What Carta's Peter Walker Won't Say, But I Will
The Venture Model Isn't Broken Because Founders Raised Too Much—It's Broken Because 46% of Seed Rounds Are Now Bridge Rounds to Nowhere| Venture Capital 2.0
There is blood on the streets, and Goldman just bought the mop company. Its deal to acquire Industry Ventures is an acknowledgment that the crisis is here: late-stage tech and AI portfolios are stuffed with assets that won't clear at book, exits are anemic, and continuation funds have| Venture Capital 2.0
From Deal Structure to Portfolio Strategy Most venture studios fail because they try to develop the wrong companies at the wrong time, or they try to shoehorn themselves into someone elses idea of what a "Venture Studio" is. They launch as "startup factories," attempting what I| Venture Capital 2.0
The Contrarian Investment Thesis The AI venture capital bubble will inevitably unwind over the next several years, creating an unprecedented opportunity for value capture in the history of technology. More than a hundred AI companies valued at hundreds of billions of dollars will face severe capital constraints, requiring new structures| Venture Capital 2.0
The Convergence of Studios and Family Offices For decades, venture capital has operated as a closed ecosystem between institutional Limited Partners (LPs) and the General Partners (GPs) of Funds that litter much of Silicon Valley. Family offices—despite their immense capital pools and entrepreneurial heritage—were historically sidelined,| Venture Capital 2.0
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Research Dossier for Emerging Managers and Venture Studio Operators| Venture Capital 2.0
President Trump is preparing to sign an executive order that would open $12.5 trillion in American 401(k) retirement savings to Silicon Valley venture capitalists—the same investors who are being abandoned by sophisticated investors worldwide after catastrophic losses. The executive order, which could be signed imminently according| Venture Capital 2.0
The Traditional Model's Current Challenges The venture capital industry faces significant structural challenges. As documented in comprehensive analyses of the post-2021 market dynamics, traditional VC has experienced what observers describe as a "Bridge Round Epidemic"—with 46% of all seed rounds now serving as bridges| Venture Capital 2.0
Peter Walker's latest Carta data reveals a brutal truth: if your startup hasn't raised Series A within 24 months of seed funding, you're essentially dead.| Venture Capital 2.0
Mid-Year 2025 Venture Capital Forecast Update Six months into 2025, the venture capital landscape has evolved in ways that both validate and challenge our initial annual forecast. While my prediction of continued AI dominance proved prescient—with artificial intelligence capturing over 50% of all venture dollars in Q1—| Venture Capital 2.0
I turned a decade of venture capital data into a handy interactive chart to illustrate the moment the VC industry became terminally ill. The cause of death? Between 2007 and 2017, zero interest rates infected venture capital with a disease that transformed innovation's lifeblood into its poison.| Venture Capital 2.0
Complete Data and Research Blueprints Premium Subscriber Exclusive Edition| Venture Capital 2.0
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Remove mega-funds from VC data: $368B→$50B. That's an epic collapse hidden by Venture Banks. The good news? The exodus sparked a funding revolution—venture studios, revenue financing, corporate VC. The old guard killed VC. The vanguard doesn't need it.| Venture Capital 2.0
The Venture Model Isn't Broken Because Founders Raised Too Much—It's Broken Because 46% of Seed Rounds Are Now Bridge Rounds to Nowhere| Venture Capital 2.0
Research & Support for Entrepreneurs, Innovators, and Investors| Venture Capital 2.0
America's "Innovation Paradox" arises from the mismatch between the current capital investment thesis and the necessity of investment into nationwide sustainable digital infrastructure initiatives.| Venture Capital 2.0
