David Rosenthal: prediction

Transcript context

…They would later call these networks. Each individual function, recruiting, finance, or acquiring enterprise customers, they call these networks at the firm. Yup. We're going to do that. We're going to not necessarily focus solely on Series A. We'll do Series A, Series A is great, but we'll also do seeds. We'll also do growth rounds because we think there's opportunity there, and we can break in. Then government things, like sometimes we'll take board seats, sometimes we're not going to take board seats, but we don't necessarily need to, and maybe that will help us scale. I would say all of that collectively becomes the counterposition against Benchmark. You know it works to varying degrees. On the whole it works great. There are a few specific things that don't work. The seed and the governance in particular, I think these are good ideas and they work now, but at that time, they started to inadvertently leave a pretty big flank exposed to old school VCs here which becomes the signaling effect. This became talked about for 5–7 years after this was an issue.…

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