erin griffith

Another dynamic behind this: VC firms have gotten SO BIG in the last five years. It's great for the investors, bigger funds = more fees. But the jury is still out on what it means for returns. It is very hard to make a 3x or higher return on a $1bn or bigger fund. I wrote a bit

One reason this isn't as simple as what happened after the dotcom boom is how strange the funding market is right now. Lots of startups that were funded in '21 are still limping along unprofitably and there are no exits in sight. Yet AI is booming, there's tons of dry powder, and