The IO Podcast: Investor + Operator David Haber of a16z: Building a Firm vs Fund + What a16z is focused on in 2026
31 snips
Mar 10, 2026 
David Haber, general partner at Andreessen Horowitz and former founder-CEO of Bond Street, shares his firm-building perspective. He explains the idea of 'Firm over Fund' and how operating platforms and networks help founders. He also discusses where a16z is focused in 2026 and why scaling venture and M&A could matter this year.
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How Plaid Landed Its First Big Customer
- David described sourcing Plaid at Spark by recognizing APIs and transaction data as a new infrastructure opportunity.
- He introduced Plaid to Peyton Sherwood, who made Venmo Plaid's first and biggest early customer, accelerating adoption.
Why I Left VC To Start Bond Street
- David left Spark to found Bond Street to build lending backed by modern APIs and underwriting.
- Bond Street raised a $1M seed, secured $100M of Jefferies balance sheet, then sold the team to Goldman in 2017 when lending multiples collapsed.
Firm Over Fund As A Competitive Advantage
- Firm over fund reframes VC as a company-builder asking where compounding competitive advantages (moats) come from.
- David treats Andreessen as a firm with delegated specialists, an operating platform, and CEO-level leadership to scale advantage.