The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified cover image

507. Consumer Retrenchment or Reallocation, AI Impact on GTM and Purchase Decisions, How to Balance Consumer Sentiment vs. Behavior, and Where Smaller Funds Win (Natalie Dillon)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

00:00

Portfolio construction for power-law consumer wins

Natalie describes Maveron's barbell strategy: early meaningful ownership and larger follow-on checks later.

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