20VC: 50% of Funds Will Go Out of Business | Why Growth Expectations Today are BS and Will Not Last | Why Oren Zeev Takes $0 Management Fees But 30% Carry | Why GPs Should Not Tell LPs Their Strategy
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I think this notion that only growth matters is a very dangerous one. And I've seen this movie many, many times. We humans are not truth seekers, we are self-validation machines. And every one of my fans, I'm the biggest LP. Every single one.
By the way, I pay myself zero, so I tell LPs I only have one rule. And that rule is that I have no rules. AI is the biggest change ever in the history of humanity. This is 20 VC with me, Harry Stebbings, and today we have one of the most prominent solo capitalists in venture, Orin Zev, who now manages over a billion dollars in AUM. My favorite thing about Orin, there's no show, there's no facade.
He is so authentic. He has no rules when it comes to investing. He tells LPs exactly what he thinks. He has zero management fees. He takes 30% carry.
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