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Challenges in the Venture Capital Industry
The speaker discussed the composition of their LPs, indicating that the initial funds consisted of founders and operators, while the subsequent larger fund included family offices and fund of funds. They emphasized the importance of a community of founders to drive the fund's success. The speaker also mentioned the shift in the venture capital landscape, predicting a decrease in the number of VCs due to a business model mismatch and a partner mismatch. They shared their personal experience of facing a crisis of confidence early in their career, highlighting the challenges and resilience required in the industry. Additionally, they pointed out partner blowups as a significant issue in the industry.