The websites of most VCs have a stated investment thesis in SaaS, cloud, mobile, social or some combination of each. Are these really investment theses? Still? No, they’re realities, and this is worrisome.
While SaaS, cloud, mobile and social have been drivers of big success for many funds and entrepreneurs over the past five years, theses-turned-realities cannot continue to drive outsized returns.
I started thinking about this when reading Tren Griffin’s post on Marc Andreessen. Tren summarizes Marc’s view on venture investing into four quadrants along axes of consensus/non-consensus and success/failure. It’s simple but powerful stuff:
A VC that continually makes consensus bets is not likely to have long-term success, especially if there are too many execution failures…
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