Sun Tzu said: ‘If you know the enemy and know yourself, you need not fear the results of a hundred battles’. When seeking investment, it helps to understand the business model of the firm you’re pitching. @Scott Kupor, the founding partner of @Andreessen Horowitz, has provided an insightful view of how of venture investing really works. All founders planning to operate in the venture-spectrum should take a moment to read Scott’s book and learn from one of the best in the business.

Venture operates on a power law curve. One or two investments return almost all of a fund’s upside. Hence why so much of the pitch discussion focuses on size of market and ‘how big can you get’ type questions. As Sun Tzu implores, understanding this will help shape your approach to pitching; and more importantly, whether you want to pitch in the first place.

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