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by aothman
1921 days ago
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TS does not fight the math of venture capital the same way Indie.VC did. My understanding from Einar (and the reason I made an LP commitment) is that the same extreme power law of returns that characterizes traditional early-stage venture is at play in Micro-SaaS: the exits are an order of magnitude smaller but you also buy in at prices that are an order of magnitude smaller. It may be telling that, in response to my "Seed investments follow an alpha < 2 power law" paper, Bryce (whom I have never met) posted something dismissive on twitter whereas Einar reached out to me to discuss how he could validate a similar hypothesis for his own investing. |
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