Many observer the industrial efforts you have wondessen horowitz, a company that manages $ 45 billion, having the final scene will be a public company. Co-founder Marc Andressen said that no “chomping easily capture firm,” this week, investment this week like the best podcast. But he discussed the purpose of built a16z into a resistant company, represents JP Morgan and the main equities company. History, Business Capital Business has become a partnership consisting of “small tribes of people who sit in the room together, try to respectively when making investments,” Andressen said the podcast. The problem with the partnership model, he depends on the idea and expertise of the people at the table with “no value of the underlying asset,” as described. After the original partner retired, the army is worth the price, even though the generation of the new investor takes. “But even if they can move on, there is no value of the underlying asset. The next generation is going to give up to the third generation,” he said. “You may fail in the third-generation. This will be Wikipedia on the other day: The firm is there, and then go.” The movie model can be more. Billion A16z according to management returned enough money management fees for the company, in addition to profit made during successful investment. However, Andressen said he continued to remind the internal staff and a limited partner that the company did not produce money only to harvest the cost. This is to provide cash companies to invest in large companies. “When we go to a scale, because we think it is necessary to support the types of the company you want to help the founder,” he said. Andressen said that a larger target for A16z was making a living company. An alternative to partnership is to build a business investment company, meaning staff management, various layers of layers, and training programs, andrersen said. There is always a prececeden of small partnership developing into a large company, which can be used by Andressen that can be used as a model for A16Z secretion. “Goldman Sachs and JP Morgan, 100 years ago, look like a small capital company,” he said. “Then the leaders, for a long time, francais and general companies.” He was also named other example, as well as from a private partnership into a common company like a great equity company. Blackstone, which now has market capitalization over $ 200 billion in 2007. Apollo, KKR, and TPG contains that the company grows from partnerships, long-term successes become dependent from several major investors. “The big part of what I’ve done is to make a fun aspect,” he said. In many ways, Andressen Horowitz has seen like operating companies than many VC companies. A16Z has a dozen person in a marketing group and a team that helps the portfolio company conduct the talents and sells produce. The firm execute a separate crypto, bio and health, and a national dynamic strategy. But it is possible that other reasons are obsessed to sync the classic VC system. When it comes to partnership, say that, “it is true that is, what you find is the true person not happy with each other.”
