Larry Aschebrook

Larry Aschebrook, Founder & MP @GSquared: How We Lost Money on Uber and Made Millions on Lyft

Larry Aschebrook, Harry Stebbings

G Squared founder Larry Ashbrook leveraged a concentrated, "productively paranoid" strategy to generate $800 million in returns from Coursera and establish a top-ten stake in Spotify before a 2021 pivot revealed significant capital erosion from overpaying for assets like Getir and 23andMe. Following these missteps, which included a personal $2–3 million loss on Theranos and an estimated $500 million total value decline, the firm restructured its 2020 vintage to prioritize DPI metrics, IRR hurdles, and disciplined guardrails over traditional valuation multiples. Now navigating a tough fundraising climate for its $1.2 billion 2022 vintage, the firm has shifted focus toward AI infrastructure and high-frequency micro-transactions to rebuild capital efficiency while maintaining a portfolio concentrated in only ten high-conviction companies.