We’re just highly skeptical about most traditional decision-making models, which we think are focused on process and not results. At most venture firms, you have to be at Monday meetings, when maybe you should be meeting with a great company. Everyone has to talk for roughly the same amount of time. And there’s this strange pressure to approve someone’s deal, even if you’re skeptical of it, because you want to get your own deal approved. We think [that approach] doesn’t produce particularly good results.
[We may also be] idiosyncratic in that we have an overlapping social life. If you hang out with each other and spend a lot of time together and your hobbies are the same, then you don’t need a Monday meeting because you see each other all the time. We see each other constantly. I had dinner with [principal] Toby [Prosky] last night. [Partner] Ken [Howery] was my college roommate. And Ken and Luke [Nosek, another partner at the firm] live together.
— Innovation of the Venture Capital Model
