David Gan@davidgan1818 · 2026/08/26政策影响RT @PolymarketMoney: JUST IN: Bank of America, Wells Fargo and other major banks are moving forward with a “global stablecoin consortium.”
AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。
David Gan@davidgan1818 · 2026/08/26政策影响I think early-stage investors have two jobs
Before the check, figure out whether this founder could become exceptional
After the check, make it easier for everyone else to see it
The second part is underrated
A great founder can be too early, too technical, or too unusual for the market to immediately understand
Your job is to help create the context around the company
Make the right introductions
Help sharpen the story
Bring the right people into the round
The best early-stage investors help create consensus
AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。
David Gan@davidgan1818 · 2026/08/25观点输出RT @brian_armstrong: Crypto gives people a way out.
Many countries suffer from high inflation, or volatile currencies. The only way most r…
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
David Gan@davidgan1818 · 2026/08/25赛道影响The most expensive word in venture might be “consensus.”
A founder raises $10M on a $100M valuation.
Everyone wants in.
The next investor looks at the round and thinks:
“Great company. Great market. Great investors.”
But now the next investor also needs the company to grow into that price.
Consensus doesn't just increase competition for the deal.
It increases the amount of future success already priced into the deal.
Sometimes the best early-stage opportunity is the company that looks obvious six months later.
Not today.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
David Gan@davidgan1818 · 2026/08/24赛道影响There is an interesting advantage to investing while you're still fundraising.
Every new investment becomes evidence for the next LP conversation.
Instead of saying:
“Trust me, this is how I invest.”
You can say:
“Here are the companies I've already backed. Here's the ownership I have. Here's how they're progressing.”
The portfolio starts doing the fundraising for you.
I think this is especially powerful for emerging managers.
A fund deck tells LPs what you intend to do.
A live portfolio tells them what you actually do.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
David Gan@davidgan1818 · 2026/08/21赛道影响AI agents will need financial infrastructure that works as continuously as they do
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
David Gan@davidgan1818 · 2026/08/21赛道影响Early-stage venture has an underrated risk: signaling.
A founder joins a prestigious accelerator.
The accelerator doesn't invest.
The founder raises their next round.
Suddenly every investor wants to know why.
That question can become part of the company's fundraising story whether the founder wants it to or not.
This is why I think some of the best early-stage investors are intentionally quiet.
They can spend months helping a founder before investing.
No announcement.
No logo on the website.
No implied judgment if they eventually pass.
At the earliest stages, sometimes the best value an investor can provide is being useful without becoming part of the signal.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
David Gan@davidgan1818 · 2026/08/20观点输出The smallest check in a venture portfolio can sometimes be the most valuable.
I heard a manager describe a structure I thought was interesting:
15 core investments at $500k.
Then 5 smaller $100k checks where ownership and price barely matter.
The point of those smaller checks isn't the return.
It's the deal flow.
If a trusted investor is leading a round, getting a small allocation gives you exposure to the company, the founder, and everyone else who wants to be in the next round.
Then when that company announces, the market learns something about you too.
You're investing in the company.
But you're also investing in the network around the company.
That's a very different way to think about portfolio construction.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
David Gan@davidgan1818 · 2026/08/20观点输出I’m hosting a VC career night at Inception House next Friday.
If you’re a student curious about venture, startups, or investing, come by.
Also hiring for a few internship roles, so would be great to meet some of you in person.
NYC · Aug 28th · 6–8 PM
RSVP: https://t.co/qRSfNbJ4Ei
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
David Gan@davidgan1818 · 2026/08/19观点输出I’m hosting a VC career night at Inception House next Tuesday.
If you’re a student curious about venture, startups, or investing, come by.
Also hiring for a few internship roles, so would be great to meet some of you in person.
NYC · Aug 25th · 6–8 PM
RSVP: https://t.co/qRSfNbIwOK
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
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