Jack Altman on the transition going from building a Unicorn with Lattice to starting a venture firm
Jack Altman offers a refreshingly honest take on the venture capital industry, challenging the common belief that VCs possess superior talent-spotting abilities and calling out the dysfunction in how most investors interact with founders. His perspective as someone who built Lattice into a unicorn before transitioning to Alt Capital provides unique insights into the stark differences between operating success and investment judgment.
Key takeaways
- •Most VCs overestimate their ability to identify great founders and may be operating under cognitive delusions about their talent evaluation skills.
- •The venture capital industry has perverse incentives that discourage investors from giving founders the direct, harsh feedback they actually need to improve.
- •Measuring your investment judgment requires honest retrospective analysis of deals you passed on, not just celebrating the ones you backed.
- •The transition from operator to investor creates an identity crisis around what constitutes productive work and meaningful daily progress.
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Jack Altman
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