Andreessen has been raising massive funds (because they can since investors were flush due to low interest rates) which need to write large cheques.
They aren’t doing traditional venture capital as much as late-stage growth equity. Since no quality company will sell half of itself to Andreessen, this almost necessitates writing a big cheque into a multibillion-dollar round at $30bn valuations, or medium-sized cheques into terrible ones. The former go public at $10bn, the latter go bust.
Andreessen has been raising massive funds (because they can since investors were flush due to low interest rates) which need to write large cheques.
They aren’t doing traditional venture capital as much as late-stage growth equity. Since no quality company will sell half of itself to Andreessen, this almost necessitates writing a big cheque into a multibillion-dollar round at $30bn valuations, or medium-sized cheques into terrible ones. The former go public at $10bn, the latter go bust.