20VC: Investing Lessons from FC Seeding Uber, Airtable and Coupang | Why Pro Rata is the Original Sin in VC | Why Liquidity Has Died in 2024 | Why LPs are Pissed with VCs | The Hard Truth About Seed Fund Economics with David Frankel @ Founder Collective

2701.271 - 2721.787 David Frankel

So if you don't have actual, and I would say this is SeatGeek, PillPack, Suno, Like every one of those companies had customers, their revenues were increasing because, and that's why they're a pen in the ass to the incumbents is the incumbents go, oh my God, like customers are actually going there. Like what's this thing about? And usually they don't have their shit together, right?