Philosophy

We glorify life's work outcomes over fund cycle timelines.

How do we square this anomaly with the stable happiness for the creators of knowledge capital?

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It's a byproduct of the current nature of risk-on capital markets, plus capitalism wasn't intended to optimize for individual happiness. If anything that's an anomaly.

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So by happiness i mean less in a fluffy sense and more in a "how do we keep competent people going longer because that ultimately increases GDP" <- plenty to debate in that but its a close representation of my first principles

Can you flesh out why risk on = shorter timeline celebration?

Going longer in this case means choosing a Spacex problem over a 18 month AI wrapper sprint - i guess it's the entrepreneurs version of the "boo hoo public markets are too short term focused" problem

I think the mechanics of fund cycles are definitely part of it, but basically all startup lore is focused on speed

Can you expand on 'going longer'? Are you referring to doing so as independent freelancers / creators? General career longevity? Other?

It's not a celebration as much as a present reality: LPs invest into GPs with a 10-year fund lifecycle expectation, therefore GPs invest in founders with a similar expectation.

I'm not a pension fund manager (LPs of a VC fund), but I imagine that time horizon has to do with optimized IRR and CoC returns potential for VC as an asset class, and how that fits into the manager's total portfolio construction of various assets' own risk/return profiles vis-a-vis the fund manager's total target.