#249: Venture Equations: Power Laws, Secondaries, and the Discipline Premium
Over the past two decades, venture capital has quietly—but fundamentally—rewired itself. The rise of trillion-dollar companies, the explosion in unicorn formation, and the strategic maturation of secondaries are reshaping how funds perform, how portfolios are constructed, and how liquidity is planned.
We’re not just playing a different game—we’re playing…
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