Chris Dixon: Things I'd do if I ran a big VC firm

Comments on the ones I found interesting (OP's already pretty brief)

#1 Lower management fees - Great idea from my outside perspective, but it'd worth knowing where those fees actually go in the first place. Some of it might even be useful (e.g spending time networking incurs costs - conference fees, travel, etc c.f #10)

#2 Keep a records of all employees in investee companies - Hmmm, nice idea but not too sure about the data-protection issues. As an employee, do I want my company's investors keeping tabs on me? Also, as a CEO, do I want my investors to keep tabs on my employees? What if we disagree about the impending death of the company and they try to pre-emptively poach someone for another portfolio company? (Perhaps this already happens).

#4 Have everyone tweet/blog authentically - Not convinced that all people in firm need to do this. One or two high profile folks should be enough. Public writing is not easy so leave it to those who want to do it.

#7 Have offices that look and cost like startup offices - If you're running a big VC firm, I'm not sure you can get away with 'startup' offices. Startup office are cheap because they have to be. Not necessarily because it's the best way for the company to operate. I see no reason why a VCs office needs to be anything like a startup's office.

#11 Have far fewer meetings with startups - i.e kiss fewer frogs. I don't think this works. You only get to do this if you're a very well known, successful VC because then good deals find you. Otherwise you need to be meeting lots of startups.

#14 Use brand to...recruit top talent (particularly engineers) from top schools [for portfolio companies]... - This is quite interesting, but I don't see it being particularly successful. People want to join companies, not necessarily join whatever portfolio company the VC thinks they might be useful for. It could also complicate the company dynamic e.g who does this engineer really report to? If there's a dispute, then what happens?

Edit: Removed the ones I didn't have many comments on

It's interesting what a large percentage of these we do. Almost all of them.

The financial anatomy of VC firms came as a surprise. It wasn't till I read "mastering the vc game"# that I understood how fucked things are.

The strucure breeds mediocrity and the culture that founders hate.

Unfortunately, the people that need convincing are investors in VC firms. Bad returns are the only thing that will convince them. Many regard the category of VC as doomed to significantly shrink; this small chunk of finance in general can't support itself. There are more VC firms than successful exits.

# horrible name, good book

I find the tips relating to "VC as Staffing Agency" the most interesting. I wonder if this stems more from the NYC startup issue of competing with wall street for talent. If the focus is working for a portfolio company of [X], rather than startup [Y], it gives some brand cover for recruiting. It also allows startups to pool resources for recruiting by sending one recruiter to schools for the portfolio rather than each startup having to spare an employee for a few days to give a canned talk.

Many of these are good ideas that the better vcs already do.

The "own x%" thing has to do with LPs and is probably unavoidable.

while reading this it struck me that we do most of these things at YC.

Most of these sound like pretty good ideas. Most firms probably don't do them just because they don't have to unfortunately.

(what I would change) / (why i dont actually run one) != what you you think it is.

"- don't talk/tweet/blog about your vineyard, yachting, golfing etc while you tell your CEOs to work non-stop and be frugal etc. "

I don't really get this one. It seems like great advice for the CEO of a company, but not for a venture capitalist?