Source: Fortune
Summary
Bill Gurley, a prominent venture capitalist, has stepped back from his role at Benchmark and moved from San Francisco to Austin, Texas. Gurley says the move was not a statement about California or Texas, but rather a personal decision to return to his home state. He is now focused on his portfolio companies and is exploring new interests, including public stock investing and writing a book. Gurley also discussed his decision to step back from Benchmark, citing the need for intense hustle in the venture capital industry and his desire to avoid becoming a “VC that has hung around too long.”
Our Reading
The numbers tell one story.
Bill Gurley’s move to Austin, Texas, and his decision to step back from Benchmark are not just personal choices, but also a reflection of the changing landscape of the venture capital industry. Gurley’s comments about the need for intense hustle and his desire to avoid becoming a “VC that has hung around too long” suggest that the industry is becoming increasingly competitive and demanding. His exploration of new interests, including public stock investing and writing a book, also indicates a desire to diversify and explore new opportunities. The fact that Gurley was influenced by a book by Steve Martin, which described the moment when Martin realized it was time to quit standup comedy, suggests that Gurley may be looking for a similar moment of clarity in his own career.
Original observation: “The top row is empty, and it’s time to move on.”
Author: Evan Null
