Monster F-it Funding Rounds, Golf Curious VC

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Sam Lessin's end of week roundup ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

More or Less: OpenAI 'VC' monster money (but big tech co chump change), Apple, Japan, and VCs congratulating themselves — We talk about this OpenAI bananas fundraise (because how could we not)… and run through a variety of arguments about if Japan is cool or not, if Apple intelligence / AI matters, and several notes on the pop-culture corner including the fact that one kid is the grandchild of both Tony Hawk and Kurt Cobain.

Some Hot Takes:

Doubling Down on Creator-First-Community Investments… for a while now we have been pushing the envelop on funding the new ropeadope pattern where entrepreneurs build community and cults FIRST and layer product and services later… build trust, drop your CAC with a high LTV audience to zero, know thy customer, build a media machine… THEN build the product… We have a bunch of exciting announcements around this coming, but the first is that Billy Parks is joining slow as a venture partner — coming from Chernin where he helped do some pretty iconic work around media driven businesses… he is gonna help me and Megan double down here…

Global Sadness the Middle East … oy vey. While complicated, I really respect the Israeli sprit of action / willingness and competence in doing what has to be done… but what a sad sad situation. Also OMG asheville! I couldn’t have put that place on a map even 4 months ago, but Mav and I just visited on a gem hunt and it is very sad to see a city with so much hope get crushed that way!

Harvard Mission Changes in Stark Relief…. a months ago I put out my ‘state of harvard’ slide deck / trying to digest what is going on and a tactical action plan going forward for the school… seems like Bill Ackman liked the idea / just put out his own.. the most powerful point he makes is looking at the evolution of the Harvard mission statement over time… great illustration - and it is really weird that these institutions supported by generations of donors can just change their mission at will? .. clearly they need to go back to where they were / the one that everyone got behind for a century!

Nobody Wants This cute show — congrats to the foster sisters …. You know what isn’t good — this nantucket murder mystery show ‘the perfect couple’ — yuck.

Golf went to learn to play with some VCs this week at half moon bay (thanks for the invite). As VCs become traditional asset managers with a better cover story the golf lessons were bound to start... ran into even more VCs and LPs at their AGM (which of course I crashed, very fancy indeed... and like zero security!) — my takeaway — No…. No golf for me, I would still like to deliver returns. Still don’t get it. So I guess I am not fully a suburban asset managing convert... but if you want to run into VCs for whatever reason use that free beach access parking at half moon bay

NotebookLM from google — is really quite good — have i mentioend that I think the incumbants are gonna suck all the money out of AI :) …

VC is clearly very confused right now — it is just such a weird moment — CRV returning funds (good on them) … little seed funds want capital efficiency and returns… big funds want to shovel into furnaces — LPs are ‘out’ where they can be… i have more thoughts, but for now I would just say what a weird moment and I feel good about my ‘state of VC’ deck from last fall

Shana Tova,
Sam

P.S. Some Social Media Fun — don’t forget that the internet is hilarious and joyfull! here is some of the things I sent to my wife this week… it is unclear if she watches any of these, maybe you will tho…