Great interview with Sam Lessin on the state of Silicon Valley investment practices... moving from "factory farmed" process back to the roots of early-stage investing. More uncertainty, yes, but also more reward. But #uncertainty is hard to embrace right now in today's climate. How do you deal with the uncertainty of placing bets on unproven founders? Sam looks for an achievement mindset, but how to know whether someone's really got it? To date, there hasn't been a way to tell, other than spending a ton of time with a founder and getting referrals. Survey-based personality tests are easily gamed. Founders can say what they think the investor wants to hear. And the off-the-shelf tests aren't predictive of performance. That's where we come in. #earlystageinvesting
If you want to understand what happened in VC in the last 5 years, and where it’s going in the next five, this is the episode for you: Sam Lessin on World of DaaS 🦄 Factory farmed unicorns 📉 The tech IPO trap 💸 Next-gen investable founders 🧠 Who wins AI https://lnkd.in/e_aSY3de
