We model upside for every company we look at, aiming for a five times return, and assess the probability of achieving that outcome.

In the startup world, you're betting that 90% of companies will go to zero or just return your money, while the remaining 10% will yield huge multiples and markups.

In our industry, there are about five to fifteen billion-dollar companies created every year. Our goal is to identify at least one or two of these each year from our portfolio.

About 60-70% of companies get stuck at level one or two, leaving only about 30% that reach level three or four.

The growth rates of successful startups can range from twenty to two hundred percent month over month, but they typically cluster around twenty to fifty percent month over month.

When considering the future of a company, it's vital to ask whether it will still be the leading company in 10, 15, or 20 years.

The chances of a startup becoming a $10 billion business are very slim, especially if you start with the goal of rapid growth.

We prioritize markets poised for great growth, as the right market can significantly increase a company's chances of success.

Model out a Series A with expected dilution between twenty and thirty-five percent for founders. I prefer a dilution of twenty to thirty-five percent for founders after two funding rounds, as anything less than fifteen to twenty percent equity may not motivate them enough to work towards a successful exit.