Friction Is the Feature

Why clarity, congruence, and connection will outlast just 'more capital' strategies.

Last week, two stats caught me mid-conversation and made me set my coffee down (and almost do a spit take).

1️⃣ There are now more PE and VC firms than McDonald’s franchisees.
2️⃣ In 1994, there were about 120 GPs in venture. Today? Try 30,000.

Let that land for a second. We’ve got more people picking winners than there are golden arches.

And yet, most pitch decks still open with the same hand-me-down script:

“We back great founders.”
“We have unique access.”
“We’re hands-on.”