Why do venture capitalists exist?
We’ll have another deck review next week but this week I want to highlight Marc Andreessen’s latest essay. **Make sure you read all the way to the bottom today, we’re hosting some free events over the next couple weeks**
Why do venture capitalists exist? Last week internet pioneer Marc Andreessen who founded Netscape and then launched Andreessen Horowitz (A16z), one of the largest and most successful venture firms of the last decade, wrote an essay entitled “Its Time To Build” and in it he provides the Kernel of an answer.
In the essay Marc calls out the many social and economic failings Covid-19 has laid bare and he exhorts us all to build:
“Every step of the way, to everyone around us, we should be asking the question, what are you building? What are you building directly, or helping other people to build, or teaching other people to build, or taking care of people who are building? If the work you’re doing isn’t either leading to something being built or taking care of people directly, we’ve failed you, and we need to get you into a position, an occupation, a career where you can contribute to building.”
One of the things I think about frequently is how privileged I am to be a venture investor. It is the greatest job in the world. I get to meet some of the most passionate and mission oriented people on a daily basis. People who are vying to build our future.
Every startup I see is the embodiment of someone’s vision for the future. As a venture investor when I make a decision to back a founder, a company and a vision, I am voting with the dollars I steward on the future I want to see for myself and my loved ones.
Being a venture capitalist is a duty, as much as it is a privilege, every dollar invested in photo sharing is a dollar not invested in re-skilling workers, curing cancer, reducing food waste, combatting deep fakes or securing our elections.
Why do venture capitalists exist? We exist or should exist to be the front line decision makers on how limited capital is allocated to cutting edge technology driving the weft and weave of the future. If we make the right decisions not only do we make money through massive value creation but we get to live in a better world with the satisfaction of knowing we were a small part of creating that better world. As Spiderman’s uncle said “With great power comes great responsibility”.
Read Marc’s essay, and think about the future that you’re building for your loved ones its worth the 5 minutes.
FREE ATLAS DROP IN PEER GROUPS FOR INVESTORS, FOUNDERS & STARTUP EMPLOYEES:
Leaders: You are not alone. You are managing your changing personal life, an uncertain economy, the fears and challenges of your team, how to prioritize your time in a new environment.....
Get support from your peers and find out how they are navigating the COVID landscape in this free drop-in peer group. Atlas Executive Coaches will be there to guide the group:
VC Investor Group: https://www.eventbrite.com/e/navigating-uncertainty-drop-in-peer-group-for-investors-tickets-102621860748
Founder’s Group: https://www.eventbrite.com/e/navigating-uncertainty-drop-in-peer-groups-for-founders-tickets-102224022804
Startup Employees: https://www.eventbrite.com/e/navigating-uncertainty-drop-in-peer-groups-for-startup-employees-tickets-102451009728
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