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Dan Romero
@dwr.eth
I don't know Harry, but skeptical that jumping from $8M fund in 2020 to $400M is going to work, especially if he's based in London. Hard enough not being in SV trying to compete with Bay Area based investors. Venture firms like Founder's Fund and CRV are giving LPs back money because of a lack of well-priced opportunities. Hard to believe he's going to be able to deploy the requisite sized checks ($10M+) into outlier companies to return the fund 2-3x. The steelman is his media channels gets 50 million views a month and he can sneak in as a co-lead for a great company that wants distribution? All that said, he's sort of willed himself into existence through sheer force of personality and a podcast, so maybe that translates to investing. https://techcrunch.com/2024/10/15/20vc-closes-new-400m-fund-to-make-europe-great-again-says-harry-stebbings/
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androidsixteen
@androidsixteen.eth
Worst case scenario, $8M in fees every year (assuming it's straightforward, and not based on rate of deployment) Feels like there's only room to fail up
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Dan Romero
@dwr.eth
Sure, but good luck raising another fund. Fees also have to support the fund, etc. Still can make life-changing money, but $20-40M post tax in SV is just an early employee at a successful startup. So your "SV career" is kind of over. Many people will say who cares / I would take that deal, but the reality is most people in "SV" (even not living there) are status driven. Again, not saying he's doing this / won't be able to return and raise another fund. Just going to be super hard. No risk, no reward.
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Jason
@jachian
In another life I wouldn’t have believed the $20-40M figure
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Dan Romero
@dwr.eth
Not following?
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Jason
@jachian
Side commentary is all. In another life I would’ve asked how you got to that estimate of $20-40M and suspect it’s not an obvious number to arrive at if you’re not close to it
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