What podcasts say about Sam Lessin
Every statement, with the speaker, the exact quote and the moment it was said.
What Sam Lessin has said on podcasts
10 statements · 3 positive · 4 negative · 1 mixed · 2 neutral
Prediction markets can disseminate information about the world.
“there should be a market in everything because that's actually how you can pump information through the world, understand what's going on”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 6:06
Sam’s fund experiences approximately a 1% fraud rate.
“I think we probably run about a 1% oops, it was fraud rate at our fund.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 30:48
Due-diligence intensity should scale with investment check size.
“I think it scales with the size of check”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 31:50
Larger venture checks require substantially more due diligence.
“you can't afford that much due diligence if you're writing a $100,000 check. Correct. If you're writing a $100 million check or a billion dollar check, you can't afford to not do it.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 32:01
Trusted co-investors caused Sam’s fund to rely on their diligence.
“the diligence was we love these people. They think this founder is great. They're doing it. And like, we're sidecarrying it and coming along for the ride, drafting on their diligence.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 37:33
Sam predicts a16z will not fund Elizabeth Holmes’s next company.
“Adam Neumann, can his next company get funded by a16z? That's not going to happen for Elizabeth Holmes is my bet.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 54:34
Sam might trade Holmes’s company but would not hold it long term.
“as a capitalist, I might have to take the trade and the risk on the trade, but I would not be a holder of it.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 55:41
Seed investors should secure durable, unconditional pro rata rights.
“these docs have pro rata rights in them, right? They're not pro rata rights contingent on other people. They're not pro rata rights that kind of die after a round, they're pro rata rights.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 1:04:23
Seed venture funds cannot operate successfully without pro rata rights.
“the seed business model doesn't work without pro rata rights.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 1:04:42
Sam considers pro rata rights essential and will defend them indefinitely.
“for me, they're completely ironclad and important, and I will fight for them forever.”
Open the episode · We asked 3 VCs: would you invest in Elizabeth Holmes’ next startup? | E2353Listen at 1:06:40
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.