[seem_2211]

A few thoughts spring to mind:

It seems like the more money you have, the harder it is to deploy it efficiently.

It would be interesting to know the influence of David Swensen (the CIO at Yale), who's put a large portion of their endowment into Private Equity and Venture Capital investment, and how other large funds might be mimicking his strategy.

People always compare VC vs the S&P500 but I wonder if there's a side benefit to VC in that it's not necessarily linked to stock market fluctuations.

Are VC returns in the aggregate going to turn to absolute crap over the next ten years as hundreds of new funds (with a new one popping up every day it seems) all grinding it out - or will we see the opposite, where a lot of these smaller funds have very successful first funds (partially constrained by the sizes they're initially able to raise), only to be dramatic underperformers as they raise second and third funds?

Finally, it seems like more money doesn't make for better results (past a point). The Vision Fund being example A.