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
Yeah. I'll tell you what happened is we put in a reserve strategy where we said we won't fund if it's more than 20 million post. But then what happened is the market just went away with it. That became anachronistic. So you create these rules and then the market moves.
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