Onward, a Fundrise Production

7: Ben Gilbert & David Rosenthal (VCs and hosts of Acquired): Top investment lessons, what makes the best tech companies, and more

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Sep 15, 2022
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ANECDOTE

Sequoia's Apple Miss

  • Sequoia Capital made a huge mistake by selling their Apple stock early.
  • They returned their fund but missed out on massive gains as Apple grew.
ADVICE

Let Winners Ride

  • Let your winners ride, especially in exponential markets like tech.
  • Winners tend to keep winning, so avoid selling early unless you have a compelling reason.
INSIGHT

VCs and IPOs

  • Venture capital firms are structurally incentivized to sell after an IPO.
  • This is because their LPs prefer liquid assets and don't want VCs managing public equities.
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