The HARSH TRUTH about Job Expectations in the Venture Industry

Name: The HARSH TRUTH about Job Expectations in the Venture Industry
Uploaded: 2024-01-25T15:01:05+00:00
Duration: 36 s
Channel: Jason M. Lemkin
Description: Jason M. Lemkin says emerging venture managers are promising LPs 8x returns while their early investments have only returned 1x. He describes a…

25 Jan 2024 · 1 min

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Jason M. Lemkin says emerging venture managers are promising LPs 8x returns while their early investments have only returned 1x. He describes a charismatic manager confidently projecting 8x returns despite modest track record, arguing the industry needs more humility about what's actually achievable.

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I think there's more jobs in venture than there ever would. And if, and if you thought it was easy, you're delusional. Maybe, maybe there is a generation that, that there definitely is a generation that thought it was easy. And it stemmed to solo GPs and new emerging managers who emerging managers for the last 4 years thought it was so much easier. Every emerging manager promised their LPs 8x net, 8x net. I remember talking to one who I loved. I love this, this, this emerging manager, but all his initial investments were at 1x. Everything was at 1x for a variety of reasons. And he's going out promising 8x. I'm like, you have a lot of charisma, but maybe tone it down just a little bit, but he was 100% sure he was going to do 8x in 2020, 2021.