{"id":5109,"date":"2020-11-18T06:53:39","date_gmt":"2020-11-18T01:23:39","guid":{"rendered":"https:\/\/atuljha.com\/blog\/?p=5109"},"modified":"2020-11-18T06:56:36","modified_gmt":"2020-11-18T01:26:36","slug":"long-game","status":"publish","type":"post","link":"https:\/\/atuljha.com\/blog\/2020\/11\/18\/long-game\/","title":{"rendered":"Long Game"},"content":{"rendered":"\n<p>I have been in a few conversations off late, and becoming a VC or starting a fund seems like a new cool thing. The return takes a long time( 10-12) years. Every three years is new fundraising.  It takes lots of patience, perseverance, and luck to find one unicorn.&nbsp;<\/p>\n\n\n\n<p>There are many other professions where people have made more money than in the VC industry. The carry is a byproduct and success indicator. In India, only a handful of General Partners have seen it.<\/p>\n\n\n\n<p>It looks on LinkedIn or social media profile adding a persona, bumper sticker associating with a Venture Capital, but in, reality the work, luck needed to succeed is far more. That is why you will see the 1st in a command being hyper-competitive and high on dopamine to win the best deals.&nbsp;&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.penguinrandomhouse.com\/books\/607128\/secrets-of-sand-hill-road-by-scott-kupor-foreword-by-eric-ries\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"&quot;Secrets of Sand Hill Road (opens in a new tab)\">&#8220;Secrets of Sand Hill Road<\/a>&#8221; written by Scott Kupor is a good book that can give you a glimpse of it.&nbsp;<\/p>\n\n\n\n<p>In all essence Running a VC fund and running a startup both have few similarities.&nbsp;<\/p>\n\n\n\n<ul><li>Integrity\u00a0<\/li><li>Openness<\/li><li>Cutthroat competition\u00a0<\/li><li>Return to investors<\/li><li>Employees churn<\/li><li>Radical optimism and self-belief\u00a0<\/li><li>People&#8217;s business\u00a0<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Among the people I know who moved to SF to enter venture capital, &gt;90% have (accidentally) made more on SF real estate appreciation than on fund carry. \ud83d\ude05<br><br>VC is sometimes described as a get rich quick profession, but the number of VCs I know that have seen a carry check is tiny.<\/p>&mdash; Leo Polovets (@lpolovets) <a href=\"https:\/\/twitter.com\/lpolovets\/status\/1328476718483476480?ref_src=twsrc%5Etfw\">November 16, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Laughed reading Leo&#8217;s tweet, the comments thread sums it up. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have been in a few conversations off late, and becoming a VC or starting a fund seems like a new cool thing. The return takes a long time( 10-12) years. Every three years is new fundraising. It takes lots of patience, perseverance, and luck to find one unicorn.&nbsp; There are many other professions where &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/atuljha.com\/blog\/2020\/11\/18\/long-game\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Long Game&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,3,121],"tags":[1018],"_links":{"self":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/5109"}],"collection":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/comments?post=5109"}],"version-history":[{"count":3,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/5109\/revisions"}],"predecessor-version":[{"id":5112,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/posts\/5109\/revisions\/5112"}],"wp:attachment":[{"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/media?parent=5109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/categories?post=5109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atuljha.com\/blog\/wp-json\/wp\/v2\/tags?post=5109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}