A short conversational transcript (YouTube) featuring Jason M. Lemkin and another speaker discussing how investors should allocate time across portfolio companies. Key claims: winners often don't need intensive help, losers may still fail despite help, and 'middle' companies likely benefit most from an investor's time. The discussion also ties time spent to fund returns and concerns about loyalty.
It ties to how involved to be like the 5x versus 1x. But I actually don't know if you can see it early enough to really have those impacts you described.
A lot of people worry about just loyalty. Quite right. How do you feel about that? Spend time with your winners. They're the ones that return the fund.
I mean, I don't know. I think it's a little bit weird where the winners don't really need you, so spending time with them doesn't really change the outcome. The losers really need you either because they're going to lose. So it's actually kind of the people in the middle that probably need you the most, you know, and so really it's just spending time with those, like, if you spend time with like Airbnb or not. I don't know. Also, I've never seen those ones actually fail if they're a hundred percent committed and they have any customers. Right. And I actually think the difference between 0.5x and 1x can be huge if it's. If the fund's in carry mode, like, you can make mil. You could also make mil. Maybe you don't make $100 million, but let's not be gleeful.
