Evidence receipt / belief
Published · transcript-backedDavid Rosenthal: belief
26 Sept 2019 Acquired Sequoia Capital (Part 1)
“We learned at Wave, which was that even with all that raising a first time fund, is really freaking hard.”
Source trail
Everything needed to verify it.
- Speaker
- David Rosenthal
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 26 Sept 2019
- Publisher
- Acquired
- Episode
- Sequoia Capital (Part 1)
Transcript context
…Because there are no LP’s. Well he has the stamp and imprimatur of Capital Group, one of the most storied money managers in the world at that point in time. Don learns a lesson that generations of people who start new firms have learned again and again. We learned at Wave, which was that even with all that raising a first time fund, is really freaking hard. Yeah, and what Don was doing is raising a first-time fund for an asset class that didn't yet exist. For Don, there weren't a group of investors who were used to putting money in this risk-return profile. It was going and convincing them, “Hey, there's not really a historical data on this, but you should take a flyer, not only on me, but on this entire concept.”…
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