Want to put something in perspective for a quick minute, here.
We just had the biggest VC quarter in history. But your company probably isn’t getting much (if any) of it. We'll do our part, but Thrive we ain't. They're too busy buying baseball teams and funding grilled cheese trucks that their partners garfield-meets-lasagna'd outside of their offices in Palo Alto (I kid, I kid...but Sequoia actually did that once. No joke. They funded a melty cheese company. Look it up).
65% of that $300 billion in capital went to just four companies - OpenAI, Anthropic, xAI, and Waymo. Three LLM labs and a self-driving car company. The remaining ~$112 billion got split across roughly 6,000 startups around the world. Bananas.
If you're a pre-seed founder in Buffalo, Chicago, or Nairobi, the headlines aren’t lying, per say. The boom is real. It just isn’t speaking your language. The money remains in the Capital, not for you in District 12, you plebs.
That’s not a knock on your idea or your grit. It’s simply where capital is aimed right now - at a handful of bets so large they’ve warped the narrative for everyone else. And yet it's all we see on LinkedIn. Weird. It’s summarily misleading. It reads like a rising tide, like 2021 is back, like if you just keep showing up to enough meetings some of that will just find its way to you.
Statistically unlikely. Your life is still hard.
You’re still playing the same game you were six months ago. Two years ago. Small checks, hard conversations, trying to convince someone to believe before there’s anything obvious to believe in. None of that changed because a few companies raised sovereign-level money. Knowing that clearly beats spending the next six months chasing money you’ll never get. Don't lose faith.
We built Impellent Ventures because this distortion isn’t new. It just keeps getting more extreme. In our opinion, some of the founders who will matter most over the next decade aren’t concentrated in four zip codes.
And neither are we. Keep sailing, fellow pirates.
Oh, and happy Monday!