Tech

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?

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Based on the episode description, not a full transcript. Source evidence retrieved 31/10/2026, 07:47:25 UTC.

Briefings

David Tisch, founder of Box Group, discusses why high ownership and concentration are 'BS' and why competing with mega-VCs is a losing strategy. He highlights that early-stage VC returns are often hidden until later years, citing Rogo's 39/40 investor rejection rate. The podcast also critiques the Lean Startup methodology and claims YC has the best business model, though specific return figures remain unverified.

Key points

• David Tisch, founder of Box Group, argues that high ownership and concentration are 'BS' and that competing with mega-VCs is a losing strategy.
• Rogo, a $2B company, was passed on by 39 out of 40 investors, illustrating the difficulty of identifying early-stage returns.

Context

David Tisch, founder of Box Group, a seed fund investing $275M in early-stage startups, explains why high ownership and concentration are 'BS' and why competing with mega-VCs is a losing strategy. The podcast also critiques the Lean Startup methodology and claims YC has the best business model.

Limitations

Specific return figures for early-stage VC are unverified. The podcast does not provide data on the number of investors who accepted Rogo or the specific return on investment for the single best-returning investment in Box Group history.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 31/10/2026, 07:48:30 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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