I'm working on a new essay on the rise of services-led firms, and wanted to publish the outline here for comment. (Also I need to write a conclusion to all of this)
- Old school: "Great entrepreneurs will come to us"
- Lots of trends driving differentiation of capital
- It's cheaper to start a company
- There's more seed money
- More information on terms, firms, etc.
- Barbell strategy means that growth deals are happening when traction is obvious. More capital chasing obvious deals.
- The services of the General Partner get unbundled
- Previously, all-in-one: Noney, expertise, oversight, network
- Now: Money+oversight from GP, expertise from advisors, network from services team
- VC marketing looks like SaaS marketing
- Content marketing