Everything on Investment Criteria

Market size is the primary determinant of venture success, outweighing founder quality. A good founder in a massive market is more likely to generate a $100 billion outcome than a great founder in a niche market.

Impact: Funds must prioritize large TAMs to ensure their portfolio companies can achieve the scale necessary to generate significant fund returns.

— from AI Investment Strategy: Valuation, Margins, and Platform Companies · The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch· Feb 23, 2026