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Rick Zullo

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  1. 20VC with Harry Stebbings1h 12m

    Jason Lemkin & Rick Zullo: How "Mark to Market" Corrupted Venture Capital | E1052

    Jason Lemkin, Rick Zullo, Harry Stebbings

    This industry analysis outlines a structural pivot in venture capital from a founder-centric model to an asset management framework driven by mega-fund inflation and a demand for $10 billion unicorn outcomes. Participants highlight a critical correction in market valuations where founders must prioritize capital efficiency and profitability over growth-at-all-costs, while investors increasingly focus on AI consolidation and strategic fund splintering. The discussion concludes that historical liquidity cycles will likely revive mega-fund fundraising in late 2024 and 2025, provided firms address the current trust deficit with LPs by avoiding inflated paper markups and rigid thesis-driven investments.