David Tisch on Why High Ownership and Concentration is BS | Why No Manager Actually Wants to Stay Small | Why Competing with the Mega Platforms is a Losing Game | Why the Lean Startup is a Fake?

David Tisch is the Founder of Box Group, one of the best seed funds of the last decade with early investments in Cursor, Baseten and Clay to name a few. Today the fund invests from two funds, a $275M seed fund and a $275M opportunity fund.

In Today's Show:

• Why we have less dilution now than ever before

• Why I don't want to compete with the best VCs, and why it's a trap

• What concentrated funds know but do not admit to

• Why multiple tranched rounds can be good for founders

• Why the Lean Startup was a total fake

• Why LPs are frustrated by a market that we can't change

• What is the single best-returning investment in the history of BoxGroup?

• Why fund returners are not always obvious in the early years

• Why funding consumer brands at seed no longer makes sense for venture

• Rogo, the now $2B company, got passed on by 39 out of 40 investors

• Why the marketing message that pro rata is not a right is BS

• Why we do not allow negativity in the investment decision-making process

• The true magic of early-stage venture capital

• Why YC has the best business model in all of venture