Why VC feels ambivalent about the convergence between public and private equity markets — (This is the unabridged version of Alex Lazovsky’s recent post on Forbes.) Many signs point to greater convergence between public and private markets, and venture capital has good reason to feel deeply ambivalent about their increasing similarity. …

As in dining, there is great variety in equity investing. Big institutional investors, like university endowment and pension funds, sometimes have their own investment staff. These are like live-in chefs. Every gigayacht should have three. Then there are the financial advisors in strip-malls hocking mass-market investment products on commission. They…

The US tech industry is the greatest capital extraction machine since the spice trade — The geographic distribution of the global tech industry is peculiar. The USA is responsible for about 33% of the value of the technology business worldwide, but only about 4% of the world’s population lives in there. …

Sequoia, one of the most illustrious VC firms, recently announced a momentous change to how they structure their fund(s) and their business. Some claim that “Sequoia Capital will no longer be a venture capital firm,” others claim that it is “blowing up the VC fund structure,” and of course no…

There basically four reasons to entrust your money to any professional investor: Sheer charisma — whenever the person talks, you suddenly can’t imagine not giving them your money, but you can’t say exactly what it is about them. Of course, that’s almost certainly a scam. Access — this person golfs…

(The full version of Alex Lazovsky’s recent Forbes piece.) When I heard that Shaq and Ciara were sponsoring SPACs, I was worried. It looked like a beloved financial vehicle was jumping the shark. But Warren Buffett reassured me. When he called SPACs “a killer” for his business because they were…

Arm-chair psychiatrists love to tele-diagnose the luminaries of Silicon Valley. Mark Zuckerberg is commonly diagnosed with autism/Asperger’s. Larry Ellison is reportedly a narcissist, albeit a “narcissist visionary.” Vanity Fair has labeled Adam Neumann “egomaniacal” and “insane.” Not to be deterred by redundancy, Vanity Fair also quoted an unnamed acquaintance of…

Venture capital — the business of buying and selling startup equity — is about to change dramatically. Just as we disrupt other industries, it looks like we are about to be disrupted (again). VC is facing a simultaneous squeeze from above and below, and the key to thriving and turning…

When we’re not calculating, scheming, or buying private islands, we VCs spend an astounding amount of time producing content. After actors and gurus, there is perhaps no profession more widely represented on the podcast scene. VCs blog as profusely as a C-list-celebrity-turned-president tweets. Andreessen Horowitz has launched an op-ed section…