Dear VCs, Just Give Up - by Michael Dempsey - On My Mind
mhdempsey.substack.com · 864 words · saved by 1 readers
It's over.
Dear VCs, I’m writing to inform you that you should just give up. Do not pass go. Do not collect management fees. It is over. The big funds are coming down to seed and they are going to do every deal. A $5B fund is now going to fight you for 10-15% of a two-person company and they will always win. Founders will take the known brand over your boutique that might not exist in ten years, even if the partner on their deal is announcing their next chapter by the Series B. Just give up. Everyone knows the only thing that matters is if you can get into the best companies in the world. As we have…
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