The Learning Corner by Precursor
Welcome to the Learning Corner, a weekly Precursor Ventures podcast, where members of the Precursor team walk through their favorite articles and news snippets across the venture ecosystem.
Episode #62: Firm Over Fund, Relevance Decays, The Privilege of Belief
This week we explore David Haber's framework on why most investors run funds but few build lasting firms, and what it takes to create a defensible moat in venture capital. Sarah Guo reminds us that relevance decays without constant market engagement, especially in the compressed timelines of AI companies where first principles thinking matters more than inherited pattern matching. We close with Michael Dempsey's piece on the privilege of belief in early-stage investing, examining what steadfast conviction looks like when operating with incomplete or no data. From institutional durability to personal conviction, we unpack what separates temporary success from lasting impact in venture.
Key Points
- Belief in a founder's potential and vision is crucial, even when faced with early-stage challenges and competition.
- Building a lasting venture firm requires a strategic focus on technology, human capital, and a culture that extends beyond just raising funds.
- Staying relevant in venture capital demands continuous active market engagement and avoiding complacency, regardless of past successes.
Chapters
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Transcript
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