The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
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
David Frankel
They have no incentive to take you to another fund at some point because at every stage, right, they either want their pro rata and they want their pro rata. This is the difference between kind of totally financial investors. And I'd say a lot of the ecosystem has become that. It's like, I have my pro rata. Let me wait for you and go to the market, whatever.
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