20VC: David Tisch on Why High Ownership and Concentration is BS | Why No Manager Actually Wants to Stay Small | Why Competing with the Mega Platforms is a Losing Game | Why the Lean Startup is a Fake?

David Tisch, founder of BoxGroup, shares his contrarian views on venture capital. He argues that the industry's obsession with high ownership and concentration is misguided, explains why competing with mega platforms is a losing strategy, and calls the Lean Startup methodology a fake. Tisch also discusses why multiple tranched rounds can benefit founders, why pro rata rights are misunderstood, and the story of Rogo, a $2B company that was rejected by 39 out of 40 investors. He lays out BoxGroup's philosophy, including why they disallow negativity in investment decisions and why Y Combinator's business model is the best in venture.