bets included Instagram and GitHub, which dramatically raised the firm's profile.
- They used deep operational engagement to turn non-consensus ideas into large portfolio positions.
Qualitative First, Then Numbers
- Start diligence with qualitative understanding of people, product, and customers before checking the numbers.
- Then confirm your qualitative hypothesis with quantitative data to sustain conviction through setbacks.