Of unhatched chickens and VC returns

Of unhatched chickens and VC returns

In the world of VC, the savvy never count their chickens till they are hatched. Or calculate returns till you have moolah in the coolah. But others are more than glad to do it for them. They count your unhatched eggs and rank chicken farmers based on their “unhatched” chicken count. But wait, you ask — how can you do that? Those chickens have not hatched yet. And therein lies the conundrum of measuring VC returns. So why do we even measure what’s un-necessary, even inane?

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Getting in VC

Getting in VC

When Bill Gurley graduated, he wanted to be a venture capitalist. He went to New York for the first time in his life -- to beg for meetings with venture capitalists and was told “Don’t even think about it kid. Go work for 20 years, and then come back.” Gurley did not follow this advise. And there is no straight career path into venture capital.  

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