Micah Rosenbloom

In hedge funds, your performance is marked daily. In venture? It’s much murkier.

The same stats could describe radically different companies now, so the labels tell you almost nothing about the risk profile.

Raising lean assumes you can predict what the next round rewards. Lately, that’s gotten very hard to call.

It works like a venture portfolio. Make enough careful bets, and the odds compound in your favor over time.

Picking well used to be the job. Now, GPs who can’t build an organization are in trouble.

You can’t engineer serendipity, but you can keep showing up for it.