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Naval Ravikant to VCs: “You can lie to your LPs, but don’t lie to yourselves” | PandoDaily
“There was so much innovation being thrown around—moveable carry, geographic portfolio, unbundling and more. Many were coming up to me later saying the ideas were flying at them too fast. That’s exactly what’s happening in the market.” Even if you don’t know what those terms mean, the important takeaway is that even the stodgiest VCs are going to have to start acting more like the entrepreneurs they serve because the market is only getting more competitive with the ways to fund becoming far more varied and “hackable.” [and add Corporate Accelerators, Incubators and Venture Funds] [...] restrictions LPs put on funds: things like how much you can invest, what percentage of a fund you can invest in follow on rounds of existing companies, what sector you invest in, whether you can invest personally if the fund invests as a group, etc.
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may 2015 by asterisk2a

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