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by jasmer
1073 days ago
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Just because Calpers fails doesn't mean the industry is a failure. VC is a wide gamut, the top 25% generates something like 30% IRR while the bottom 25% is negative return. LP in VC is just like VC - have to get in on the good deals and I think maybe since it's harder to evaluate deals, than say for building some homes, a lot of money goes to crap. |
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