20VC: Why VC is a Ponzi Scheme Today | Why Most VCs are Bankers | Why Big VCs Ruin Startups | Why Incentives in VC are Broken | Why American Dynamism is a Tool for VCs to Raise Money with Nick Chirls, Asylum Ventures

1209.318 - 1237.575 Nick Chirls

The top quartile, okay, the top quartile, the best 25% of venture firms from the 2015 vintage have not returned their investors all their money. We're nine years in. The top quartile has not given their investors their money back. So yeah, if you think about the 2021 vintage, I think a 1X fund will be top quartile. I think returning your LP's money on almost any timeframe will be top quartile.