I'm the biggest LP in every one of my funds. About 13, 14%. And I don't have any LP who's more than 10%. And on top of it, I have 30% carry. So really, I'm 40 something percent of the economics.
“You know, I never felt that I needed to do it.”
why a manager would be willing to give up upside in order to show DPI today and help them raise the money. You know, I never felt that I needed to do it. And I first of all, I'm the biggest LP in every, in every one of my funds. I'm the biggest LP. Every single one. Can I be blunt? How much of a fund generally are you? Like, 10%? About 13. About thirteen, thirteen, 14%. And I don't have any LP who's more than 10% in the in any given fund. So I'm always every single fund, I'm the biggest, LP. And on top of it, I have 30% carry. So so, really, I'm 40 something percent of the economics. So, of course, I think it's LP, and and I'm trying to maximize the the the long term value, and I don't want to shortchange myself as an LP. So I I believe, by the way, in radical alignment with LPs, And this is why I set up by the way, I pay myself zero. I don't see anything, which is very unusual. I don't know any VC in the world, as far as I know, that has,
Why this clip
Reveals a contrarian fund structure where the GP takes massive personal risk and upside. The specific percentages (13-14% LP stake, 30% carry vs standard 20%) make this highly quotable and demonstrate radical alignment that challenges industry norms.
What they said next
Every investment I have to ask myself, is this company a likely beneficiary of AI or not? If the answer is that they're a victim of AI, obviously it's an easy answer. But even if the answer is neutral, still the answer is probably no.
7:02 - 37s · Practical Framework
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