Avi.eth

15+ Solo VCs writing checks now 👇 Manu Kumar — K9 Ventures | Pre-seed deep-tech | Lyft, Twilio, Carta Gloria Baeuerlein — Puzzle Ventures | €21.5M | European B2B SaaS Soona Amhaz — Volt Capital | Crypto seed | Nansen, Farcaster, LayerZero Steve Anderson — Baseline Ventures | 50+ exits | First check into Instagram Katie Haun — Haun Ventures | $1.5B | Largest solo female VC debut ever Robin Haak — Robin Capital | €10M | B2B SaaS, Europe & US Shruti Gandhi — Array Ventures | $150M AUM | 77 first checks, 15+ exits Raymond Tonsing — Caffeinated Capital | $400M Fund V | Airtable, Boom Nisha D. — Andav Capital | Overlooked markets | Ex-Google, JPMorgan Lolita Taub — Ganas Ventures | US & LatAm | 90+ investments Jenny Fielding — Everywhere Ventures | Global pre-seed | SaaS, fintech, climate Francesco Perticarari — Silicon Roundabout | Deeptech | £100K–£300K checks Sarah Guo — Conviction | AI-first | Harvey, Mistral, Sierra Alexia Bonatsos — Dream Machine | $25M seed | Consumer, crypto, gaming Brianne Kimmel — Worklife Ventures | Deel, Webflow, Hopin | $40B portfolio value

At your lowest he will come to guide you ❤️‍🔥

Ignoring Chanakya’s words is the first step towards self-destruction.

Golden words by NSA Ajit doval - If the mind is strong, the future is bright. If the mind is weak, even opportunity looks dark.🇮🇳

I’m DONE. 40 FUCKING YEARS of sweat. Two degrees. Busted my ass. Raised good kids. Paid every damn tax. Obeyed every law. Voted like they told me to. And for what? A system that laughs in our face. Politicians who lie straight to our cameras. Promises of “better days” that were just bait. While THEY cash checks and WE get the bill. We built this country. We carried it on our backs. We’re the suckers who still believe in “hard work pays off.” Newsflash: It doesn’t. Not anymore. Not for honest, humble, middle-class Americans. We’re not “slaves” anymore. We’re awake. We’re pissed. And we’re not shutting up. Who else is fucking DONE being exploited? Drop a 🔥 if you’re with me. This ends now.

Jaimie Dimon last night when JPM started marking down valuations and reducing credit lines to private credit. 👇🤣

Babies stop crawling on a glass floor, revealing early depth perception and fear of heights.

Identifying power law companies. 💥💥

SIGNS OF A HIGHLY INTELLIGENT PERSON: 1. Talking to Themselves: Average people often look for others to validate their thoughts. Intelligent people can think through problems by talking to themselves, almost like holding a private meeting in their mind. 2. A Unique Sense of Humour: Their jokes are often clever and layered. Not everyone understands them because they rely on deeper thinking rather than simple humour. 3. Strong Observation Skills: They notice details quickly and analyze situations fast. A classic example of this trait is the fictional detective Sherlock Holmes. 4. Learning From the Past: They don’t dwell on regret. Instead of saying “I wish I hadn’t,” they focus on the lesson and move forward. 5. Open-Mindedness: They listen when others speak, especially if there is value in what is being said. They are less likely to be swayed by manipulation or empty rhetoric. 6. Limited Negativity: They avoid unnecessary negativity. Instead, they think through possible problems in advance and plan accordingly. 7. Determined, Not Stubborn: They stand by their ideas but are willing to listen. If communication doesn’t solve the issue, they simply walk away. 8. Comfort With Isolation: They often enjoy quiet time alone, sometimes listening to instrumental music to focus and think clearly. 9. Managing Anxiety: Many intelligent people experience some level of anxiety, but they learn how to manage it rather than letting it control them. 10. Intentional Loneliness: Their solitude isn’t about sadness. They spend time alone to reflect, think, and reconnect with themselves. 11. Personal Obsessions or Collections: They often have a strong interest in something, whether it’s collecting items or deeply engaging in a particular hobby. 12. Strategic Reading: Instead of reading everything word-for-word, they focus on the parts of books that contain the information they actually need.

Must read — @matt_levine takes on the ever illusive illiquidity premium. (With a great citation of @CliffordAsness no doubt) bloomberg.com/opinion/newsle…

US private credit DEFAULT rates could reach levels not seen since the Financial Crisis In a worst-case scenario of rapid AI disruption, UBS projects US private credit defaults could hit 14–15%.

Well well well... BlackRock marked a private credit loan at 100 cents on the dollar in Q3. By Q4, it was a big fat ZERO. Not 80. Not 50. ZERO. In 3 months. This is the second time $TCPC has done this recently. Renovo went from par to zero in November. But sure...the marks are accurate and timely.

NEW FROM QUIVER on the strikes on Iran

BlackRock slashes another private credit loan to zero. Three months ago it was valued at 100 cents on the dollar:

Cracks in the US private credit market are intensifying: Blue Owl Capital shares dropped -22.7% in February, posting their worst month on record. This marks the 7th consecutive monthly decline, the longest streak in history. Meanwhile, short interest in Blue Owl is up to 14.7%, an all-time high. S&P Global puts short interest even higher, at 17.9%, up from 14.3% last week. Blue Owl was also the most borrowed stock among all US equities on Wednesday, with over 19 million shares on loan. All while financing rates to borrow the stock are up +266% MoM, signaling aggressive demand for shorts. The private credit selloff is accelerating.

When you get Lloyd Blankfein of $GS warning "I smell a crash coming" and now Point72 David Rosen saying private credit is a fraudulent bubble... all within 24 hrs of each other... I dunno. Wall Street seems ... nervous.

News @TheTerminal Softbank is seeking a loan of as much as $40 billion to mostly help finance its investment in US tech giant OpenAI, according to people familiar with the matter, in what would be its largest-ever borrowing denominated solely in

Rubric Capital, a hedge fund founded by a former Point72 manager David Rosen, wrote a private letter to their LPs effectively saying private credit is a fraudulent bubble. "Our key takeaway from this behavior is that distribution cuts are so worrisome that some bad actors are playing Enron-like accounting games" per the letter Letter called out Cliffwater, the biggest operator of interval funds and an aggressive player in selling private credit to individual investors. Cliffwater’s largest fund, started in June 2019, has since reported a total of just three negative months of investment performance. It now manages $33 billion. The first opportunity this year for investors to ask for their money back is next week. The note surmised that Cliffwater could be “a canary in a coal mine.” and the first domino of many The bubble might blow soon reuters.com/sustainability…

if you are quietly considering a career move, dm me or send me an email haley@hustlefundvc.com subject: "HF Job Search"

The very first hire at Coinbase was a former lumberjack. That guy is a billionaire now: