Alfred Lo

First in person catchup with Ron Park of NE Tech. Of course it was an early morning breakfast at Reuben Hills. This guy smashed it at last night’s sellout @startmate Demo Day. Doing special things with oil. #fasterbettercheaper #oilsaintoils

@nikiscevak We have an open spot in our h2h fantasy league if you would like to put that Simmo Triple Double to the test. 😝

Things I believe that no one else believes: Ben Simmons will average a triple double this season and play 60+ games

@rayn_ong @blackbirdvc @rcsbaker @nikiscevak @wbartee @alexaboitiz @danpurchas @bhousman @andrewjrogers Shop the Look at @PUSHASOfficial pushas.com/products/hells…

@apglo @blackbirdvc @rcsbaker @nikiscevak @wbartee @alexaboitiz @danpurchas @bhousman @andrewjrogers iykyk

Post @blackbirdvc distribution splurge survey: 0 lambo, 0 jet, 0 boat, 1 soccer team and 2 $680 hoodies. The biggest HT goes to @rcsbaker @nikiscevak @wbartee for gathering together 100 or so misfits and believers all those years ago. Changed the ecosystem.

Life is often not shortcuts but detours.

Today was a great day for long suffering Knicks fans.

Today was a great day for about 100 LPs.

This is the truth. apple.news/AvIDZyqcsTrSYi…

Massive achievement for these folks. Congrats @peppsyd and team.

Cannot underscore how important Integrity is when it comes to people. Probably the most important attribute IMHO.

Nvidia market cap up 40% in 2024 alone to US$1.7T which is more than the total market cap of all domestic companies combined on the ASX. fortune.com/2024/02/09/how…

@bielinko @liubinskas For a moment I thought I had @bielinko in a rear naked choke for a GP submission but our long standing friendship prevailed thru a common view of being confused by investors who would talk down their portcos to prospective investors but then go on to be a unicorn.

@liubinskas @apglo We started off angrily yelling at each other until we realised that you were the true enemy ;) More seriously, lots of talk on scaling impactful companies

Shared a lot of great stories from a decade of #startupaus with @apglo. Great times!

All the things LPs, GPs and parenthood with this guy this morning. Good to catch up @bielinko!

@bielinko @liubinskas Agree the sweet spot for a solid DPI is in the sub $100m fund mark. May be too early to know but I wonder what portion of these 140 funds will achieve more than 3. I’m over TVPI.

@apglo @liubinskas I think they are different strategies and many are succeeding with $10-100m funds where it is easier to earn a sensible MM (many I know have paid back their funds). A $1b fund just in Oz is underwriting a Canva every few years so wouldn't expect many in Oz.

Crazy idea. Take 0.01% of super funds - $350m Put $5m into 70 new fund managers that align to big themes of future industry (climate, AI, health, quantum) Get them to raise $5m+ matching privately (as ESVCLP's maybe) Give them 15 years to make it work.

@bielinko @liubinskas I should say long standing rather than permanent.

@apglo @liubinskas I hope not, as it will mean less "unusual" companies/founders get funded. But there are fewer barriers to entry in early stage VC than for eg in banking, telco or insurance. It's hard to solve. I see a lot of smaller firms doing well but not having much resource nor marketing

When your FUM is up, care for performance can matter less. This the hunger dilemma between GPs and LPs.

@bielinko @liubinskas This is why we need to continue to build a broader technology and innovation ecosystem. Understanding that these other sectors within them are different - models, GTM, timelines, return profiles. Need operators & investors that understand this and build industries not just firms.

@bielinko @liubinskas This is kind of exactly is the point. What were smaller AU funds that have grown up with larger fund sizes that can only cut large cheques for it to make sense. No doubt they are important to have a full ecosystem but this is why TV and others can’t sate the early stage opps.

@bielinko @liubinskas IMO there are many small funds / GPs today that you could say are sub scale but don’t bring any differentiated approach. No differientated thesis or proprietary deal flow. But thematic focused funds have it tough too bc depth too shallow. Not an easy one to solve.