Person · 4 items

Bill Gurley

General partner at Benchmark, author of some of the sharpest contrarian writing on venture markets.

Articles (1)

Article

On the Road to Recap: Why the Unicorn Financing Market Just Became Dangerous… For All Involved

Bill Gurley

Gurley's landmark analysis of the late-stage unicorn financing market: how dirty term sheets, valuation obsession, and the incentives of every player (founders, VCs, LPs, bankers) set up companies for painful recaps. Written at the top of the 2015-16 cycle and vindicated repeatedly since.

Valuation & dilutionTerm sheetsSeries B+

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Videos (3)

Video

Why Venture Capital is a Bad Industry | Bill Gurley

Bill Gurley

Bill Gurley argues venture capital is structurally a bad industry: excess capital, misaligned incentives, and what that means for founders taking money at peak prices.

Fundraising psychologyValuation & dilutionStage-agnostic

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Video

Benchmark's Bill Gurley on VC Landscape and Uber

Bill Gurley

Benchmark's Bill Gurley with Bloomberg on the VC landscape, staying private too long, and lessons from Uber's capital raising for founders and boards.

Valuation & dilutionMomentum & signalingSeries B+

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Video

Bill Gurley on why founders and investors shouldn't pay too much attention to TAM

Bill Gurley

Bill Gurley on why founders and investors over-index on TAM slides, with examples of huge companies whose initial TAM looked tiny.

Valuation & dilutionStorytellingStage-agnostic

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Benchmark on VCMatch See Benchmark's investor profile: stage, check size, portfolio and how to get a warm path.

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