A few weeks ago, a friend and I hosted the first of a series of social experiments between LPs and GPs, which the placeholder name for all of this is Allocation Games. Within which, we have a set of Family Feud-esque events, which we’re calling “Investor Feud.” For those unfamiliar with Family Feud, the show asks 100 people a series of questions which then during the show, the two sides tries to guess the most common answers to those questions in efforts to generate points.
We did the same.
So we asked about 30 LPs and 30 GPs 3 questions for a game we were going to play the next day. Having sent the email at 7:30PM, and needing responses within 12 hours, we only received responses from 38. 25 of which were LPs. So use that as the lens to interpret the responses below.
But given the responses, I thought it might be interesting to share some of the responses we got.
Admittedly, all the responses here are to be expected. So nothing more to comment on here.
I actually, didn’t think LP preferences would rank fifth. Given how many responses from LPs we got, I thought more LPs would have brought up the fact that many GPs don’t ask an LP what they choose to invest in. But alas, it’s still in the top 5 of responses.
Funnily enough, I was at an AGM yesterday where I heard an LP compliment the GP presenting that he was glad the GP didn’t just read the slides. But what I thought was the most interesting out of the responses we received was that many of those who responded gave actual examples of things they didn’t like. For instance, at one AGM, the team had caviar on tap. The LP who submitted the response then said, “I could see my dollars disappearing before my eyes.”
I also think the second and the sixth response, no time for networking and virtual AGMs go hand-in-hand, most virtual sessions leave very little time for networking and even those who do have it too structured.
Also, yesterday, in a separate catchup with a long-time LP friend, we were talking about the agenda for the best events out there. And he said, 50% of the time for structured panels and talks, and 50% for networking, and ideally smaller, more curated audiences, which he cited the Alignment Summit just last week as a great example of that structure.
P.S. For the rest of the responses that have intentionally stayed hidden, I’ll leave that to your imagination. Let’s just say the responses were… interesting.
Stay up to date with the weekly cup of cognitive adventures inside venture capital and startups, as well as cataloging the history of tomorrow through the bookmarks of yesterday!
The views expressed on this blogpost are for informational purposes only. None of the views expressed herein constitute legal, investment, business, or tax advice. Any allusions or references to funds or companies are for illustrative purposes only, and should not be relied upon as investment recommendations. Consult a professional investment advisor prior to making any investment decisions.